Outokumpu Oyj repurchased 269,993 own shares as Part of EUR 50 Million Buyback Program

Outokumpu Oyj repurchased 269,993 own shares as Part of EUR 50 Million Buyback Program

(IN BRIEF) In a recent update, Outokumpu has successfully concluded its share repurchase program, acquiring a total of 269,993 shares across various trading venues. The buyback initiative, initially announced on November 29, 2023, authorized by the Annual General Meeting, aimed at repurchasing a maximum of 11 million shares or up to EUR 50 million. The program, which concluded on March 21, 2024, saw Outokumpu acquire shares at a weighted average price per share of EUR 4.09, amounting to a total cost of EUR 1,104,723.21. As a result, the company now holds 33,188,820 treasury shares. Further details of the transactions can be found in the appended announcement.

(PRESS RELEASE) HELSINKI, 1-Mar-2024 — /EuropaWire/ — Outokumpu, a global leader in sustainable stainless steel, announces the successful completion of its share repurchase program as of February 29, 2024. The company has repurchased its own shares across various trading venues, as outlined below (ISIN FI0009002422):

• CEUX: 103,109 shares at a weighted average price of EUR 4.0914, totaling EUR 421,855.91
• XHEL: 163,222 shares at a weighted average price of EUR 4.0921, totaling EUR 667,928.22
• AQEU: 1,037 shares at a weighted average price of EUR 4.0908, totaling EUR 4,242.17
• TQEX: 2,625 shares at a weighted average price of EUR 4.075, totaling EUR 10,696.90

The total repurchase amounts to 269,993 shares, at an average price of EUR 4.09, with a cumulative cost of EUR 1,104,723.21 (rounded to two decimals).

The share buyback program, initially announced on November 29, 2023, authorized the repurchase of a maximum of 11 million shares. Under the approval of the Annual General Meeting, the Board of Directors sanctioned a buyback program of up to EUR 50 million. This program remains active until March 21, 2024.

Following these transactions, Outokumpu now holds 33,188,820 treasury shares.

Details of transactions are included as an appendix to this announcement.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669

Media: Päivi Allenius, SVP – Communications and Brand, tel. +358 40 753 7374

Media desk, tel. +358 40 351 9840, e-mail media(at)outokumpu.com

SOURCE: Outokumpu Oyj