Martinrea International Inc. Announces TSX Approval of Normal Course Issuer Bid

Core Viewpoint - Martinrea International Inc. has announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 7,110,571 common shares over a 12-month period, representing approximately 10% of its public float [1][2]. Group 1: NCIB Details - The NCIB is set to commence on or about May 27, 2025, and will terminate on May 26, 2026, or earlier if purchases are completed [2]. - Shares will be purchased at market price through the TSX and/or alternative Canadian trading systems, with a maximum daily purchase limit of 42,323 shares based on an average daily trading volume of 169,292 shares over the last six months [2]. - As of May 21, 2025, the total number of issued and outstanding common shares is 72,787,848 [2]. Group 2: Previous Share Repurchase - In the previous 12 months, Martinrea was authorized to repurchase up to 6,435,000 shares under a prior NCIB, which ran from May 2, 2024, to May 1, 2025 [3]. - The company successfully purchased 3,977,392 shares for cancellation at a weighted average price of approximately $11.25 during the prior NCIB [3]. Group 3: Company Rationale - The company believes that its shares may trade at a price that does not reflect their true value in relation to its activities and future prospects, making the repurchase an appropriate use of corporate funds for the benefit of remaining shareholders [4]. Group 4: Company Overview - Martinrea International Inc. is a diversified global automotive supplier involved in the design, development, and manufacturing of lightweight structures and propulsion systems, operating in 56 locations across various countries [5].