The shareholders of Beluga NV (ENXTBR:BELU) authorized a share repurchase program at its Annual General Meeting on May 18, 2012. Under the program, the company will repurchase its own shares on the stock exchange or in any other way provided for by law within the bounds of the law maximum number of shares of the company. The shares will be repurchased at a price not lower than 20% of the lowest closing price of the last 20 trading days preceding the transaction, nor more than 20% of the highest closing price of the last 20 trading days preceding the transaction, and the subsidiaries of the company under the Companies Code, to allow its shares to be obtain with the same conditions. The share repurchase program is valid for 18 months.

Beluga NV's share repurchase program expired on November 18, 2012.