Picanol Group: publication of a transparency notification

PRESS RELEASE

Regulated information1

Ieper, December 14, 2022 - 5:40 pm CET

PICANOL GROUP: PUBLICATION OF A TRANSPARENCY NOTIFICATION (ARTICLE 14, FIRST PARAGRAPH OF THE BELGIAN LAW OF MAY 2, 2007, ON THE DISCLOSURE OF SIGNIFICANT SHAREHOLDINGS)

1. SUMMARY OF THE NOTIFICATION

Picanol Group received a transparency notification on December 13, 2022, indicating that Oostiep Group BV held 26,546,390 voting rights of the company on November 30, 2022, and that due to a change in the total number of voting rights, the 85% statutory threshold was crossed.

2. THE NOTIFICATION CONTAINS THE FOLLOWING INFORMATION

• Reason for the notification: passive crossing of a threshold
• Notification by: persons acting in concert
• Person(s) subject to the notification requirement: Patrick Steverlynck, Luc Tack, Manuco International nv and Oostiep Group BV
• Transaction date: November 30, 2022
• Crossed threshold: 85%
• Denominator: 31,271,806
• Notified details:

A. Voting rights

Previous notification

After the transaction

Holders of voting rights

Voting rights

Voting rights linked to

Voting rights

% of voting rights

% of voting rights not linked

securities

not linked to

linked to securities

to securities

securities

Patrick Steverlynck

1,100

1,100

0.00%

Manuco International

2,655,068

2,655,068

8.49%

nv

Luc Tack

0

0

0.00%

Oostiep Group BV

26,546,390

26,546,390

84.89%

Subtotal

29,202,558

29,202,558

0

93.38%

0.00%

B. Equivalent financial

After the transaction

instruments

Holders of equivalent

Type of financial

Expiration date

Exercise period or

% of voting rights

% of voting rights

Settlement

financial instruments

instrument

date

that may be

acquired if the

instrument is

exercised

0

0.00%

Total (A&B)

Voting rights

% of voting rights

29,202,558

93.38%

Chain of control:

Mr. Luc Tack controls Oostiep Group BV. Mr. Patrick Steverlynck controls Manuco International nv. The mutual agreement that exists between the two parties does not imply joint control.

By changing the total number of voting rights, there is a passive threshold crossing by Oostiep Group BV whereby the threshold of 85% is crossed.

1 The enclosed information constitutes regulated information as defined in the Royal Decree of November 14, 2007, regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.

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3. VARIOUS

The full text of the transparency notification received by Picanol Group is available on www.picanolgroup.com.

About Picanol Group

Picanol Group is a diversified industrial group and it is active worldwide in the fields of mechanical engineering, agriculture, food, energy, water management, the efficient (re)use of natural resources and other industrial markets. The group's products are used in a variety of applications, industrial and consumer markets. Picanol Group realized a consolidated turnover of 2.7 billion EUR in 2021. Picanol Group has approximately 7,000 employees worldwide and it is listed on Euronext Brussels (PIC) via Picanol nv.

For further information please contact:

Frederic Dryhoel, at [phone] or by e-mail:[e-mail].

This press release is also available on the Picanol Group corporate website:

www.picanolgroup.com.

The Dutch version of this press release is to be considered as the reference.

Disclaimer

This document may contain forward-looking statements. Such statements reflect the views of management regarding future events at the date of this document. Furthermore, they involve known and unknown risks, uncertainties and other factors that may cause actual results to be different from any results, performance or achievements expressed or implied by such forward-looking statements. Picanol Group provides the information in this press release as at the date of publication and, subject to applicable legislation, does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise. Picanol Group disclaims any liability for statements made or published by third parties (including any employees who are not explicitly mandated by Picanol Group) and, subject to applicable legislation, does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release it issues.

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