SIPEF

Major Shareholding Notification • Aug 22, 2019

The connection to the world of sustainable tropical agriculture

Disclosure of a transparency notification

On 20 August 2019, SIPEF received a notification under the Law of 2 May 2007 on the disclosure of major shareholdings, with regard to the threshold crossing of 45% of the voting rights of SIPEF by Ackermans & van Haaren NV ("AvH") together with Cabra NV. As a reminder, AvH and Cabra NV exercise joint control over SIPEF by means of a shareholders agreement. The change in the shareholder structure is the result of purchases of SIPEF shares on the stock exchange by AvH on 14 August 2019. Following this transaction, AvH together with Cabra NV holds 45.98% of the voting rights of SIPEF, of which respectively 32.33% and 12.30% directly owned by AvH and Cabra NV and 1.35% own shares which SIPEF has in portfolio.

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 of voting rights	Number of voting rights	% of voting rights
Stichting Administratiekantoor "Het Torentje"	0	0	0.00%
Ackermans & van Haaren NV	3 233 236	3 419 930	32.33%
SIPEF own shares	0	143 300	1.35%
Subtotal	3 233 236	3 563 230	33.68%
Priscilla Bracht	0	0	0.00%
Theodora Bracht	0	0	0.00%
Victoria Bracht	0	0	0.00%
Cabra NV	1 301 032	1 301 032	12.30%
Subtotal	1 301 032	1 301 032	12.30%
Total		4 864 262	45.98%

* * *

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 governed by 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 SIPEF (SIPEF own shares)

Ackermans & van Haaren NV and Cabra NV 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 other language 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, 21 August 2019

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

finance@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.