Picanol NV

AGM Information • May 18, 2020

PRESS RELEASE Regulated information1 Ieper, May 18, 2020 – 5:40 pm CET

GENERAL MEETING OF PICANOL NV

The general meeting of Picanol nv for the financial year 2019 was held earlier today. 31,606,400 voting rights (94.36%) of the total of 33,494,060 shares were either present or represented at the meeting. The general meeting approved the annual accounts, the annual report and the proposed appropriation of the result. It also granted discharge to the members of the board of directors and the statutory auditor for the exercise of their mandate during the financial year that ended on December 31, 2019. Following a proposal by the board of directors, the general meeting approved a gross dividend of 0.20 EUR per share. The dividend (coupon no. 11) will be payable with effect from May 27, 2020 (ex-date: May 25, 2020 – record date: May 26, 2020).

The general meeting also decided, on the recommendation of the board of directors, to extend the mandates of Mr. Luc Tack (executive, non-independent director), Pasma nv (represented by Mr. Patrick Steverlynck, non-executive, non-independent director) and Ann Vereecke bvba (represented by Mrs. Ann Vereecke, non-executive, independent director). These mandates are extended for a period of four (4) years, i.e. until the conclusion of the general meeting of 2024.

The presentation and minutes of the general meeting are published on the website of Picanol Group (www.picanolgroup.com).

Financial calendar Payment of the dividend May 27, 2020 Half year 2020 results August 27, 2020

About Picanol Group

Picanol Group is a diversified industrial group and it is active worldwide in the fields of mechanical engineering, agriculture, food, 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 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 +32 (0)57 222 364 or by e-mail: frederic.dryhoel@picanol.be.

This press release is also available on the Picanol Group corporate website: www.picanolgroup.com.

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.

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.