#United States #Denver #TSX #Ovintiv #share buy-back

Ovintiv Announces Renewal of Annual Share Buy-Back Program

DENVER, September 29, 2025 - Ovintiv Inc., trading under the NYSE symbol OVV and TSX symbol OVV, has officially announced the renewal of its annual share buy-back program, following the receipt of necessary regulatory approvals. This renewal aligns with Ovintiv's strategic objectives aimed at returning at least 50% of its post-dividend Non-GAAP Free Cash Flow back to shareholders, an essential aspect of its capital allocation strategy.

Details of the Renewal

The Toronto Stock Exchange (TSX) has accepted the company's notice to renew its normal course issuer bid (NCIB), allowing for the purchase of up to 22,287,709 common shares over the upcoming 12-month period, starting from October 3, 2025, and ending on October 2, 2026. This figure corresponds to 10% of Ovintiv's public float calculated as of September 26, 2025, in compliance with TSX regulations.

The shares will be acquired on the open market through TSX, NYSE, other designated exchanges, and alternative trading systems in both the United States and Canada, with purchases being made at market prices in effect at the time of acquisition. Additionally, other compliant methods defined by financial regulations will be utilized for share purchases.

Automatic Share Purchase Plan

As part of this initiative, Ovintiv has also renewed its Automatic Share Purchase Plan (ASPP), which facilitates share purchases under the NCIB during periods when such activities might otherwise be restricted due to regulatory limitations or self-imposed blackout intervals. Under the ASPP framework, the company will provide specified instructions to its broker during non-blackout periods, ensuring purchases continue seamlessly in compliance with required guidelines.

This ASPP will assist in efficiently managing the share buy-back process, adhering to the stipulations set out by stock exchange regulations, thereby supporting the objectives of the NCIB.

Purchase Specifications and Historical Context

The actual number of shares to be purchased and the timing will be determined by Ovintiv, taking into consideration market conditions. According to recent data, the average daily trading volume recorded through TSX was 185,256 common shares over the six months leading up to August 31, 2025. Consequently, daily purchases on the TSX are set to a limit of 46,314 shares, unless exceptions for block purchases apply.

In the previous cycle of the NCIB, which was approved for up to 25,920,545 common shares for the period from October 3, 2024, to October 2, 2025, Ovintiv successfully repurchased 7,836,011 shares at an average price of US$38.80 each.

The company is also benefitting from a renewed exemption order from Canadian regulators, which allows it to execute share buybacks through U.S. markets even if these exceed 5% of the outstanding shares—a maximum threshold set under Canadian securities laws without an exemption. This enables Ovintiv to repurchase up to 10% of its public float in U.S. exchanges, streamlined under the framework detailed in its quarterly reports.

Conclusion

The renewal of Ovintiv's share buy-back program not only marks a significant step towards enhancing shareholder value but also underscores the firm’s commitment to a disciplined financial strategy in capital allocation. As Ovintiv continues to adapt to market dynamics, the execution of this program will play a pivotal role in reinforcing investor confidence moving into 2026. For more details, stakeholders are encouraged to consult Ovintiv's official communication channels and regulatory filings.

Investors can look forward to further updates regarding the implementation timeline and specific share purchase activities as they unfold.