The North West Company Inc. Announces Renewal of its Normal Course Issuer Bid

Executive Summary

• The North West Company Inc. announced that the TSX has accepted its notice to commence a new NCIB, allowing the company to repurchase up to 4,752,020 shares (≈10% of public float) over the next 12 months.
• Purchases will be made at market price through TSX or Canadian alternative trading systems, with daily and weekly volume limits; an automatic securities purchase plan will facilitate purchases around blackout periods starting Nov 25, 2025.
• The NCIB is funded from available resources, shares purchased will be cancelled, and the program may be terminated early if all authorized shares are bought.

Key Details

• Maximum Shares Authorized: 4,752,020 (≈10% of public float as of Nov 13, 2025).
• Current Float: 47,736,757 issued & outstanding shares (Nov 13, 2025).
• Purchase Limits: Daily max 35,865 shares (≈25% of average daily volume of 143,460); one block purchase per calendar week may exceed this limit.
• Automatic Purchase Plan: Effective Nov 25, 2025; allows purchases during periods when the company would otherwise be restricted by blackout rules.
• Funding Source: Company’s available cash resources; no external financing involved.
• Cancellation of Shares: All repurchased shares will be cancelled immediately upon purchase.
• Program Timeline: Commences Nov 25, 2025; terminates Nov 24, 2026 unless completed earlier or terminated by notice.
• Historical Context: Under the prior 2025 NCIB (Nov 21, 2024 – Nov 20, 2025), the company repurchased and cancelled 197,899 shares at an average price of $47.63 per share.

Notable Quotes

• “The board believes that purchasing a portion of our outstanding shares may be an appropriate use of available resources and in the best interests of the Company.” – President & CEO Dan McConnell.