Tucows arranges $40-million share buyback program

Executive Summary

• Tucows Inc. announced a new $40 million stock buyback program approved by its board of directors, replacing a previously terminated program.
• The new program is scheduled to run from February 13, 2026, to February 12, 2027, with purchases made exclusively through the Nasdaq Capital Market.
• Shares purchased under the program will be retired and returned to treasury, financed by available working capital and existing credit facilities.

Key Details

• Program Value: Up to $40 million of common stock.
• Duration: Commences February 13, 2026; terminates on or before February 12, 2027.
• Execution: Purchases will be made exclusively through the facilities of the Nasdaq Capital Market, potentially in large block purchases.
• Share Treatment: All purchased shares will be retired and returned to treasury.
• Discretionary Terms: Timing and exact number of shares are at Tucows' discretion, dependent on available cash and market conditions. The company may suspend or discontinue repurchases at any time.
• Restrictions: Tucows does not intend to purchase shares from management or other insiders. Repurchases may be suspended if Tucows is deemed to be making an acquisition of its own shares under Rule 13e-3 of the Securities Exchange Act of 1934.
• Funding Source: Financed from available working capital and existing credit facilities.
• Outstanding Shares: As of February 12, 2026, Tucows had 11,124,591 common shares outstanding.
• Previous Program: The previously announced $40 million buyback program (commencing February 14, 2025) has been terminated.