Ironman International Signs $12.1 Million Master Construction Agreement for U.S. Fiber Infrastructure

Ironman International Ltd. (TSXV: IMI; OTCQB: IMITF) announced Wednesday that its wholly owned subsidiary, Ironman Directional Drilling Ltd., has entered into a master construction agreement with a U.S.-based communications infrastructure partner. The agreement, dated May 12, 2026, establishes a framework for providing construction and related services for fiber optic network infrastructure projects in the United States, with total compensation of USD $12,108,750.

Under the agreement, Ironman Directional Drilling will provide services including fiber optic infrastructure construction, conduit installation, horizontal directional drilling, plowing, splicing, testing, commissioning, and related civil works. The work is anticipated to commence in the coming weeks and is expected to be completed during 2026. Notably, the project will support remote Indigenous communities in east-central Alaska, aligning with the company's stated values of community partnership and respect.

"This signed agreement is an important step forward for Ironman as we continue to build our platform around critical infrastructure," said Mike Irmen, Chief Executive Officer of Ironman. "This project represents more than just laying cable; it's about connecting families, businesses, schools, and essential services to the opportunities broadband provides." Irmen emphasized that the work demonstrates the value of having experienced crews, specialized equipment, and operational capability to support complex fiber infrastructure projects in demanding field conditions.

Management views the agreement as a meaningful commercial milestone that provides further validation of the company's operating platform in telecommunications infrastructure and trenchless construction. The scope aligns with Ironman's core capabilities and is consistent with its strategy of pursuing larger infrastructure opportunities that leverage its established operating base, equipment fleet, and technical expertise.

Revenue recognition under the agreement will depend on executed work authorizations, project performance, customer acceptance, timing of work completed, invoicing, payment, and other customary conditions. The agreement includes provisions relating to project scope, change orders, invoicing, payment, completion criteria, insurance, and other standard terms applicable to infrastructure construction projects. Costs and expenses associated with the services will be reflected in the company's financial statements.

Ironman International Ltd. is a North American infrastructure services company specializing in horizontal directional drilling, trenchless construction, and related utility and telecommunications infrastructure services. Through its operating subsidiaries, the company provides services across multiple infrastructure verticals, including telecommunications, electrical, water and sewer, oil and gas, geothermal, and other utility-related applications. The company's common shares trade on the TSX Venture Exchange under the symbol IMI and on the OTCQB Venture Market under the symbol IMITF.

A copy of the master construction agreement will be available on the company's profile at www.sedarplus.ca.