Stellantis Approves €3 Billion Share Buyback Program to Enhance Shareholder Value

Stellantis Approves €3 Billion Share Buyback Program to Enhance Shareholder Value

(IN BRIEF) Stellantis has announced the approval of a share buyback program worth up to €3 billion, reflecting the company’s robust financial position and commitment to delivering value to shareholders. The program, to be executed on the market, will involve the repurchase of common shares with the intention to cancel most of them, aside from a portion reserved for share-based compensation and employee stock purchase plans. The initiative, authorized by the general meeting of shareholders, underscores Stellantis’ confidence in its cash flow generation and balance sheet strength, providing flexibility to navigate economic uncertainties while enhancing shareholder returns. Stellantis will provide updates on the progress of the buybacks via its corporate website, ensuring compliance with relevant regulations and market conditions.

(PRESS RELEASE) AMSTERDAM, 15-Feb-2024 — /EuropaWire/ — The Stellantis Board of Directors approved a share buyback program of up to €3 billion (total purchase price excluding ancillary costs) to be executed on the market.

The Company intends to cancel the common shares acquired through the share buyback program apart from a portion of up to €0.5 billion, which may be used to service share-based compensation and employee stock purchase plans. The shares will be purchased over a period ending December 31, 2024 on NYSE / Euronext Milan / Euronext Paris and other multilateral trading facilities.

The opportunity to initiate the buyback program stems from the Company’s significant cash flow generation and strong balance sheet. These factors enable the Company to ensure adequate liquidity to manage a wide variety of economic and market scenarios, while simultaneously facilitating attractive capital returns to shareholders, and to support the extension of the employee stock purchase plan to several countries.

The share buyback program will be carried out under the authority granted by the general meeting of shareholders held on April 13, 2023, which may be renewed or extended, up to a maximum of 10% of the Company’s capital. The remaining authorization granted on April 13, 2023 stands at approximately 181 million shares. The purchase price per common share will be no higher than an amount equal to 110% of the market price of the shares on the NYSE, Euronext Milan or Euronext Paris. The market price will be calculated as the average of the highest price on each of the five days of trading prior to the date on which the acquisition is made, as shown in the official price list of the NYSE, Euronext Milan or Euronext Paris.

As of February 15, 2024, the Company held in treasury a total of 142,090,297 common shares equal to 3.52% of the total issued share capital including common shares and special voting shares.

Stellantis will provide updates on the start of buybacks and on the buyback program via a press release posted on the Investors section of the corporate website under “Stock and Shareholder Info”. The buybacks will be carried out subject to market conditions and in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

About Stellantis

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, while creating added value for all stakeholders. For more information, visit www.stellantis.com

Media Contacts:

communications@stellantis.com

Fernão SILVEIRA
+31 6 43 25 43 41
fernao.silveira@stellantis.com

Nathalie ROUSSEL
+33 6 87 77 41 82
nathalie.roussel@stellantis.com

SOURCE: Stellantis NV