Andritz AG (WBAG:ANDR) commences share repurchases on February 6, 2022 under the program mandated by the shareholders in the Annual General Meeting held on March 24, 2021. As per the mandate, the company is authorized to repurchase its shares to the maximum extent permitted by law. The lowest price per no-par value share at which the shares will be repurchased shall not be less than the respective amount represented by each share in the capital stock. The highest price paid per share upon buy-back must not exceed the average, non-weighted closing price on the Vienna Stock Exchange over the 10 trading days preceding exercise of this authorization by more than 10%. The company will cancel the repurchased shares. The share repurchase program is valid for 30 months, from April 1, 2021.

On December 2, 2021, the Executive and Supervisory Boards resolved to commence the share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 0.96% of the company's voting share capital. The company reserves the right to also use the purchased treasury shares for the purpose of a stock option program for employees, senior executives, and members of the Executive or Supervisory Boards of the company or one of its associated companies. The share repurchase program will commence on December 13, 2021 and will end on February 6, 2022.