TULSA, Okla., June 2, 2023 - Shaw Pipeline Services ("SPS") announced today that it has been acquired from Shawcor (TSX: SCL) by a US-based investor group which includes Achieve Capital LLC and members of the current SPS management team.

"Today's announcement is an exciting new chapter in our long history. Our investors are focused on the energy infrastructure space and committed to growing this business. As a private company, SPS will have flexibility to evolve our industry leading technology and expand our business. The priorities don't change. Health and safety, unmatched technical competence, and a passion for customer services are still our foundation," said Charlie Pattillo, CEO of SPS.

The purchase was finalized on May 31, 2023.

About SPS

Headquartered in Tulsa, Oklahoma Shaw Pipeline Services is a global provider of non-destructive, ultrasonic, and radiographic pipeline girth weld inspection technology and services to the North American onshore and global offshore pipeline markets. Founded in the 1970s, SPS pioneered automated ultrasonic testing (AUT) and real-time radiography (RTR) to enable faster, safer and more accurate weld inspection. Shaw Pipeline Services' technologies and processes are now considered industry standards for quality and accuracy.

For further information, please contact

Charlie Pattillo

CEO

Telephone: 918.893.7800

Email: Charlie.pattillo@shawndt.com

Website: www.shawpipeline.com

SOURCE Shaw Pipeline Services