Kinaxis Announces Amendment to Maximize Size of Normal Course Issuer Bid

Executive Summary

• Kinaxis received TSX approval to amend its Normal Course Issuer Bid, increasing the maximum repurchasable shares from 1.4 million (5% of issued & outstanding shares) to 2.8 million (10% of public float).
• The amendment allows an additional potential investment of approximately US$284 million at the average price paid to date.
• To date, Kinaxis has invested US$54 million and repurchased 447,738 shares at an average price of C$167.50 per share.

Key Details

• Amendment Effective Date: March 11 2026.
• Maximum Shares Repurchasable: Increased to 2,799,843 shares (10% of public float as of Oct 31 2025).
• Previous Limit: 1,403,042 shares (5% of issued & outstanding shares).
• Additional Potential Investment: Approximately US$284 million based on the average price paid to date.
• Current NCIB Investment: US$54 million already invested under the existing program.
• Shares Already Repurchased for Cancellation: 447,738 shares at an average price of C$167.50 per share.
• Daily Purchase Cap: Not to exceed 14,137 shares per day (25% of average daily volume of 56,549 shares over the six months ended Oct 31 2025).
• Program Duration: Begins Nov 12 2025 and will end no later than Nov 11 2026.
• Automatic Share Repurchase Plan: Will be amended to reflect the increased share limit; pre‑cleared by TSX, allowing purchases even during blackout periods.

Notable Quotes

“There is a fundamental misunderstanding of the opportunities and threats from generative and agentic AI… We see value to shareholders in maximizing our ability to buy back Shares under the NCIB structure…” – Razat Gaurav, CEO, Kinaxis

Materiality Assessment: Material – Positive (the amendment substantially expands the company’s share repurchase capacity, indicating confidence in valuation and providing potential upside for shareholders).