Butterfield introduced the Share Buy-back Programme in May 2012 and expanded it in December to allow for the repurchase of up to 10 million Common Shares. As at 31 December 2012, Butterfield had repurchased 7.3 million Common Shares under the Programme. With today’s announcement, the Bank’s Board has authorised the repurchase, at the Bank’s discretion, of up to 10 million additional Common Shares at market prices on the stock exchanges on which Butterfield Shares are listed.

The Bank’s Buy-back Programme for Preference Shares remains unchanged.

Butterfield has a primary listing on the Bermuda Stock Exchange, on which its Common Shares and Preference Shares trade actively. Butterfield maintains a secondary listing on the Cayman Islands Stock Exchange.