LFL Announces TSX Approval of Repurchase Program for Common Shares

Executive Summary

• Leon’s Furniture Limited approved a common share repurchase program to buy back up to 3,443,868 shares (5.0% of outstanding shares).
• The bid will run from March 23 2026 until the earlier of full purchase, termination notice, or March 22 2027, with daily purchase limits of 5,036 shares.
• An Automatic Share Purchase Plan (ASPP) with National Bank Financial will facilitate repurchases during market blackout periods.

Key Details

• Program Size: Up to 3,443,868 common shares (≈5.0% of 68,877,370 issued and outstanding shares as of March 11 2026).
• Daily Purchase Limit: 5,036 shares per day on the Toronto Stock Exchange, based on average daily volume of 20,146 shares for the six months ending Feb 28 2026.
• Bid Period: Commences March 23 2026; terminates on the earliest of full purchase, issuer notice of termination, or March 22 2027.
• Execution Method: Purchases at market price through TSX facilities or alternative Canadian trading systems under normal‑course issuer bid rules.
• Prior Activity: Under a previous NCIB (Mar 21 2025 – Mar 20 2026), Leon’s purchased 14,195 shares to date.
• Automatic Share Purchase Plan (ASPP): Effective April 1 2026, National Bank Financial may buy shares on Leon’s behalf during insider‑trading blackout periods, following parameters set by Leon’s.
• Management Comment: “We believe that the current price of our shares is very attractive and deem it to be a prudent use of our capital.” – CFO Victor Diab.

Notable Quotes

• “We believe that the current price of our shares is very attractive and deem it to be a prudent use of our capital.” – Victor Diab, Chief Financial Officer, Leon’s Furniture Limited.