WildBrain announces normal course issuer bid

• WildBrain filed a notice with the Toronto Stock Exchange to commence a Normal Course Issuer Bid (NCIB).
• The company may repurchase up to 11,418,541 common shares, roughly 10 % of the public float as of 31 Mar 2026.
• The NCIB runs from 10 Apr 2026 to 9 Apr 2027 (or earlier if the share limit is reached).
• Daily purchase cap: 28,120 shares (≈25 % of six‑month average daily volume).
• Purchases will be made on‑market via Canaccord Genuity and cancelled immediately.
• No new financing or debt issuance is announced; the bid is funded from existing cash surplus generated after the Peanuts stake sale and debt repayment completed earlier in 2026.

Aspect	Assessment
Balance‑sheet effect	Neutral to slightly positive – the NCIB draws on the C$40 M+ cash surplus left after the Peanuts sale. No additional leverage is taken on.
Earnings / Cash flow	No direct impact on Q2 results; indirect benefit if share price rises, reducing dilution for existing shareholders.
Shareholder value	Positive – a 10 % float buy‑back can support price and improve earnings per share (EPS) by reducing the denominator. The daily cap is modest, limiting market disruption.
Market expectations	The NCIB was not previously disclosed; investors view it as a routine capital‑return move after the large debt‑free transaction in March. Hence impact is routine positive, not a game‑changer.
Risk / downside	Minimal – if share price stays below the daily cap, purchases will be spread over many months, limiting upside pressure. No new financing risk.

Overall, the announcement aligns with the post‑sale capital‑return strategy and does not materially alter the company’s longer‑term outlook.

WildBrain Ltd. creates, licenses and distributes children’s entertainment brands (e.g., Strawberry Shortcake, Teletubbies). The Peanuts stake was its largest non‑core asset; the 41 % sale to Sony in March 2026 eliminated senior secured debt and left a cash surplus for reinvestment. Post‑sale focus is on expanding wholly‑owned franchises and scaling the WildBrain CPLG licensing agency, plus growing digital content distribution (YouTube, FAST, AVOD).