Legrand

Transaction in Own Shares • May 29, 2019

A French société anonyme with capital of EUR 1,067,780,596 Registered at 128, avenue du Maréchal de Lattre de Tassigny - 87000 Limoges, France 421 259 615 RCS Limoges

Limoges, May 29, 2019

SHARE BUYBACK PROGRAM APPROVED BY THE COMBINED ORDINARY AND EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS ON MAY 29, 2019

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Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and sustainable growth driven by acquisitions and innovation, with a steady flow of new offerings—including Eliot* connected products with enhanced value in use. Legrand reported sales of close to €6 billion in 2018. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 index. (code ISIN FR0010307819) - https://www.legrand.com

The Board of Directors of Legrand ("the Company") met on May 29, 2019 and agreed to set up a share buyback program as authorized by shareholders at the Ordinary and Extraordinary General Meeting held the same day.

Established in accordance with articles 241-1 and following of the General Regulation of the French Financial Markets Authority (Autorité des Marchés Financiers), this description is drawn up for the purpose of setting out the objectives and terms of Legrand's share buyback program set up by the Board of Directors of Legrand met on May 29, 2019 ("the Share Buyback Program"), pursuant to the authorization granted by the abovementioned General Meeting of Shareholders.

I. Number of shares and percentage of capital stock held by the Company

On May 24, 2019, the Company's capital stock consisted of 267,138,429 shares.

At the same date, the Company held 683,763 of its own shares.

II. Allocation by purpose of own shares held by the Company

On May 24, 2019, the 683,763 own shares held by the Company were allocated by purpose as follows:

• 78,635 shares under a contract to ensure liquidity of trading in shares in accordance with the Charter of Professional Ethics recognized by the French Financial Markets Authority (Autorité des Marchés Financiers) through an investment service provider acting independently;
• 340,128 shares allocated for implementation of performance share plans under the provisions of articles L. 225-197-1 and following of the French Commercial Code; and
• 265,000 shares to be cancelled.

III. Purposes of the new Share Buyback Program

Legrand envisages conducting or arranging for a share buyback for the purposes of:

• ensuring the liquidity and active operation of the market in Company shares by the intermediary of an investment services provider, acting independently under a liquidity contract in compliance with applicable regulations;
• implementing (i) any and all Company stock options plans in accordance with articles L.225-177 et seq. of the French Commercial Code or any similar plan; (ii) any and all Group employee share-ownership programs in accordance with articles L.3332-1 et seq. of the French Labour Code (Code du travail) or to provide for share allocations for employee profit-sharing and/or in lieu of discount according to applicable laws and regulations; (iii) any and all free share allocations pursuant to articles L.225-197-1 et seq. of the French Commercial Code, and any and all share allocations for employee profit-sharing, as well as providing hedging for such transactions at such times as the Board of Directors or the person acting on its behalf takes action, (iv) any allocation of shares to employees and/or corporate officers of the Company and/or the Group, according to applicable laws and regulations;
• holding and subsequently transferring shares by way of exchange or payment relating to a business acquisition, merger, demerger, or transfer of assets, it being stipulated that the number of shares acquired by the Company with a view to holding these and employing them at a later date as payment for or in exchange for a merger, demerger or transfer of assets may not exceed 5% of the Company's capital stock;
• delivering shares on the exercise of rights attached to securities providing immediate or future access to the equity of the Company, through redemption, conversion, exchange, presentation of a warrant, or in any other way;
• cancelling all or some of the shares thus purchased; or
• carrying out such other practices as may be permitted or recognized by law or by the French Financial Market Authority (Autorité des marchés financiers), or pursuing any other objective complying with applicable laws and regulations.

IV. Limit on the percentage of capital stock that may be acquired and maximum number of shares that may be purchased pursuant to the Share Buyback Program, types of securities that may be acquired under the Share Buyback Program, maximum price and terms of purchase

1. Maximum percentage of capital stock that the Company may acquire and maximum number of shares that may be purchased pursuant to the Share Buyback Program

The limit on the portion of capital stock that is authorized for purchase under the Share Buyback Program is 10% of the total number of shares representing the capital stock at the date of the Combined Ordinary and Extraordinary General Meeting of Shareholders held on May 29, 2019, with the proviso that, when shares are bought to ensure the market liquidity of Legrand shares under the conditions described above, the number taken into account for the calculation of this limit of 10%will be the number of shares bought less the number of shares resold during the term of the Share Buyback Program.

As provided under articles L. 225-209 and following of the French Commercial Code, the Company may not at any time hold, directly or indirectly, Legrand shares representing more than 10% of the total number of shares making up Legrand's capital stock at that time.

2. Types of securities that may be acquired under the Share Buyback Program

The only securities that may be acquired under this program are Legrand shares. The shares purchased and held by the Company will be deprived of voting rights and will carry no entitlement to payment of a dividend.

3. Maximum authorized unit purchase price

The maximum price that the Company may pay for shares purchased under the Share Buyback Program is €90 per share (excluding acquisition expenses) or the equivalent value of this amount in any other currency or currency unit established with reference to several currencies on the same date, it being noted that this price will be adjusted as necessary to reflect capital transactions, in particular incorporation of reserves or free share allocations and/or share splits or reverse splits.

The maximum amount allowed for the implementation of the Share Buyback Program is €1 billion (or the equivalent value of this amount in any other currency or currency unit established with reference to several currencies on the same date).

4. Terms of purchase

Shares may be purchased, sold, transferred or exchanged, directly or indirectly, in particular by any third party acting on behalf of the Company at any time within the limits authorized by laws and regulations, except at such times as Company shares may be the object of a tender offer, in one or more instalments, by any means, on or off any market, including via systematic internalisers or through OTC transactions, trading in blocks of shares or public tender offers, or through the use of any financial instruments or derivatives, including optionbased mechanisms such as purchases and sales of put and call options or by delivery of shares arising from the issuance of securities giving access to the Company's capital by conversion, exchange, redemption, presentation of a warrant or any other means, either directly or indirectly through an investment service provider.

V. Duration of the Share Buyback Program

The Share Buyback Program is to be implemented for a period of eighteen months from the authorization granted by the Combined Ordinary and Extraordinary General Meeting of Shareholders on May 29, 2019, which is to say up to November 29, 2020 at the latest.

VI. Investment service provider

Implementation of the Share Buyback Program

The Company will appoint an investment service provider acting independently to assist it in implementing the Share Buyback Program.

Liquidity contract

Under a contract signed on May 29, 2007 as subsequently amended, Legrand charged Kepler Cheuvreux with providing for the liquidity of Legrand shares and ensuring more regular trading. This contract complies with the Charter of Professional Ethics drawn up by AMAFI (French financial markets association) on March 8, 2011.

The total amount of this liquidity contract is currently €15 million.

VII. Transactions made under the previous share buyback program

Meeting on May 30, 2018, shareholders at the Combined Ordinary and Extraordinary General Meeting authorized the Board of Directors to implement, or have implemented by delegation, a share buyback program for a period of eighteen months. A detailed description of the program implemented by the Board of Directors on May 30, 2018 within the framework of the authorization mentioned above is published on the Company's website.

The Company made no use of derivative products.

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During the Share Buyback Program, any significant change in any of the information set forth above will be brought to the attention of the public as soon as possible in compliance with the provisions of article 221-3 of the General Regulations of the France's Financial Markets Authority (Autorité des marchés financiers).