Outokumpu Oyj repurchased 426,341 own shares as Part of EUR 50 Million Buyback Program

Outokumpu Oyj repurchased 426,341 own shares as Part of EUR 50 Million Buyback Program

(IN BRIEF) Outokumpu, a leading stainless steel producer, has successfully completed its share repurchase program, acquiring a total of 426,341 shares across multiple trading venues at an average price of EUR 3.98 per share, totaling EUR 1,697,261.85. The buyback program, initially announced in November 2023, permitted the repurchase of up to 11 million shares with a budget of up to EUR 50 million and is set to conclude by March 21, 2024. With these transactions completed, Outokumpu now holds 31,354,927 treasury shares, reinforcing its commitment to enhancing shareholder value and optimizing its capital structure.

(PRESS RELEASE) HELSINKI, 6-Feb-2024 — /EuropaWire/ — Outokumpu, a global leader in sustainable stainless steel, announced the successful completion of its share repurchase program on February 5, 2024, in accordance with the following details:

Trading Venue:

• CEUX: 132,938 shares were repurchased at a weighted average price of EUR 3.9833 per share, totaling EUR 529,534.86.
• XHEL: 281,480 shares were repurchased at a weighted average price of EUR 3.9803 per share, totaling EUR 1,120,381.64.
• AQEU: 10,324 shares were repurchased at a weighted average price of EUR 3.9687 per share, totaling EUR 40,972.43.
• TQEX: 1,599 shares were repurchased at a weighted average price of EUR 3.9856 per share, totaling EUR 6,372.93.

Total:

• 426,341 shares were repurchased at an average price of EUR 3.98 per share, amounting to EUR 1,697,261.85.

(*All figures rounded to two decimals)

Outokumpu had previously announced its share buyback program, allowing for a maximum of 11 million shares to be repurchased, on November 29, 2023. This program received approval from the Board of Directors, operating under the authorization of the Annual General Meeting, with a total buyback value of up to EUR 50 million. The program is set to conclude no later than March 21, 2024.

Following the disclosed transactions, Outokumpu now holds a total of 31,354,927 treasury shares.

Detailed information regarding the specific transactions is available in the appendix accompanying this announcement.

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