Mr. Adhir Kadve reports

COVEO ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID AND AUTOMATIC SECURITIES PURCHASE PLAN

Coveo Solutions Inc.'s board of directors has authorized, and the Toronto Stock Exchange (TSX) has approved, Coveo's notice of intention to renew its normal course issuer bid (the NCIB) to purchase for cancellation up to 5,423,244 subordinate voting shares over the 12-month period commencing on July 17, 2025, and ending no later than July 16, 2026, representing approximately 10 per cent of the public float of the shares as at July 4, 2025. As at July 4, 2025, 55,730,805 shares were issued and outstanding, of which 54,232,443 constituted the public float.

The renewal of the NCIB follows on the conclusion of Coveo's previous normal course issuer bid which expires on July 16, 2025. Coveo had received the approval of the TSX to purchase up to 2,690,573 shares under the previous NCIB. From July 17, 2024, to July 16, 2025, Coveo purchased the full 2,690,573 shares authorized by the TSX under the previous NCIB, through open market purchases on the TSX and Canadian alternative trading systems, with shares purchased at a weighted average price of $6.43 per share.

The NCIB will be conducted through the facilities of the TSX or alternative Canadian trading systems and will conform to their regulations. shares will be acquired under the NCIB at the market price at the time of purchase. Purchases under the NCIB will be made by means of open market transactions, including through privately negotiated transactions or such other means as a securities regulatory authority may permit. In the event that the company acquires shares by other means as a securities regulatory authority may permit, the purchase price of the shares may be different than the market price of the shares at the time of the acquisition. Purchases made under an issuer bid exemption order will be at a discount to the prevailing market price as per the terms of the order.

Furthermore, under the NCIB, Coveo may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) at market price, in accordance with TSX rules. Under TSX rules, block purchases may not be made, directly or indirectly, from any insider of the company, including shareholders of Coveo holding more than 10 per cent of the shares or the multiple voting shares. Coveo will otherwise be allowed to purchase daily, through the facilities of the TSX, a maximum of 33,606 shares representing 25 per cent of the average daily trading volume, as calculated per the TSX rules for the six-month period starting on Jan. 1, 2025, and ending on June 30, 2025.

Coveo also announced today that, in connection with its intention to renew the NCIB, it has renewed its automatic share purchase plan (the ASPP) with a designated broker to allow for the purchase of its shares under the NCIB, once effective, at times when Coveo normally would not be active in the market due to applicable regulatory restrictions or internal trading blackout periods. Before the commencement of any internal trading blackout period, Coveo may, but is not required to, instruct its designated broker to make purchases of Coveo's shares under the NCIB during the ensuing blackout period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Coveo prior to commencement of the applicable blackout period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these blackout periods, shares will be purchasable by Coveo at its discretion under the NCIB, once effective. The ASPP constitutes an automatic securities purchase plan under applicable Canadian securities laws.

Coveo is renewing its NCIB as it provides it with a capital allocation alternative, with a view to continue to create long-term shareholder value. Coveo's board of directors and management believe that the market price of the shares may from time to time not reflect the underlying value of the shares, and purchases of shares for cancellation under the NCIB provides both (i) an opportunity to enhance shareholder value, as purchasing shares for cancellation through an NCIB increases each shareholder's relative equity interests in Coveo, and (ii) liquidity to selling shareholders in the market.

The actual number of shares purchased under the NCIB, the timing of purchases and the price at which the shares are purchased will depend on various factors, including Coveo's capital and liquidity positions, accounting and tax considerations, Coveo's operational performance, alternative uses of capital, the trading price of the shares on the TSX, and market conditions.

About Coveo Solutions Inc.

Coveo brings superior AI-Relevance to every point of experience, transforming how enterprises connect with their customers and employees to maximize business outcomes.

Relevance is about moving from persona to person, the degree to which the enterprise-wide content, products, recommendations and advice presented to a person on-line aligns easily with their context, needs, preferences, behaviour and intent, setting the competitive experience gold standard. Every person's journey is unique, and only AI can solve the complexity of tailoring experiences across massive, diverse audiences and large volumes and variety of content and products.

Its Coveo AI-Relevance platform enables enterprises to deliver hyperpersonalization at every point of experience, unifying all their data securely, with the highest level of contextual and prescriptive accuracy while simultaneously optimizing business outcomes.

Coveo brings AI-Relevance to the digital experiences of many of the world's premier and most innovative brands, serving millions of people across billions of interactions.

What the company believes is bold: Digital is everywhere. Relevance is not. It is the only way to win in the digital age.

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