An anonymous director reports

DYE & DURHAM ANNOUNCES PRELIMINARY RESULTS OF ITS SUBSTANTIAL ISSUER BID

Dye & Durham Ltd. has provided the preliminary results of its substantial issuer bid to purchase for cancellation up to $15.0-million of its common shares. The offer expired at 5 p.m. Eastern Time on June 16, 2023.

All of the terms and conditions of the offer have been complied with or waived and, based on a preliminary count by TSX Trust Company, Dye & Durham expects to take up and purchase for cancellation 882,352 common shares at a purchase price of $17 per common share, for aggregate consideration of approximately $15.0-million. The common shares expected to be purchased under the offer represent approximately 1.59 per cent of the issued and outstanding common shares on a non-diluted basis as at May 10, 2023, the date the offer was publicly announced. After giving effect to the offer, approximately 54,887,039 common shares are expected to be issued and outstanding.

The offer was made by way of a modified Dutch auction, which allowed shareholders who chose to participate in the offer to individually select the price, within a price range of not less than $17 per common share and not more than $20 per common share (in increments of 10 cents per common share), at which they were willing to sell their common shares.

Based on the depositary's preliminary count, approximately 5,087,250 common shares were tendered to the offer. As the offer was oversubscribed, shareholders who made auction tenders at $17 per common share and purchase price tenders are expected to have approximately 35.50 per cent of their successfully tendered common shares purchased by Dye & Durham, other than odd lot tenders, which are not subject to proration. Shareholders who made auction tenders at a price in excess of $17 per common share will have their common shares returned by the depositary.

The number of common shares to be purchased under the offer and the purchase price are preliminary, subject to verification by the depositary and assume that all common shares tendered through notices of guaranteed delivery will be delivered within the two-trading-day settlement period. Dye & Durham will announce the final results following completion of take-up of the common shares.

The full details of the offer are described in the offer to purchase and issuer bid circular dated May 12, 2023, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR.

About Dye & Durham Ltd.

Dye & Durham provides premier practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate transactions, and enables the essential payments infrastructure trusted by government and financial institutions. The company has operations in Canada, the United Kingdom, Ireland and Australia.

We seek Safe Harbor.