Safran - Share Buyback for Cancellation

Paris, June 28, 2024 - Safran (Euronext Paris: SAF) announced a Euro 1 billion share buyback program in July 2023. This initiative aims to repurchase shares for cancellation during 2024 and 2025.

On June 28, 2024, Safran entered into an agreement with an investment services provider for the first tranche of this buyback. Safran will repurchase its own shares for up to Euro 250 million between July 1, 2024, and September 13, 2024. This action follows the authorization granted by the shareholders' General Meeting on May 23, 2024, which set the maximum purchase price at Euro 300 per share.

Safran is an international high-technology group specializing in aviation, defense, and space markets. The company has 92,000 employees and reported sales of 23.2 billion euros in 2023. Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.