Emerging Technology

- S&P Dow Jones Indices ("S&P DJI") announced today preliminary S&P 500 ® stock buyback, or share repurchases, data for Q3 2021.

Historical data on S&P 500 buybacks are available at www.spdji.com/indices/equity/sp-500 .

Key Takeaways:

  • Q3 2021 share repurchases were $234.6 billion , increasing 18.0% from Q2 2021's $198.8 billion expenditure and up 130.5% from Q3 2020' $101.8 billion .
  • 309 companies reported buybacks of at least $5 million for the quarter , up from 294 in Q2 2021, and up from 190 in Q3 2020; 371 issues did some buybacks for the quarter, up from 360 in Q2 2020 and up from 290 in Q3 2020.
  • Buybacks remained top heavy with the top 20 issues accounting for 53.8% of Q3 2021 buybacks, down from Q2 2021's 55.7%, down from the dominating 77.4% in Q3 2020, and up from the pre-COVID historical average of 44.5%.
  • For the 12-month September 2021 period, buybacks were $742.2 billion , a 21.8% increase from $609.4 billion in the 12-month June 2021 period , and up 30.0% from $570.8 billion in the 12-month September 2020 period.
  • Buybacks are expected to continue at a higher level for Q4 2021 as companies continue to cover employee options with discretionary purchases resulting in an increase in share count reduction.
  • 7.4% of companies reduced share counts used for EPS by at least 4% year-over-year , up from Q2 2021's 5.4%, and down from Q3 2020's 9.6% period, and significantly down from Q3 2019's 22.8% rate.
  • S&P 500 Q3 2021 dividends increased 5.4% to a record $130.0 billion from Q2 2021's $123.4 billion and were 12.5% greater than the $115.5 billion in Q3 2020. For the 12-month September 2021 period, dividends were $498.9 billion , up 2.3% on an aggregate basis from the 12-month September 2020 period's $487.9 billion .
  • Total shareholder return of buybacks and dividends was a record $364.7 billion in Q3 2021, up 13.2% from Q2 2021's $322.2 billion and up 67.8% from Q3 2020's $217.3 billion .
  • Total shareholder return for the 12-month September 2021 period increased to $1.24 trillion from June 2021's $1.09 trillion and September 2020's $1.06 trillion .

"While companies bought back shares in record numbers in Q3 2021, their expenditures appear cautious when measured against their earnings and market value," said Howard Silverblatt , Senior Index Analyst at S&P Dow Jones Indices. "Additionally, the impact on share count remains significantly lower compared to previous years as higher stock prices have reduced the number of shares companies can buy back with their current expenditures. For the quarter, 248 companies reduced their share counts from Q2 2021, up from 238 in the prior quarter (90 in Q3 2020), but still far from the 322 in pre-COVID Q1 2020, as the year-over-year significant EPS boost from fewer shares remains low at 37 for Q3 2021 compared to 115 for the Q3 2019 period.

Remainder of 2021 Outlook, and into 2022:

Silverblatt added, "Companies are expected to increase expenditures, which is needed for the higher priced shares, but not enough to impact share count. Q4 2021 is expected to surpass the Q3 2021 $235 billion record, as is 2021, which would replace the annual record of $806 billion set in 2018. At this point, a slight market downturn or correction could also see additional buying, as companies with strong (and expected strong) cash-flow stock up on shares. The proposed 1% buyback tax is not expected to materially impact buybacks, as the average daily high/low spread is near that mark (0.97%), showing that timing (or dollar averaging) is just as important."

Q3 2021 GICS® Sector Analysis :

Information Technology continued to lead in buybacks, as Financials continue to gain (prior to COVID they were within 1% of each other).  In Q3 2021, IT's share declined to 28.2% of all S&P 500 buybacks compared to Q2 2021's 31.6%, and was down from Q3 2020's 48.9%, as expenditures increased (5.3%) to $66.1 billion from the prior quarter's $62.8 billion and was 32.8% higher than the Q3 2020 expenditure of $49.7 billion . For the 12-month September 2021 period, the sector spent $241.3 billion , representing 32.5% of all S&P buybacks, up from the prior 12-month period of $198.2 billion , which represented 34.7% of all buybacks.  For the 5-years, the sector spent $1.65 trillion , representing 28.4% of the expenditures.

Financial buybacks increased 48.2%, spending $61.9 billion in Q3 2021 representing 26.4% of all buybacks, up from the Q2 2021 $41.8 billion , which accounted for 21.0% of the buybacks. Financial sector buybacks were 410% higher than the Q3 2020 $12.1 billion expenditure, when the Fed limited buybacks. For the 12-month period, the group spent $152.7 billion , up from the prior period of $117.3 billion .

Consumer Staples decrease their buyback expenditures, down 8.9% to $16.2 billion , from the prior quarter's $17.8 billion and up from the Q3 2020 $7.6 billion .  As a percentage of all buybacks, the sector increased declined 6.9% of all buybacks from the prior quarter's 8.9%.

Consumer Staples decrease their buyback expenditures, down 6.5% to $8.3 billion , from the prior quarter's $8.9 billion and up from the Q3 2020 $4.2 billion .  As a percentage of all buybacks, the sector increased declined 3.6% of all buybacks from the prior quarter's 4.5%.

Issues:

The five issues with the highest total buybacks for Q3 2021 are:

  • Apple (AAPL) continued to be the poster child for buybacks as it again spent the most of any issue, with the Q3 2021 expenditure ranked eighth highest in S&P history. For the quarter, the company spent $20.5 billion , down 20.1% from Q2 2021's $25.6 billion . Apple holds 17 of the top 20 record quarters (QUALCOM holds #6, T-Mobile holds #18 and International Business Machines holds #20). For the 12-month period, Apple spent $92.5 billion on buybacks, up from the prior period's $76.0 billion . Over the five-year period, they have spent $348.3 billion and $487.6 billion over the ten-year period.
  • Alphabet (GOOG/L) was next: $15.0 billion for Q3 2021, up from $8.4 billion in Q2 2021; the 12-month September 2021 expenditure was $31.5 billion versus $8.7 billion for the 12-months ending September 2020 .
  • Meta Platforms, formerly Facebook (FB) : $12.6 billion for Q3 2021, down from $12.8 billion in Q2 2021; the 12-month expenditure was $44.7 billion versus $29.3 billion .
  • Oracle (ORCL) : $9.9 billion for Q3 2021, up from $4.2 billion in Q2 2021; the 12-month expenditure was $17.9 billion versus $14.5 billion .
  • Microsoft (MSFT): $8.8 billion for Q3 2021, up from $8.0 billion in Q2 2021; the 12-month expenditure was $25.0 billion versus $19.8 billion .

For more information about S&P Dow Jones Indices, please visit www.spdji.com .

S&P Dow Jones Indices








S&P 500, $ U.S. BILLIONS


(preliminary in bold)






PERIOD

MARKET

OPERATING

AS REPORTED





DIVIDEND &


VALUE

EARNINGS

EARNINGS

DIVIDENDS

BUYBACKS

DIVIDEND

BUYBACK

BUYBACK


$ BILLIONS

$ BILLIONS

$ BILLIONS

$ BILLIONS

$ BILLIONS

YIELD

YIELD

YIELD

12 Mo Sep,21

$36,538

$1,604.29

$1,483.50

$498.95

$742.21

1.37%

2.03%

3.40%

12 Mo Sep,20

$27,868

$1,021.75

$813.49

$487.91

$570.75

1.75%

2.05%

3.80%

2020

$31,659

$1,019.04

$784.21

$483.18

$519.76

1.53%

1.64%

3.17%

2019

$26,760

$1,304.76

$1,158.22

$485.48

$728.74

1.81%

2.72%

4.54%

2018

$21,027

$1,281.66

$1,119.43

$456.31

$806.41

2.17%

3.84%

6.01%










9/30/2021

$36,538

$441.51

$410.46

$130.04

$234.64

1.37%

2.03%

3.40%

6/30/2021

$36,325

$439.95

$409.02

$123.38

$198.84

1.33%

1.68%

3.01%

3/31/2021

$33,619

$401.19

$388.84

$123.91

$178.13

1.43%

1.48%

2.91%

12/31/2020

$31,659

$321.81

$265.00

$121.62

$130.59

1.53%

1.64%

3.17%

9/30/2020

$27,868

$314.06

$273.29

$115.54

$101.79

1.75%

2.05%

3.80%

6/30/2020

$25,637

$221.53

$147.44

$119.04

$88.66

1.93%

2.52%

4.45%

3/31/2020

$21,424

$161.64

$98.48

$126.98

$198.72

2.31%

3.37%

5.68%

12/31/2019

$26,760

$324.52

$294.29

$126.35

$181.58

1.81%

2.72%

4.54%

9/30/2019

$24,707

$330.42

$282.12

$123.12

$175.89

1.94%

3.12%

5.06%

6/28/2019

$24,423

$333.26

$290.00

$118.68

$165.46

1.93%

3.27%

5.20%

3/29/2019

$23,619

$316.56

$291.82

$117.33

$205.81

1.97%

3.49%

5.45%

12/31/2018

$21,027

$293.82

$242.91

$119.81

$222.98

2.17%

3.84%

6.01%

9/30/2018

$24,579

$349.04

$306.70

$115.72

$203.76

1.81%

2.93%

4.75%

6/30/2018

$23,036

$327.53

$288.55

$111.60

$190.62

1.89%

2.80%

4.69%

3/29/2018

$22,496

$311.26

$281.28

$109.18

$189.05

1.90%

2.56%

4.46%

12/29/2017

$22,821

$288.93

$230.12

$109.46

$136.97

1.84%

2.28%

4.12%

9/29/2017

$21,579

$268.35

$243.68

$105.45

$129.17

1.92%

2.40%

4.32%

S&P Dow Jones Indices










S&P 500 SECTOR BUYBACKS










SECTOR $ MILLIONS

Q3,'21

Q2,'21

Q3,'20

12MoSep,'21

12MoSep,'20

5-YEARS

10-YEARS

Q4,'18

Q2,'20









(high)

(recent low)

Consumer Discretionary

$20,553

$19,193

$3,247

$64,528

$37,270

$344,503

$737,907

$25,652

$1,317

Consumer Staples

$8,337

$8,912

$4,231

$35,599

$20,452

$176,356

$395,295

$9,588

$1,514

Energy

$2,974

$1,615

$66

$5,410

$9,012

$72,291

$222,239

$8,698

$60

Financials

$61,927

$41,777

$12,101

$152,693

$117,316

$699,756

$1,065,765

$45,641

$8,346

Healthcare

$16,170

$17,754

$7,551

$69,336

$59,105

$394,836

$730,856

$31,336

$10,706

Industrials

$17,567

$14,894

$3,442

$53,241

$36,212

$286,599

$588,119

$23,026

$1,816

Information Technology

$66,060

$62,758

$49,728

$241,262

$198,198

$1,037,980

$1,648,996

$61,298

$36,900

Materials

$5,252

$4,624

$785

$16,534

$8,637

$60,508

$127,528

$5,857

$184

Real Estate

$272

$42

$406

$1,473

$2,502

$13,548

$14,003

$1,480

$204

Communication Services

$35,230

$27,268

$17,316

$100,860

$78,552

$224,708

$261,355

$9,556

$27,548

Utilities

$299

$7

$2,914

$1,272

$3,496

$10,131

$17,755

$850

$67

TOTAL

$234,640

$198,843

$101,786

$742,209

$570,753

$3,321,214

$5,809,820

$222,980

$88,661











SECTOR BUYBACK MAKEUP %

Q3,'21

Q2,'21

Q3,'20

12MoSep,'21

12MoSep,'20

5-YEARS

10-YEARS

Q4,'18

Q2,'20

Consumer Discretionary

8.76%

9.65%

3.19%

8.69%

6.53%

10.37%

12.70%

11.50%

1.49%

Consumer Staples

3.55%

4.48%

4.16%

4.80%

3.58%

5.31%

6.80%

4.30%

1.71%

Energy

1.27%

0.81%

0.06%

0.73%

1.58%

2.18%

3.83%

3.90%

0.07%

Financials

26.39%

21.01%

11.89%

20.57%

20.55%

21.07%

18.34%

20.47%

9.41%

Healthcare

6.89%

8.93%

7.42%

9.34%

10.36%

11.89%

12.58%

14.05%

12.07%

Industrials

7.49%

7.49%

3.38%

7.17%

6.34%

8.63%

10.12%

10.33%

2.05%

Information Technology

28.15%

31.56%

48.85%

32.51%

34.73%

31.25%

28.38%

27.49%

41.62%

Materials

2.24%

2.33%

0.77%

2.23%

1.51%

1.82%

2.20%

2.63%

0.21%

Real Estate

0.12%

0.02%

0.40%

0.20%

0.44%

0.41%

0.24%

0.66%

0.23%

Communication Services

15.01%

13.71%

17.01%

13.59%

13.76%

6.77%

4.50%

4.29%

31.07%

Utilities

0.13%

0.00%

2.86%

0.17%

0.61%

0.31%

0.31%

0.38%

0.08%

TOTAL

100.00%

100.00%

100.00%

100.00%

100.00%

100.00%

100.00%

100.00%

100.00%

S&P Dow Jones Indices








S&P 500 20 LARGEST Q3 2021 BUYBACKS, $ MILLIONS








Company

Ticker

Sector

Q3 2021

Q2 2021

Q3 20220

12-Months

12-Months

5-Year

10-Year

Indicated




Buybacks

Buybacks

Buybacks

Sep,'21

Sep,'20

Buybacks

Buybacks

Dividend




$ Million

$ Million

$ Million

$ Million

$ Million

$ Million

$ Million

$ Million

Apple

AAPL

Information Technology

$20,449

$25,595

$17,587

$92,527

$75,992

$348,272

$487,642

$15,312

Alphabet

GOOGL

Communication Services

$15,033

$8,434

$2,725

$31,532

$8,710

$66,167

$69,998

$0

Meta Platforms

FB

Communication Services

$12,610

$12,796

$7,897

$44,705

$29,343

$100,267

$105,740

$0

Oracle

ORCL

Information Technology

$9,914

$4,209

$114

$17,856

$14,510

$87,000

$98,051

$8,032

Microsoft

MSFT

Information Technology

$8,815

$8,045

$5,423

$24,992

$19,809

$100,488

$147,180

$6,057

JPMorgan Chase

JPM

Financials

$7,684

$7,177

$6,743

$28,326

$24,799

$95,727

$146,272

$18,637

Berkshire Hathaway

BRK.B

Financials

$7,632

$5,980

$8,973

$29,186

$17,755

$51,094

$51,161

$0

Bank of America

BAC

Financials

$5,318

$1,593

$9

$7,746

$11,124

$69,626

$104,233

$3,285

Charter Communications

CHTR

Communication Services

$5,286

$6,194

$0

$16,286

$13,268

$84,448

$108,960

$11,953

Union Pacific

UNP

Industrials

$3,666

$3,516

$3,361

$15,183

$9,173

$46,152

$47,093

$0

Lowe's

LOW

Consumer Discretionary

$3,628

$3,018

$30

$9,278

$3,347

$27,955

$36,004

$6,386

Home Depot,

HD

Consumer Discretionary

$3,469

$3,117

$0

$10,374

$3,847

$38,438

$69,917

$7,018

Morgan Stanley

MS

Financials

$3,284

$884

$1

$4,684

$2,248

$17,436

$38,132

$1,687

Procter & Gamble

PG

Consumer Staples

$3,071

$2,912

$1

$7,779

$3,333

$53,366

$67,956

$4,135

Citigroup

C

Financials

$2,969

$2,202

$1,544

$8,820

$8,274

$40,065

$60,675

$2,531

Walmart

WMT

Consumer Staples

$2,825

$3,136

$562

$12,442

$2,192

$25,053

$44,543

$2,262

HCA Healthcare

HCA

Health Care

$2,750

$3,000

$2,000

$11,759

$6,405

$35,872

$58,385

$8,447

Visa

V

Information Technology

$2,710

$1,668

$2

$4,956

$388

$9,272

$17,628

$1,071

Chubb

CB

Financials

$2,611

$916

$1,028

$8,011

$2,799

$15,417

$19,050

$1,360

Mastercard

MA

Information Technology

$2,596

$163

$7

$3,105

$245

$4,235

$5,414

$1,485

Top 20



$126,320

$104,555

$58,007

$389,547

$257,561

$1,316,350

$1,784,034

$99,658

S&P 500



$234,640

$198,843

$101,786

$742,209

$570,753

$3,321,214

$5,809,820

$568,697

Top 20 % of S&P 500



53.84%

52.58%

56.99%

52.48%

45.13%

39.63%

30.71%

17.52%

Gross values are not adjusted for float









S&P Dow Jones Indices




S&P 500 Q3 2021 Buyback Report







SECTOR

DIVIDEND

BUYBACK

COMBINED


YIELD

YIELD

YIELD

Consumer Discretionary

0.62%

1.25%

1.87%

Consumer Staples

3.18%

1.58%

4.76%

Energy

4.15%

0.49%

4.64%

Financials

1.98%

3.54%

5.52%

HealthCare

1.56%

1.35%

2.92%

Industrials

1.50%

1.69%

3.18%

Information Technology

0.83%

2.05%

2.88%

Materials

1.84%

1.64%

3.48%

Real Estate

2.48%

0.13%

2.60%

Communications Services

1.04%

3.11%

4.15%

Utilities

3.06%

0.13%

3.19%

S&P 500

1.45%

1.90%

3.35%

Uses full values (unadjusted for float)



Dividends based on indicated; buybacks based on the last 12-months ending Q3,'21

Share Count Changes



(Y/Y diluted shares used for EPS)

>=4%

Q3 2021

10.22%

7.41%

Q2 2021

11.02%

5.41%

Q1 2021

10.40%

5.80%

Q4 2020

9.02%

6.01%

Q3 2020

8.62%

9.62%

Q2 2020

8.60%

17.80%

Q1 2020

8.00%

19.60%

Q4 2019

7.63%

20.68%

Q3 2019

8.62%

22.85%

Q2 2019

7.98%

24.15%

Q1 2019

8.03%

24.90%

Q4 2018

8.45%

18.71%

Q3 2018

6.43%

17.67%

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

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SOURCE S&P Dow Jones Indices

News Provided by PR Newswire via QuoteMedia

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BlackBerry Provides Long-term Financial Targets

BlackBerry Limited (NYSE: BB; TSX: BB) today provided its long-term financial targets in connection with its annual analyst summit event.

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

The company released the following guidance:

  • Revenue Targets:

FY22

Actual

FY25

Target

FY27

Target

5-year
CAGR


$M

$M

$M

%

IoT*

178

307

443

20%

Cybersecurity

477

579

770

10%






Total BlackBerry**

655

886

1,213

13%






* Excludes potential revenue from BlackBerry IVY™


** Excludes revenue from Licensing & Other for comparability









The Company is targeting:

  • An average 100+ basis points increase in non-GAAP gross margin per year to FY27.
  • Non-GAAP operating margin of approximately 20% by FY27.
  • Investing approximately 30% of revenue on Research & Development in FY23.
  • To be modestly non-GAAP EPS and cashflow negative in FY23 due to investment plans.
  • To be approaching breakeven non-GAAP EPS and cashflow in FY24.
  • To generate positive non-GAAP EPS and cashflow beginning in FY25.

IoT:

  • IoT Serviceable Addressable Market (SAM) is expected to grow at approximately 8-12% per year from FY23 to FY26.
  • Revenue growth for the IoT business unit is expected to exceed the market growth rate resulting in an increase in market share above the current level of 26% in core automotive domains.
  • Revenue from production-based royalties is expected to grow faster than revenue from the pre-production design phase, increasing the portion of total revenue from royalties.
  • The SAM for BlackBerry IVY is expected to be approximately $800 million in FY25.
  • BlackBerry is targeting its first IVY design wins in FY23.

Cybersecurity:

  • The SAMs for endpoint security and managed cybersecurity services are expected to grow at 15% and 14%, respectively, per year to FY27.
  • Revenue for the Cybersecurity business unit, excluding UEM, is expected to grow with a 5-year CAGR of approximately 16% to FY27.
  • Churn in the UEM customer base is expected to negatively impact revenue and Annual Recurring Revenue (ARR) in FY23, but the impact is expected to become less significant from FY24 onwards.
  • Approximately 20% of the UEM customer base is in non-core verticals, and those customers, representing annual revenue in the region of $40 million , are exhibiting higher than average churn.
  • Approximately 64% of the Cylance customer base currently buys 1 Cylance module, and approximately 27% buy 2 modules. Management is targeting selling additional modules to these customers.

The presentation used during the financial session of the analyst summit, held at 4pm ET today, can be found on the BlackBerry.com/Investors website here .

A replay of the financial session will also be available on the BlackBerry.com/Investors website at approximately 8pm ET today.

This press release refers to certain non-GAAP measures. The company believes that these non-GAAP measures, which may be defined differently by other companies, explain the company's results of operations in a manner that allows for a more complete understanding of the underlying trends in the company's business. However, these measures should not be viewed as a substitute for those determined in accordance with GAAP.  For a reconciliation between the non-GAAP measures used in this presentation and measures determined in accordance with GAAP, and an explanation of why the company uses them, please see the company's annual report on Form 10-K, which is available on the EDGAR, SEDAR and BlackBerry.com websites.

For more information, follow @BlackBerry on Twitter , Facebook or LinkedIn and view the company's corporate video which highlights how BlackBerry addresses today's enterprise security challenges.

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 195M 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, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Investor Contact:
BlackBerry Investor Relations
+1 (519) 888-7465
investorrelations@blackberry.com

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@blackberry.com

This news release contains forward-looking statements within the meaning of certain securities laws, including under the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements regarding BlackBerry's plans, strategies and objectives including its expectations with respect to increasing and enhancing its product and service offerings.

The words "expect", "anticipate", "estimate", "may", "will", "should", "could", "intend", "believe", "target", "plan" and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by BlackBerry in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate in the circumstances, including but not limited to, BlackBerry's expectations regarding its business, strategy, opportunities and prospects, the launch of new products and services, general economic conditions, the ongoing COVID-19 pandemic, the Russia Ukraine conflict, competition, and BlackBerry's expectations regarding its financial performance.  Many factors could cause BlackBerry's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, risks related to the following factors: BlackBerry's ability to enhance, develop, introduce or monetize products and services for the enterprise market in a timely manner with competitive pricing, features and performance; BlackBerry's ability to maintain or expand its customer base for its software and services offerings to grow revenue or achieve sustained profitability; the intense competition faced by BlackBerry; the occurrence or perception of a breach of BlackBerry's network cybersecurity measures, or an inappropriate disclosure of confidential or personal information; the failure or perceived failure of BlackBerry's solutions to detect or prevent security vulnerabilities; BlackBerry's continuing ability to attract new personnel, retain existing key personnel and manage its staffing effectively; litigation against BlackBerry; BlackBerry's dependence on its relationships with resellers and channel partners; acquisitions, divestitures and other business initiatives; the impact of the COVID-19 pandemic; network disruptions or other business interruptions; BlackBerry's ability to foster an ecosystem of third-party application developers; BlackBerry's products and services being dependent upon interoperability with rapidly changing systems provided by third parties; BlackBerry's ability to obtain rights to use third-party software and its use of open source software; failure to protect BlackBerry's intellectual property and to earn expected revenues from intellectual property rights; BlackBerry being found to have infringed on the intellectual property rights of others;  the substantial asset risk faced by BlackBerry, including the potential for charges related to its long-lived assets and goodwill; BlackBerry's indebtedness; tax provision changes, the adoption of new tax legislation or exposure to additional tax liabilities; the use and management of user data and personal information; government regulations applicable to BlackBerry's products and services, including products containing encryption capabilities; environmental, social and governance expectations and standards; the failure of BlackBerry's suppliers, subcontractors, channel partners and representatives to use acceptable ethical business practices or comply with applicable laws; regulations regarding health and safety, hazardous materials usage and conflict minerals; foreign operations, including fluctuations in foreign currencies; adverse economic, geopolitical and environmental conditions; the fluctuation of BlackBerry's quarterly revenue and operating results; the volatility of the market price of BlackBerry's common shares; and rising inflation.

These risk factors and others relating to BlackBerry are discussed in greater detail in BlackBerry's Annual Report on Form 10-K and the "Cautionary Note Regarding Forward-Looking Statements" section of BlackBerry's MD&A (copies of which filings may be obtained at www.sedar.com or www.sec.gov ). All of these factors should be considered carefully, and readers should not place undue reliance on BlackBerry's forward-looking statements. Any statements that are forward-looking statements are intended to enable BlackBerry's shareholders to view the anticipated performance and prospects of BlackBerry from management's perspective at the time such statements are made, and they are subject to the risks that are inherent in all forward-looking statements, as described above, as well as difficulties in forecasting BlackBerry's financial results and performance for future periods, particularly over longer periods, given changes in technology and BlackBerry's business strategy, evolving industry standards, intense competition and short product life cycles that characterize the industries in which BlackBerry operates. Any forward-looking statements are made only as of today and the company has no intention and undertakes no obligation to update or revise any of them, except as required by law.

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SOURCE BlackBerry Limited

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BlackBerry and Magna Collaborate on Next-Generation Advanced Driver Assistance System Solutions for Global Automakers

BlackBerry Limited (NYSE: BB; TSX: BB) and Magna International Inc. (TSX: MG; NYSE: MGA) have entered into a multi-year agreement to collaborate on various integrated Advanced Driver Assistance Systems (ADAS) solutions.

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

With OEMs launching vehicles with ever expanded feature sets, the global ADAS market is set for significant growth over the next decade.

As part of the agreement, BlackBerry will provide Magna with QNX software including the QNX Software Development Platform , QNX OS for Safety , QNX Platform for ADAS , as well as professional engineering services for system-level integration, performance optimization, and solution validation.

"Magna's ADAS expertise and unique ability to integrate system solutions into various vehicle applications gives us a competitive advantage," said Sharath Reddy , Senior Vice President Magna Electronics.  "Additionally, collaborating with companies like with BlackBerry helps us with speed to market."

"It's a great pleasure to work with another Canadian company – and global market leader in the automotive market. Our collaboration brings together both company's software and functional safety strengths as part of a platform that is already being delivered to multiple global OEMs," said John Wall , SVP and Co-Head, BlackBerry Technology Solutions. "With software now being a driving force in the automotive industry, delivering compelling solutions that are seamlessly integrated into a vehicle allows OEMs to differentiate themselves.  We are excited to be working with Magna, a fast-moving company on the cutting edge of ADAS, as the technologies undergo rapid adoption and expansion driven by a number of regulatory mandates that are on the horizon."

For more information on how BlackBerry QNX can help with building the safe and secure vehicles of tomorrow, please visit: BlackBerry.QNX.com .

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 195M 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 security, endpoint management, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY, EMBLEM Design and QNX are the trademarks or registered trademarks of BlackBerry Limited, its subsidiaries and/or affiliates, used under license, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

ABOUT MAGNA

Magna is more than one of the world's largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 343 manufacturing operations and 91 product development, engineering and sales centers spanning 28 countries.

For further information about Magna, please visit www.magna.com or follow us on Twitter @MagnaInt.

Media Contact:

BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com

Magna Media Relations
Tracy Fuerst , Vice President, Corporate Communications and PR
+1 (248) 761 7004
tracy.fuerst@magna.com

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SOURCE BlackBerry Limited

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