Recordati Industria Chimica e Farmaceutica S.p.A. (BIT:REC) commences share repurchases on May 20, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 22, 2024. As per the mandate, the company is authorized to repurchase up to3,500,000 shares, representing 1.7% of its issued share capital, for ?200 million. The repurchase price of the shares must not exceed the average official Stock Exchange price recorded over the 5 trading days prior to the transaction, plus 5%. The minimum price at which the shares can be repurchased will be ? 0.125. The purpose of the program is to fulfill the obligations arising from the stock option plans, carrying out industrial initiatives to allow transactions such as the sale, contribution and exchange of treasury stock in order to acquire stakes in companies and/or to reach agreements with strategic partners within the Group?s expansion objectives and supporting the company's shares liquidity, in order to promote the regular course of the share negotiations and avoid price fluctuations inconsistent with the market trend. The program is valid until the date of the approval of the financial statement of December 31, 2024, in the next Annual General Meeting. As of March 19, 2024, the company had 209,125,156 issued shares and had 2,769,064 shares in treasury.

On May 9, 2024, the company announced a share repurchase program. Under the program, the company has entered into agreement with UBS Europe SE to repurchase up to 1,500,000 shares, for ?85 million. The program will be valid till November 11, 2024.