Share Buybacks

Commencing in 2021, Amerigo’s Board of Directors established a Payout Policy to return capital to shareholders through share repurchases and dividends.

Amerigo repurchases shares for cancellation through a combination of Substantial Issuer Bids and Normal Course Issuer Bids.

A Substantial Issuer Bid was completed in November 2021 under which Amerigo acquired 7,116,345 common shares at a price of Cdn$1.30 per share.

On December 2, 2021, Amerigo initiated a Normal Course Issuer Bid (“NCIB”) to repurchase for cancellation up to 10,750,000 common shares over a period of 12 months. On June 21, 2022, Amerigo announced the completion of the NCIB, with the retirement of 10,750,000 share at an average price of Cdn$1.62 per share. Given that Amerigo has already purchased the maximum number of securities permitted by the TSX under a NCIB in a 12-month period, it would only be able to commence another NCIB after December 2, 2022.

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