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Coface SA: Description of the 2026-2027 Share Buyback Program
Description of the 2026-2027Share Buyback Program INTRODUCTION It is reminded that the Shareholders’ Combined General Meeting of COFACE SA (the Company) held on of May 14, 2025, had previously authorised the Board of Directors, in its thirteenth (13th) resolution, to carry out transactions on COFACE SA’s shares under the framework of the 2025-2026 Share Buyback Program. The main features and description of the said program are published on the Company’s website and on the 2025 Universal Registra
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Description of the 2026-2027 Share Buyback Program It is reminded that the Shareholders' Combined General Meeting of COFACE SA (the Company) held on of May 14, 2025, had previously authorised the Board of Directors, in its thirteenth (13th) resolution, to carry out transactions on COFACE SA's shares under the framework of the 2025-2026 Share Buyback Program. The main features and description of the said program are published on the Company's website and on the 2025 Universal Registration Document. The Company, listed on Euronext Paris - Compartment A -, wishes to continue to have a Share Buyback Program (the Program), pursuant to applicable regulation (See "Legal Framework" below). To this end, the Shareholders' Combined General Meeting of May 19, 2026 issued a new authorisation to the Board of Directors, with the power to sub delegate in accordance with legislative and regulatory provisions, seventh (7th) resolution, to implement a new Share Buyback Program on the Company's shares (Code ISIN FR0010667147). This Program shall replace the existing one established by the Shareholders' Combined General Meeting of May 14, 2025. 2.1 Date of Shareholders' General Meeting authorising the Program The 2026-2027 Program was authorised by the Shareholders' Combined General Meeting of May 14, 2025, in its seventh (7th) resolution. The Board of Directors of July 30, 2026, authorised COFACE SA, with the power to sub delegate to the CEO, pursuant to the delegation given by the Shareholder's Combined General Meeting of May 19, 2026 in its seventh (7th) resolution, to trade on the Company's share through the "2026-2027 Share Buyback Program", whose main features are described below. 2.2 Allotment by objective of shares held as of June 30, 2026 COFACE SA held, as of June 30, 2026, 0.47% of its share capital or 698,575 common shares. At that date, the breakdown by objective of the number of shares held was as follows: 2.3 Objectives of the 2026-2027 Share Buyback Program Purchases and sales of the Company's shares may be made, by decision of the Board, to: 2.4 Maximum percentage of the share capital, maximum number of shares, maximum purchase price and characteristics of the shares that COFACE SA intends to buyback 2.4.1 Characteristics of the shares that COFACE SA intends to buyback Common shares of the Company traded on Euronext Paris: 2.4.2 Maximum percentage of the share capital The Board of Directors can authorise, with the power to sub-delegate under the legal and regulatory conditions, in compliance with the provisions of Articles L.22-10-62 et seq and L.225-210 et seq. of the French Commercial Code, the purchase of –in one or more instances and at the times to be determined by it - a number of shares of the Company not to exceed: (i) 10% the total number of shares composing the share capital, at any time whatsoever; or, (ii) 5% of the total number of shares subsequently composing the share capital if it concerns shares acquired by the Company in view of keeping them and transferring them as payment or exchange under a merger, spin-off or contribution operation. These percentages apply to a number of shares adjusted, where appropriate, according to the operations that could affect the share capital subsequent to the Shareholders' Meeting of May 19, 2026. 2.4.3 Maximum number of shares COFACE SA is committed, by law, not to exceed the holding limit of 10% of its capital, such 10% limit being, for information purposes, 15,017,979 shares as at June 30, 2026. 2.4.4 Maximum purchase price According to the seventh (7th) resolution proposed and accepted by the Shareholder's Combined General Meeting of May 19, 2026, the maximum purchase price per unit may not exceed €30, excluding costs. The Board of Directors may nevertheless, for operations involving the Company's capital, in particular a modification of the par value of the share, a capital increase by incorporation of reserves following the creation and allocation of bonus shares, a stock split or reverse stock split, adjust the aforementioned maximum purchase price in order to take into account the impact of these operations on the value of the Company's stock. 2.4.5 Other information The acquisition, disposal or transfer of these shares may be completed and paid for by all methods authorised by the current regulations, on a regulated market, multilateral trading system, a systematic internalisre, or over the counter, in particular through the acquisition or disposal of blocks of shares, using options or other derivative financial instruments, or warrants or, more generally, securities entitling their bearers to shares of the Company, at the times that the Board of Directors will determine. The Board of Directors shall have all powers, with the power to sub delegate in compliance with legislative and regulatory conditions, in order to, in accordance with applicable legislative and regulatory provisions, proceed with the permitted reallocation of repurchased shares in view of one of the objectives of the programme, to one or more of its other objectives, or even their disposal, on or off the market. 2.5 Term of the 2026-2027 Share Buyback Program According to seventh (7th) resolution proposed and accepted by the Shareholders' Combined General Meeting of May 19, 2026, this Program will have a maximum period of eighteen (18) months from the date of said Combined General Meeting and will therefore continue no later than November 18, 2027 (including) or until the date of its renewal by a Shareholders' General Meeting, the one occurring first. This authorisation concludes the one granted by the thirteenth (13th) resolution that was adopted by the Shareholders' Combined Meeting of May 14, 2025. Legal Framework The legal framework used for this document shall be that in force on June 30, 2026. It shall be noted that regulation may evolve during time and its updates shall be taken into consideration. Historical figures The main features of the Share Buyback Programs have been published on the website of the Company ( http://www.coface.com/Investors ) and are also described in the Universal Registration Documents. (1) Own shares transactions Agreement, signed with Kepler Cheuvreux, from October 27, 2020 to January 29, 2021, to buy Coface's shares for their cancellation. For more information, the reader should refer to the Universal Registration Document published in 2021 on the 2020 financial statements. (2) Own shares transactions Agreement, signed with BNP Paribas Exane, from September 13, 2022 to November 15, 2022, to buy Coface's shares for their allocation under the LTIP. For more information, the reader should refer to the Universal Registration Document published in 2023 on the 2022 financial statements. (3) Own shares transactions Agreement, signed with Kepler Cheuvreux, from September 11, 2023 to September 29, 2023, to buy Coface's shares for their allocation under the LTIP. For more information, the reader should refer to the Universal Registration Document published in 2024 on the 2023 financial statements. Attachment