Mr. Mirko Bibic reports

BCE COMPLETES ACQUISITION OF ZIPLY FIBER, ACCELERATING ITS FIBRE GROWTH STRATEGY

BCE Inc. has successfully completed its acquisition of Ziply Fiber, the leading fibre Internet provider in the Pacific Northwest of the United States, for $5.0-billion ($3.65-billion (U.S.)) in cash, and the assumption of outstanding net debt of approximately $2.6-billion at closing.

To accelerate expansion into the U.S. market, BCE and PSP Investments announced earlier this year a strategic partnership to create Network FiberCo. Combined with the completion of the Ziply Fiber acquisition, this long-term strategic partnership will enable Bell to potentially reach up to eight million fibre locations in the U.S., reinforcing its position as the third-largest fibre Internet provider in North America.

The acquisition financing was supported by the proceeds of the sale of BCE's minority stake in MLSE completed on July 1, 2025. This transaction marked the conversion of BCE's passive interest in MLSE into a core business growth driver.

Ziply Fiber will operate as a separate business unit and will continue to be headquartered in Kirkland, Wash., with its existing management team and highly skilled work force in alignment with Bell's strategic priority of building the best fibre Internet networks. Together, Bell and Ziply Fiber will offer enhanced value for existing and new customers in both Canada and the United States as demand for faster, more reliable Internet continues to grow.

BCE will update its 2025 financial guidance targets to reflect the Ziply Fiber acquisition when it reports Q2 2025 results on Aug. 7.

Quotes

"The acquisition of Ziply Fiber marks a key milestone in our fibre growth strategy by establishing a significant foothold in the attractive U.S. market. By combining Bell's deep fibre expertise with Ziply Fiber's experienced management team and ambitious expansion plans, we are creating a powerful platform for long-term growth, scale and geographic diversification that positions us to unlock significant value for our shareholders," said Mirko Bibic, president and chief executive officer, BCE and Bell Canada.

"Bell's culture, vision and long-term strategy supports and amplifies our purpose to deliver the best and fastest fibre network with a refreshingly great customer experience. We're excited to accelerate and expand our fibre build to reach more communities and provide the connectivity and service they deserve," said Harold Zeitz, CEO, Ziply Fiber.

About BCE Inc.

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

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