Overview

• Trican will pay $77.35 million in cash and issue about 33.76 million common shares to acquire Iron Horse Energy Services.
• Iron Horse will operate as a wholly owned division with its existing management retained and CEO Tom Coolen joining Trican’s board.
• Trican’s board has approved a 10% increase to the quarterly base dividend, raising it from $0.050 to $0.055 per share.
• The acquisition adds four fracturing spreads and ten coiled tubing units across the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays.
• Completion of the transaction remains subject to Competition Act and TSX listing approvals for a close expected in the second half of 2025.