An anonymous director reports

ATS ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange (TSX) has accepted a notice filed by ATS Corp. of its intention to make a normal course issuer bid (NCIB). As of Dec. 1, 2023, ATS had a total of 98,899,883 common shares issued and outstanding. Under the NCIB, ATS will have the ability to purchase for cancellation up to a maximum of 8,044,818 common shares, representing approximately 10 per cent of the public float of 80,448,183 common shares of the company that were issued and outstanding as of Dec. 1, 2023.

Purchases under the NCIB will be made through the facilities of the TSX and/or alternative Canadian trading systems, in accordance with applicable regulatory requirements, during the 12-month period commencing on Dec. 15, 2023, and ending on or before Dec. 14, 2024. The average daily trading volume of the common shares on the TSX for the six calendar months ended Nov. 30, 2023, was 173,395 common shares. On any given trading day, ATS will not purchase more than 25 per cent of such average daily trading volume, representing 43,348 common shares, except where such purchases are made in accordance with available block purchase exemptions. The common shares purchased under this NCIB will be cancelled.

Some purchases under the NCIB may be made pursuant to an automatic purchase plan that has been entered into between ATS and its broker. This plan will enable the purchase of ATS common shares when ATS would not ordinarily be active in the market due to internal trading blackout periods, insider trading rules or otherwise.

ATS believes that there are times when the market price of its common shares may not reflect their underlying value and that the purchase of shares by ATS will both provide liquidity to existing shareholders and benefit remaining shareholders. The NCIB is viewed by ATS management as one component of an overall capital structure strategy and complementary to its acquisition growth plans.

The NCIB follows the company's normal course issuer bid for the period ending Dec. 14, 2023. Under the 2022 NCIB, the company had obtained approval to purchase up to 7,335,032 common shares. The company's 2022 NCIB began on Dec. 15, 2022, and will end on Dec. 14, 2023. Under the 2022 NCIB, the company did not repurchase any common shares.

About ATS Corp.

ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services, including preautomation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, transportation, consumer products, food and beverage, and energy. Founded in 1978, ATS employs over 6,500 people at more than 60 manufacturing facilities and over 80 offices in North America, Europe, Asia and Oceania.

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