Greenyard NV — Director's Dealing 2011

Apr 26, 2011

Press release

PinguinLutosa: Disclosure in accordance with the Law of 2 May 2007

Disclosure in accordance with the Law of 2 May 2007

In accordance with the provisions of article 14 of the Law of 2 May 2007 regarding the disclosure of major holdings in issuers whose shares are admitted to trading on a regulated market ('Transparency Law'), PinguinLutosa NV hereby notifies receipt of a number of notifications of participation.

There is a notification from UNION FERMIERE MORBIHANNAISE Société Coopérative Agricole, whose registered office is at 56500 Locminé (France), "Le Belvaux", relating to the contribution of their direct participation (856,898 shares or 7.41% of the total number of voting rights of PinguinLutosa) on 29 March 2011 in Food Invest International NV. As a consequence of this contribution, Union Fermière Morbihannaise SCA falls below the 5% notification threshold.

Also, PinguinLutosa NV notifies receipt of four notifications of participation, in accordance with the provisions of article 14 of the Law of 2 May 2007 regarding the publication of major shareholdings in issuers whose securities are admitted to trading on a regulated market ('Transparency Law'). The joint notifications relate to:

• 1) Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin and Société Industrielle Laitière du Leon SA who are acting in concert based on a shareholder agreement of September 2003. Together the persons acting in concert hold 59.66% of the total number of voting rights of PinguinLutosa.
• 2) Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin and Volys Star NV who are acting in concert based on a shareholder agreement of 1 September 2003. Together the persons acting in concert hold 59.25% of the total number of voting rights of PinguinLutosa.
• 3) Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin and Lur Berri SCA who are acting in concert based on a shareholder agreement of 17 September 2003. Together the persons acting in concert hold 66.95% of the total number of voting rights of PinguinLutosa.
• 4) Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin and KBC Private Equity NV who are acting in concert based on a shareholder agreement of 17

September 2004. Together the persons acting in concert hold 68.02% of the total number of voting rights of PinguinLutosa.

These 4 notifications relate to a passive exceeding of the threshold following the change of the "denominator" per 29 March 2011. Following this modification

• 1) the current concerted action between Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin and Société Industrielle Laitière du Leon SA crosses the 55% notification threshold;
• 2) the current concerted action between Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin and Volys Star NV crosses the 55% notification threshold;
• 3) the current concerted action between Hein Deprez, Food Invest International NV Stichting Administratiekantoor Pinguin and KBC Private Equity NV crosses the 65% notification threshold, and
• 4) the current concerted action between Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin and Lur Berri SCA crosses the 60% and 65% notification thresholds.

An overview of all current notifications received by PinguinLutosa, and the corresponding shareholder structure, is available on www.pinguinlutosa.com under the heading "Financial information > Information for the shareholders > shareholder structure and transparency".

Notifications

Notifications should be transmitted to both PinguinLutosa NV and the CBFA. Persons with a notification duty may submit their notifications to the company electronically for the attention of Mr. Steven D'haene, Chief Financial Officer: Steven.dhaene@pinguin.be, or by fax +32 (0)56 622 746.

Financial calendar

• Availability of annual report 2010: 27 April 2011 (17:45 hrs)

• General Meeting: 20 May 2011 at 14:00 hrs at Langemark, Poelkapellestraat 71 - Trading update Q3 2011: 27 October 2011 (17:45 hrs)

For additional information, please contact PinguinLutosa:

Herwig Dejonghe, CEO Mobile : 0475/27.05.62

Fixed line : 057/48.72.22 E-mail : investorrelations@pinguin.be

PinguinLutosa in a nutshell

PinguinLutosa (www.pinguinlutosa.com) is specialized in the development, production and sales of frozen products: vegetables, potato products (fries and specialities) and ready-to-use culinary preparations. Including the takeover of the deep-frozen vegetable activities of the French CECAB group (01-07-2011), announced in October 2010, and the takeover of Scana Noliko, announced in March 2011, the group will have 17 production sites in five different countries (Belgium, France, United Kingdom, Poland and Hungary) and sales offices on four continents.

In 2010 PinguinLutosa realised €483.6 million of sales. A total of 15 subsidiaries and sales offices in 4 continents are entirely dedicated to all customer segmentations: food industry, catering as well as large and medium commercial outlets and fast food. The Group maintains its own R&D centre for product and process innovation.