March 27, 2024

YOKOHAMA, Japan - Following the resolution of the Board of Directors on March 27, 2024, Nissan Motor Co., Ltd. (Nissan) announced the acquisition of its own shares from Renault S.A. (Renault) and the cancellation of its own shares under the provision of Article 165(3) and Article 178 of the Companies Act respectively.

Nissan has received a notice from Renault offering to sell 280,690,000 Nissan shares held in a French trust, and has decided to acquire 100,242,900 shares by making use of its right of first offer as agreed with Renault under the New Alliance Agreement. Renault has the option to sell the rest of the Offered Shares deducting the number of Nissan shares sold by Renault in this treasury share acquisition, within an orderly process pursuant to the New Alliance Agreement.

The transaction will be funded using Nissan's net cash position. This decision is in line with Nissan's commitment to enhancing shareholder returns and capital efficiency whilst maintaining the necessary financial resources to deliver Nissan's business plans. Going forward, Nissan will continue to provide high value to all stakeholders, aiming to secure total shareholder return at more than 30% in accordance with its business plan, The Arc.

1. Details of share acquisition

Class of shares to be acquired Common stock
Total number of shares to be acquired 100,242,900 (Percentage of total number of shares issued [excluding treasury shares] 2.51%)
Total amount of share acquisition cost 59,484,136,860 JPY
Acquisition date March 28, 2024
Acquisition method Purchase through off-auction own share repurchase trading system (ToSTNeT-3) of the Tokyo Stock Exchange

Note 1: No change will be made to the number of shares specified above. Note, however, that part or all of the acquisition may not be carried out depending on market trends and other factors.
Note 2: The purchase will be made on the basis of sell orders corresponding to the number of shares scheduled to be acquired.
Note 3: Renault S.A., a shareholder of Nissan, has notified Nissan of its intention to offer the number of shares stated under 3.(2) above held in a French trust for the repurchase.

2. Details of share cancellation

Class of shares to be cancelled Common stock
Total number of shares to be cancelled All shares acquired under 3. above
Scheduled date of cancellation April 3, 2024

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Nissan Motor Co. Ltd. published this content on 27 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 March 2024 08:12:03 UTC.