Following a previous report issued on November 3, 2022, Buhler Industries Inc. (TSX: BUI) ("Buhler Industries" or the Company") announces today that its subsidiary, Buhler Versatile Inc. ("Buhler Versatile") has entered into an agreement with PFG Australia PTY Ltd. ("PFG") to be the exclusive distributor for Versatile Tractors in Australia and New Zealand.

Sales are expected to grow as the Company is able to resolve supply chain issues.

Cummins Inc. and Buhler Industries Inc., a leading tractor manufacturer under the Versatile brand, announced today that they have signed a letter of intent and plans to integrate the Cummins 15-liter hydrogen engines in Versatile’s equipment to lead the decarbonization of the agriculture market.

Buhler Industries Inc. continues to strongly oppose the decisions of the Russian Federation and stands with the people of Ukraine. In light of the current situation, the Company has made several changes to the Board of Directors to align the organization with the values of the Canadian-based leadership team.

Buhler Industries Inc. (TSX: BUI) is strongly opposed to this action and does not condone this attack. The Executive team of Buhler Industries is united in the condemnation of the actions taken by the Russian Federation.