Coface SA: Description of the 2025-2026 Share Buyback Program

Core Points - The 2025-2026 Share Buyback Program has been authorized by the Shareholders' Combined General Meeting on May 14, 2025, replacing the previous program established on May 16, 2024 [4][20]. - The program aims to enhance liquidity and support the market for the Company's stock, allocate shares to employees, and allow for share cancellations among other objectives [10][11]. Group 1: Program Authorization and Structure - The Board of Directors has been authorized to implement the new Share Buyback Program with the power to delegate responsibilities [6][20]. - The program will last for a maximum of eighteen months, concluding no later than November 13, 2026, unless renewed [20]. Group 2: Shareholding and Objectives - As of June 30, 2025, COFACE SA held 0.57% of its share capital, equating to 852,060 common shares, with specific allocations for liquidity and employee benefits [7]. - The objectives of the program include ensuring liquidity, allocating shares to employees, transferring shares upon exercise of rights, and potentially canceling purchased shares [10][11]. Group 3: Financial Parameters - The maximum percentage of shares that can be repurchased is capped at 10% of the total share capital, which translates to approximately 15,017,979 shares as of June 30, 2025 [12][15]. - The maximum purchase price per share is set at €30, excluding costs [16].