Ovintiv Renews Annual Share Buy-Back Program

The renewed authorization covers 10% of public float, alongside a 2026 commitment to return at least 60% of annual Non-GAAP Free Cash Flow.

Rhea-AI Summary

Ovintiv (OVV) received regulatory approvals to renew its annual share buyback program for purchases of up to 26,973,037 common shares. The authorization covers October 5, 2026, through October 4, 2027, and represents 10% of public float as of September 21, 2026. Ovintiv commits to returning at least 60% of annual Non-GAAP Free Cash Flow to shareholders in 2026 through base dividends and buybacks, within its 50%–100% capital allocation framework.

Under the existing program, purchases totaled 13,925,579 shares at a weighted average US$58.49 per share through September 30, 2026. Third-quarter purchases were 6,332,551 shares at a weighted average US$60.90. Ovintiv also renewed its automatic purchase plan for blackout periods. TSX purchases are limited to 54,135 shares daily, except block purchases; Ovintiv determines actual purchase volumes and timing.

7 points · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Buyback approval authorizes up to 26,973,037 shares from October 5, 2026, through October 4, 2027.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Shareholder returns committed at at least 60% of annual Non-GAAP Free Cash Flow for 2026, through dividends and buybacks.
• Minor point. Forward-looking: it has not happened yet and may not happen.Capital allocation framework commits 50%–100% of annual Non-GAAP Free Cash Flow to dividends and buybacks.
• Minor pointExisting-program repurchases reached 13,925,579 shares at weighted average US$58.49 through September 30, 2026.
• Minor pointThird-quarter 2026 repurchases totaled 6,332,551 shares at a weighted average US$60.90 per share.

2 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.Renewed automatic share purchase plan allows buybacks during regulatory restrictions and customary blackout periods.
• Minor pointCanadian regulatory exemption permits U.S.-market repurchases up to 10% of public float, within the aggregate program cap.

Negative

• Minor pointTSX daily purchases are limited to 54,135 common shares, other than block purchase exceptions.

News Explained

Under the renewed bid, shares Ovintiv acquires may be cancelled or returned to treasury as authorized but unissued shares, leaving the eventual treatment open.

Key Figures

2026 shareholder-return commitment: At least 60% of annual Non-GAAP Free Cash Flow Renewed NCIB authorization: Up to 26,973,037 common shares NCIB term: October 5, 2026–October 4, 2027 +5 more

2026 shareholder-return commitment

At least 60% of annual Non-GAAP Free Cash Flow

2026 capital allocation

Renewed NCIB authorization

Up to 26,973,037 common shares

Renewed normal course issuer bid

NCIB term

October 5, 2026–October 4, 2027

12-month purchase period

Authorized share limit

10% of public float

As of September 21, 2026, as calculated under TSX rules

Shares purchased under existing NCIB

13,925,579 common shares

Through September 30, 2026

Weighted average purchase price

US$58.49 per common share

Existing NCIB purchases through September 30, 2026

Third-quarter purchases

6,332,551 common shares

Third quarter of 2026

Third-quarter weighted average purchase price

US$60.90 per common share

Third quarter of 2026

Previous Buybacks Reports

1 past event · Latest: Sep 29

Same Type 1 event

1. Sep 29

   NCIB renewal

   24h Move

   -0.6%

   Prior renewal authorized up to 22,287,709 shares, equal to 10% of public float.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

normal course issuer bid, automatic share purchase plan, rule 10b-18, non-gaap free cash flow

4 terms

normal course issuer bid financial

"renew its normal course issuer bid ("NCIB") to purchase up to 26,973,037"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

automatic share purchase plan financial

"renewed its automatic share purchase plan ("ASPP") allowing it to purchase"

An automatic share purchase plan is a pre-arranged agreement that allows investors to buy a set amount of a company's shares at regular intervals without needing to make individual decisions each time. It helps investors steadily build their holdings over time, much like setting a recurring deposit into a savings account, making investing more disciplined and less influenced by short-term market fluctuations.

rule 10b-18 regulatory

"including Rule 10b-18 under the Securities Exchange Act of 1934"

Rule 10b-18 is a regulation that sets strict rules for how a company's executives and employees can buy back their own company's stock from the market. It helps ensure that these buybacks happen in a fair and transparent way, reducing the chance of market manipulation. This is important for investors because it offers protection against unfair practices and promotes confidence in the integrity of the stock market.

non-gaap free cash flow financial

"returning at least 60% of annual Non-GAAP Free Cash Flow to shareholders"

Non-GAAP free cash flow is a company’s reported cash generated from operations after paying for routine investments in property and equipment, adjusted by management to exclude or include certain items that aren’t part of standard accounting rules. Investors watch it as a practical measure of the cash a business has available for dividends, stock buybacks, debt repayment or reinvestment — like a household’s usable savings after adjusting for one-time or unusual expenses — but calculations vary between firms, so comparisons require caution.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Company Receives TSX Approval for Renewal of Normal Course Issuer Bid

DENVER, Oct. 1, 2026 /PRNewswire/ -- Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with Ovintiv's capital allocation framework, which commits to returning 50% to 100% of annual Non-GAAP Free Cash Flow to shareholders via the combination of base dividend payments and share buybacks. For 2026, Ovintiv has committed to returning at least 60% of annual Non-GAAP Free Cash Flow to shareholders.

The Toronto Stock Exchange ("TSX") has accepted Ovintiv's notice of intention to renew its normal course issuer bid ("NCIB") to purchase up to 26,973,037 common shares during the 12-month period commencing October 5, 2026, and ending October 4, 2027. The number of shares authorized for purchase represents 10 percent of Ovintiv's public float as of September 21, 2026, as calculated pursuant to TSX rules. Purchases will be made on the open market through the facilities of the TSX, New York Stock Exchange ("NYSE"), other designated exchanges and/or alternative trading systems in Canada and the United States at the market price at the time of acquisition, as well as by other means permitted by stock exchange rules and securities laws including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

Ovintiv has also renewed its automatic share purchase plan ("ASPP") allowing it to purchase common shares under the NCIB when Ovintiv would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods. Pursuant to the ASPP, Ovintiv will provide instructions during non-blackout periods to its designated broker, which may not be varied or suspended during the blackout period. Purchases by Ovintiv's designated broker will be in accordance with applicable stock exchange rules and securities laws and the terms of the ASPP. All purchases made under the ASPP are included in computing the number of common shares purchased under the NCIB. The ASPP has been pre-cleared as required by the TSX.

The actual number of common shares that may be purchased under the NCIB and the timing of any such purchases will be determined by Ovintiv. The average daily trading volume through the facilities of the TSX, excluding purchases made on such facilities, for the six months ended August 31, 2026 was 216,540 common shares. Consequently, daily purchases through the facilities of the TSX will be limited to 54,135 common shares, other than block purchase exceptions. Purchases over the NYSE will be made in compliance with the volume limitations in Rule 10b-18 in relation to average daily trading volume and block trades. All common shares acquired by Ovintiv under the NCIB may be cancelled or returned to treasury as authorized but unissued shares.

Pursuant to its existing NCIB, under which Ovintiv received approval from the TSX to purchase up to 22,287,709 common shares during the 12-month period commencing October 3, 2025 and ending October 2, 2026, as of the close of trading on September 30, 2026, Ovintiv has purchased 13,925,579 common shares on the TSX, NYSE and alternative trading systems at a weighted average purchase price of US$58.49 per common share. In the third quarter of 2026, Ovintiv has purchased 6,332,551 common shares at a weighted average purchase price of US$60.90 per common share.

On June 5, 2025, Ovintiv renewed its exemption order (the "NCIB Exemption") from applicable Canadian regulators, permitting Ovintiv to make repurchases under the NCIB through the facilities of the NYSE and other United States-based trading systems in excess of 5 percent of Ovintiv's outstanding number of shares, the maximum allowable under applicable Canadian securities laws absent an exemption. The NCIB Exemption allows Ovintiv to repurchase up to 10 percent of Ovintiv's public float on such U.S. marketplaces provided that Ovintiv's aggregate repurchases on all marketplaces do not exceed this amount over the 12-month period of the NCIB, which is consistent with the maximum number of shares Ovintiv is able to purchase under the NCIB. The other conditions to the NCIB Exemption are outlined in Ovintiv's 2026 second quarter report on Form 10-Q filed on EDGAR and SEDAR+.

ADVISORY REGARDING FORWARD LOOKING STATEMENTS – This news release contains certain forward-looking statements or information (collectively, "FLS") within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. FLS include: our capital allocation framework and the planned share repurchase program, including the amount and number of shares to be acquired, the treatment of such shares following purchase, its anticipated timeframe and anticipated methods and location of purchases.

Readers are cautioned against unduly relying on FLS which, by their nature, involve numerous assumptions, risks and uncertainties that may cause such statements not to occur, or results to differ materially from those expressed or implied. These assumptions include: future commodity prices and differentials; foreign exchange rates; ability to access cash, credit facilities and shelf prospectuses; and expectations and projections made in light of, and generally consistent with, Ovintiv's historical experience and its perception of historical trends, including with respect to the pace of technological development, benefits achieved and general industry expectations.

Risks and uncertainties that may affect these business outcomes include: ability to generate sufficient cash flow to meet obligations and fund the NCIB; commodity price volatility; variability in the amount, number of shares, method, location and timing of purchases, if any, pursuant to the NCIB; fluctuations in currency and interest rates; and other risks and uncertainties impacting Ovintiv's business, as described in its most recent Annual Report on Form 10-K and as described from time to time in Ovintiv's other periodic filings as filed on EDGAR and SEDAR+.

Although Ovintiv believes the expectations represented by such FLS are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions, risks and uncertainties referenced above are not exhaustive. FLS are made as of the date of this news release and, except as required by law, Ovintiv undertakes no obligation to update publicly or revise any FLS. FLS contained in this news release are expressly qualified by these cautionary statements.

Further information on Ovintiv Inc. is available on the Company's website, www.ovintiv.com, or by contacting:

Investor contact:

(888) 525-0304

investor.relations@ovintiv.com

Media Contact:

(403) 645-2252

View original content to download multimedia:https://www.prnewswire.com/news-releases/ovintiv-renews-annual-share-buy-back-program-302895189.html

SOURCE Ovintiv Canada ULC

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares can Ovintiv buy under its renewed program, and when does it run?

Ovintiv may buy up to 26,973,037 common shares from October 5, 2026, through October 4, 2027. That authorization represents 10% of public float as of September 21, 2026. Ovintiv determines the actual number of shares purchased and the timing.

What is Ovintiv's shareholder return commitment for 2026?

Ovintiv commits to returning at least 60% of annual Non-GAAP Free Cash Flow to shareholders in 2026 through base dividends and share buybacks. Its capital allocation framework commits to annual returns of 50% to 100% of that measure.

What happens to shares Ovintiv buys under the renewed buyback program?

Common shares acquired under the program may be cancelled or returned to treasury as authorized but unissued shares.

How does Ovintiv's automatic buyback plan operate during blackout periods?

Ovintiv gives its designated broker instructions during non-blackout periods that cannot be varied or suspended during the blackout period. Broker purchases must follow applicable rules and the plan's terms. All automatic-plan purchases count toward the program's share purchase limit.