GRENKE LAUNCHES SHARE BUYBACK PROGRAMME

GRENKE launches share buyback programme

Baden-Baden, February 6, 2024: The Board of Directors of GRENKE AG, with the consent of the Supervisory Board, today resolved to implement a share buyback programme. The request for approval submitted to the German Federal Financial Supervisory Authority (BaFin) has been granted (see also the ad hoc announcement dated November 21, 2023). The share buyback programme encompasses a maximum of 2,317,695 shares with a value of up to EUR 70 million (excluding ancillary costs), corresponding to 5 percent of the company’s share capital existing at the time of the authorisation resolution of the Annual General Meeting on August 6, 2020. The shares are to be acquired via the stock exchange. The share buyback programme is scheduled to begin in the coming week (calendar week 7).

Dr Sebastian Hirsch, CEO of GRENKE AG: “The timing is favourable, and we received the necessary approval quickly. Through this share buyback, we are realising an attractive investment opportunity for GRENKE AG, and therefore also for our shareholders, based on the current share price.”