Ackermans & van Haaren : reaches an agreement on the sale of Manuchar

ACKERMANS & VAN HAAREN REACHES AN AGREEMENT ON THE SALE OF MANUCHAR

JANUARY 14, 2022, 07.30

Regulated information within the meaning of the

Royal Decree of November 14, 2007.

Antwerp, January 14, 2022

Ackermans & van Haaren reaches an agreement on the sale of Manuchar

AvH Growth Capital, together with the Maas family and the Manuchar management, have signed an agreement with an affiliate of Lone Star Funds ('Lone Star') on the sale of 100% of the share capital of Manuchar. The transaction is foreseen to be closed in the second quarter of 2022, subject to antitrust approval.

Manuchar is a leading distributor of chemical products in emerging markets, headquartered in Antwerp. It complements its chemicals distribution activities with international trade services in steel, polymers and other raw materials. The group handles over 5 million metric tonnes of goods per year, generating c.2.5 billion USD in annual sales with local operations in over 35 countries and 125 locations.

AvH Growth Capital entered Manuchar's share capital in 2007 and holds a 30% participation alongside the Maas family and management. The partnership between AvH, the Maas family and management has enabled Manuchar to accelerate its expansion across geographies and end-markets through targeted investments in organisational capabilities, local teams and distribution assets. This has resulted in the further diversification of the company's product offering beyond its leading market positions in the Home Care sector to Agriculture, Food & Feed, Personal Care and other end-markets and in the further build out of a leading integrated distribution platform across geographies.

After 15 years of successful development under the current ownership, Manuchar's shareholders have decided that the group is ready for the

next phase of its growth story. The promising partnership between the management team and Lone Star will mark a new milestone in further building out Manuchar's leading chemical distribution platform across emerging markets.

Lone Star, founded by John Grayken, is a leading private equity firm investing globally in equity, real estate, credit and other financial assets. Since the establishment of its first Fund in 1995, Lone Star has organized 22 private equity Funds with aggregate capital commitments totalling more than 85 billion USD.

At the closing of the transaction, AvH shall be entitled to cash proceeds of approximately 140 million euros and realize an estimated capital gain of approximately 75 million euros. The final amounts depend on the actual closing date (expected in the second quarter of 2022).

John-Eric Bertrand, member of the executive committee of Ackermans & van Haaren: "We are proud of having contributed to Manuchar's impressive track record over the last 15 years. Manuchar has evolved from a logistics and trade services group to a leading integrated chemicals distributor across geographies with a diversified product offering. We are convinced that its talented management team and 2,250 employees across the world will, together with Lone Star, further build out the group's reputation as one of the most reliable chemical distributors for emerging markets."

Ackermans & van Haaren positions itself as the long-term partner of choice of family businesses and management teams to help build high- performing market leaders and contribute to a more sustainable world.

Ackermans & van Haaren is a diversified group operating in 4 core sectors: Marine Engineering & Contracting (DEME, one of the largest dredging companies in the world - CFE, a construction group with headquarters in Belgium), Private Banking (Delen Private Bank, one of the largest independent private asset managers in Belgium, and asset manager JM Finn in the UK - Bank Van Breda, niche bank for entrepreneurs and the liberal professions in Belgium), Real Estate & Senior Care (Nextensa, a listed integrated real estate group) and Energy & Resources (SIPEF, an agroindustrial group in tropical agriculture).

At an economic level, the AvH group represented in 2020 a turnover of

5.0 billion euros and employed 22,331 people through its share in the participations. AvH is listed on Euronext Brussels and is included in the BEL20 index and the European DJ Stoxx 600 index.

Website

All press releases issued by AvH and its most important group companies as well as the 'Investor Presentation' can also be consulted on the AvH website: www.avh.be. Anyone who is interested to receive the press releases via email has to register to this website.

Contact

For further information	Jan Suykens
please contact:	CEO - Chairman executive committee
e-mail: [e-mail]	Tel. [phone]

Financial calendar

February 28, 2022

Annual results 2021

Tom Bamelis	John-Eric Bertrand
CFO - Member executive committe	Member executive committee
Tel. [phone]	Tel. [phone]

Ackermans & van Haaren NV - Begijnenvest 113 - 2000 Antwerp - Tel. [phone] - [e-mail] - www.avh.be