Bekaert announces the one-year extension of its liquidity agreement with Kepler Cheuvreux in respect of its ordinary shares (ISIN code BE0974258874) admitted to trading on Euronext Brussels, effective today. This agreement provides for the purchase and sale of Bekaert shares by Kepler Cheuvreux on the regulated market of Euronext Brussels.

Kepler Cheuvreux will act on behalf of Bekaert under a discretionary mandate as approved by Bekaert’s extraordinary general meeting on May 13, 2020.

Subject to the conditions set by this extraordinary general meeting, (i) the total number of treasury shares held by Bekaert pursuant to this authorization will never exceed twenty percent of the total number of outstanding Bekaert shares and (ii) the purchase of shares must be made at a price between one euros and thirty percent above the arithmetic mean of the closing price of Bekaert shares during the last thirty trading days before the decision of the Board of Directors to implement the authorization of the Extraordinary General Meeting (the average closing price was €31.739 per share).

The program is renewed for a renewable period of one year. Bekaert has the option of terminating the contract early with a relatively short period of notice.

To implement the program, Bekaert Kepler provided Cheuvreux with 100,000 of its own shares. No additional funds were allocated to the Kepler Cheuvreux liquidity account following the renewal of the liquidity contract.

The purpose of the liquidity contract is to support the liquidity of the Bekaert shares on Euronext Brussels.

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