CRH Continues Share Buyback Programme

Rhea-AI Summary

CRH plc has successfully completed another phase of its share buyback program, returning an additional $0.3 billion to shareholders. From September 20 to December 16, 2022, 7.7 million shares were repurchased at an average discount of 1.20%. The total cash returned to shareholders since the program's launch in May 2018 has reached $4.1 billion. CRH has also appointed BofA Securities to manage a new buyback of up to $300 million, commencing December 19, 2022, with completion expected by March 30, 2023.

Positive

• Completion of $0.3 billion share buyback boosts shareholder value.
• Total cash returned to shareholders reaches $4.1 billion since 2018.
• New buyback program up to $300 million enhances confidence in capital management.

Negative

• None.

DUBLIN, IRELAND / ACCESSWIRE / December 19, 2022 / CRH plc, the global leader in building materials solutions, is pleased to announce that it has completed the latest phase of its share buyback programme, returning a further $0.3 billion of cash to shareholders.

Between 20 September 2022 and 16 December 2022, 7.7 million ordinary shares were repurchased on Euronext Dublin at an average discount of 1.20% to the volume weighted average price over the period.

This brings total cash returned to shareholders under our ongoing share buyback programme to $4.1 billion since its commencement in May 2018.

CRH today also announces that it has entered into arrangements with BofA Securities Europe SA ("Bank of America") to repurchase ordinary shares on CRH's behalf for a maximum consideration of $300 million* (the "Buyback"). The Buyback will commence today, 19 December 2022, and will end no later than 30 March 2023.

Under the terms of the Buyback, ordinary shares will be repurchased on Euronext Dublin. CRH has entered into non-discretionary instructions with Bank of America, acting as principal, to conduct the Buyback on CRH's behalf and to make trading decisions under the Buyback independently of CRH in accordance with certain pre-set parameters.

The purpose of the Buyback is to reduce the share capital of CRH and it will be conducted within the limitations of the authority granted at CRH's AGM on 28 April 2022 to repurchase up to 10% of the Company's ordinary shares in issue (being 48,098,857 ordinary shares following the completion of the latest phase of the buyback programme).

The Buyback will also be conducted within the parameters prescribed by the Commission Delegated Regulation (EU) 2016/1052 and the Market Abuse Regulation 596/2014 (including as it forms part of retained EU law in the United Kingdom ("UK") from time to time, and, where relevant, pursuant to the UK's European Union (Withdrawal) Act 2018 and the UK's Market Abuse (Amendment) (EU Exit) Regulations 2019) and Chapter 12 of the UK Financial Conduct Authority's Listing Rules. The repurchased ordinary shares will be held in treasury pending their cancellation or re-issue in due course.

Any decision in relation to any future buyback programmes will be based on an ongoing assessment of the capital needs of the business and general market conditions.

* Being an amount equal to €282 million (based on a FX rate of $1.00:€0.94 fixed for the duration of the Buyback).

***

Contact CRH at Dublin 404 1000 (+353 1 404 1000)

Albert Manifold	Chief Executive
Jim Mintern	Finance Director
Frank Heisterkamp	Director of Capital Markets & ESG
Tom Holmes	Head of Investor Relations

About CRH

CRH (LSE: CRH, ISE: CRG, NYSE: CRH) is the leading building materials business in the world, employing c.73,000 people at c.3,200 operating locations in 29 countries. It is the largest building materials business in North America and in Europe and also has regional positions in Asia. CRH manufactures and supplies a range of integrated building materials, products and innovative end-to-end solutions which can be found throughout the built environment in a wide range of construction projects from major public infrastructure to homes and commercial buildings. A Fortune 500 company, CRH is a constituent member of the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20 and the Dow Jones Sustainability Index (DJSI) Europe. CRH is ranked among sector leaders by Environmental, Social and Governance (ESG) rating agencies. CRH's American Depositary Shares are listed on the NYSE. For more information visit www.crh.com

Registered Office: No 12965. Registered Office: 42 Fitzwilliam Square, Dublin 2, R02 R279, Ireland

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SOURCE: CRH PLC

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FAQ

What is the total cash returned to CRH shareholders through its buyback program?

CRH has returned a total of $4.1 billion to shareholders since the share buyback program began in May 2018.

How much was the recent share buyback by CRH?

CRH completed a share buyback of $0.3 billion between September 20 and December 16, 2022.

When does the new buyback program by CRH commence?

The new buyback program by CRH starts on December 19, 2022, and will end by March 30, 2023.

Who is managing CRH's share buyback program?

BofA Securities Europe SA is managing CRH's share buyback program.

What percentage of CRH's shares is allowed to be repurchased under the buyback program?

CRH is authorized to repurchase up to 10% of its ordinary shares in issue.