Parex Resources Announces Approval of Normal Course Issuer Bid and Automatic Share Purchase Plan

Executive Summary

• Parex Resources Inc. received TSX approval to commence a normal‑course issuer bid (“Bid”) starting January 22 2026 and ending January 21 2027 (or earlier).
• The Bid permits the purchase and cancellation of up to 9,407,490 common shares – roughly 10% of the public float as of January 9 2026.
• Purchases will be made on the open market with a daily cap of 146,890 shares (≈25% of average daily volume) at prevailing TSX prices; all acquired shares will be cancelled.

Key Details

• Maximum Shares: 9,407,490 common shares (10% of public float).
• Bid Period: Commences January 22 2026; terminates January 21 2027 (or earlier at Parex’s option).
• Daily Purchase Limit: 146,890 shares (25% of average daily volume of 587,563 from July 1 2025‑Dec 31 2025).
• Purchase Price: Prevailing market price on the TSX at time of each purchase.
• Share Cancellation: All acquired shares will be cancelled immediately after purchase.
• Current Float (as of Jan 9 2026): 94,074,906 common shares outstanding; total issued 95,974,136.
• Prior Bid Activity: Under the previous bid (Jan 22 2025‑Jan 21 2026), Parex was authorized to buy 8,621,348 shares. It purchased 2,310,000 shares at a weighted‑average price of C$15.371 per share between Jan 22 2025 and Jan 9 2026.
• Rationale: Management believes the current market price does not fully reflect the company’s operational value and growth prospects; repurchasing shares is intended to increase remaining shareholders’ proportional interest and be advantageous to them.

Notable Quotes

(No direct quotes were provided in the release.)