Mullen Group Ltd. Announces Renewal of Normal Course Issuer Bid

Core Viewpoint - Mullen Group Ltd. has received approval for the renewal of its normal course issuer bid, allowing it to repurchase up to 8,929,176 common shares over the next year, which is approximately 10% of its public float [1][3]. Group 1: Normal Course Issuer Bid Details - The previous issuer bid, which started on March 11, 2025, allowed for the repurchase of up to 8,157,012 shares, with 748,080 shares repurchased for about $10.0 million as of February 28, 2026, at an average price of $13.40 per share [2]. - Under the renewed bid, the corporation can repurchase shares from March 11, 2026, to March 10, 2027, with the actual number of shares purchased to be determined by management [3]. - The maximum number of shares that can be purchased in one day is limited to 25% of the average daily trading volume, which amounts to 55,073 shares [4]. Group 2: Funding and Strategic Rationale - The repurchase will be financed from the corporation's working capital, and an automatic securities purchase plan has been established to facilitate purchases during blackout periods [5]. - The Board of Directors believes that the current market price does not reflect the underlying value of the corporation, making the shares an attractive investment opportunity [6]. Group 3: Company Overview - Mullen Group is a public company with a significant portfolio in the transportation and logistics sectors, offering a variety of services including less-than-truckload, customs brokerage, and specialized hauling [8]. - The corporation provides services related to energy, mining, forestry, and construction industries in western Canada, including water management and environmental reclamation [8].