Mr. Doug Moore reports

EVERTZ TECHNOLOGIES LIMITED ANNOUNCES TSX APPROVAL OF NORMAL COURSE ISSUER BID

Evertz Technologies Ltd. has sought and received acceptance from the Toronto Stock Exchange (TSX) to make a normal course issuer bid (NCIB) to purchase up to 3,802,024 of its outstanding common shares from time to time, in accordance with the normal course issuer bid procedures of the TSX and applicable Canadian securities laws.

Pursuant to the NCIB, Evertz may purchase for cancellation up to 3,802,024 of its outstanding common shares during the 12-month period commencing on Nov. 20, 2023, and ending on Nov. 19, 2024. The total aggregate number of common shares which Evertz may purchase pursuant to NCIB represents approximately 5 per cent of the 76,040,496 issued and outstanding common shares of Evertz as at Oct. 31, 2023.

The price which Evertz will pay for any common shares purchased under the NCIB will be the market price at the time of such purchase. All purchases of common shares by Evertz will be made through the facilities of TSX or alternative trading systems in Canada. All purchased shares will be cancelled.

Other than as otherwise permitted pursuant to once-a-week block purchases in accordance with TSX rules, Evertz may purchase up to 2,959 common shares per day, which represents approximately 25 per cent of Evertz's average daily trading volume of 11,839 common shares for the period beginning on May 1, 2023, and ending on Oct. 31, 2023.

Evertz believes that its common shares currently trade in a price range that does not adequately reflect their underlying value based on Evertz's business and strong financial position. As a result, depending upon future price movements and other factors, Evertz believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its corporate funds. Pursuant to a previous notice of intention to conduct an NCIB, Evertz sought and received approval from the TSX to purchase up to 3,809,810 of its common shares, during the period of Nov. 14, 2022, through to Nov. 13, 2023. As of Oct. 31, 2023, Evertz purchased 200,706 common shares on the open market at an average purchase price of $12.20 under the previous NCIB.

To the knowledge of Evertz, no director, senior officer or other insider of Evertz currently intends to sell any common shares under the NCIB. However, sales by such persons through the facilities of the TSX, or other eligible designated exchanges and alternative trading systems in Canada, may occur if the personal circumstances of any such person change or any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased.

Evertz expects to enter into predefined automatic securities purchase plans (ASPP) with its appointed purchasing broker from time to time during the course of the NCIB.

About Evertz Technologies Ltd.

Evertz Technologies designs, manufactures and markets video and audio infrastructure solutions for the television, telecommunications and new-media industries. The company's solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their increasingly complex multichannel digital, high- and ultrahigh-definition television, and next-generation high-bandwidth low-latency Internet protocol network environments and by telecommunications and new-media companies. The company's products allow its customers to generate additional revenue while reducing costs through efficient signal routing, distribution, monitoring and management of content, as well as the automation and orchestration of more streamlined and agile workflow processes on premise and in the cloud.

We seek Safe Harbor.