Singapore Reinsurance Corporation Limited commences an Equity Buyback Plan for 60,521,978 shares, representing 10% of its issued share capital, under the authorization approved on June 23, 2020.

Singapore Reinsurance Corporation Limited (SGX:S49) commences share repurchases on October 5, 2020, under the program mandated by the shareholders in the Annual General Meeting held on June 23, 2020. As per the mandate, the company is authorized to repurchase up to 60,521,978 shares, representing 10% of its issued share capital. In case of both an on market repurchases and off- market repurchases the maximum price that will be paid by the company for repurchases will not be more than 5% above the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded immediately preceding the date of offer by the company. The company intends to use internal sources of funds to finance the acquisition of shares. 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.