Following changes to the regulations governing liquidity contracts and in accordance with AMF decision no. 2018-01 of 2 July 2018, a new liquidity contract was signedwith Oddo BHF and as at 28 March 2019, the liquidity account comprised€10,120,161 and 738,882 shares.
During the 2020 fiscal year, EDF acquired 8,226,451 of its own shares and sold 8,581,882 shares under the liquidity contract. The average share purchase price was €9.5748 and the average share sale price was €9.8023.
As at 31 December 2020, the Company held a total of 830,000 treasury shares, all held under the liquidity contract (representing 0.027% of its share capital).
On 19 December 2019, the Chairman and Chief Executive Officer, using the powers delegated by the Board of Directors, decided to reallocate 3,646,913 EDF shares initially allocated to the liquidity contract and 50,594 shares allocated to a 2007 offer reserved for employees that had lapsed, i.e. a total of 3,697,507 shares, with the aim of reducing the capital by cancelling the said shares. On 30 September 2020, following a decision by the Board of Directors on 29 July 2020, the 3,697,507 shares allocated to the capital reduction target were cancelled.
On this date, EDF’s subsidiaries did not hold any shares, either directly or indirectly.
Between 1 January 2021 and 28 February 2021, the Company acquired 1,501,540 treasury shares for an average unit value of €11.29178, and sold 928,715 shares for an average unit value of €11.51792.
Pursuant to Article 241-2 et seq. of the AMF general regulations and Article L. 451-3of the French Monetary and Financial Code, and in accordance with EU regulations, the following is a description of the share buyback programme that will be submitted to the Ordinary and Extraordinary Shareholders’ Meeting to be held on 6 May 2021for approval.
Under the share buyback programme, shares will be bought back for the following purposes:
The share buyback programme may be implemented for a period of 18 months, as of the Shareholders’ Meeting of 6 May 2021.
The maximum percentage of capital that may be bought back under this programme is 10% of the total number of shares making up the share capital (or 5% for shares acquired with a view to their retention and subsequent delivery in payment or in exchange as part of an external growth transaction), it being noted that whenever shares are bought back to provide liquidity under a liquidity contract, the 10%threshold will be calculated using the number of shares purchased, as reduced by the number of shares resold during the validity period of the authorisation.
Under no circumstances may the Company hold, directly or indirectly, more than 10%of its capital.
The maximum purchase price of shares under this resolution is €20 per share and the total amount of funds that may be allocated to the implementation of this share buy back programme may not exceed €2 billion.
