On May 14, 2026, Badger Infrastructure Solutions Ltd., the Calgary-based company listed on the Toronto Stock Exchange under the symbol BDGI, successfully closed its inaugural private placement offering of $300 million aggregate principal amount of 5.375 percent senior unsecured notes due May 14, 2031. The offering was priced on May 7, 2026 at a price of $1,000 per $1,000 principal amount of notes and was conducted on a private placement basis in Canada pursuant to certain prospectus exemptions. Concurrently with the closing of the note offering, Badger completed the amendment and restatement of its revolving credit facilities. The notes were underwritten by a syndicate of underwriters led by CIBC World Markets Inc. and TD Securities Inc., as joint bookrunners. Badger will use the net proceeds from the offering to repay indebtedness under its revolving credit facilities, including its term facility, thereby extending its debt maturity profile and enhancing financial flexibility. Badger is North America's largest provider of non-destructive excavation and related services through its Badger Hydrovac system, serving a diverse customer base across construction, utility, transportation, industrial and other end-use markets. The transaction marks Badger's first foray into the Canadian fixed income market.