BIRK · Birkenstock Holding plc

Birkenstock entered into a $250 million accelerated share repurchase agreement with Goldman Sachs, reflecting management's view that the current share price undervalues the company's fundamental performance. The ASR allows for an initial delivery of approximately 6.0 million shares, or 80% of the shares initially underlying the agreement, based on the May 20 closing price of $33.21. Final settlement will depend on the volume-weighted average price during the term, with the company potentially receiving additional shares or making a cash payment. The repurchase will be funded through cash on hand and a draw on the revolving credit facility, with settlement expected by June 30, 2026. The move signals a strong commitment to returning capital to shareholders and confidence in the company's long-term growth trajectory.