Popular, Inc. enters $231M accelerated share repurchase agreement

POPULAR, INC.

Initial payment of $231M on Aug 26, 2022; receives 2,339,241 shares initially.
Repurchase funded by $100M remaining from 2022 capital actions and $131M from EVERTEC sale.
Final settlement expected no later than Q4 2022, based on VWAP less discount.
Transaction accounted for as treasury stock transaction; adjustments to treasury stock and capital surplus.

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