Prudential plc Announces Series of Share Repurchases and Cancellations

Date of Disclosure: 23 December 2025

Issuer: Prudential plc (Stock Code: 02378, listed on the Hong Kong Stock Exchange)

Key Highlights for Investors

• Significant Share Repurchase Activity: Prudential plc has executed multiple repurchases of its ordinary shares on 18 December 2025, with final cancellations occurring on 22 December 2025. This is part of the company’s ongoing strategy to return value to shareholders and manage its share capital.
• Reduction in Issued Shares: The company repurchased and cancelled a total of 743,427 shares on 22 December 2025 across two transactions. This represents a combined reduction of approximately 0.02915% of its previously issued shares.
• Repurchase Prices: The volume-weighted average repurchase prices for these shares were GBP 11.2548 and GBP 11.2585 per share, respectively.
• Closing Share Capital: After these cancellations, the company’s total issued shares (excluding treasury shares) stood at 2,549,495,667.
• Additional Shares Pending Cancellation: As of 22 December 2025, there are a further 1,206,241 shares that have been repurchased but not yet cancelled. These include shares repurchased both as part of the general buyback and to neutralise 2025 share issuances for scrip dividends.

Detailed Repurchase Information

Repurchase Programme and Authorisation

• The share buybacks were conducted under a repurchase mandate granted by shareholders on 14 May 2025.
• The total number of shares authorised for repurchase under this mandate is 262,668,701.
• As of this report, 58,148,443 shares have been repurchased under this mandate, representing 2.23% of the issued shares as at the date of the mandate.
• The most recent 350,000 shares were repurchased on the London Stock Exchange on 22 December 2025 at a price range between GBP 11.42 and GBP 11.51, for an aggregate consideration of GBP 4,015,516.5.

Important Information for Shareholders

• Price Sensitivity: Share repurchases can be price-sensitive events as they reduce the number of shares in circulation, potentially increasing earnings per share and supporting the share price.
• Regulatory Moratorium: After these repurchases, Prudential is subject to a 30-day moratorium (up to 21 January 2026) during which it cannot issue new shares, sell, or transfer treasury shares without prior approval from the Exchange. This could impact any near-term equity fundraising or capital management actions.
• Purpose of Repurchases: Some of the buybacks are specifically to neutralise share issuances for scrip dividends, indicating active management of dilution from dividend schemes.
• No Sales of Treasury Shares Reported: There were no on-market sales of treasury shares during this period.

Potential Impact on Share Value

The repurchases and associated cancellations are likely to be viewed positively by investors, as they reflect the company’s confidence in its capital position and its commitment to returning value to shareholders. The reduction in share count can improve key financial metrics such as earnings per share (EPS) and may provide upward support to the share price, particularly in light of the scale of the buybacks and the use of buybacks to offset scrip dividend dilution.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before making investment decisions. The information is based on publicly disclosed documents and may be subject to change or updates by Prudential plc or the relevant stock exchanges.

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