BCE renews one-year normal course issuer bid for preferred shares

Chicago, Nov. 4 – BCE Inc. announced that the Toronto Stock Exchange accepted a notice of intention for BCE to renew a normal course issuer bid to purchase up to 10% of the public float of each series of its outstanding first preferred shares, according to a news release.

The issuer bid period will extend from Nov. 9 to Nov. 8, 2022, or an earlier date if BCE completes its purchase.

Under the issuer bid, BCE is authorized to repurchase 10% of the public float in respect of each series of preferred shares, up to the following amount of preferred shares:

• 799,890 of its 7,998,900 issued and outstanding series R shares;

• 212,826 of its 2,128,267 issued and outstanding series S shares;

• 587,013 of its 5,870,133 issued and outstanding series T shares;

• 807,929 of its 8,079,291 issued and outstanding series Y shares;

• 191,850 of its 1,918,509 issued and outstanding series Z shares;

• 1,139,719 of its 11,397,196 issued and outstanding series AA shares;

• 859,920 of its 8,599,204 issued and outstanding series AB shares;

• 1,002,799 of its 10,027,991 issued and outstanding series AC shares;

• 996,320 of its 9,963,209 issued and outstanding series AD shares;

• 651,291 of its 6,512,913 issued and outstanding series AE shares;

• 948,148 of its 9,481,487 issued and outstanding series AF shares;

• 897,953 of its 8,979,530 issued and outstanding series AG shares;

• 501,757 of its 5,017,570 issued and outstanding series AH shares;

• 953,504 of its 9,535,040 issued and outstanding series AI shares;

• 446,496 of its 4,464,960 issued and outstanding series AJ shares;

• 2,273,562 of its 22,735,621 issued and outstanding series AK shares;

• 225,407 of its 2,254,079 issued and outstanding series AL shares;

• 1,043,997 of its 10,439,978 issued and outstanding series AM shares;

• 105,472 of its 1,054,722 issued and outstanding series AN shares;

• 460,000 of its 4.6 million issued and outstanding series AO shares; and

• 920,000 of its 9.2 million issued and outstanding series AQ shares.

BCE will pay the prevailing market price at the time of acquisition for any preferred shares purchased, plus brokerage fees, and all preferred shares acquired will be canceled.

BCE is making this issuer bid because it believes that, from time to time, the preferred shares may trade in price ranges that do not fully reflect their value.

Under the current normal course issuer bid that expires on Nov. 8, BCE purchased the following numbers of shares:

• 1,100 of the series R shares at a weighted average price paid per security of C$12.8136;

• 1,600 of the series S shares at a weighted average price paid per security of C$13.3082;

• None of the series T shares;

• 2,200 of the series Y shares at a weighted average price paid per security of C$13.2455;

• None of the series Z shares;

• 1,200 of the series AA shares at a weighted average price paid per security of C$13.5317;

• 2,400 of the series AB shares at a weighted average price paid per security of C$13.2154;

• 1,700 of the series AC shares at a weighted average price paid per security of C14.4853;

• 7,100 of the series AD shares at a weighted average price paid per security of C$13.2945;

• 2,400 of the series AE shares at a weighted average price paid per security of C$13.1138;

• 3,200 of the series AF shares at a weighted average price paid per security of C14.6953;

• 500 of the series AG shares at a weighted average price paid per security of C$13.0260;

• 2,400 of the series AH shares at a weighted average price paid per security of C$13.1488;

• None of the series AI shares;

• None of the series AJ shares;

• 10,300 of the series AK shares at a weighted average price paid per security of C$12.1929;

• None of the series AL shares;

• 4,000 of the series AM shares at a weighted average price paid per security of C$12,9874;

• 1,300 of the series AN shares at a weighted average price paid per security of C$12.15;

• None of the series AO shares; and

• None of the series AQ shares.

BCE is a Montreal-based communications company.

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