BlackBerry announces NCIB share buyback program

BlackBerry (BB) has received acceptance from the Toronto Stock Exchange for a normal course issuer bid share buy back program. The program allows for the repurchase of up to 27,855,153 of its common shares, representing approximately 4.7% of the outstanding public float as of the close of business on May 5, 2025. Under the NCIB, BlackBerry can purchase its common shares through the TSX, other Canadian stock exchanges, the New York Stock Exchange, and/or alternative trading systems in Canada and the United States. Subject to regulatory approval, purchases of its common shares may also be made by BlackBerry by way of private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. Any BlackBerry common shares purchased through the NCIB will be cancelled. As of the close of business on May 5, 2025, BlackBerry had 597,096,623 common shares outstanding and the public float was 596,180,623 common shares. The average daily trading volume on the TSX for the 6 months ending on April 30, 2025 was 2,884,777 common shares. Daily purchases through the TSX will be limited to 721,194 common shares, other than block purchases. In the past 12 months, BlackBerry has not repurchased any of its outstanding securities. The NCIB will commence on May 12, 2025 and will terminate on the earliest of: May 11, 2026, such date as BlackBerry may determine, and the date on which the maximum number of common shares that may be purchased under this NCIB has been reached by BlackBerry. The purchase price of any common shares purchased by BlackBerry under the NCIB will be the market price at the time of acquisition. The purchase price of any common shares purchased by BlackBerry under issuer bid exemption orders issued by securities regulatory authorities will be determined through negotiations with arm’s length third parties and is expected to be at a discount to or around the market price.