Calgary, Alberta--(Newsfile Corp. - July 14, 2026) - Metatek-Group Ltd. (TSX: MTEK) ("Metatek" or the "Company") announces that its Board of Directors has approved the filing of an application to the Toronto Stock Exchange ("TSX") to launch a Normal Course Issuer Bid ("NCIB").

Subject to TSX approval, the Company intends to repurchase up to 2,461,323 common shares, representing approximately five percent of its outstanding common shares, the maximum permitted over a twelve-month period under the policies of the TSX.

The Board of Directors believes that, from time to time, the market price of the Company's common shares may not fully reflect their underlying value and future prospects. Accordingly, the Board believes that the NCIB represents an appropriate use of the Company's available financial resources and forms part of the Company's ongoing commitment to enhancing shareholder value.

Dr. Mark Davies, Chief Executive Officer of Metatek, commented: "The proposed NCIB reflects our confidence in Metatek's long-term outlook and commitment to disciplined capital allocation. We believe our technology platform, contract portfolio and growth opportunities are not fully reflected in our current market valuation. The NCIB would provide an opportunity to create long-term value for shareholders while maintaining the financial flexibility required to support the continued growth of our business."

Additional details regarding the commencement date, term and other conditions of the NCIB will be announced following receipt of all required approvals.

About Metatek

Metatek is a United Kingdom-based geophysical services company providing high-definition mapping of subsurface strategic and critical mineral natural resources, energy (including hydrocarbons), helium and hydrogen, for exploration and development. Unlike traditional exploration companies that rely solely on invasive or slow-moving technologies such as seismic surveys, Metatek delivers rapid data acquisition, processing and scientific interpretation across air, land, and sea environments. Metatek supports national energy security and fast-tracking of the discovery of hydrocarbons, minerals essential for sustainable power, such as lithium, nickel, and copper, as well as identifying reservoirs for natural hydrogen and geothermal energy.

To learn more, please visit: www.metatek-group.com.

Forward-Looking Information

This press release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "seek", "potential", "estimate", "anticipate", "believe", "could", "would", "should", "continue", "plans", "target", "is/are likely to", or the negative of these terms, or similar expressions intended to identify forward-looking statements.

Forward-looking statements reflect the Company's current views with respect to future events and are subject to various known and unknown risks and uncertainties, which are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Metatek, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These factors may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the timing and execution of the Company's contracts; the ability to mobilise and operate in international jurisdictions; regulatory and permitting processes; the continuation of client relationships; and general economic, geopolitical and industry conditions.

The risks and assumptions outlined above should not be construed as exhaustive. For additional information with respect to certain of these risks or uncertainties and other factors that could affect Metatek's operations and financial results, reference should be made to the section entitled "Risks and Uncertainties" in the Company's MD&A for the fiscal year ended December 31, 2025 and to Metatek's continuous disclosure materials filed from time to time with the Canadian Securities Regulatory Authorities, including the Company's most recent Annual Information Form under the section entitled "Risk Factors", which are available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Forward-looking statements contained in this press release are made as of the date of this press release and the Company undertakes no obligation to update forward-looking statements except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements.

Not for distribution to U.S. newswire services or dissemination in the United States.

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