Stellantis Approves Share Buyback Program

The Stellantis Board of Directors approved a share buyback program of up to €3 billion or $3.23 billion (total purchase price excluding ancillary costs) to be executed on the market.

Stellantis 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 Stellantis’ significant cash flow generation and strong balance sheet. These factors enable the Company to ensure adequate liquidity to manage various economic and market scenarios while simultaneously facilitating attractive capital returns to shareholders and supporting 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 10% of Stellantis’ capital. The remaining authorization granted on April 13, 2023, is 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 before the date the acquisition is made, as shown in the official price list of the NYSE, Euronext Milan, or Euronext Paris.

As of February 15, 2024, Stellantis held a total of 142,090,297 common shares in the treasury, 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.