Outokumpu Successfully Concludes Share Repurchase Program, Acquiring 268,446 Shares

Outokumpu Successfully Concludes Share Repurchase Program, Acquiring 268,446 Shares

(IN BRIEF) Outokumpu, a prominent stainless steel producer, has successfully completed its share repurchase program, which began on November 29, 2023, and concluded on January 3, 2024. Authorized by the Board of Directors under the mandate of the Annual General Meeting, the program aimed to repurchase a maximum of 11 million shares, with a total allocation of up to EUR 50 million. The company acquired 268,446 of its own shares across various trading venues, with details of the transactions provided. Outokumpu now holds a total of 26,548,719 treasury shares as part of its strategic financial management.

(PRESS RELEASE) HELSINKI, 4-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, which commenced on November 29, 2023, and concluded on January 3, 2024. The program, authorized by the Board of Directors under the mandate of the Annual General Meeting, aimed to repurchase a maximum of 11 million shares, with a total allocation of up to EUR 50 million. The program officially ended, as scheduled, no later than March 21, 2024.

During the course of the share repurchase program, Outokumpu made significant transactions across various trading venues, resulting in the acquisition of 268,446 of its own shares. The details of these transactions, including the respective trading venues, the number of shares repurchased, the weighted average price per share, and the total cost in EUR, are outlined below:

• CEUX: 111,303 shares repurchased at an average price of EUR 4.2089, totaling EUR 468,459.14.
• XHEL: 156,676 shares repurchased at an average price of EUR 4.2114, totaling EUR 659,828.91.
• AQEU: 467 shares repurchased at an average price of EUR 4.203, totaling EUR 1,962.80.

In total, Outokumpu invested EUR 1,130,250.85 in the repurchase of its own shares, with all values rounded to two decimal places.

Following the disclosed transactions, Outokumpu now holds a total of 26,548,719 treasury shares, marking another significant step in the company’s strategic financial management.

The company extends its gratitude to its shareholders and stakeholders for their continued trust and support. Outokumpu remains dedicated to delivering value to its investors while actively managing its capital structure.

For further details and a complete breakdown of the transactions, please refer to the attached appendix.

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