Name of issuer: Société Générale S.A. – French public limited company (“SA”) with a share capital of 1,066,714,367.50 euros Registered under nr.552 120 222 R.C.S. PARIS Registered office: 29, Boulevard Haussmann, 75009 Paris Information about the total number of voting rights and shares pursuant to Article L.233-8 II of the French Commercial Code and Article 223-16 of the AMF General Regulations DateNumber of sharescomposing currentshare capitalTotal number ofvoting rights30th April 2021853,371,494Gross: 920,416,040 Attachment DDV SG 14052021 VA
DESCRIPTION OF THE SHARE BUYBACK PROGRAMME SUBJECT TO THE AUTHORISATION OF THE ORDINARY GENERAL MEETING DATED 18 MAY 2021 Regulated information 11th May 2021 This description is drawn up in accordance with the provisions of Articles 241-1 and 241-2 I of the General Regulation of the French Financial Markets Authority (Autorité des marches financiers). 1. Date of the General Meeting called to authorise the share buyback programme The authorisation for the Company to buy its own shares will be proposed to the ordinary General Meeting dated 18 May 2021. 2. Breakdown by objectives of the securities held As at 10th May 2021, at midnight (Paris time), the allocation of the shares held directly by the Company is as follows: Cancellation 0Allocation to employees and company officers 2 944 182Exercise of rights attached to securities 0External growth 0Liquidity agreement 33 500 3. Purposes of the share buyback programme Societe Generale contemplates renewing its authorisation to buy its own shares so it can: grant, cover and honour any free shares allocation plan, employee savings plan and any form of allocation for the benefit of employees and company officers of the Company or affiliated companies under the conditions defined by the applicable legal and regulatory provisions;cancel them, in accordance with the terms of the authorisation of the combined General Meeting dated 19 May 2020 in its 26th resolution;deliver shares upon the exercise of rights attached to securities giving access to the Company’s share capital;hold and subsequently deliver shares as payment or exchange as part of Group’s external growth transactions;allow an investment services provider to trade in the Company’s shares as part of a liquidity agreement compliant with the regulations of the French Financial Markets Authority (Autorité des Marchés Financiers). 4. Maximum amount allocated to the share buyback programme, maximum number and characteristics of the securities, maximum purchase price The resolution proposed to the General Meeting provides that Societe Generale could purchase its ordinary shares for an amount of up to 5% of the share capital at the completion date of these purchases, reminded that, in accordance with the law, the number of shares held after these buybacks may not exceed, at any time, 10% of the share capital. Within the framework of the share buyback programme subject to the authorisation of the General Meeting and given the actual share capital, the Company could purchase a theoretical maximum number of 42,668,574 shares representing 5% of the share capital. The maximum purchase price would be set at EUR 75 per share, i.e. a potential maximum amount allocated to the programme of EUR 3,200,143,050. This maximum amount is likely to change in case of operations with impacts on the share capital. 5. Duration of the share buyback programme It is proposed to the ordinary General Meeting dated 18 May 2021 to set the duration of the authorisation for the Company to buy its own shares at 18 months from the date of the General Meeting. 6. Prudential requirements, including the recommendation of the European Central Bank The Board of Directors will ensure that the execution of these buybacks will be carried out in accordance with prudential requirements defined by the regulation. Until 30 September 2021, as long as the European Central Bank recommendation dated 15 December 2020 (BCE/2020/62) will apply, Societe Generale will not buy back shares with the purpose of shares cancellation in order to remunerate shareholders. During this period and in accordance with prudential requirements as well as European Central Bank authorisation, Societe Generale may buy back shares for other purposes, including share buybacks in order to cover and honour free shares allocation plan for the benefit of employees or company officers. During the 4th quarter 2021, Societe Generale plans to perform share buybacks, including share buybacks for the purpose of shares cancellation in order to remunerate shareholders up to an amount equivalent to dividend amount (about EUR 470 million) if the European Central Bank has not renewed its recommendation and subject to its approval. Press contacts: Jean-Baptiste Froville_+33 1 58 98 68 00_ email@example.comCorentin Henry_+33 1 58 98 01 firstname.lastname@example.org Attachment Description of the share buyback programme 2021
(Bloomberg) -- Societe Generale SA plans to focus its investment bank more on corporate banking as Chief Executive Officer Frederic Oudea attempts to turn the unit around following steep trading losses on complex derivatives last year.The Paris-based lender on Monday said the business, which is heavily geared toward markets activities, will pursue a “client-centric” strategy and allocate more capital to financing, advisory and transaction banking. The division, known as Global Banking and Investor Solutions, also set a profitability target for a return on normative equity of more than 10% from 2023.Oudea, one of the longest-serving bank CEO’s in Europe, is joining peers including Deutsche Bank AG in emphasizing corporate banking to reduce reliance on volatile trading. The markets business, SocGen’s one-time powerhouse, plunged the bank into its first annual loss in more than three decades after derivatives linked to dividends blew up at the onset of the pandemic.SocGen rose 2.2% at 9:53 a.m. in Paris trading, bringing gains this year to almost 50%, one of the best performers among European banks.The French lender, which reviewed the unit in the wake of those losses, said it aims for a 3% revenue growth for its financing and advisory businesses between 2020 and 2023, while markets revenue is expected to normalize at around 5 billion euros in 2023.Other European lenders have sought to focus more on corporate banking over the past years, though their success has been mixed as the region’s negative interest rates weigh on income from lending. Deutsche Bank in 2019 exited equities trading altogether, focusing instead on the transaction bank as well as fixed income trading. But halfway into CEO Christian Sewing’s turnaround effort, it’s the trading business that’s kept the German lender on track after the pandemic fueled a market frenzy while delaying a return to more normal interest rates. At SocGen, the equities trading business at the center of last year’s losses has since rebounded, turning in its best performance last quarter since 2015 and easing pressure on Oudea to take more radical steps. The bank designed new products and reshuffled top management in response to the losses.Oudea made cuts to the investment bank before, slashing 1,200 jobs in the division in 2019 after a slump in trading revenue. He’s currently in the process of eliminating 640 jobs, mostly in the investment bank. SocGen has announced plans to cut 450 million euros in costs in its markets unit by 2023.(Updates with shares in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.