Pharol, SGPS S.A. commences an Equity Buyback Plan for 10% of its issued share capital, under the authorization approved on March 27, 2020.

Pharol, SGPS S.A. (ENXTLS:PHR) commences share repurchases on October 22, 2020, under the program mandated by the Annual General Meeting held on March 27, 2020. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The consideration of the acquisition should fall within an interval of 25% less than the lowest trading price and 25% more than the average trading price of the shares to be acquired on the Euronext Lisbon during the three regulated market sessions immediately preceding the date of the acquisition or the creation of the right of acquisition or allocation of shares, or should correspond to the acquisition price resulting from any contracted financial instruments. The plan is valid till 18 months from the date of approval of the program.