Coveo Renews Normal Course Issuer Bid for Share Repurchases

MONTREAL and SAN FRANCISCO – Coveo Solutions Inc. announced on Monday that its board of directors has authorized, and the Toronto Stock Exchange (TSX) has approved, the renewal of the company's normal course issuer bid (NCIB). Under the renewed bid, Coveo may purchase for cancellation up to 5,101,789 subordinate voting shares over a twelve-month period commencing July 17, 2026, and ending no later than July 16, 2027.

This repurchase authorization represents approximately 10% of the company's public float as of July 6, 2026. The renewal follows the conclusion of Coveo's previous NCIB, which expires on July 16, 2026. The company had purchased 3,912,990 shares under the prior bid at an average price of C$6.78 per share.

Share repurchases under the NCIB will be conducted through the facilities of the TSX or alternative Canadian trading systems at the prevailing market price at the time of purchase. Coveo may make block purchases once per week and is permitted to purchase a maximum of 58,808 shares daily, representing 25% of the average daily trading volume.

In connection with the NCIB, Coveo has also renewed its automatic securities purchase plan (ASPP) with a designated broker. This plan allows for share purchases under the NCIB at times when Coveo might otherwise be restricted from trading due to regulatory requirements or internal trading black-out periods.

The company stated that it is renewing the NCIB as a capital allocation alternative aimed at creating long-term shareholder value. Coveo believes that the market price of its shares may not always reflect their underlying value, and repurchasing shares increases each shareholder's relative equity interest and provides liquidity for selling shareholders.