Launch of a Share Buy-Back Program for EUR300m

On December 16 th , 2019, Accor announced EUR1.0bn return to shareholders to be executed over the next 24 months, of which EUR300m to complete the 2018 share buy-back program.

In this frame, the Group has signed a cash share buy-back mandate with an investment services provider for an amount of EUR300m.
The purchase period will start on January 20 th , 2020 and end on June 30 th , 2020. The purchase price per share shall not exceed the maximum price of EUR70 set by the Combined Ordinary and Extraordinary Shareholders' Meeting of April 30 th , 2019.