Metatek-Group Ltd. Reports Second Quarter Fiscal Year 2026 Results and Provides Full-Year Fiscal Guidance

Calgary, Alberta--(Newsfile Corp. - August 6, 2026) - Metatek-Group Ltd. (TSX: MTEK) ("Metatek" or the "Company") announced financial results for the three and six months ended June 30, 2026 (the "Financial Statements"). All amounts are expressed in US dollars unless otherwise stated.

Second Quarter 2026 Highlights: * Revenue of $2.8 million, compared to $4.5 million for Q2 2025. * Second quarter revenue was primarily driven by eFTG data acquisition activity in Nigeria for a repeat client and the commencement of the largest contract in the Company's history. Following an extended mobilization period, field operations commenced during the quarter and the multi-year project is now underway. * Revenue also included a material contribution from the sale of additional eFTG data acquired in Angola during Q1 2026, which was processed during Q2 and subsequently acquired by an existing client. * Following the cessation of operations in the Middle East due to the conflict in the region, the dFTG left Dubai in late April and undertook scheduled maintenance before mobilizing to West Africa for a potential project which was postponed by the government client in the final stages of negotiation, resulting in no additional dFTG projects being undertaken during Q2. * Adjusted Backlog(1) of approximately $89 million as at June 30, 2026, reflecting growth from the $77 million stated as at March 31, 2026, supported by recent contract awards and continued demand across sovereign resource programs, including a significant contract in South-East Asia. * Gross Profit(1) of $1.0 million, compared to $2.6 million for the same period of the prior year, representing Gross Profit Margin(1) of 36%, reflecting ongoing dFTG operating and maintenance costs without a corresponding revenue contribution during Q2 2026, together with a largely fixed operating cost base across both survey systems. * Adjusted EBITDA(1) for Q2 was a loss of $1.0 million in comparison to a positive Adjusted EBITDA for Q2 2025 of $1.4 million. * Cash outflow from operations for the first half of 2026 was $3.7 million, which included the payment of expenses relating to the IPO which occurred late in Q1 2026. * The Group had cash and cash equivalents of $11.9 million and $4.9 million combined of trade and other receivables and contract assets as at June 30, 2026.