Picanol NV

AGM Information • Apr 25, 2012

PRESS RELEASE Regulated information Ieper, 29 May 2012 (17.40 CET)

EXTRAORDINARY GENERAL MEETING

An Extraordinary General Meeting of Picanol NV was held today. On a total of 17,700,000 shares, 15,652,468 (88.43%) shares were present or represented at the meeting.

At the Extraordinary General Meeting, the shareholders unanimously decided to ratify the decisions as approved at the Annual General Meeting of 18 April 2012 and the Extraordinary General Meeting of 18 April 2012.

The minutes of the Extraordinary General Meeting can be consulted on the website of the Picanol Group (www.picanolgroup.com).

About the Picanol Group

The Picanol Group is an international, customer-oriented group specialized in the development, production and sale of weaving machines and other high-technology products, systems and services.

The Weaving Machines division (Picanol) develops, manufactures and sells high-tech weaving machines based on air (airjet) or rapier technology. Picanol supplies weaving machines to weaving mills worldwide, and also offers its customers such products and services as training, upgrade kits, spare parts and service contracts. For 75 years, Picanol has played a pioneering role in the industry worldwide, and is one of the current world leaders in weaving machine production.

The Industries division covers all activities not related to weaving machines: Proferro comprises the foundry and the group's machining activities. It produces cast iron parts for e.g. compressors, pumps and agricultural machinery, and parts for Picanol weaving machines. Through PsiControl Mechatronics, the group specializes in the design, development, manufacturing and support of technological components, services and mechatronical system solutions for original equipment manufacturers in various industries. Melotte develops and produces innovative product solutions using Direct Digital Manufacturing (DDM) and Near-to-Net-Shape Manufacturing (NNSM) technologies.

In addition to the headquarters in Ypres (Belgium), the Picanol Group has production facilities in Asia and Europe, linked to its own worldwide sales and service network. In 2011, the Picanol Group realized a consolidated turnover of 466.95 million euros. The Picanol Group employs more than 1,900 employees worldwide and is listed on NYSE Euronext Brussels (PIC).

For further information please contact: Frederic Dryhoel, Corporate Communication Manager, at +32 (0)57 22 23 64 or by e-mail: frederic.dryhoel@picanol.be

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