Share repurchase - liquidity agreement

DESCRIPTION OF THE SHARE REPURCHASE PROGRAM
AUTHORIZED BY THE SHAREHOLDERS' MEETING ON MAY 22, 2019

The authorization given to the Board of Directors to implement a share repurchase program was approved by the Shareholders' Meeting on May 22, 2019 (13th resolution).

This authorization was given for a period of 18 months.

The maximum number of shares that may be repurchased under this authorization is set at 10% of the share capital.

Funding for the implementation of the share repurchase program is set at a maximum of 1,000,000 euros, unchanged from previous years.

The maximum unit price per share is set at 10 euros.

In previous years, this share repurchase program was used exclusively under a liquidity contract, in order to facilitate the liquidity of the Company's shares by an investment service provider.

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