SIPEF

Transaction in Own Shares • Dec 14, 2015

on the progress of the share buy-back

Further to the initiation of the share buy-back program announced on 22 September 2011, SIPEF reports the purchase of 6 447 shares on Euronext Brussels in the period of 7 December 2015 and 11 December 2015.

Date	Number of shares	Total amount (EUR)	Average Price (EUR)	Highest price (EUR)	Lowest Price (EUR)
07-12-15	1 263	63 440.49	50.23	50.42	50.00
08-12-15	1 500	75 533.76	50.36	50.45	50.10
09-12-15	1 644	82 357.78	50.10	50.25	50.00
10-12-15	990	49 507.00	50.01	50.30	49.91
11-12-15	1 050	52 468.50	49.97	50.00	49.85
Total	6 447	323 307.53	50.15	50.45	49.85

Since the start of the share buy-back program on 22 September 2011, SIPEF has bought back 90 082 shares for a total amount of 4 823 651.35 EUR. This corresponds to 1.0063% of the total shares outstanding.

The overview relating to the share buy-back program is available on: www.sipef.com/buyback.html

Schoten, 14 December 2015.

For more information, please contact:

F. Van Hoydonck,

managing director (GSM +32 478 92 92 82)

J. Nelis, chief financial officer

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

finance@sipef.com www.sipef.com (section "investor relations")

SIPEF is a Belgian agro-industrial company listed on Euronext Brussels. The company mainly holds majority stakes in tropical businesses, which it manages and operates. The group is geographically diversified, and produces a number of different commodities, principally palm oil. Its investments are largely long-term ventures in developing countries.