BlackBerry Announces Renewal of Normal Course Issuer Bid Share Buyback Program

BlackBerry Limited (NYSE:BB)(TSX:BB) received approval from the Toronto Stock Exchange (TSX) on May 8, 2026, to renew its normal course issuer bid (NCIB) share buyback program. The renewed program permits the repurchase of up to 26,785,714 common shares, representing approximately 4.58% of the outstanding public float as of April 30, 2026. Purchases can occur through the TSX, other Canadian exchanges, the New York Stock Exchange (NYSE), or alternative trading systems in Canada and the U.S. Additionally, BlackBerry may buy shares via private agreements or issuer bid exemption orders, subject to regulatory approval. As of April 30, 2026, BlackBerry had 586,061,407 common shares outstanding, with a public float of 584,830,432 shares. The average daily trading volume on the TSX for the six months ending April 30, 2026, was 2,255,303 shares, while daily purchases through the TSX will be capped at 563,825 shares, excluding block purchases. Under the existing program, which runs from May 12, 2025, to May 11, 2026, BlackBerry repurchased 18,136,158 shares at a weighted average price of US$3.85. The renewed NCIB will begin on May 12, 2026, and end on the earliest of May 11, 2027, a date BlackBerry may choose, or when the maximum share limit is reached. Shares bought under the NCIB will be canceled, while those acquired through issuer bid exemption orders will likely be purchased at a discount or near-market price through negotiations with third parties. BlackBerry stated that the buyback aligns with its capital allocation strategy and aims to address perceived undervaluation of its shares. The company emphasized that the buyback program will not impact its long-term strategy but provides flexibility to invest excess cash efficiently. BlackBerry also highlighted its strengthened balance sheet in fiscal 2026 and expects positive operating cash flow in fiscal 2027. The actual number of shares repurchased and the timing will depend on market conditions and regulatory constraints, with no guarantees on the final volume.