Singapore Telecommunications Limited (SGX:Z74) commences share repurchases on August 16, 2021, under the program mandated by the shareholders in the Annual General Meeting held on July 30, 2021. As per the mandate, the company is authorized to repurchase up to 825,681,724 shares, representing 5% of its issued share capital. In case of both on and off market repurchases, the maximum price that will be paid by the company for repurchases will be 105% of the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded before the day on which such purchase is made. The company intends to use internal and external sources of funds to finance the repurchase program. The repurchased shares will be cancelled or held in treasury. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is carried out to the full extent, unless varied or revoked in a General Meeting.