Vossloh AG’s Executive Board had resolved on October 15, 2008 to exercise the authority conferred by the May 31, 2007 and May 21, 2008 annual general meetings and to repurchase from the stock market up to 1,479,582 Vossloh shares, equivalent to a maximum of 10 percent of the capital stock. The Supervisory Board had approved the resolution.

The repurchased treasury stock may be used for any of the purposes stated in the above-mentioned AGM resolutions.

The price paid by Vossloh AG for one treasury share (excl. purchase incidentals) had to be neither below 5 percent of, nor more than 5 percent above, the average Vossloh stock price as quoted at the closing auction of the Xetra trade at the Frankfurt Stock Exchange during the five trading days preceding the treasury stock acquisition date.

The stock buyback program commenced on October 16, 2008, and should end not later than April 15, 2009. The stock repurchase was managed by a bank independently and uninfluenced by Vossloh AG and was implemented in accordance with the trading terms of EC Regulation No. 2273/2003 of the EU Commission dated December 22, 2003.

On March 20, 2009, the stock repurchase program was completed, Vossloh AG now owning 1,479,582 of the total 14,795,846 no-par shares issued, equivalent to 10 percent of the capital stock. The treasury shares were purchased at an average price of €71.86, incurring total expenses of about €106.3 million. Pursuant to Art. 71b AktG, Vossloh AG is not entitled to any rights or interests from such treasury stock.

On July 26, 2011, Vossloh AG’s Executive Board resolved, after obtaining Supervisory Board approval, to redeem and withdraw the 1,470,630 treasury shares without capital decrease.