An anonymous director reports

BLACKBERRY ANNOUNCES PROPOSED PRIVATE OFFERING OF $160 MILLION OF CONVERTIBLE SENIOR NOTES

BlackBerry Ltd. intends to offer, subject to market and other conditions, $160-million aggregate principal amount of convertible senior notes due 2029 in a private offering. The notes will be offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended, and pursuant to prospectus exemptions in Canada and other jurisdictions. BlackBerry also expects to grant the initial purchasers of the notes the option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $25-million aggregate principal amount of the notes.

BlackBerry intends to use the net proceeds from the offering of the notes to finance the repayment or repurchase of its outstanding $150-million aggregate principal amount of 1.75 per cent extendible convertible unsecured debentures due Feb. 15, 2024, and the remainder, if any, for general corporate purposes.

The notes will be BlackBerry's general unsecured obligations, ranking senior to BlackBerry's obligations under the existing debentures. The notes will mature on Feb. 15, 2029, unless earlier converted, redeemed or repurchased. BlackBerry may satisfy any conversions of the notes by paying or delivering, as the case may be, cash, its common shares, or a combination of cash and its common shares, at BlackBerry's election (or, in the case of any notes called for redemption that are converted during the related redemption period, solely its common shares). The interest rate on, the initial conversion rate of, and other terms of the notes will be determined at the time of pricing of the offering.

The closing of the offering will be subject to customary conditions, including approval from the Toronto Stock Exchange.

About BlackBerry Ltd.

BlackBerry provides intelligent security software and services to enterprises and governments around the world. The company's software powers over 235 million vehicles. Based in Waterloo, Ont., the company leverages artificial intelligence and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of end point security management, encryption and embedded systems. BlackBerry's vision is clear -- to secure a connected future you can trust.

We seek Safe Harbor.