Mr. Mark Tommasi reports

UPDATE FROM IRONMAN LEADERSHIP

Ironman International Ltd. has provided the following updates on its operations and business activities.

Ironman's strategy is built on three foundational pillars: (1) a focus on business fundamentals; (2) growth; and (3) strategic alignment of staff and suppliers to deliver value to its customers. The following is an update on these pillars and the company's business.

Business fundamentals and activities

Its Ironman directional drilling segment has seasonality to its operations. Traditionally, the company uses late fall and winter to prepare for the ensuing spring, summer and fall, which include annual training programs and bidding on jobs for the coming year. Its telecom segment, Lite Access, provides stable year-round revenues with an operational focus in the greater Vancouver area, leveraging its ability to design remote projects from its Langley office. This winter, it has kept crews busy as its work pipeline has been full. The company believes its strategic alignment and focus on delivering value to its customers allow it to be successful in a competitive market.

Growth

The company submitted more than 220 bids in December, 2025, and January, 2026, to add to its current work program for the current year and beyond. It anticipates a strong workflow for fiscal 2026.

The company is actively bidding on projects in British Columbia, Alberta, Northwest Territories, Alaska and continental United States.

The company benefits from a highly competent and dedicated work force, ownership of its equipment, and an internal maintenance department. These factors facilitate Ironman being agile and capable of delivering high performance results on jobs of varying size, complexity, terrain and conditions, which it expects will keep its crews busy all-year-round.

Based on its fiscal 2024 audited financial statements included in the company's information circular dated July 14, 2025, and the subsequent quarterly financial reports filed on SEDAR+, the company's directional drilling operations had significant growth as a result of expansion into Alaska. In March, the company will announce its revenues for fiscal 2025 and provide guidance for fiscal 2026, which will include both the telecom and directional drilling operations.

The company currently has crews working in many regions in British Columbia and is pleased with the slate of work it has already scheduled for fiscal 2026. It has historically reinvested the earnings of the company back into the business in the form of training and development, capital asset purchases to expand capabilities, and entry into new segments to expand its directional drilling services. From the end of fiscal 2024 to the end of fiscal 2025, the company doubled its staff. It believes its business fundamentals have positioned it to continue with strategic expansions to continue to drive shareholder value.

Its crews are highly mobile and can perform a wide range of services. As the company is primarily an integrated service provider and does not rely significantly on third parties, it has a large, diverse group of customers which allows it to be aggressive in the bids it submits to expand the business.

The company is also looking at further opportunities to expand and support its current service offerings. In this regard, it has set up a new division, Ironman pipe inspection, which will provide comprehensive inspection services for critical pipeline systems. Ironman PI will leverage the company's background in civil works to help support utility projects throughout North America. The company will engage its existing network of customers and supply chain to launch Ironman PI. Furthermore, Ironman PI will enable the company to conduct location services on the company's projects, thereby preventing expensive delays.

Corporate update

As announced in the company's news release dated Nov. 28, 2025, the company awarded certain directors, officers, employees and consultants with incentive stock options to further add alignment between the company's employees and its shareholders. The company has entered 2026 with a highly motivated and talented staff that is positioned to deliver high-quality services to its customer base and drive growth.

It is focused on delivering strong results for 2026 through relentless execution, pursuing bold innovations, achieving disciplined expansion and fostering alignment to build enduring shareholder value.

Upgrade to OTCQB

The company is also pleased to announce that the company's common shares have been upgraded to trade on the OTCQB Venture Market under the symbol IMITF. The company began trading on the OTCQB on Feb. 18, 2026.

About Ironman International Ltd.

Established in 1999, Ironman is a leading North American provider of horizontal directional drilling and trenchless infrastructure services, operating 24-seven to support residential, commercial, industrial and utility clients. The company specializes in delivering cost-effective, low-impact underground installation solutions across a broad range of applications, including telecommunications, electrical, water and sewer, oil and gas, geothermal, and irrigation systems.

With a modern fleet of specialized equipment and an experienced technical team, Ironman is capable of executing complex projects across diverse and challenging environments, including lakes, rivers, coastal and nearshore marine installations, rail corridors, roadways, and highways. The company also provides complementary services designed to enhance efficiency, maintain safety standards, and ensure projects are completed on time and on budget.

The common shares of Ironman are listed on the TSX Venture Exchange and trade under the symbol IMI, and trade on the OTCQB Venture Market under the symbol IMITF.

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