Boussard & Gavaudan Holding Limited (ENXTAM:BGHL) commences share repurchases on October 31, 2022, under the program mandated by the shareholders in the Annual General Meeting held on September 30, 2022. As per the mandate, the company is authorized to repurchase up to the maximum number of shares hereby authorized to be repurchased shall be up to an aggregate of the lesser of either 1,846,257 Euro shares and 19,525 Sterling shares or such number as shall represent 14.99% of each class of shares in issue (excluding shares held in treasury). The maximum price which may be paid for a share shall be the higher of either an amount equal to 105% of the average of the closing quotation for a share of the relevant class taken from and calculated by reference to in the case of the Sterling Shares, the London Stock Exchange's Daily Official List or in the case of the Euro Shares, Euronext Amsterdam, as the case may be, for the five business days immediately preceding the day on which the shares are purchased and the higher of the price of the last independent trade and highest current independent bid on the relevant market when the purchase is carried out provided that the company shall not be authorized to acquire shares at a price above the estimated prevailing net asset value of the relevant class of share on the date of purchase.

The minimum price which may be paid for a share shall be €0.01 or £0.01, as the case may be. The shares will be repurchased on the market. The authority shall expire at the conclusion of the next Annual General Meeting or on December 31, 2023, whichever is earlier.