Canadian Tire Corporation Announces Renewal of Normal Course Issuer Bid

TORONTO, March 9, 2026 /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) (CTC or the Company) announced today that the Toronto Stock Exchange (TSX) has approved the Company's notice of intention to renew its normal course issuer bid (NCIB) for its Class A Non-Voting Shares (Shares).

Under the NCIB approved by the TSX, the Company may repurchase up to 4,700,000 Shares between March 11, 2026 and March 10, 2027 (2026-27 NCIB), representing approximately 10% of the 47,075,805 public float of Shares issued and outstanding as at February 26, 2026. There were 49,283,531 total Shares issued and outstanding as at February 26, 2026.

The Company intends to repurchase Shares under the 2026-27 NCIB to implement its share repurchase intentions and to offset the dilutive effect of the issuance of Shares pursuant to its Dividend Reinvestment and Stock Option Plans, consistent with the Company's policy.

Repurchases of Shares pursuant to the 2026-27 NCIB will be made by means of open market transactions through the TSX and/or alternative Canadian trading systems, if eligible, at the market price of the Shares at the time of repurchase or as otherwise permitted under the rules of the TSX and applicable securities laws. Repurchases may also be made as otherwise permitted under applicable law, including by way of private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. Any private repurchase made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price.

Under the rules of the TSX, during the six months ended February 28, 2026, the average daily trading volume of the Shares on the TSX, net of repurchases made by the Company through the TSX, was 259,059, and, accordingly, daily repurchases on the TSX pursuant to the NCIB will be limited to 64,764 Shares, other than repurchases made pursuant to the block purchase exception. The Shares repurchased by the Company pursuant to the 2026-27 NCIB will be restored to the status of authorized but unissued shares.

The actual number of Shares which may be repurchased pursuant to the 2026-27 NCIB and the timing of such repurchases will be determined by management of the Company, subject to applicable law and the rules of the TSX.

Under the Company's normal course issuer bid which began on March 11, 2025, and expires on March 10, 2026 (2025-26 NCIB), the Company received approval to repurchase up to 4,900,000 Shares. As at February 28, 2026, the Company repurchased 3,074,096 Shares by means of open market transactions through the facilities of the TSX and alternative Canadian trading systems under the 2025-26 NCIB, at a volume weighted average price of $166.43 per Share.

The Company will also enter into an automatic securities purchase plan (ASPP) with a designated broker to facilitate repurchases of Shares under its 2026-27 NCIB at times when the Company would ordinarily not be permitted to repurchase its securities due to regulatory restrictions and customary self-imposed black-out periods. Repurchases made pursuant to the ASPP will be made by the Company's designated broker based upon the parameters prescribed by the TSX, applicable Canadian securities laws and the terms of the written agreement between the Company and its designated broker. The ASPP has been approved by the TSX and will be entered into on or about March 11, 2026, and terminate on the earliest of the date on which: (i) the repurchase limit under the 2026-27 NCIB has been reached; (ii) the 2026-27 NCIB expires; and (iii) the Company terminates the ASPP in accordance with its terms. The ASPP constitutes an "automatic securities purchase plan" under applicable Canadian securities laws.

Forward-Looking Information
This press release contains information that may constitute forward-looking information within the meaning of applicable securities laws, which reflect management's current expectations regarding future events. All statements other than statements of historical facts contained in this press release may constitute forward-looking information, including, but not limited to, information with respect to: the Company's intention to repurchase its Class A Non-Voting Shares, including the timing and manner thereof; the duration of the 2026-27 NCIB; and CTC's plans to enter into an ASPP. Forward-looking information provides insights regarding Management's current expectations and plans and allows investors and others to better understand the Company's anticipated financial position, results of operations and operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Often, but not always, forward-looking information can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "estimate", "plan", "can", "could", "should", "would", "outlook", "target", "forecast", "anticipate", "aspire", "foresee", "continue", "ongoing" or the negative of these terms or variations of them or similar terminology. Although the Company believes that the forward-looking information in this press release is based on information, estimates and assumptions that are reasonable, such information is necessarily subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking information. For information on the material risks, uncertainties, factors and assumptions that could cause the Company's actual results to differ materially from the forward-looking information, refer to section 16.0 (Caution Regarding Forward-Looking Information) of the Company's 2025 Fourth Quarter and Full-Year Management's Discussion and  Analysis and all subsections therein, available on the SEDAR+ website at http://www.sedarplus.ca and https://investors.canadiantire.ca. The Company does not undertake to update any forward-looking information, whether written or oral, except as is required by applicable laws.

About Canadian Tire Corporation

 Canadian Tire Corporation, Limited (TSX: CTC.A,  TSX: CTC, "CTC") has been a proudly Canadian business since 1922. Guided by its brand purpose, "We are here to make life in Canada better," CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada's strongest workforces – employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life's pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark's, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players. CTC's banners, brand partners and credit card offerings are unified through its Triangle Rewards loyalty program – a linchpin of CTC's customer-driven strategy. With more than 12 million members, Triangle integrates first-party data to deliver valuable rewards and personalized experiences across nearly 1,700 retail and gasoline outlets. CTC also operates a retail petroleum business and a Financial Services business and holds a majority interest in CT REIT, a TSX-listed Canadian real estate investment trust. For more information, visit Corp.CanadianTire.ca.

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Investors: Karen Keyes, [phone], [email protected]

SOURCE Canadian Tire Corporation, Limited