Mr. Jon Faber reports

PASON ANNOUNCES APPOINTMENT OF JAMES BOWZER TO BOARD OF DIRECTORS AND RETIREMENT OF BOARD MEMBER JAY COLLINS

Pason Systems Inc. has appointed James Bowzer to its board of directors as an independent director, effective Aug. 7, 2024. Jay Collins will be retiring from the board of directors in November, 2024.

Mr. Bowzer joins Pason with over 35 years of experience in the upstream oil and gas industry. He has served as a director of Bonavista Energy, which was acquired by Tourmaline Oil in 2023, and Baytex Energy Corp. He previously served as president and chief executive officer of Baytex, and spent 30 years at Marathon Oil Corp., where he served in multiple roles, including vice-president of North American production operations and regional vice-president of international production. Mr. Bowzer holds a bachelor of science degree in petroleum engineering from the University of Wyoming and completed the advanced management program at the Graduate School of Business at Indiana University.

"We are delighted to have James Bowzer join Pason's board of directors," said Marcel Kessler, chair of the board of directors. "The experience and perspectives that James brings from his many years of working with leading oil and gas exploration and production companies will be valuable as we continue to build on Pason's ongoing success."

"On behalf of Pason and its board of directors, I would also like to thank Jay Collins for the wisdom and insights he has contributed since joining the board in 2012," said Mr. Kessler. "Jay's critical thinking and practical experience have served Pason well over his many years of service."

About Pason Systems Inc.

Pason is a leading global provider of specialized data management systems for drilling rigs. Its solutions, which include data acquisition, wellsite reporting, remote communications, Web-based information management and analytics, enable collaboration between the rig and the office. Through Intelligent Wellhead Systems Inc. (IWS), Pason also provides engineered controls, data acquisition and software to automate workflows and processes for oil and gas well completions operations, improving wellsite safety and efficiency. Through Energy Toolbase Software Inc. (ETB), Pason also provides products and services for the solar power and energy storage industry. ETB's solutions enable project developers to model, control and monitor economics and performance of solar energy and storage projects.

Pason's common shares trade on the Toronto Stock Exchange under the symbol PSI.