Core Viewpoint - Altus Group Limited has initiated a substantial issuer bid (SIB) to repurchase up to C$350,000,000 of its common shares, believing the current market price does not reflect the company's fundamental value [1][3]. Summary by Sections Issuer Bid Details - The SIB will run from November 26, 2025, to January 8, 2026, unless modified [1]. - Shareholders can participate through a "modified Dutch auction" with three tender options: auction tender, purchase price tender, and proportionate tender [2]. - The price range for the shares is set between C$50.00 and C$57.00, representing a premium of 0.40% to 14.46% over the closing price on November 19, 2025 [4]. Shareholder Participation - Participation in the SIB is optional, allowing shareholders to choose how many shares to tender and at what price [5]. - Jarislowsky Fraser Global Investment Management, owning approximately 13.19% of shares, plans to make a proportionate tender to maintain its ownership [6]. Financial and Market Context - As of November 25, 2025, Altus Group had 3,222,129 shares issued and outstanding [7]. - The SIB will be funded using the company's cash on hand, reflecting its liquidity position [3][13]. Auction Process - The final purchase price will be determined based on valid tenders and will be the lowest price that allows Altus Group to purchase all shares tendered at or below that price [8][10]. - If the total purchase price exceeds the auction tender limit, shares will be purchased on a pro rata basis, with odd lot holders exempt from proration [10]. Documentation and Conditions - The formal offer documents detailing the SIB terms will be filed with Canadian securities authorities and made available on SEDAR+ [11]. - The SIB is not conditional on a minimum number of shares being tendered but is subject to customary conditions for such transactions [12]. Advisory and Management - RBC Capital Markets has been engaged as the financial advisor and dealer manager for the SIB [14]. - The Board has approved the SIB and its parameters, but does not recommend whether shareholders should tender their shares [15].

Core Points - Bread Financial Holdings, Inc. has initiated cash tender offers to purchase up to $150 million of its Senior Notes and Subordinated Notes [1] - The tender offers are subject to specific sublimits for each series of notes, with a maximum of $100 million for the 2029 Notes and $50 million for the 2035 Notes [1] - The tender offers will expire on August 21, 2025, with an early participation deadline on August 6, 2025 [2] Tender Offer Details - The total consideration for each $1,000 principal amount of notes will be determined through a modified "Dutch Auction" procedure [3] - Holders who tender their notes before the early participation deadline will receive an additional $50 for each $1,000 principal amount [3][11] - The expected final payment date for accepted notes is August 26, 2025 [3] Participation and Bidding - Holders can specify a minimum bid price for their notes, which must be within a defined range and in increments of $1.25 [4] - The aggregate principal amount of notes accepted may be subject to proration if the total validly tendered exceeds the applicable sublimits [6] Withdrawal and Conditions - Notes can be withdrawn until the withdrawal date of August 6, 2025 [7] - The tender offers are subject to various conditions that may be waived or modified by the company [8] Management and Agents - J.P. Morgan Securities LLC is the lead dealer manager for the tender offers, with several co-dealer managers assisting [9] - D.F. King, Inc. serves as the information and tender agent for the offers [9]

Core Points - Bread Financial Holdings, Inc. has initiated a cash tender offer to purchase up to $150 million of its 9.750% Senior Notes maturing in March 2029 [1] - The tender offer will expire on June 20, 2025, with an early participation deadline on June 4, 2025 [2] Tender Offer Details - The total consideration for each $1,000 principal amount of Notes will be determined through a modified "Dutch Auction" procedure, with an early participation amount of $50 for those who tender before the early participation deadline [3][4] - Holders can specify a minimum total consideration (Bid Price) they are willing to accept, which must be within a specified range of $1,040 to $1,080 [4] - The expected final payment date for accepted Notes is June 25, 2025 [3] Participation and Withdrawal - Holders may withdraw their tendered Notes until the withdrawal date of June 4, 2025 [7][8] - The Company reserves the right to amend, extend, or terminate the tender offer at its discretion [9] Company Overview - Bread Financial is a tech-forward financial services company providing personalized payment, lending, and saving solutions to U.S. consumers [15]