RB Global Expands Share Repurchase Program by $500M to $1 Billion Aggregate

Executive Summary

On September 15, 2026, RB Global, Inc. (NYSE: RBA; TSX: RBA) filed a Current Report on Form 8-K under Item 8.01 (Other Events) announcing that its Board of Directors authorized a $500 million increase to its previously established Normal Course Issuer Bid (NCIB) share repurchase program. The Toronto Stock Exchange (TSX) approved the amendment, expanding the program's total repurchase limit to $1.0 billion or up to 14,224,129 Common Shares (representing approximately 10% of the company's public float as of March 6, 2026).

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Key Program Terms & Background

• Original Program: Launched on March 18, 2026, allowing repurchase of up to the lesser of 10,000,000 shares (~7% of float) or US$500 million.
• Amended Program Limit: Lesser of 14,224,129 Common Shares or US$1,000,000,000.
• Execution to Date: As of September 11, 2026, RB Global had repurchased 5,363,497 shares at an average price of ~$93.22 per share (~$500M originally authorized near completion).
• Effective & Expiration Dates: The NCIB amendments become effective on September 17, 2026, and the program runs through March 17, 2027 unless completed earlier.
• Daily Purchase Limit: Up to 75,349 shares per day on the TSX (25% of TSX average daily trading volume for the 6 months ended February 28, 2026), subject to block trade exemptions.
• Cancellation: All shares acquired under the program will be canceled.

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Capital Allocation & Market Context

The doubling of the repurchase authorization underscores management's confidence in the company's long-term business trajectory, operational cash generation, and commitment to capital returns. Having deployed approximately $500M in repurchases within six months of launching the original NCIB, the expansion enables uninterrupted buyback activity through an automatic repurchase plan across both the TSX and NYSE.