An anonymous director reports

BCE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID FOR PREFERRED SHARES

The Toronto Stock Exchange (TSX) has accepted a notice filed by BCE Inc. of its intention to renew its normal course issuer bid (NCIB) to purchase up to 10 per cent of the public float of each series of BCE's outstanding first preferred shares that are listed on the TSX. The period of the NCIB will extend from Nov. 11, 2024, to Nov. 10, 2025, or an earlier date should BCE complete its purchases under the NCIB. BCE will pay the prevailing market price at the time of acquisition for any preferred shares purchased, plus brokerage fees payable by BCE (except with respect to purchases made under an issuer bid exemption order, which will be at a discount to the prevailing market price), and all preferred shares acquired by BCE under the NCIB will be cancelled.

The actual number of preferred shares repurchased under the NCIB and the timing of such repurchases will be at BCE's discretion and shall be subject to the limitations set out in the TSX company manual.

The NCIB will be conducted through a combination of discretionary transactions and purchases under an automatic securities purchase plan through the facilities of the TSX as well as alternative trading systems in Canada, if eligible, or by such other means as may be permitted by securities regulatory authorities, including prearranged crosses, exempt offers, private agreements under an issuer bid exemption order issued by securities regulatory authorities and block purchases of preferred shares. Purchases made under an issuer bid exemption order will be at a discount to the prevailing market price.

Under the NCIB, BCE is authorized to repurchase shares of each respective series of the preferred shares (see an attached table).

BCE is making this NCIB because it believes that, from time to time, the preferred shares may trade in price ranges that do not fully reflect their value. BCE believes that, in such circumstances, the repurchase of its preferred shares represents an appropriate use of its available funds.

As of Oct. 31, 2024, under its current normal course issuer bid that commenced on Nov. 9, 2023, and will expire on Nov. 8, 2024, and for which the company received approval from the TSX, BCE purchased, through the facilities of the TSX and alternative eligible trading systems, the preferred shares listed in an attached table.

BCE will enter into an automatic securities purchase plan (ASPP) with a designated broker in relation to the NCIB on or about the commencement date of the NCIB. The ASPP will allow for the purchase of preferred shares, subject to certain trading parameters, at times when BCE ordinarily would not be active in the market due to applicable regulatory restrictions or self-imposed trading blackout periods. Outside of these periods, the preferred shares will be repurchased by BCE at its discretion under the NCIB.

About BCE Inc.

BCE is Canada's largest communications company, providing advanced Bell broadband Internet, wireless, television, media and business communication services.

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