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2025/2026 Share buy-back programme
Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955
Baar, Switzerland
7 July 2025
2025/2026 Share buy-back programme
Glencore plc (the "Company") announces the commencement of a programme to make
market purchases of its ordinary shares (the "Shares") of an aggregate value of up
to USD 1 billion (the "Programme"), subject to market conditions, with completion
planned to be by the time of the release of our financial results for the 2025 year in
February 2026.
The Programme will be effected in accordance with the terms of the authority granted
by shareholders at the 2025 AGM, to acquire no more than 1,809,287,297 Shares (of
which 41,121,000 have already been purchased). The Programme's purpose is to reduce
the capital of the Company. It is currently intended that any Shares purchased will be
held in treasury.
The Company has entered into an agreement with UBS AG, London Branch (the "Bank")
to conduct the Programme, under which trading decisions may be undertaken by the
Bank in accordance with the directions of the Company. If the Company is unable to do
so, the Bank is mandated to make trading decisions concerning purchases under the
Programme independently of the Company.
The Bank may undertake transactions in the Shares (which may include sales as well as
purchases and may include participation in block purchases) in order to meet its
obligations pursuant to its agreement with the Company.
The implementation of the Programme is in line with the Company's stated financial
policies and thresholds.
Any buy-back of the Shares pursuant to the Programme will be effected in accordance
with Chapter 9 of the UK Listing Rules as well as the EU Market Abuse Regulation
596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (as they form part
of UK law by virtue of the European Union (Withdrawal) Act 2018 (as amended)).
The market will be notified in accordance with those rules when purchases are made.
As described in the Company's notice of AGM published in April 2025, the Company
continues to progress alternative buy-back programme structures in order to preserve
its capital contribution reserves and mitigate the future effect of Swiss withholding tax
charges on distributions and buybacks. It expects to be able to provide an update during
this month or next month. If a suitable alternative buy-back programme structure is
finalised, then subject to receiving the necessary approvals, the Company would amend
the remaining portion of the Programme so that it continues to operate under that
structure.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
Company Secretarial
John Burton t: +41 41 709 26 19 m: +41 79 944 54 34 john.burton@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified natural resource companies and a major producer
and marketer of more than 60 commodities that advance everyday life. Through a network of assets,
customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute
the commodities that support decarbonisation while meeting the energy needs of today.
With over 150,000 employees and contractors and a strong footprint in over 30 countries in both established
and emerging regions for natural resources, our marketing and industrial activities are supported by a
global network of more than 50 offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers
and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.
We will support the global effort to achieve the goals of the Paris Agreement through our efforts to
decarbonise our own operational footprint. For more information see our 2024-2026 Climate Action
Transition Plan, available on our website at glencore.com/publications.
linkedin.com/company/glencore
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instagram.com/glencoreplc
facebook.com/glencore
youtube.com/glencorevideos
Important Information
This material does not purport to contain all of the information you may wish to consider. For further important
information, including in connection with forward-looking statements and other cautionary information, refer to the
Important notice section of Glencore's 2024 Annual Report, which is available at glencore.com/publications. This
document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for any securities.
Other information
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to
Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not
imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer
collectively to members of the Group or to those who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or companies.
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 07-07-2025 08:00:00
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