Amsterdam, Netherlands, 30 October 2023, 7:30AM CET - TomTom (TOM2), the location technology specialist, today announced a share buyback program. Supported by its strong cash generation capabilities, the company will repurchase shares for a maximum amount of €50 million with the aim of reducing its share capital.

Details of the share buyback program are as follows:

Purpose: TomTom’s goal is to reduce its share capital. As such, the company intends to cancel all shares purchased as part of the program, subject to shareholder approval.
Amount: A maximum amount of €50 million has been allocated for this program.
Duration: The program will commence on 30 October 2023 and will run for a maximum duration of 12 months.
Framework: TomTom aims to repurchase approximately 7% of ordinary shares, in accordance with the authorization provided by the General Meeting on 14 April 2023 to repurchase shares up to a limit of 10%.

TomTom has entered into a non-discretionary arrangement with a financial intermediary to conduct the share buyback.

The share buyback program will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. The program is carried out under the authority granted by the General Meeting of shareholders on 14 April 2023. TomTom will provide regular updates on the progress of the program, in line with applicable regulations, at: https://corporate.tomtom.com/investors/shareholder-information/share-buyback.

This press release is published by TomTom N.V. and contains inside information within the meaning of article 7 (1) to (4) of the Market Abuse Regulation (Regulation (EU) No 596/2014).