Kaufman & Broad SA: REPURCHASE OF 5.93 % OF THE COMPANY'S SHARE CAPITAL FROM ARTIMUS PARTICIPATIONS

  Press release

Paris, September 6th, 2023

Repurchase of 5.93 % of the Company's share capital from Artimus Participations

Kaufman & Broad (the “Company”) announces that it has concluded on 5 September 2023, under its share buy-back program, a share purchase agreement on a block of 1,251,000 shares of the Company from Artimus Participations at a price of 25.92 euros per share, i.e. at a discount of 2.0 % to today's closing price, representing a total investment of 32.4 million euros.

Artimus Participations, a company owned by current and former managers of the Company, including Mr. Nordine Hachemi, the Company’s Chairman and Chief Executive Officer, held prior to this transaction 11.01 % of the Company's share capital and 16.50 % of its voting rights.

Following the transaction and cancellation of the repurchased shares, Artimus Participations' stake in the Company will be reduced to 5.40 % of the Company's share capital and to 8.36 % of its voting rights. The proceeds from the sale will be used to repay Artimus Participations’ debt.

This transaction will result in all Company's shareholders benefiting from an accretive effect, without affecting the Company's investment capacity and while stabilizing the Company's shareholding.

This share buy-back was carried out using a limited amount of the Company's available cash. Settlement and delivery of the transaction should occur on the next few days.

The board of directors unanimously approved this transaction. Interested directors did not participate in the vote, in compliance with applicable regulations. Prior to the board meeting, cabinet Ledouble, appointed as independent expert, issued an opinion concluding that:

•from a financial point of view, the price of the repurchased shares is fair for the Company and its shareholders, regarding the value of the share based on a multi-criteria evaluation;

• the transaction does not affect the financial balances and the investment capacity of the Company;

• the transaction, carried out in the interest of the Company, will be accretive for its shareholders and will be subject to the related-party transactions approval process.

Following the transaction and cancellation of the repurchased shares, the group's employees remain key shareholders in the Company, directly or indirectly, with 12.2% of the Company’s share capital and 14.6% of its voting rights[1]. The Company's management also indicated its intention to remain a significant shareholder in the Company.

The transaction was realized pursuant to the delegations of authority granted by the 11th and 12th resolutions of the annual general meeting of shareholders held on 4 May 2023.

This press release is available at www.kaufmanbroad.fr

[1] Including the participation held by Artimus Participations and through the Kaufman & Broad shareholders’ mutual funds and KB shares mutual funds, as well as registered shares held by employees, especially from free share plans.