Drilling Tools International Authorizes a $10 Million Share Repurchase Program

Board Authorizes a $10 Million Repurchase Program

Prejean added, "Our disciplined capital allocation strategy prioritizes financial strength through maintenance and organic growth capital investment, strategic acquisitions, and now a return of capital program to enhance shareholder value. We firmly believe that our common stock is undervalued and is an attractive investment opportunity within our overall capital allocation strategy."

DTI announced today that its board of directors (the "Board") recently authorized a repurchase program under which the Company may repurchase its outstanding shares of its common stock up to $10 million. The Board's decision to initiate this program reflects its confidence in the Company's long-term strategy and financial health. By repurchasing shares, DTI aims to enhance shareholder value in several ways, including optimizing its capital structure and demonstrating a commitment to returning excess capital to shareholders, providing the Company with flexibility to manage its equity base efficiently. The Board will periodically review the program and may adjust the amount and timing of repurchases based on market conditions, business outlook, and other factors relevant to the Company's financial position and strategic priorities.