IMERYS (EPA:NK) - IMERYS - DESCRIPTION OF THE SHARE BUY-BACK PROGRAM TO BE AUTHORISED BY THE ORDINARY AND EXTRAORDINARY SHAREHOLDERS’ MEETING ON MAY 4, 2018

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02/05/2018 16:42

a Limited Liability Company (Société Anonyme) with a share capital of
EUR159,208,570 registered office: 43 quai de Grenelle
75015 Paris - France 562 008 151 R.C.S Paris

Paris, May 2, 2018

DESCRIPTION OF THE SHARE BUY-BACK PROGRAM TO BE AUTHORISED BY THE ORDINARY AND
                 EXTRAORDINARY SHAREHOLDERS' MEETING ON MAY 4, 2018

I. Legal framework

Pursuant to provisions of article 241-2 of the general regulations of the
Autorité des Marchés Financiers (AMF - the French financial market authority)
and the European Regulation No. 2273/2003 of December 22, 2003, the purpose of
this description is to describe the objectives and the terms of the share
buyback program of the Company that will be submitted to the approval of the
Ordinary and Extraordinary Shareholders' Meeting on May 4, 2018.

II. Number and proportion of the share capital of the treasury shares held by
the Company

As of April 30, 2018:

- the share capital of the Company is made up of 79,604,285 shares of EUR2 of
  par value each, and
- the Company holds 428,223 treasury shares, i.e. 0.54% of the share capital.

The Company does not use derivatives with respect to its share buyback
programs.

Under the share buyback program approved by the Ordinary and Extraordinary
Shareholders' General Meeting of May 3, 2017, the Company renewed on June 1,
2017 the share purchase mandate entered into with an investment services
provider on June 1, 2016; it is noted that the Company also concluded an AMAFI
liquidity contract on February 16, 2017.

III. Breakdown by objectives of the treasury shares held by the Company

Among the 428,223 treasury shares held as of April 30, 2018:

- 393,223 are allocated for the purposes of subsequent cancellation,
- 35,000 are allocated for the purposes of ensuring the liquidity of the market
  under a liquidity contract.

IV. Objectives of the new share buyback program

The objectives of the program submitted to the approval of the Ordinary and
Extraordinary Shareholders' Meeting on May 4, 2018 intend to enable the Company
to purchase its own shares mainly for the purpose of:
- their subsequent cancellation by reducing the Company's capital;

- covering the stock purchase option plans and/or free share grant plans, as
well as any grant of shares under shareholding plans set up by the Company (or
assimilated plans), or with respect to profit-sharing and/or any other forms of
grant, award or transfer of shares to current employees, former employees
and/or corporate officers of the Company and/or any related companies pursuant
to articles L. 225-180 and L. 233-16 of the French Code of Commerce, within the
frame of the regulations in force or ad hoc plans set up by the Company;

- awarding or exchanging shares purchased on the occasion, in particular, of
rights exercises or issues of securities giving the right by redemption,
conversion, swap, warrant or in any other manner to the grant of shares;

- keeping shares with a view to their later transfer for exchange or payment,
under or following external growth, merger, split or contribution operations;

- ensuring the liquidity of the market through an investment services firm
acting in the name and on behalf of the Company, under a liquidity contract in
accordance with a code of conduct recognized by the AMF; and

- more generally, operating for any other purpose that is or may come to be
  authorized by law, and/or implementing any market practice that may come to
  be authorized by Autorité des marchés financiers.

V. Maximum proportion of the share capital, maximum number and characteristics
of the shares, maximum purchase price

- Maximum proportion of the share capital likely to be purchased -
  characteristics of the shares

The maximum number of shares the purchase of which is submitted to the approval
of the Ordinary and Extraordinary Shareholders' Meeting on May 4, 2018 is
3,980,214, representing 5% of the shares existing and outstanding as of January
1, 2018.

The shares that are concerned by the share buyback are the Imerys shares listed
on NYSE Euronext Paris stock exchange (ISIN code FR0000120859).

- Maximum purchase price and maximum and maximum authorized investment

The maximum purchase price would be EUR95 per share, representing a maximum
total investment of EUR378 million.

VI. Conditions of the share buybacks

Acquisitions will be carried out by any means, including the transfer of blocks
and the use of derivatives except during periods of public offers for the
Company's securities.

VII. Duration of the share buyback program

It is proposed to the Ordinary and Extraordinary Shareholders' Meeting on May
4, 2018 to set the term of the present program at eighteen months from the date
of the General Meeting, i.e. until November 3, 2019.

The present description was given to the AMF. It is available from the
Company's head office, 43 quai de Grenelle, 75015 Paris (France), and on the
Company's website (www.imerys.com -Finance section - permanent Regulated
Information section).

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IMERYS (EPA:NK) - IMERYS - DESCRIPTION OF THE SHARE BUY-BACK PROGRAM TO BE AUTHORISED BY THE ORDINARY AND EXTRAORDINARY SHAREHOLDERS’ MEETING ON MAY 4, 2018

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