Prudential plc Executes Further Share Buybacks in December 2025

Key Highlights from Latest Next Day Disclosure Return

• Issuer: Prudential plc (Stock Code: 02378)
• Event: Significant share repurchases and cancellations executed in early December 2025
• Share Class: Ordinary shares of GBP 0.05 each, listed on the Hong Kong Exchange
• Disclosure Date: 09 December 2025

Details of Share Changes

Prudential plc has reported recent changes to its issued share capital following a series of share repurchases and cancellations:

• Opening balance (as of 5 December 2025): 2,554,418,617 ordinary shares in issue.
• Shares repurchased and cancelled:
  • On 8 December 2025, 272,923 shares repurchased at a weighted average price of GBP 10.9755 per share were cancelled.
  • This represents a reduction of approximately 0.010684% of the issued share capital.
• Closing balance (as of 8 December 2025): 2,554,145,694 shares in issue.

Shares Repurchased for Cancellation But Not Yet Cancelled

• On 5 December 2025: 268,395 shares repurchased for cancellation at GBP 10.8645 per share (0.010507% of issued shares).
• On 8 December 2025: 275,565 shares repurchased for cancellation at GBP 11.0553 per share (0.010788% of issued shares).

These shares remained part of the issued share capital as of the closing balance date but are pending cancellation.

Repurchase Activity Details

• Trading Date: 8 December 2025
• Shares repurchased: 275,565 shares via the London Stock Exchange.
• Repurchase price range: GBP 11.015 – GBP 11.195 per share.
• Aggregate price paid: GBP 3,046,455.24.
• All shares repurchased are intended for cancellation, not to be held as treasury shares.

Repurchase Mandate and Capacity

• Repurchase mandate granted: 14 May 2025.
• Total shares authorised for repurchase under mandate: 262,668,701 shares.
• Shares repurchased under mandate to date (as of 8 December 2025): 52,833,143 shares, representing 2.028471% of the issued share capital at the time the mandate was granted.
• Moratorium period: Prudential plc is restricted from issuing new shares or selling/transferring any treasury shares until 7 January 2026, as per the Hong Kong Listing Rules.

Shareholder Considerations and Price Sensitive Information

• Enhanced Shareholder Value: The ongoing share buyback program reduces the total number of shares outstanding, potentially enhancing earnings per share (EPS) and supporting share price performance.
• Market Impact: The purchase price for recent buybacks (GBP 10.8645 – GBP 11.195) may signal management’s confidence in the company’s intrinsic value at these levels, which could be viewed favorably by the market.
• Trading Moratorium: Investors should note the temporary moratorium on new share issues or treasury share sales until 7 January 2026. This could limit potential dilution but also restrict capital raising flexibility in the short-term.
• Sizeable Mandate Remaining: With over 200 million shares remaining under the repurchase mandate, further buybacks could be expected, which may continue to provide support to the share price.

Management Confirmation

• Purchases were not made on the Hong Kong Exchange, but rather on the London Stock Exchange, and in compliance with all domestic rules applicable to such transactions.

Summary

The continued execution of share buybacks by Prudential plc, with specific details on volumes, prices, and the company’s adherence to its authorized repurchase mandate, is a significant event for shareholders to note. The reduction in share capital and the moratorium on new share issues could both have positive implications for share value and investor sentiment in the immediate term.

Submitted by: Florence Ng Wai Yin, Deputy Group Secretary

Disclaimer: This article is based on recent regulatory disclosures and is for informational purposes only. It does not constitute investment advice. Investors should conduct their own research or consult a qualified professional before making investment decisions. Company actions such as share buybacks can impact share price, but other market factors should also be considered.

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