Tennant Okays Two Million Share Buy Back

MINNEAPOLIS – The Board of Directors of Tennant Company have authorized a new share repurchase program of up to 2,000,000 shares of its common stock, effective February 11, 2025.

“The Board's authorization of a 2,000,000 share repurchase program demonstrates our confidence in Tennant's strategic direction and our commitment to returning capital to shareholders,” said Dave Huml, Tennant President and CEO. “This initiative highlights our strong financial position and dedication to disciplined capital allocation, aiming to enhance shareholder returns while continuing to invest in growth opportunities.”

This authorization is in addition to approximately 580,000 shares remaining under the company’s current repurchase program. Share repurchases under these programs may be made through open-market and privately negotiated transactions from time to time and in amounts that management deems appropriate.

The timing of share repurchases will depend upon market conditions and other corporate considerations. Tennant has approximately 18,800,000 shares outstanding.

The stock is down approximately 14 percent in the past year.

Founded in 1870, Tennant Company, headquartered in Eden Prairie, Minn., is a manufacturer and of solutions that help create a cleaner, safer and healthier world. Tennant's global field service network is the most extensive in the industry.

The company had sales of $1.24 billion in 2023 and has approximately 4,500 employees. Tennant has manufacturing operations throughout the world and sells products directly in 21 countries and through distributors in more than 100 countries.

For more information, visit www.tennantco.com and www.ipcworldwide.com.