Ms. Katie Hatfield reports

BELL ANNOUNCES OFFERING OF SERIES US-8 NOTES

BCE Inc.'s Bell Canada has arranged an offering in the United States of $850-million (U.S.) aggregate principal amount of notes in one series. The $850-million (U.S.) 5.100 per cent Series US-8 notes will mature on May 11, 2033, and will be issued at a price of $99.930 (U.S.) per $100 (U.S.) principal amount for a yield to maturity of 5.109 per cent. The notes are being publicly offered in the United States through a syndicate of underwriters. Closing of the offering of the notes is expected to occur on May 11, 2023, subject to customary closing conditions. The notes will be fully and unconditionally guaranteed by BCE.

Bell intends to use the net proceeds from the U.S. offering for the repayment of short-term debt and other general corporate purposes.

The U.S. offering is being made in the United States pursuant to a prospectus supplement dated May 8, 2023, to Bell's short form base shelf prospectus dated March 7, 2022, filed with the Securities and Exchange Commission as part of an effective shelf registration statement on Form F-10. The notes are not being offered in Canada or to any resident of Canada.

Copies of the short form base shelf prospectus and the prospectus supplement relating to the offering of the notes filed with securities regulatory authorities in the United States may be obtained from the investor relations department of Bell Canada at Building A, eighth floor, 1 Carrefour Alexander-Graham-Bell, Verdun, Que., H3E 3B3 (telephone 1-800-339-6353). Copies of these documents are also available electronically on SEDAR of the Canadian Securities Administrators or on EDGAR administered by the U.S. Securities and Exchange Commission.

We seek Safe Harbor.