Outokumpu Boosts Treasury Holdings to 26.7 Million Shares Through Share Repurchase Initiative

Outokumpu Boosts Treasury Holdings to 26.7 Million Shares Through Share Repurchase Initiative

(IN BRIEF) Outokumpu, a stainless steel manufacturer, has successfully completed a share repurchase program, acquiring 184,454 of its own shares from various trading venues. The program, which was announced on November 29, 2023, allows for a maximum of 11 million shares to be bought back with a total allocation of up to EUR 50 million. The share repurchase program is set to conclude by March 21, 2024. Following these transactions, Outokumpu now holds 26,733,173 treasury shares, reflecting the company’s commitment to enhancing shareholder value and financial flexibility.

(PRESS RELEASE) HELSINKI, 5-Jan-2024 — /EuropaWire/ — Outokumpu (HEL: OUT1V), a global leader in sustainable stainless steel, is pleased to announce the successful completion of its share repurchase program, as per the following details (ISIN FI0009002422):

Trading Venue:

• CEUX: 87,216 shares
• XHEL: 96,763 shares
• AQEU: 475 shares

Weighted Average Price per Share (EUR):

• CEUX: 4.2083 EUR
• XHEL: 4.21 EUR
• AQEU: 4.159 EUR

Total Cost (EUR): 776,377.71 EUR (rounded to two decimals)

This initiative is in accordance with Outokumpu’s share buyback program, which was originally announced on November 29, 2023. The Board of Directors, operating under the authorization of the Annual General Meeting, approved the share buyback program with a maximum allocation of EUR 50 million. The program is set to conclude no later than March 21, 2024.

Following the completion of these transactions, Outokumpu now holds a total of 26,733,173 treasury shares.

For a comprehensive breakdown of the transactions, please refer to the appendix accompanying this announcement.

Outokumpu continues to demonstrate its commitment to enhancing shareholder value and maintaining financial flexibility through strategic initiatives like these share repurchases.

For more information:

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

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

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

SOURCE: Outokumpu Oyj