Techtronic Industries Co. Ltd. (HKEX: 00669) has announced a significant share repurchase initiative.

The company has entered into an agreement with the independent broker HSBC, appointing the broker as its agent to execute an automatic share buyback program.

Under this program, HSBC is authorized to repurchase up to $500 million worth of the company's ordinary shares on the Hong Kong Stock Exchange.

The buyback will be conducted within pre-set parameters outlined in the broker agreement and is subject to relevant exchange rules, including HKEX Listing Rule 10.06(2)(a) and Guidance Letter 117-23.

The program is scheduled to commence on June 2, 2026, and will run for a period of up to eighteen months.

It will conclude on the earliest of three dates: the end of the eighteen-month period, when the total purchase price reaches $500 million, or if the program is terminated earlier according to the agreement's terms.

All share repurchases will be executed under the general mandate granted by shareholders, most recently approved at the company's Annual General Meeting held on May 8, 2026.