Stellantis to Buy Back More Shares

Stellantis* (NYSE: STLA) announced today in Amsterdam that its Share Buyback Program that cancels common shares will proceed with a second tranche by an independent investment firm that makes its trading decisions concerning the timing of purchases independently of Stellantis. This will cover a maximum amount of up to €500 million starting on 7 June 2023, ending no later than 7  September 2023. Common shares purchased “will be cancelled in due course.” (AutoInformed on: Stellantis Shareholders Approve €4.2 Billion Dividend; Stellantis €1.5B Share Buyback Program Starts Tomorrow)

The purchase price per common share will be no higher than an amount equal to 110% of the market price of the shares on the NYSE, Euronext Milan or Euronext Paris (as the case may be). The market price will be calculated as the average of the highest price on each of the five days of trading prior to the date on which the acquisition is made, as shown in the official price list of the NYSE, Euronext Milan or Euronext Paris.

The share buybacks will be conducted subject to market conditions and in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

As of today, following the relevant portion of the first tranche, the remaining authorization stands at approximately 290 million shares, which is expected to be adequate to cover this Program, as well as any repurchase(s) of the 99.2 million shares currently owned by Chinese JV partner Dongfeng Corporation under the terms announced on July 15, 2022.

The buyback is under the authority granted by the general meeting of shareholders held on 13 April 2022, up to a maximum of 10% of the Company’s capital, or any renewed or extended authorization to be granted at a future general meeting of the Company. The purchase price per common share will be no higher than an amount equal to 110% of the market price of the shares on the NYSE, Euronext Milan or Euronext Paris.

*Stellantis

Stellantis is one of the world’s leading automakers and a mobility provider. Its brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep^®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2Move and Leasys. Stellantis N.V. posted record full year 2022 results with €16.8 billion Net profit and €23.3 billion Adjusted Operating Income (AOI). Stellantis was formed by a merger of FCA and PSA in January of 2021.