Eni Launches the New Share Buyback Program

Source: www.gulfoilandgas.com 5/23/2024, Location: Europe

Eni announces that, following the authorization granted by the Shareholders' Meeting held on 15 May 2024, the first tranche of the new share buyback program (the "First Tranche ") will be launched in the next days.

The First Tranche will concern up to a maximum of 6.4 million of Eni’s shares (approximately 0.2% of share capital), up to a total maximum of €150 million to be used for the implementation of the 2024-2026 Employee Stock Ownership Plan.

The purchases will be executed on the Euronext Milan through an authorized agent, who will act independently, also in relation to the timing of transactions and will be disclosed to the market in accordance with the terms and conditions set out in the laws and regulations in force.

As announced on 24th April 2024 in the context of the presentation of the first quarter 2024 results, Eni confirms that the 2024 share buyback program, to be executed by April 2025, will have a total amount of €1.6 billion. This amount may be increased up to a total maximum of €3.5 billion, in case of upside scenarios.

Therefore, after the First Tranche, further phases of purchases will be launched to complete the overall planned buyback program.


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