Share buy-back programme

19 MAY 2011

Basis and purposes of the buy-back programme

On 27 May 2010, Compagnie Financière Richemont SA, Bellevue, Geneva (‘CFR’) announced a programme envisaging the buy-back of 10'000'000 of its own ‘A’ bearer shares over a two year period, representing 1.74 per cent of the capital and 0.96 per cent of the voting rights of the company. To 18 May 2011, 4'658’509 ‘A’ bearer shares had been repurchased within the scope of this programme, representing 0.81 per cent of the capital and 0.45 per cent of the voting rights of the company.

On 18 May 2011, the Board of Directors of CFR decided to extend the buy-back programme by an additional 5'000'000 ‘A’ bearer shares. The extended buy-back programme thus amounts to 15'000'000 ‘A’ bearer shares of CFR, representing 2.61 per cent of the capital and 1.44 cent of the voting rights of the company.

The shares acquired in the scope of the programme will be held in treasury to cover the obligations arising from the stock option plan, which benefits certain executives of the Richemont Group.

Execution of the buy-back programme - No special trading line

The share buy-backs will be implemented by UBS SA (Investment Bank division) under market conditions, either on SIX Swiss Exchange or on JSE Limited (where the shares would be acquired in the form of ‘depositary receipts’).

The repurchased shares will not be cancelled and the buy-back programme will not give rise to the opening of a special trading line. Information relating to the evolution of the extended buy-back programme will be published regularly on the following address: http://www.copa.ch

The buy-back period started on 27 May 2010 and will expire by 25 May 2012. The publication of the results of the buy-back programme will be published one trading day after its termination.

CFR reserves the right to stop to the buy-back programme at anytime and has no obligation to buy CFR shares in execution of the programme.

Share capital of the company

The share capital of CFR, amounting to CHF 574'200'000, is divided into 522'000'000 ‘A’ bearer shares with a nominal value of CHF 1.00 each and 522'000'000 ‘B’ registered shares with a nominal value of CHF 0.10 each. The ‘A’ bearer shares are included in the Swiss Market Index (SMI) and are traded on SIX Swiss Exchange.

Significant shareholders and Treasury shares

The significant shareholders of CFR (under Art. 20 SESTA) are as follows:

Relevant date

Domicile/head office

Kind of share

Number of shares

Voting rights (%)

Share capital (%)

Rupert Family

31.03.2011

Ch. de la Chênaie
50, 1293 Bellevue

"A"bearer shares
"B" registered shares

2'836’664

522'000’000

0.27

50.0

0.49

9.09

Public Investment Corporation

27.02.2008

ZA - Pretoria 0001,
South Africa

"A" bearer shares

32'633'436

3.13

5.68
Moreover, on 18 May 2011, CFR indirectly held (treasury shares), via Richemont Employee Benefits Limited, St. Helier, Jersey, 22'406’950 ‘A’ bearer shares representing 3.90 per cent of the capital and 2.15 per cent of the voting rights as well as options with the right to acquire up to 10'658’721 ‘A’ bearer shares, representing 1.86 per cent of the capital and 1.02 per cent of the voting rights; representing in total 5.76 per cent of the capital and 3.17 per cent of the voting rights of CFR.
Confidential Information

At the date of this announcement, CFR does not possess any unpublished information about the Company likely to significantly influence the decision of shareholders to participate in the buy-back programme.

Value number and ISIN

Value Number : 4503965

ISIN : CH0045039655