Shareholder structure

Shareholder structure

A relatively large proportion of Rheinmetall AG's shareholders are institutional investors, with only a slight change in recent years. Around 28% of shareholders are private investors. At the beginning of 2026, we commissioned an external institute to analyse our shareholder structure as od December 2025. This involves, among other things, evaluating disclosures made by fund companies and other institutional shareholders.

Shareholder structure as at 31 december 2025

In %	2025	2024	2023	2022
Institutional investors	58	57	66	69
Europe	26	20	21	22
North America	24	28	37	40
Rest of the world	8	9	8	7
Private shareholders	28	27	23	21
Rheinmetall Treasury Stocks	0	0	0	0
Others	14	16	11	10

Largest shareholders by voting rights announcements

Treasury stock

The Annual General Meeting on 11 May, 2021 authorized the Executive Board to acquire treasury shares. This authorizes the Executive Board to acquire treasury bearer shares equivalent to a maximum of 10% of the share capital of 111.510.656 EUR up until 10 May 2026. Rheinmetall AG did not exercise this right in 2025.

Purchase and deployment of treasury stock:

As at	Number of shares	Share of treasury stocks in Rheinmetall shares
31/12/2025	121,504	0.3
30/09/2025	121,504	0.3
31/06/2025	121,504	0.3
31/03/2025	121,504	0.3
31/12/2024	121,504	0.3
30/09/2024	121,504	0.3
30/06/2024	121,504	0.3
31/03/2024	121,504	0.3
31/12/2023	141,356	0.3
30/09/2023	141,356	0.3
30/06/2023	141,356	0.3
31/03/2023	141,356	0.3
31/12/2022	177,184	0.4
30/09/2022	177,184	0.4
30/06/2022	177,184	0.4
31/03/2022	177,184	0.4
31/12/2021	255,201	0.6
30/09/2021	255,201	0.6
30/06/2021	255,201	0.6
31/03/2021	361,392	0.8

The percentages relate to the total number of shares issued (until 9 July 2009: 36,000,000 shares; since 10 July 2009: 39,599,000 shares, since 16 November 2015: 43,558,850 shares). The treasury stock is held in our portfolio.

Survey on trasury stock prior to 2021