Oppenheimer Holdings Inc. (NYSE: OPY) today announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 530,000 shares of the Company’s Class A non-voting common stock, representing approximately 4.2% of its 12,636,523 currently issued and outstanding shares of Class A non-voting common stock. This authorization will supplement the 98,625 shares that remain authorized and available under the Company’s previous share repurchase program covering up to 640,000 shares of the Company’s Class A non-voting common stock, which was announced on July 26, 2019, for a total of 628,625 shares authorized and available for repurchase. The share repurchase program is expected to continue indefinitely.

See the Company’s press release attached hereto as an exhibit for additional details.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01. Financial Statements and Exhibits.

(d) The following Exhibit is submitted herewith.

About OPPENHEIMER HOLDINGS INC. (NYSE:OPY)

Oppenheimer Holdings Inc. is a middle-market investment bank and service broker-dealer. The Company is engaged in a range of activities in the securities industry, including retail securities brokerage, institutional sales and trading, investment banking, research, market-making, trust services, and investment advisory and asset management services. Its segments are Private Client, which provides financial services in the United States; Asset Management, which offers investment advisory services to its retail and institutional clients; Capital Markets, includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading; Commercial Mortgage Banking, engaged in the business of originating and servicing Federal Housing Administration insured multifamily and healthcare facility loans and securitizing these loans into Government National Mortgage Association mortgage-backed securities.