• Board action on Aug. 26, 2026 set a new USD 1.5 billion share repurchase program, effective immediately.
• New authorization replaced all prior buyback programs, leaving about USD 11 million under the May 2024 program.
• Repurchases may occur in the open market or via privately negotiated transactions, including potential block purchases from REH Advisors.
• Company can also buy shares to offset stock issued under compensation plans; board retains discretion to pause or end the program.

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