TECHTRONIC IND (00669) announced a $500 million share buyback plan and signed an agreement with HSBC Bank.

TECHTRONIC IND (00669) announcement that on June 1, 2026, the company entered into an agreement with the independent broker Hong Kong Shanghai HSBC Limited ("Broker") ("Broker Agreement"), under which the Broker or its affiliated companies (will become a Trading Participant (defined in the Listing Rules)) will, in accordance with the parameters set out in the Broker Agreement, repurchase company's ordinary shares ("Shares") not exceeding 5 billion US dollars on the Stock Exchange ("Automatic Share Repurchase Plan"). Under the Broker Agreement, the Broker will be irrevocably appointed as the company's broker and agent and will represent the company on the Stock Exchange for share repurchases in accordance with the terms of the Broker Agreement. The Automatic Share Repurchase Plan will be subject to the trading restrictions set out in Rule 10.06(2)(a) of the Listing Rules and Exchange Guidance Letter 117-23 ("Guidance Letter 117-23") (and others). The Automatic Share Repurchase Plan will come into effect on June 2, 2026 (including that day) ("Effective Date") and will end on the earliest of the following dates: (i) eighteen months from the Effective Date; (ii) when the total amount paid for repurchased shares reaches 5 billion US dollars; and (iii) when the Automatic Share Repurchase Plan is terminated early in accordance with the terms of the Broker Agreement. In addition, any share repurchases will be subject to a general authorization sought from shareholders at the company's annual general meeting, with the most recent general authorization for share repurchases granted at the company's annual general meeting on May 8, 2026.