Lojas Renner S.A. announces an Equity Buyback for 18,000,000 shares, representing 1.82% of its issued share capital.

Lojas Renner S.A. (BOVESPA:LREN3) announces a share repurchase program. Under the program, the company will repurchase up to 18,000,000 common shares, representing 1.82% of the shares outstanding. The shares repurchased will be held in treasury and subsequently used for the purposes of the company's Restricted Shares Plan, and may in addition be cancelled or sold.

The repurchases will be funded using funds from profits reserve and capital reserve accounts. The share repurchase program would be an additional way of distributing the company's cash to shareholders and seek to promote the creation of shareholder value. The share repurchase program is valid for 18 months, until July 15, 2023.