Rogers raises $400-million debt buyback cap

An anonymous director reports ROGERS ANNOUNCES UPSIZING AND RESULTS OF ITS CASH TENDER OFFERS FOR CANADIAN DOLLAR DEBT SECURITIES Rogers Communications Inc. has released (i) the results of its previously announced separate offers to purchase for cash up to the maximum purchase amount (as defined in the offer to purchase dated July 11, 2025, relating to the notes) of its outstanding senior notes of the series listed in the attached table, and (ii) that it has amended the offers by increasing the maximum purchase amount from $400-million to an amount sufficient to accept all tendered (1) 4.25-per-cent senior notes due 2049, (2) 2.90-per-cent senior notes due 2030 and (3) 3.30-per-cent senior notes due 2029, in each case in full, and approximately $300-million principal amount of the 3.25-per-cent senior notes due 2029. The offers The offers were made upon the terms and subject to the conditions set forth in the offer to purchase. The offers expired at 5 p.m. (Eastern time) on July 18, 2025. According to information provided by TSX Trust Company, the tender agent, $2,168,414,000 combined aggregate principal amount of the notes were validly tendered in connection with the offers prior to or at the expiration date and not validly withdrawn at or prior to 5 p.m. (Eastern time) on July 18, 2025. The attached table provides certain information about the offers, including the aggregate principal amount of each series of notes validly tendered and not validly withdrawn prior to the withdrawal date. Expected accepted principal amounts The company expects to accept for purchase the following notes tendered into the applicable offer: $274.4-million aggregate principal amount of the 4.25-per-cent senior notes due 2049; $289.7-million aggregate principal amount of the 2.90-per-cent senior notes due 2030; $340.5-million aggregate principal amount of the 3.30-per-cent senior notes due 2029; $300.0-million aggregate principal amount of the 3.25-per-cent senior notes due 2029, on a pro rata basis, with the actual amount accepted to be adjusted for rounding due to proration. The company does not expect to accept any of the tendered 4.25-per-cent senior notes due 2032 or 3.65-per-cent senior notes due 2027. Pricing and settlement Pricing in respect of the notes is expected to occur at 11 a.m. (Eastern time) on July 21, 2025, following which the company will announce the offer yield (or its component parts) and the total consideration for each series of notes validly tendered that the company has accepted for purchase pursuant to the offers. The settlement date in respect of any notes validly tendered and accepted for purchase by the company pursuant to the offer for such notes is expected to be July 23, 2025, the third business day after the expiration date. The company will also pay an accrued coupon payment in respect of notes validly tendered and accepted for purchase by the company pursuant to the offer for such notes. Holders whose notes are accepted for purchase by the company pursuant to the offers will lose all rights as a holder of the tendered notes and interest will cease to accrue on the settlement date for all notes accepted in the offers. The company has retained Merrill Lynch Canada Inc. (BofA), RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc. to act as joint lead dealer managers for the offers. Questions regarding the offers should be directed to BofA at 888-292-0070 (toll-free) or 980-387-3907 (collect), RBC at 877-381-2099 (toll-free) or 416-842-6311 (local), Scotia at 1-416-863-7438 (collect), or TD at 1-866-584-2096 (toll-free) or 1-416-982-6451 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the offers. The TSX Trust Company is acting as tender agent for the offers. TMX Investor Solutions Inc. is acting as the information agent for the offers. If the company terminates any offer with respect to one or more series of notes, it will give prompt notice to the tender agent, and all notes tendered pursuant to such terminated offer will be returned promptly to the tendering holders thereof. With effect from such termination, any notes blocked in CDS will be released. About Rogers Communications Inc. Rogers is Canada's leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). We seek Safe Harbor.