São Martinho S.A. (BOVESPA:SMTO3) announces a share repurchase program. Under the program, the company will repurchase up to 14,234,811 common shares, representing 10% of the common shares outstanding. The purpose of program is maximizing the value created to shareholders and promoting capital allocation, with efficient use of funds available in cash.

The company will fund the program from the funds available in the accumulated revenues from the last fiscal year and the current fiscal year. The repurchased shares will be held in treasury, canceled or sold. The repurchase program is valid for 18 months till September 25, 2025.

As of March 25, 2024, the company has 142,348,116 common shares outstanding and no common shares in treasury.