BlackBerry Announces Completion of Partial Debt Refinancing

WATERLOO, CANADA – November 17, 2023 – BlackBerry Limited (NYSE: BB; TSX: BB) today confirmed that it has completed its previously-announced private placement of US$150 million aggregate principal amount of 1.75% extendable convertible unsecured debentures to certain controlled affiliates of Fairfax Financial Holdings Limited.  The debentures will mature on February 15, 2024, with an option for the parties to extend the maturity date to May 15, 2024, by mutual agreement.

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world.  The company secures more than 500M endpoints including over 235M vehicles.  Based in Waterloo, Ontario, the company leverages AI 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 endpoint management, endpoint security, encryption, and embedded systems.  BlackBerry’s vision is clear - to secure a connected future you can trust.

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