J Sainsbury plc has announced the commencement of a share buyback programme of up to £200 million, to be completed by the end of the financial year on 1 March 2025. The first tranche of the share buyback programme will be for a maximum aggregate market value equivalent to £150 million, to be bought back in the form of the Company's ordinary shares. The Programme will commence on 26 April 2024 and will end on or before 1 November 2024, with the sole purpose of reducing the Company's share capital. The Company has entered into non-discretionary instructions with UBS AG London Branch to conduct the Programme on its behalf and to make trading decisions independently of the Company. The Programme will take place within the limitations of the authority granted to the Board of the Company by its annual general meeting, held on 6 July 2023, pursuant to which the maximum number of shares to be bought back by the Company is 236,462,600. For further information, investors can contact James Collins at +44 (0) 7801 813 074, and media inquiries can be directed to Rebecca Reilly.