Current share buyback program

On April 1, 2024, ABB launched its previously announced new share buyback program of up to $1 billion. Based on the current ABB share price this represents a maximum of approximately 21.3 million shares. The maximum number of shares that may be repurchased under this new program on any given trading day is 692,486.

This new program is consistent with ABB’s capital allocation principles targeting to maintain a strong investment grade rating. Since July 2020, ABB has repurchased about 308 million shares for capital reduction purposes for a total amount of approximately $9.4 billion.

The total number of ABB’s issued shares is 1,882,002,575. This includes 21,387,687 shares that were repurchased under the 2023–2024 share buyback program and are expected to be cancelled in Q2 2024. ABB will use the capital band approved at its Annual General Meeting 2023 for cancellation of these shares. ABB currently owns approximately 30 million treasury shares.

The new share buyback program is for capital reduction purposes and will be executed on a second trading line on the SIX Swiss Exchange (Valor: 35.767.961; ISIN: CH035 767 961 9). It is planned to run from April 2, 2024, until January 31, 2025, following a decision to adjust the timing of its share buyback cycle to align with the announcement of its Q4 2024 results and 2024 dividend proposal.

The new share buyback program will be managed by a bank mandated by ABB that, based on trading parameters received from ABB, will make its trading decisions concerning the timing of share repurchases independently of ABB. ABB can change these parameters outside of its closed periods and if it is not in possession of any inside information.

The purchase price per share will not exceed the higher of the price of the last independent trade on the ordinary trading line on the SIX Swiss Exchange and the highest current independent bid price on the ordinary trading line on the SIX Swiss Exchange. In addition, customary spreads on purchases on the second trading line on the SIX Swiss Exchange will be paid, observing the limitations of the Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIO). Payment for the shares will be made in cash.

The buyback program is being carried out in accordance with the Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIO), the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) No 2016/1052. Weekly updates on the program will be published on ABB’s investor relations website at https://global.abb/group/en/investors/investor-and-shareholder-resources/share-buybacks and issued by press release.

Official notices in German, French and English

The program is executed on a second trading line on the SIX Swiss Exchange

Repurchases of ABB shares for capital reduction purposes are carried out on a second trading line on the SIX Swiss Exchange. Only ABB through its mandated bank can purchase shares on this second trading line (see official notices). The repurchase prices and trading prices of ABB shares on the second trading line are based on the trading prices of ABB shares on the ordinary trading line.

A shareholder wishing to sell ABB shares may do so either on the ordinary trading line or on the second trading line. ABB shares sold on the second trading line are subject to Swiss federal withholding tax at a rate of 35 percent on the difference between the repurchase price of the ABB share and its nominal value of CHF 0.12. This tax will be deducted from the repurchase price. Shareholders domiciled in Switzerland are entitled to a reimbursement of the withholding tax provided they are beneficial owners of the shares at the time those are surrendered and provided they do not avoid taxes (art. 21 of the Withholding Tax Law). Shareholders domiciled outside Switzerland may reclaim the withholding tax in accordance with any applicable double taxation treaties.*

ABB's share buybacks transaction reporting

Maximum daily repurchase volume in accordance with applicable regulations

692,486 shares

*Tax disclaimer: All investors must seek their own specific tax advice, and nothing herein is intended or should be considered as tax advice.