Züblin Immobilière France (ENXTPA:ZIF) commences share repurchases on July 27, 2015 under the program mandated by the shareholders in the Annual General Meeting held on June 30, 2015. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital such that the number of shares repurchased together with the shares held in treasury shall not exceed 10% of the issued share capital. The maximum price at which the shares will be repurchased is €3 per share and the amount allocated for the repurchase is €0.3 million.

Repurchase of shares will be carried out by all means, in one or several times, particularly on the market or by mutual agreement, including by acquisition or sale of block, public offers, by using optional mechanisms or derivatives, in the conditions forecasted by the market authorities and with respect to the applicable regulation. The purpose of the repurchase program is to ensure the liquidity of the shares of the company within the framework of a liquidity contract to be concluded with an investment services provider, which conforms to the ethics charter recognized by Autorité des marchés financiers or to use the shares for meeting obligations linked to the programs of share acquisition option, free allotment of shares, employee savings or other share allocations to employees and directors of the company or companies associated to it or to deliver shares on the occasion of the exercise of rights attached to securities giving access to the capital or to acquire shares for the conservation or later exchange or payment within the framework of future external growth deals such that the total repurchases shall not exceed 5% of the issued share capital or for cancellation of all or part of the shares acquired. The Board of Directors are authorized to sub delegate within the conditions forecasted by the law, in order to pass all orders sign all acts of sales or transfer, conclude all agreements, all liquidity contracts, all option contracts, carry out all declarations, and all necessary formalities.

The share repurchase program is valid for 18 months.