Exhibit 99.1

Drilling Tools International Corporation Reports 2026 Third Quarter Results

HOUSTON — November 5, 2026 — Drilling Tools International Corporation (NASDAQ: DTI) (“DTI” or the “Company”), a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations, as well as other cutting-edge solutions across the well life cycle, today reported its results for the three months ended September 30, 2026.

For the third quarter of 2026, DTI generated total consolidated revenue of $40.6 million. Third quarter Tool Rental revenue was $32.0 million, and Product Sales revenue totaled approximately $8.7 million. Net Loss attributable to DTI shareholders for the third quarter was approximately $2.6 million, or a loss of $0.07 per share. Adjusted Net Loss(1) was $433,000 and Adjusted Diluted EPS(1) for the third quarter was a loss of $0.01 per share. Third quarter Adjusted EBITDA(1) was $9.5 million and Adjusted Free Cash Flow(1)(2) was approximately $3.8 million. As of September 30, 2026, DTI had approximately $3.0 million of cash and cash equivalents, and Net Debt(1) of $47.4 million.

Wayne Prejean, Chairman of the Board and Chief Executive Officer, stated, “We are pleased with our third quarter performance. As we anticipated, the second half improvement is underway, with Revenue up 7% and Adjusted EBITDA up 14% sequentially, and Adjusted EBITDA margin expanding to approximately 23%. We delivered sequential growth across North America and key Eastern Hemisphere markets, and our results strengthened each month of the quarter. September was our strongest month, with Adjusted EBITDA reaching approximately $4 million for the first time this year, providing a healthy exit rate and strong momentum as we close out 2026.

“In North America, rising U.S. rig counts and a sharp post-breakup rebound in Canada drove higher tool utilization, and commercial terms held firm as customers finalize their 2027 budgets. Offshore, demand for our ClearPath technology continues to build in both hemispheres. In Europe, significant new ClearPath contract awards, which drove the bulk of our growth investments this year, began contributing full run-rate revenue in September and are supported by long-term rental agreements. In the Gulf of America, ClearPath continues to gain traction as operators place a premium on performance in the most technically demanding wells. In the Middle East, overall activity was relatively flat as the regional conflict persists, but operators have largely adapted, and we remain encouraged by the region’s longer-term outlook.

“Shortly after quarter end, we announced our agreement to acquire Saltire Energy Limited and Foxley Energy Limited (together, “Saltire”). This is a transformative step that is expected to take our Eastern Hemisphere business to approximately 40% of pro forma revenue, giving DTI a more balanced and appropriately hedged position across the global drilling market. We expect the transaction, if completed, to be accretive to Adjusted EBITDA margin and Adjusted Free Cash Flow per share in the first year following closing before any synergies, with the opportunity to bring our technologies to Saltire’s customers representing meaningful upside. We continue to expect to fund the cash portion of the transaction through new debt financing together with borrowings under our existing credit facility, and we remain on track to close in the first quarter of 2027, subject to DTI stockholder approval, any required regulatory approvals and other customary closing conditions. We also recently rolled out our new DTI brand, uniting every business we have acquired under a single identity as we prepare to welcome the Saltire team. Upon the completion of the Saltire acquisition, we expect to be a larger, more diversified company, and we look forward to building on that foundation in 2027 and beyond,” concluded Prejean.

DTI continues to expect full-year 2026 Revenue and Adjusted EBITDA within its previously disclosed guidance ranges, and the Company expects to finish the year toward the lower end of both ranges, consistent with what has been communicated throughout the year. As a result of approximately $4 million of targeted growth investments made during the second and third quarters of 2026 to support contract awards offshore Norway, together with continued investment to keep pace with rising U.S. land activity, the Company has raised its full-year capital expenditure outlook to $22 million to $23 million and revised its full-year Adjusted Free Cash Flow outlook to $13 million to $22 million, from $17 million to $22 million previously, and expects Adjusted Free Cash Flow near the low end of the revised range.

2026 Full Year Outlook

2026 Third Quarter Conference Call Information

DTI's 2026 third quarter conference call can be accessed live via dial-in or webcast on Friday, November 6, 2026 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) by dialing 201-389-0869 and asking for the DTI call at least 10 minutes prior to the start time, or via live webcast by logging onto the webcast at this URL address: https://investors.dti.inc/news-events/events. An audio replay will be available through November 13, 2026 by dialing 201-612-7415 and using passcode 13762424#. Also, an archive of the webcast will be available shortly after the call at https://investors.dti.inc/news-events/events for 90 days. Please submit any questions for management prior to the call via email to DTI@dennardlascar.com.

About Drilling Tools International Corporation

DTI is a Houston, Texas based leading oilfield services company that manufactures and rents downhole drilling tools used in horizontal and directional drilling of oil and natural gas wells. With roots dating back to 1984, DTI operates from 15 service and support centers across North America and maintains 11 international service and support centers across the EMEA and APAC regions. To learn more about DTI, please visit: www.dti.inc.

Contact:

DTI Investor Relations

Ken Dennard / Natalie Hairston

investorrelations@dti.inc

Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements other than statements of historical fact included in this press release are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, statements regarding DTI and its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release may include, for example, statements about: (1) the demand for DTI’s products and services, which is influenced by the general level activity in the oil and gas industry; (2) DTI’s ability to retain its customers, particularly those that contribute to a large portion of its revenue; (3) DTI’s ability to employ and retain a sufficient number of skilled and qualified workers, including its key personnel; (4) DTI’s ability to source tools and raw materials at a reasonable cost; (5) DTI’s ability to market its services in a competitive industry; (6) DTI’s ability to execute, integrate and realize the benefits of acquisitions, and manage the resulting growth of its business; (7) potential liability for claims arising from damage or harm caused by the operation of DTI’s tools, or otherwise arising from the dangerous activities that are inherent in the oil and gas industry; (8) DTI’s ability to obtain additional capital; (9) potential political, regulatory, economic and social disruptions in the countries in which DTI conducts business, including changes in tax laws or tax rates; (10) DTI’s dependence on its information technology systems, in particular Customer Order Management Portal and Support System, for the efficient operation of DTI’s business; (11) DTI’s ability to comply with applicable laws, regulations and rules, including those related to the environment, greenhouse gases and climate change; (12) DTI’s ability to maintain an effective system of disclosure controls and internal control over financial reporting; (13) the potential for volatility in the market price of DTI’s common stock; (14) the impact of increased legal, accounting, administrative and other costs incurred as a public company, including the impact of possible shareholder litigation; (15) the potential for issuance of additional shares of DTI’s common stock or other equity securities; (16) DTI’s ability to maintain the listing of its common stock on Nasdaq; (17) the occurrence of any event, change or other circumstance that could give rise to the termination of the agreement to acquire Saltire; (18) the risk that the Saltire acquisition may not be completed on the anticipated terms or timing, or at all, including the failure to obtain DTI stockholder approval or any required regulatory approvals, the failure of the registration statement on Form S-4 to become effective, the failure to obtain Nasdaq approval of the listing of the shares to be issued as equity consideration, or the failure to satisfy other closing conditions; (19) the risk that the anticipated benefits of the Saltire acquisition, including accretion to Adjusted EBITDA margin and Adjusted Free Cash Flow per share, are not realized or take longer than expected, and risks relating to the integration of Saltire; (20) the dilution to existing DTI stockholders from the issuance of the fixed number of shares to be issued as equity consideration, the fluctuation in the value of the stock consideration, and potential sales by the sellers following expiration of applicable lock-up restrictions; (21) DTI’s increased indebtedness following the transaction, including under the Nordic bonds and its existing credit facility, the terms and covenants thereof, and DTI’s ability to comply with such terms and to reduce leverage as anticipated; (22) the outcome of any

legal proceedings relating to the transaction; (23) volatility in oil and natural gas prices and rig counts, the impact of the ongoing conflict in the Middle East and other geopolitical events, tariffs and trade policy, and fluctuations in foreign currency exchange rates, including between the U.S. dollar and the British pound sterling; (24) changes in laws and regulations affecting our customers’ drilling and completion activities, including permitting, environmental, offshore and climate-related regulation in the United States, the United Kingdom, Norway and other jurisdictions in which DTI or Saltire operates; and (25) other risks and uncertainties described from time to time in DTI’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the Securities and Exchange Commission (the “SEC”). You should carefully consider the risks and uncertainties including those described in Part I, Item 1A – “Risk Factors” of our Annual Report on Form 10-K filed on March 6, 2026 and in comparable “Risk Factor” sections of our Quarterly Reports on Form 10-Q filed after such Form 10-K, and in the registration statement on Form S-4 filed by DTI in connection with the proposed Saltire acquisition, including the section entitled “Risk Factors” therein. Such forward-looking statements are based on the beliefs of management of DTI, as well as assumptions made by, and information currently available to DTI’s management and are subject to numerous conditions, many of which are beyond the control of DTI. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in DTI’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. All subsequent written or oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Additional Information and Where to Find It

In connection with the proposed acquisition of Saltire Energy Limited and Foxley Energy Limited (together, “Saltire”), DTI has filed with the SEC a registration statement on Form S-4 that includes a preliminary proxy statement of DTI that also constitutes a prospectus of DTI. After the registration statement is declared effective, DTI will mail a definitive proxy statement/prospectus to its stockholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT DTI, SALTIRE AND THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of these documents through the SEC’s website at www.sec.gov and on DTI’s investor relations website at https://investors.dti.inc.

Participants in the Solicitation

DTI, Saltire and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from DTI’s stockholders in connection with the proposed transaction. Information about DTI’s directors and executive officers is set forth in DTI’s most recent Annual Report on Form 10-K and proxy statement for its 2026 annual meeting of stockholders, filed with the SEC on March 6, 2026 and March 13, 2026, respectively, and in the proxy statement/prospectus. Additional information regarding the interests of such participants, by security holdings or otherwise, is or will be contained in the proxy statement/prospectus and other relevant materials filed with the SEC.

No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, including the Nordic bonds, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The Nordic bonds have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Non-GAAP Financial Measures

This release includes Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin, Net Debt, Adjusted Basic Earnings (Loss) Per Share, Adjusted Diluted Earnings (Loss) Per Share and Adjusted Net Income (Loss) measures. Each of these metrics is a “non-GAAP financial measure” as defined in Regulation G of the Securities Exchange Act of 1934.

Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. Adjusted EBITDA is not a measure of net earnings or cash flows as determined by GAAP. We define Adjusted EBITDA as net earnings (loss) before interest, taxes, depreciation and amortization, further adjusted for (i) goodwill and/or long-lived asset impairment charges, (ii) stock-based compensation expense, (iii) restructuring charges, (iv) transaction and integration costs related to acquisitions and (v) other expenses or charges to exclude certain items that we believe are not reflective of ongoing performance of our business.

We believe Adjusted EBITDA and Adjusted EBITDA Margin are useful because they allow us to supplement the GAAP measures in order to more effectively evaluate our operating performance and compare the results of our operations from period to period without regard to our financing methods or capital structure. We exclude the items listed above in arriving at Adjusted EBITDA because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP, or as an indicator of our operating performance or liquidity. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDA. Our computations of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies.

Adjusted Free Cash Flow is a supplemental non-GAAP financial measure, and we define Adjusted Free Cash Flow as Adjusted EBITDA less Gross Capital Expenditures. We use Adjusted Free Cash Flow as a financial performance measure for planning, forecasting, and evaluating our performance. We believe that Adjusted Free Cash Flow is useful to enable investors and others to perform comparisons of current and historical performance of the Company. As a performance measure, rather than a liquidity measure, the most closely comparable GAAP measure is net income (loss).

Net Debt is a supplemental non-GAAP financial measure, and we define Net Debt as total debt less cash and cash equivalents. We use Net Debt to determine our outstanding debt obligations that would not be readily satisfied by our cash and cash equivalents on hand. We believe this metric is useful to analysts and investors in determining our leverage position since we have the ability to, and may decide to, use a portion of our cash and cash equivalents to reduce debt. As of September 30, 2026, Net Debt was $47.4 million, calculated as current maturities of long-term debt of approximately $6.2 million, revolving line of credit of $37.0 million and long-term debt, less current portion of $7.2 million, less cash and cash equivalents of $3.0 million.

We define Adjusted Net Income (Loss) as consolidated net income (loss) adjusted for (i) goodwill and/or long-lived asset impairment charges, (ii) restructuring charges, (iii) transaction and integration costs related to acquisitions, (iv) income tax expense (or loss) which is calculated by applying a 25% effective tax rate to adjusted pre-tax income (or loss), and (v) other expenses or charges to exclude certain items that we believe are not reflective of the ongoing performance of our business. We believe Adjusted Net Income (Loss) is useful because it allows us to exclude certain items in evaluating our operating performance.

We define Adjusted Basic Earnings (Loss) and Adjusted Diluted Earnings (Loss) per share as the quotient of adjusted net income (loss) and diluted weighted average common shares. We believe that Adjusted Diluted Earnings (Loss) per share provides useful information to investors because it allows us to exclude non-recurring items in evaluating our operating performance on a diluted per share basis.

This release also includes certain projections of non-GAAP financial measures. The reconciliations of estimated Adjusted EBITDA and estimated Adjusted Free Cash Flow to estimated net income (loss) include estimates of interest expense, income tax expense, depreciation and amortization, management fees, other expense, stock option exercise, goodwill impairment, transaction expense, and capital expenditures, which are difficult to predict and estimate and are primarily dependent on future events.

The following tables and narrative reconciliations of the non-GAAP financial measures of Adjusted EBITDA, Adjusted Free Cash Flow, Net Debt, and Adjusted Net Income to the most directly comparable GAAP financial measures for the periods indicated: