Picanol NV

Earnings Release • May 13, 2020

PRESS RELEASE Regulated information¹ - inside information Ieper, May 13, 2020 – 5:40 pm CET

PICANOL GROUP: OUTLOOK 2020

Based on the current situation, Picanol Group can confirm it anticipates that the 2020 Adjusted EBITDA will be in line with 2019, which was impacted by the one-off inventory revaluation for -32.2 million EUR following the first-time consolidation of Tessenderlo Group.

Whilst the current uncertain macroeconomic climate as a result of COVID-19 (Coronavirus) is causing a slowdown in the global machine market, this is likely to be offset by the various segments of Tessenderlo Group.

Tessenderlo Group

Based on the current situation, Tessenderlo Group expects that COVID-19 will have no material impact on the financial results of the group and as such anticipates that the Adjusted EBITDA for the full financial year 2020 will be higher compared to 2019.

Picanol Group would like to emphasize further that it currently operates in a volatile political, economic, financial and health environment.

Financial calendar

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.

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.

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.