Altus Group Announces Completion of Substantial Issuer Bid

TORONTO, Jan. 13, 2026 (GLOBE NEWSWIRE) -- Altus Group Limited (“Altus Group”) (TSX: AIF), a leading provider of commercial real estate (“CRE”) intelligence, today announced that it has taken up and paid for 2,855,696 of its common shares (“Shares”) at a price of C$57.00 per Share (the “Purchase Price”) under Altus Group’s substantial issuer bid (the “SIB”) to repurchase for cancellation a number of its Shares for an aggregate purchase price not to exceed C$350 million.

The Shares purchased under the SIB represent an aggregate purchase price of approximately C$162.77 million and approximately 6.61% of the total number of Altus Group’s issued and outstanding Shares (net of escrowed Shares and on a non-diluted basis) as of January 8, 2026. After giving effect to the SIB, Altus Group will have approximately 40,371,564 Shares issued and outstanding (net of 79,328 escrowed Shares).

Based on the final calculation by TSX Trust Company, acting as depositary for the SIB (the “Depositary”), a total of 6,561,903 Shares were validly tendered and not withdrawn. A total of 2,594,032 Shares were taken up and purchased pursuant to auction tenders at the Purchase Price and purchase price tenders. As the total value of Shares tendered was less than the total that could have been purchased by Altus Group under the terms of the SIB, all Shares validly deposited and not withdrawn under the SIB were purchased in accordance with their terms, and no proration was required. 261,664 Shares were taken up and purchased pursuant to proportionate tenders.

Payment and settlement of the purchased Shares will be effected by the Depositary on or about January 15, 2026 in accordance with the SIB and applicable law. Any Shares not purchased, including Shares invalidly tendered, will be returned to shareholders promptly by the Depositary.

The full details of the SIB are described in the offer to purchase and issuer bid circular dated November 26, 2025, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available under our profile on SEDAR+ at www.sedarplus.ca.

To assist shareholders in determining the tax consequences of the SIB, Altus Group reaffirms its estimate that for the purposes of the Income Tax Act (Canada), the paid-up capital per Share is approximately C$17.84. Given that the Purchase Price exceeds the paid-up capital per Share, shareholders who have sold Shares to Altus Group under the SIB will be deemed to have received a taxable dividend as a result of such sale for Canadian federal income tax purposes equal to the amount by which the Purchase Price exceeds the paid-up capital per Share. The dividend deemed to have been paid by Altus Group to Canadian resident persons is designated as an “eligible dividend” for purposes of the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.