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 3,797,308 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 3,797,308 of its outstanding common shares during the 12-month period commencing on Nov. 27, 2024, and ending on Nov. 26, 2025. The total aggregate number of common shares which Evertz may purchase pursuant to NCIB represents approximately 5 per cent of the 75,946,165 issued and outstanding common shares of Evertz as at Nov. 13, 2024.

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 8,505 common shares per day, representing approximately 25 per cent of Evertz's average daily trading volume of 34,022 common shares for the period beginning on May 1, 2024, and ending on Oct. 31, 2024.

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 a NCIB, Evertz sought and received approval from the TSX to purchase up to 3,802,024 of its common shares during the period of Nov. 20, 2023, through to Nov. 19, 2024. As of Nov. 13, 2024, Evertz purchased 225,445 common shares on the open market at an average purchase price of $12.60 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.

In connection with the NCIB, Evertz may enter into an automatic share purchase agreement (ASPP) with its broker in relation to purchases made under the NCIB. The ASPP is intended to facilitate repurchases of common shares at times under the NCIB when Evertz would ordinarily not be permitted to make purchases due to regulatory restriction or customary self imposed blackout periods. Before the commencement of any particular trading blackout period, Evertz may, but is not required to, instruct its designated broker to make purchases of common shares under the NCIB during the ensuing blackout period in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by Evertz in accordance with the rules of the TSX, the applicable securities laws and the terms of the ASPP. All purchases of common shares made under the ASPP will be included in determining the number of common shares purchased under the NCIB. The ASPP will constitute an automatic securities purchase plan under applicable securities laws.

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-definition and ultrahigh-definition television, and next-generation, high-bandwidth, low-latency IP (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.