SIPEF

Major Shareholding Notification • Jul 3, 2020

The connection to the world of sustainable tropical agriculture

Disclosure of a transparency notification

On 2 July 2020, SIPEF received a notification in accordance with the Law of May 2nd, 2007 on disclosure of important shareholdings, relating to (i) a crossing of the threshold of 10% of the voting rights downwards by Cabra NV and (ii) the change in the composition of the Bracht Group. These movements in SIPEF's shareholding result from the partial division of Cabra NV on 30 June 2020 by the creation of three new companies: Cabra P, Cabra T and Cabra V, controlled respectively by Priscilla Bracht, Theodora Bracht and Victoria Bracht. On this partial division, 100 000 SIPEF shares were contributed to each of the newly created companies. Following this operation, Cabra NV holds 9.46% of the voting rights of SIPEF. The partial division does not affect the total number of SIPEF shares held by Bracht Group, nor the shareholders' agreement concluded with Ackermans & van Haaren NV, on the basis of which the latter company exercises joint control over SIPEF together with the Bracht Group.

The relevant data of this transparency notification are the following:

• total number of shares SIPEF: 10 579 328
• total number of voting rights owned by persons required to disclose (see: chain of control):

	Previous notification	After the transaction
	Number	Number		%
	of voting rights	of voting rights		of voting rights
Stichting Administratiekantoor "Het Torentje"	0	0		0.000%
Ackermans & van Haaren NV	3 668 770	3 668 770		34.679%
SIPEF own shares	160 000	160 000		1.512%
Subtotal	3 828 770	3 828 770		36.191%
Priscilla Bracht	0	0		0.000%
Theodora Bracht	2 000	2 000		0.019%
Victoria Bracht	0	0		0.000%
Cabra P	0	100 000		0.945%
Cabra T	0	100 000		0.945%
Cabra V	0	100 000		0.945%
Cabra NV	1 301 032	1 001 032		9.462%
Subtotal	1 303 032	1 303 032		12.316%
Total	5 131 802	5 131 802		48.507%

* * *

The control chain is the following:

1. Chain of control above Ackermans & van Haaren NV

• I. Ackermans & van Haaren NV is directly controlled by Scaldis Invest NV, a company incorporated under Belgian law.
• II. Scaldis Invest NV is directly controlled by Belfimas NV, a company incorporated under Belgian law.
• III. Belfimas NV is directly controlled by Celfloor SA, a company incorporated under Luxembourg law.
• IV. Celfloor SA is directly controlled by Apodia International Holding BV, a company incorporated under Dutch law.
• V. Apodia International Holding BV is directly controlled by Palamount SA, a company incorporated under Luxembourg law.
• VI. Palamount SA is directly controlled by Stichting administratiekantoor "Het Torentje", incorporated under Dutch law.
• VII. Stichting Administratiekantoor "Het Torentje" is the ultimate controlling shareholder.

In accordance with article 11, §1 of the Law of 2 May 2007, Stichting administratiekantoor "Het Torentje" is acting under its own name and at the expense of the companies mentioned under (II) until (VI).

2. Chain of control above Cabra NV

Priscilla Bracht, Theodora Bracht and Victoria Bracht jointly exercise control over Cabra NV.

3. Chain of control above Cabra P NV, Cabra T NV en Cabra V NV

Cabra P NV, Cabra T NV en Cabra V NV are controlled by, respectively, Priscilla Bracht, Theodora Bracht en Victoria Bracht.

4. Chain of control above SIPEF (SIPEF own shares)

Ackermans & van Haaren NV and Bracht Group jointly exercise control over SIPEF.

This information will be published on www.sipef.com (section 'investors').

Translation: this press release is available in Dutch and English. The Dutch version is the original; the English version is a free translation. We have made every reasonable effort to avoid any discrepancies between the different language versions. However, should such discrepancies exist, the Dutch version will take precedence.

Schoten, 3 July 2020

For more information, please contact:

* François Van Hoydonck, managing director (GSM +32 478 92 92 82) * Johan Nelis, chief financial officer

Tel.: +32 3 641 97 00 Fax : +32 3 646 57 05

investors@sipef.com www.sipef.com (section "investors")

SIPEF is a Belgian agro-industry group listed on Euronext Brussels and specialised in the – as sustainable certified - production of tropical agricultural commodities, primarily crude palm oil and palm products. These labour-intensive activities are consolidated in Indonesia, Papua New Guinea and Ivory Coast and are characterised by broad stakeholder involvement, which sustainably supports the long-term investments.