BAWAG Group AG (WBAG:BG) commences share repurchases on October 9, 2023, under the program mandated by the shareholders in the Annual General Meeting held on March 31, 2023. As per the mandate, the company is authorized to repurchase up to 10% of its share capital, such that the holding of its own shares do not exceed 10% of its share capital. The consideration to be paid per share when repurchasing shares must not be lower than ?1 and must not be more than 50% above the volume weighted average price of the last 20 trading days preceding the respective purchase in case of Market Repurchase and not be more than 50% above the volume weighted average price of the last 20 trading days preceding the announcement of intention to launch a public offer. The repurchased shares will be used to service debt instruments, to transfer shares to employees, senior executives as well as members of the Management Board of the Company or its subsidiaries for remuneration purposes, to be able to transfer the shares in exchange for non cash-contributions, provided this is done for the purpose of acquiring companies, parts of companies or participations in companies or other assets related to an acquisition project. The authorization will be valid for 30 months.

On October 4, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 8,048,278 for ?175 million. The program will commence on October 9, 2023, and will end no later than December 31, 2023.