ADF GROUP INC. ANNOUNCES THE SIGNING OF A MAJOR LONG-TERM CONTRACT IN QUEBEC'S ENERGY SECTOR, WHICH AT MATURITY, COULD TOTAL CLOSE TO $400 MILLION

ADF GROUP INC. ANNOUNCES THE SIGNING OF A MAJOR LONG-TERM CONTRACT IN QUEBEC'S ENERGY SECTOR, WHICH AT MATURITY, COULD TOTAL CLOSE TO $400 MILLION

(All amounts are in Canadian dollars unless otherwise noted.)

TERREBONNE, QC, July 23, 2025 /CNW/ - ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX), a North American leader in the fabrication of steel superstructures announces the signing of a major five (5) year contract, valued between $35 million and $40 million per year, for the supply, fabrication and delivery of steel structures, as part of a new infrastructure project in the energy sector, in Quebec. This contract also includes an option to extend it another five (5) years.

At maturity, and including the inflation clauses, this major contract could total close to $400 million.

Fabrication of the steel structures is scheduled to begin in the coming months at ADF's Terrebonne plant.

To meet the operational requirements of this major contract, the Corporation will invest in new equipment, and hire production personnel at its plant, in Terrebonne, Quebec.

"We have the capabilities, the talents and state-of-the-art plants that give us the flexibility to carry out all types of steel structure projects that are entrusted to ADF, regardless of the complexity level and scale, thanks to careful planning of our production areas and strategic investments" said Mr. Jean Paschini, Chairman of the Board of Directors and Chief Executive Officer.

"Over the past few years, we have, among other things, undertaken to focused part of our market development efforts on developing the Canadian market, seeing promising business opportunities taking shape that correspond to our fields of expertise. We welcome the opportunity to once again collaborate with our major client, and we are proud to be able to contribute to Québec's reputation on a global scale through this structuring and promising project" concluded Mr. Jean Paschini.

The Corporation's order backlog stood at $330.4 million as at April 30, 2025, excluding the contract announced today.

About ADF Group Inc. | ADF Group Inc. is a North American leader in the design and engineering of connections, fabrication, including the application of industrial coatings, and installation of complex steel structures, heavy steel built ups, as well as in miscellaneous and architectural metals for the non-residential infrastructure sector. ADF Group Inc. is one of the few players in the industry capable of handling highly technically complex mega projects on fast-track schedules in the commercial, institutional, industrial and public sectors. The Corporation operates two fabrication plants and two paint shops, in Canada and in the United States, and a Construction Division in the United States, which specializes in the installation of steel structures and other related products.

Forward-Looking Information | This press release contains forward-looking statements reflecting ADF's objectives and expectations. These statements are identified by the use of verbs such as "expect" as well as by the use of future or conditional tenses. By their very nature these types of statements involve risks and uncertainty. Consequently, reality may differ from ADF's expectations.

Website: www.adfgroup.com

SOURCE ADF Group Inc.