Altus Group Announces Preliminary Results of Substantial Issuer Bid

Executive Summary

• Altus Group announced preliminary results of its SIB, indicating it will purchase up to ≈2.85 million shares at C$57.00 per share for an aggregate price of roughly C$162.4 million (~6.59% of outstanding shares).
• No directors or executive officers participated; the bid was not extended and expired on Jan 8, 2026.
• After completion, Altus expects ~40.38 million shares to be issued and outstanding (net of escrowed shares).

Key Details

• Maximum Purchase Price: C$350 million total ceiling; actual preliminary purchase price set at C$57.00 per share.
• Shares Expected to Be Purchased: ≈2,849,643 shares at C$57.00 each → ≈C$162.43 million.
• Valid Tendered Shares: 6,561,903 shares (including proportionate tenders).
• Proportionate Tenders: Approximately 255,611 shares will be purchased to maintain shareholders’ pre‑bid ownership percentages.
• Shares Not Purchased: Remaining validly tendered shares will not be bought; no proration required because total tendered value < purchase capacity.
• Post‑Bid Share Count: Expected ~40,377,617 shares issued and outstanding (net of 79,328 escrowed shares).
• Director/Officer Participation: None of Altus Group’s directors or executive officers participated in the SIB.
• SIB Expiration: 5:00 p.m. Toronto time on Thursday, Jan 8, 2026; no extension elected.
• Future Steps: Final results will be released after verification by TSX Trust Company (Depositary) and completion of share take‑up and payment.

Notable Quotes

(No direct CEO/President quotes were included in the release.)