Major Drilling Group International (MDI) Investor presentation summary

Strategic positioning and market outlook

• Diversified by commodity, geography, and customer, enabling flexibility and reduced risk exposure.

• Operations span over 20 countries on six continents, with a workforce exceeding 6,000 and a fleet of 697 drills.

• Revenue is primarily sourced from senior and intermediate mining companies, with no single project exceeding 10% of total revenue.

• Positioned to benefit from rising gold, copper, and silver prices, which are expected to drive increased exploration budgets.

• Demand for specialized drilling is rising as new deposits are found in more remote and challenging locations.

Financial performance and capital structure

• FQ3 2026 revenue reached $184.6M, up from $160.7M in FQ3 2025, but with a net loss of $10.8M.

• Maintains a strong balance sheet with $177.1M in liquidity and a net cash position of $39.6M.

• Announced a normal course issuer bid (NCIB) to repurchase up to 5% of outstanding shares.

• Market capitalization stands at $1.3B with 82.1M shares outstanding.

Operational leverage and efficiency

• Operational leverage supported by existing fleet, inventory, and experienced crews, allowing margin expansion as utilization rises.

• Q3 2026 rig utilization rate was 52%, with a maximum achievable rate of about 75%.

• No substantial increase in G&A or capex required to support higher revenue levels.