Bekaert NV

AGM Information • Jun 26, 2024

To whom it may concern

The undersigned, Isabelle Vander Vekens, Company Secretary of NV Bekaert SA, hereby certifies that the following is a true and accurate excerpt from the minutes of the meeting of the Board of Directors of NV Bekaert SA of 29 February 2024:

During a recent discussion with a wider group of banks, it was confirmed that there are significant benefits to implementing a liquidity arrangement. As a result, management recommends the restart of the liquidity arrangement, at volumes up to 20% of the average daily trading volume (ADTV) (the "Maximum Daily volume") (the "Liquidity Arrangement"). The cost of the contract is € 50 000 per annum. Management also recommends a change of provider from Kepler to BNP Exane, at the discretion of management and subject to the satisfactory completion of documentation. The plan is to recommence the Liquidity Arrangement once all documentation has been agreed upon.

The Board engages in a discussion. It believes that the Liquidity Arrangement is in the interest of the Company.

RESOLUTION

Upon the recommendation of the Audit, Risk and Finance Committee, the Board resolves:

• to approve, in accordance with, and subject to the conditions of, the mandate of the Extraordinary General Meeting of Shareholders of the Company of 13 May 2020, the proposed Liquidity Arrangement;
• that any two of the following persons, acting jointly and with the power of substitution, are hereby authorized to select and appoint the liquidity provider, and to negotiate, finalize, agree on the terms (including the start date) of, execute and amend (including to reduce the Maximum Daily Volume) any agreements and any other document implementing the Liquidity Arrangement in the name and on behalf of the Company:
  • o Yves Kerstens;
  • o Taoufiq Boussaid; and
  • o Kathryn Taylor,

(such persons, the "Authorized Signatories"); and

that because of (i) the size of the Liquidity Arrangement; (ii) the legal restrictions imposed on the trades under the Liquidity Arrangement; (iii) the fact that the authorization of the Extraordinary General meeting of Shareholders of 13 May 2020 is already public information; (iv) the fact that the final terms have not been set and that no contractual documentation has been reviewed or prepared in respect of the Liquidity Arrangement; and (v) the fact that the announcement of previous liquidity arrangements which had the same characteristics as the Liquidity Arrangement never had a significant impact on the price of the Bekaert share, the above decisions do not constitute inside information in the meaning of the EU Market Abuse Regulation.

Zwevegem, 29 March 2024

Isabelle Vander Vekens Company Secretary

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