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Kinaxis Announces Amendment to Maximize Size of Normal Course Issuer BidKinaxis® Inc. ("Kinaxis" or the "Company") (TSX: KXS) today announces that, further to its previously announced intention to maximize the size of its normal course issuer bid (the "NCIB"), it has received approval from the Toronto Stock Exchange (the "TSX") to amend (the "Amendment") the NCIB, effective on March 11, 2026 (the "Effective Date"), to increase the maximum number of common shares (the "Shares") that may be repurchased from 1,403,042, representing 5% of the Company's issued and outstanding Shares as at October 31, 2025, to 2,799,843, representing 10% of the Company's "public float" as at October 31, 2025, the maximum amount allowable under the rules of the TSX. No other terms of the NCIB have been amended. The Company has already invested US$54 million under its current NCIB. At the average price paid to date for the Shares under the current NCIB, repurchasing 10% of the Shares would represent an additional investment of approximately US$284 million. In its February 4, 2026 news release, Kinaxis highlighted the rationale for maximizing the NCIB, with Razat Gaurav, chief executive officer, stating, "There is a fundamental misunderstanding of the opportunities and threats from generative and agentic AI to mission-critical enterprise software, like ours, that solves deeply complex problems and enables highly consequential decisions. As a result, the public markets may not be fully reflecting the underlying value of Kinaxis from time to time. We see value to shareholders in maximizing our ability to buy back Shares under the NCIB structure or other structures that may also be available to Kinaxis. Our substantial moat in industry is built on decades of deep domain knowledge, and our Maestro platform represents the most granular and holistic representation of how underlying supply chains operate. Maestro's predictions, intelligence and prescriptive decisions are made possible by leveraging a fusion of advanced machine learning, optimization and heuristics. These capabilities are fundamental to supply chain planning and decision making and are enhanced, not replaced, by GenAI, composable agentic AI, and the latest semantic and data architectures to achieve the next generation of supply chain orchestration. We are excited about the possibilities." The NCIB, which began on November 12, 2025, and will end no later than November 11, 2026, is being conducted on the open market through the facilities of the TSX and/or alternative Canadian trading systems or by such other means as may be permitted by the applicable securities regulators. Except for block purchases permitted under the rules of the TSX, the number of Shares to be purchased per day under the NCIB will not exceed 14,137, which represents 25% of the aveage daily trading volume of the Shares on the TSX for the six calendar months ended October 31, 2025 (being 56,549 Shares). Kinaxis previously entered into an automatic share repurchase plan under which its designated broker will repurchase Shares pursuant to the NCIB, and the automatic plan, which will be amended as of the Effective Date to account for the Amendment, will continue to apply to the amended NCIB. The actual number of Shares purchased under the NCIB, including under the automatic plan, the timing of such purchases and the price at which Shares are purchased will depend upon future market conditions and will be determined by management of the Company, subject to applicable law and the rules of the TSX. The automatic plan, which was pre-cleared by the TSX, provides for the potential repurchase of Shares at any time, including when Kinaxis ordinarily would not be active in the market due to it being in a blackout period. Under the NCIB, to date, Kinaxis has repurchased for cancellation an aggregate of 447,738 Shares (at an average price of C$167.50 per Share).
About Kinaxis
Cautionary Note and Forward-Looking Information
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 4, 2026 for its fiscal year ended December 31, 2025 and other risks identified in the Company's filings with Canadian securities regulators, which filings are available on SEDAR+ at https://www.sedarplus.ca. The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information. SOURCE: Kinaxis Inc.
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