Mr. Andrew Tamlin reports

TWC ENTERPRISES LIMITED ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted a notice filed by TWC Enterprises Ltd. of its intention to make a normal course issuer bid through the facilities of the TSX or alternative Canadian trading systems.

The notice provides that TWC Enterprises may, during the 12-month period commencing Sept. 20, 2024, and ending Sept. 19, 2025, purchase up to 1,218,842 common shares in total, being approximately 5 per cent of the issued and outstanding common shares. The price that TWC Enterprises will pay for any such common shares will be the market price at the time of acquisition. Management of TWC Enterprises will determine the actual number of common shares that may be purchased and the timing of any such purchases.

Under the current normal course issuer bid due to expire Sept. 19, 2024, TWC Enterprises sought to purchase up to 1,228,055 common shares through the facilities of the TSX or alternative Canadian trading systems. TWC Enterprises purchased 205,200 common shares for cancellation under this bid at an average cost per share of $17.37. As of Sept. 12, 2024, there were 24,376,855 common shares outstanding. TWC Enterprises average daily trading volume for the prior six months is 927. Daily purchases will be limited to 1,000 common shares, other than block purchase exceptions.

TWC Enterprises believes that its common shares have been trading in price ranges which do not adequately reflect their value in relation to the business of TWC Enterprises and its future business prospects. As a result, depending upon future price movements and other factors, TWC Enterprises believes that its outstanding common shares may represent an attractive investment. Furthermore, the purchases are expected to benefit all persons who continue to hold common shares by increasing their proportionate interest in TWC Enterprises. All common shares purchased by TWC Enterprises under the normal course issuer bid will be cancelled.

About TWC Enterprises Ltd.

TWC Enterprises is engaged in golf club operations under the trademark "ClubLink one membership more golf." TWC Enterprises is Canada's largest owner, operator and manager of golf clubs with 45.5 18-hole equivalent championship and two 18-hole equivalent academy courses (including three managed properties) at 35 locations in Ontario, Quebec and Florida.