Prudential plc Announces Share Repurchases and Cancellations

Key Highlights from Latest Disclosure Return

• Issuer: Prudential plc
• Instrument: Ordinary shares of GBP 0.05 each
• Stock Code: 02378
• Date Submitted: 02 February 2026
• Listing: The Stock Exchange of Hong Kong Limited

Details of Share Repurchase and Cancellation

Prudential plc has executed a series of share repurchases as part of its capital management strategy, directly impacting its issued share capital.

• Repurchase and Cancellation:
  On 28 January 2026, Prudential repurchased 283,602 ordinary shares, which were subsequently cancelled on 30 January 2026. The repurchase price was GBP 11.9196 per share. As a result, the total issued shares decreased from 2,543,051,887 to 2,542,768,285.
• Additional Shares Pending Cancellation:
  • On 29 January 2026: 300,151 shares repurchased at GBP 12.0514 per share, pending cancellation.
  • On 30 January 2026: 299,227 shares repurchased at GBP 12.0204 per share, pending cancellation.
• Total Shares Repurchased (30 January 2026): 299,227 shares via London Stock Exchange, at prices between GBP 11.94 and GBP 12.085 per share, for an aggregate sum of GBP 3,596,824.05.
• Aggregate Shares Repurchased under Mandate: 64,271,229 shares have been repurchased since the mandate was granted.
• Repurchase Mandate Details:
  • Mandate granted on 14 May 2025.
  • Prudential is authorised to repurchase up to 262,668,701 shares.
  • Repurchases to date represent 2.47% of the company’s issued shares as at the date of the mandate.

Important Notes for Shareholders

• Moratorium Period: Following these share repurchases, Prudential is subject to a moratorium period until 01 March 2026. During this 30-day period, the company cannot issue new shares, nor sell or transfer any treasury shares, without prior Exchange approval. This restriction is price-sensitive as it limits the company’s ability to raise equity or alter its share capital structure in the immediate term.
• No Treasury Shares Held: All shares repurchased in this period are intended for cancellation, with none held as treasury shares. This means the share count reduction is permanent, potentially improving per-share financial ratios such as earnings per share (EPS).
• Repurchases Not on HKEX: All recent share repurchases were executed on the London Stock Exchange and in compliance with relevant domestic rules.
• Price Sensitivity: The reduction in outstanding shares can be price sensitive. Share buybacks and cancellations typically signal management’s confidence in the company and may result in upward pressure on the share price due to a lower share count and potentially higher EPS.

Investor Impact and Potential Share Price Movement

Prudential’s active share buyback and cancellation program reduces the number of shares outstanding, which is generally viewed positively by the market. It can lead to improved per-share metrics and may signal to investors that management believes the shares are undervalued. The moratorium period for new share issuances also ensures stability in the share capital in the short term.

Investors should monitor further buyback activity and be aware of the scheduled moratorium ending 01 March 2026, after which Prudential may resume issuing new shares or selling treasury stock, potentially impacting supply and price.

Disclosure and Compliance

The return was submitted by Florence Ng Wai Yin, Deputy Group Secretary, confirming compliance with both Hong Kong and London market rules.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors should conduct their own due diligence and consult professional advisors before making investment decisions. The information herein is based on official issuer disclosures as of 2 February 2026 and may be subject to change.

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