Greenyard NV — Major Shareholding Notification 2011

Oct 27, 2011

Press release

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

Disclosure in accordance with the Law of 2 May 2007

PinguinLutosa NV notifies receipt of two 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, KBC Groep NV and KBC Private Equity NV who acted in concert based on a shareholder agreement of 17 September 2004. Following the transfer by KBC Private Equity NV of its entire participation in PinguinLutosa NV to Agri Investment Fund CVBA on 7 October 2011, the current concerted action between Stichting Administratiekantoor Pinguin and KBC Private Equity NV was terminated in concert.
• 2) Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin, M.R.B.B. CVBA, Agri Investment Fund CVBA, GIMV NV, GIMV-XL Partner Comm. VA and Adviesbeheer GIMV-XL NV who are acting in concert based on a shareholder agreement of 6 October 2011. Following the transfer by KBC Private Equity NV of its entire participation in PinguinLutosa NV to Agri Investment Fund CVBA on 7 October 2011, a new concerted action was concluded between Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin, M.R.B.B. CVBA, Agri Investment Fund CVBA, GIMV NV, GIMV-XL Partner Comm. VA and Adviesbeheer GIMV-XL NV. Together the persons acting in concert hold 68.02% of the total number of voting rights of PinguinLutosa NV.

These 2 notifications relate to an exceeding of the threshold following the transaction per 7 October 2011 as described above. Following this modification

• 1) the current concerted action between Hein Deprez, Food Invest International NV Stichting Administratiekantoor Pinguin, KBC Groep NV and KBC Private Equity NV was terminated, and
• 2) a new concerted action was concluded between Hein Deprez, Food Invest International NV, Stichting Administratiekantoor Pinguin, M.R.B.B. CVBA, Agri Investment Fund CVBA, GIMV NV, GIMV-XL Partner Comm. VA and Adviesbeheer GIMV-XL NV and this concerted action crossed the 65% notification threshold;

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 FSMA. 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@pinguinfoods.com, or by fax +32 (0)56 622 746.

Financial calendar

• Announcement of 2011 results: 20 March 2012 (17:45 hrs)
• Availability of annual report 2011: 25 April 2012 (17:45 hrs)

• Trading update Q1 2012: 25 April 2012 (17:45 hrs)

• General Meeting: 18 May 2012 at 14:00 hrs at Langemark, Poelkapellestraat 71

For additional information, please contact PinguinLutosa:

Steven D'haene, CFO:

Mobile	: +32 (0)476/50.99.10
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, fruits, 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 (01-09-2011) and the takeover of Scana Noliko (01-07-2011), the group has 17 production sites in five different countries (Belgium, France, United Kingdom, Poland and Hungary) and 19 subsidiaries and sales offices on five continents.

In 2010 PinguinLutosa realised €483.6 million of sales. The group is 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.