McCOY GLOBAL ANNOUNCES RECEIPT OF MAJOR ORDER

EDMONTON, Alta., July 22, 2022 /CNW/ – McCoy Global Inc.. (“McCoy”, “McCoy Global” or “the Company”) (TSX: MCB) today announced the acceptance of orders totaling 11.3 million Canadian dollars for Hydraulic Clamps, Casing Laying Tools and McCoy Torque Turn Systems and related parts and accessories for a customer based in the Kingdom of Saudi Arabia. Delivery of the equipment and technology is expected to take place during the second half of 2022 and the first quarter of 2023.

“Our quote and order intake activity continued to improve as 2022 progressed and McCoy is now poised to see levels of order intake not seen since 2015,” said Jim Rakievich, President and CEO. “We expect this level of order book1coupled with our strong operating leverage, to support strong sequential revenue and earnings growth in the coming quarters.”

Including the 11.3 million Canadian dollars orders announced today, since April 1, 2022 order intake totaled 25.1 million Canadian dollars resulting in a backlog of 26.5 million Canadian dollars like a July 21, 2022.

About McCoy Global Inc.

McCoy Global is transforming well construction by using automation and machine learning to maximize wellbore integrity and collect accurate connection data critical to the global energy industry. The Company has offices in Canada, The United States of Americaand the United Arab Emirates and operates internationally in over 50 countries through a combination of direct sales and key distributors.

Throughout its 100 year history, McCoy has proudly called Edmonton, Alberta, Canada its head office. The Company’s shares are listed on the Toronto Stock Exchange and trade under the symbol “MCB”.

1 McCoy Global defines backlog as orders that have a high certainty of delivery and is measured based on a firm customer commitment, such as receipt of a purchase order. Customers may default or cancel these covenants, but may be secured by a deposit and/or require reimbursement by the customer in the event of default or cancellation. The backlog reflects probable future revenues; however, cancellations or curtailments may occur and there can be no assurance that backlog amounts will ultimately be realized as revenue, or that the Company will realize a profit on the backlog when filled. Expected delivery dates for orders recorded in the backlog have historically ranged from one to six months. Under current market conditions, many customers have shifted their purchases to just-in-time purchases.

Forward-looking information

This press release contains forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of current or historical facts are forward-looking statements. Forward-looking information is often, but not always, identified by the use of words such as “could”, “should”, “may”, “anticipate”, “expect”, “objective”, “continuing”, “believe”, “will”, “may”, “projected”, “plan”, “support”, “continue”, “strategy”, “potential”, “projects”, “growth”, “benefit”, “estimate “, “well-positioned” or similar words that suggest future results. This news release contains forward-looking statements regarding business opportunities for the Company that are based on the opinions of the Company’s management and current and expected market conditions; and the perceived benefits of the Company’s growth strategy and operating strategy are based on the financial and operating characteristics of the Company as of the date hereof, as well as the expected operating and financial results. the Company are based on c erate of the Company’s key expectations and assumptions regarding expected financial performance, business prospects, strategies, the adequacy of budgeted capital expenditures to carry out planned activities, the availability and cost of labor and services and the ability to obtain financing on acceptable terms, which are subject to change depending on market conditions and possible delays. Although the Company’s management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties (both general and specific) and risks that the forward-looking statements will not materialize. Undue reliance should not be placed on forward-looking statements, as a number of important factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in the forward-looking statements, including inability to meet current and future obligations; the inability to effectively complete or integrate strategic acquisitions; failure to effectively implement the Company’s business strategy; access to capital markets; fluctuations in oil and gas prices; fluctuations in capital expenditures of the Company’s target market; competition for, among other things, labor, capital, materials and customers; interest and exchange rates; technological development; global political and economic conditions; natural disasters or global diseases; and the inability to attract and retain key personnel. Readers are cautioned that the foregoing list is not exhaustive. The reader is further cautioned that the preparation of financial statements in accordance with IFRS requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, income and expenses. These judgments and estimates may change, adversely or positively affecting net income as new information becomes available and economic conditions change. The information in this press release identifies additional factors that could affect the Company’s results of operations and performance. We urge you to carefully consider these factors. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release are made as of the date of this further release, and the Company does not undertake or is under any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by securities laws.

SOURCE McCoy Global Inc.

For further information: Mr. Jim Rakievich, President and CEO, McCoy Global Inc., email: [email protected]Website: www.mccoyglobal.com

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