Within the framework of the share buyback authorization approved by the General Meeting Capgemini is required to buy back shares, in accordance with the share buyback program, in the following contexts :

• The liquidity contract;
• The multi-year share buyback program;
• Other ad-hoc buybacks.

The liquidity contract

The purpose of the liquidity contract entered into with an investment services provider is to improve the liquidity of the Capgemini share and to allow regular quotations in accordance with market practices accepted by the Autorité des marchés financiers (AMF – the French Financial Markets Authority).

The liquidity program report filed by Capgemini every 6 month is available here.

In 2022, a total of 2,039,082 shares were purchased on behalf of Capgemini SE, at an average price of €173.70 per share, representing 1.17% of the share capital at December 31^st, 2022. During the same period, 1,955,457 Capgemini SE shares were sold at an average price of €174.92 per share, representing 1.13% of the share capital at December 31^st, 2022. At the year-end, the liquidity account presented a balance of 87,589 shares (0.05% of the share capital) and approximately €16 million.

The multi-year share buyback program

As part of the active management of the share capital, Capgemini Board of Directors has decided in February 2016 to launch a €600 million share buyback program. The program was extended to €1,100 million in December 2016. In February 2020, the Board of Directors approved a new multi-year share buyback program of €600 million.

Under these multi-year programs, the Group completed several share buybacks as follows (based on the execution date of the orders, and not the settlement date):

Other ad-hoc buybacks

In compliance with the authorizations voted at the general meeting, Capgemini may also buy back shares in addition to the share repurchase carried out under the multi-year share buyback program.
Capgemini implements Employee Share Ownership Plans (ESOP) as part of the Group’s policy to associate all employees to its development and performance. To neutralize the dilution resulting from the ESOP capital increases, Capgemini may also implement dedicated buyback plans.
Hence, in 2017, 2018, 2020 and in 2022, in relation to the 4^th, 5^th, 7^th and 9^th ESOP plans, Capgemini carried out share repurchases for respectively €360 million, €264 million and €319 million and €408 million.

These buyback transactions are also subject to regulatory filings (Notice of trading on own shares, available here) no later than 7 days after the transaction.