Stack Capital announces normal course issuer bid

Stack Capital (STCGF) Group announced that the Toronto Stock Exchange has accepted a notice filed by Stack Capital of its intention to make a normal course issuer bid with respect to its outstanding common shares. Stack Capital management believes its share price is undervalued compared to its recently announced Book Value per Share of $14.26. The notice provides that Stack Capital may, during the 12-month period commencing December 3, 2025, and ending no later than December 2, 2026, purchase through the facilities of the TSX and/or alternative Canadian Trading Systems up to 1,095,780 common shares in total, being 10% of the “public float” of common shares as of November 24, 2025. The price which Stack Capital will pay for any common shares will be the market price at the time of acquisition. During the period of this NCIB, Stack Capital may make purchases under the NCIB by means of open market transactions. The actual number of common shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by senior management of Stack Capital. The average daily trading volume from May 1, 2025, to October 31, 2025, was 18,222 common shares. Daily purchases under the NCIB will be limited to 4,555 common shares, other than block purchases. All shares purchased by Stack Capital under the NCIB will be cancelled. As of November 24, 2025, there were 13,184,816 common shares of Stack Capital outstanding, and the public float was 10,957,798 common shares.