Share buyback program

On 14 November 2018 the Company announced a share buyback program involving the repurchase from time to time of up to €300 million of ordinary shares, intended to optimize the Company’s capital structure.

The Program has been conducted in the framework of the resolution adopted by the Annual General Meeting of Shareholders held on 29 May 2018, which authorized the repurchase of up to a maximum amount of €500 million of ordinary shares during the 18 month period following the date of the AGM and up to a maximum number of shares not to exceed the limits set by law.

The total amount of shares bought back to date since the start of the program are 4,878,332 ordinary shares for a total consideration of around €269 million.