Tree Island Renews Normal Course Issuer Bid

Core Viewpoint - Tree Island Steel Ltd. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid to repurchase up to 1,290,000 common shares, which is approximately 5% of its issued and outstanding shares, with the bid period running from November 12, 2025, to November 11, 2026 [1] Group 1: Share Repurchase Details - The company plans to purchase shares through the TSX or any Canadian alternative trading system, with all repurchased shares to be cancelled [1] - As of October 31, 2025, Tree Island Steel had 25,909,295 common shares issued and outstanding, with a public float of 9,307,399 shares [2] - The maximum number of shares that can be purchased on any trading day is 2,177, which is 25% of the average daily trading volume over the previous six months [2] Group 2: Previous Share Repurchase Program - In the previous normal course issuer bid (2024 NCIB), Tree Island Steel acquired 108,571 common shares at a weighted average price of $2.5623 per share, with the program allowing for the purchase of up to 1,300,000 shares [3] - The 2024 NCIB is set to expire on November 10, 2025 [3] Group 3: Strategic Rationale - The board of directors has decided to renew the normal course issuer bid, believing that repurchasing shares at the current market price is a beneficial use of funds and in the best interests of the company and its shareholders [4] Group 4: Company Overview - Tree Island Steel, established in 1964 and headquartered in Richmond, British Columbia, produces a variety of wire products for industrial, residential, commercial, and agricultural applications [5] - The company's product offerings include galvanized wire, bright wire, fasteners, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products, marketed under various brand names [5]