Kaufman & Broad SA: AMENDMENT OF THE MANDATE FOR THE SHARE BUYBACK PROGRAM

Paris, March 10th, 2020

amendment OF the mandate for
THE SHARE BUYBACK PROGRAM

Kaufman & Broad SA had declared on October 10, 2018 it has signed with Rothschild Martin Maurel a share buyback mandate pursuant to the authorisation granted by the General Shareholders Meeting and renewed pursuant to amendment agreements dated December 18, 2018, February 8, 2019, July 16, 2019, October 25, 2019 and February 24, 2020.

On March 10, 2020, Kaufman & Broad SA decided to increase the amount allocated to the share buyback program, entrusted to Rothschild Martin Maurel as part of the mandate, by an additional

€ 2,000,000, in compliance with the applicable regulations.

It is specified that the terms of this mandate comply with the limits established by the General ordinary and extraordinary Shareholders meeting held on May 2, 2019. A description of the share buyback program is available here: www.kaufmanbroad.fr

This press release is available at www.kaufmanbroad.fr

Contacts

About Kaufman & Broad - Kaufman & Broad has been designing, building, and selling single-family homes in communities, apartments, and offices on behalf of third parties for more than 50 years. Kaufman & Broad is one of the leading French developers-builders due to the combination of its size and profitability, and the strength of its brand.

The Kaufman & Broad Registration Document was filed with the French Financial Markets Authority ("AMF") under No. D.19-0228 on March 29, 2019. It is available on the AMF (www.amf-france.org) and Kaufman & Broad (www.kaufmanbroad.fr) websites. It contains a detailed description of Kaufman & Broad's business activities, results, and outlook, as well as the associated risk factors. Kaufman & Broad specifically draws attention to the risk factors set out in Chapter 1.2 of the Registration Document. The occurrence of one or more of these risks may have a material adverse effect on the Kaufman & Broad Group's business activities, net assets, financial position, results, and outlook, as well as on the price of Kaufman & Broad's shares.

This press release does not amount to, and cannot be construed as amounting to a public offering, a sale offer or a subscription offer, or as intended to seek a purchase or subscription order in any country.