Lotus Bakeries NV

M&A Activity • Nov 23, 2011

Press release Regulated information

LOTUS BAKERIES WANTS TO INVEST € 18 MILLION IN GINGERBREAD PRODUCTION AT KONINKLIJKE PEIJNENBURG

Koninklijke Peijnenburg, a part of Lotus Bakeries, plans to optimize its gingerbread bakeries in Geldrop and Sintjohannesga.

Management intends to close the now out-of-date bakery in Geldrop mid-2013 and to relocate production to the second bakery in Geldrop and to the bakery at Sintjohannesga in Friesland. For this Koninklijke Peijnenburg will invest heavily in both bakeries to enable it to react better and more flexible to the growing and changing demand for gingerbread. Management has informed personnel of this decision today and has submitted a request for an opinion and approval to the Koninklijke Peijnenburg Works Council.

As a result of this proposed decision, 8 jobs will be lost in mid-2013: 25 jobs will be lost in Geldrop, while 17 additional jobs will be created in Sintjohannesga. Forced redundancies in Geldrop cannot be excluded. Koninklijke Peijnenburg will discuss its social plan with the Works Council and the trade unions.

Koninklijke Peijnenburg plans to invest around € 18 million in Geldrop and Sintjohannesga in order to continue to produce the most tasty gingerbread in the most modern gingerbread bakeries. The one-off costs associated with these production optimizations amount to around € 1.7 million and will be recorded as costs already in 2011.

The Geldrop bakery will continue to specialize in the well-known Peijnenburg gingerbread. The bakery at Sintjohannesga in Friesland will focus mainly on luxury gingerbread, in individually wrapped gingerbread slices for on the way, including Snelle Jelle, and in Ware Wieger spiced gingerbread. By specializing both bakeries, Koninklijke Peijnenburg expects to be better able to react to the growing and changing demand for gingerbread.

Press release Regulated information

Koninklijke Peijnenburg

Koninklijke Peijnenburg B.V. has been producing gingerbread since 1883. This traditional Dutch product is naturally low in fat, a source a fibres, and contains no colouring agents. Since 1 July 2006 Koninklijke Peijnenburg has been part of Lotus Bakeries. For further information: www.peijnenburg.nl

Lotus Bakeries in a nutshell

Lotus Bakeries focuses on authentic specialties from the biscuit and cake world: caramelized biscuits (speculoos), gingerbread, cake specialties, waffles and pepparkakor biscuits. Lotus Bakeries, with headquarters in Belgium, is a dynamic, internationally oriented company with production facilities in Belgium, the Netherlands, France and Sweden, own sales organizations in 9 European countries and in the United States/Canada, and an export department for the other countries. With around 1200 employees, Lotus Bakeries produces and sells high-quality, tasty products under the Lotus, Peijnenburg and Anna's brand names. By maintaining a healthy balance between tradition and innovation, Lotus Bakeries indulges consumers with a unique range of products. In 2010 the Group achieved a turnover of EUR 264.8 million. The shares of Lotus Bakeries are listed on Euronext Brussels.

Jan Boone, CEO Rene Groen, General Manager Lotus Bakeries Koninklijke Peijnenburg

For further information, please contact:

Filip Standaert: tel. +32 9 376 26 01 filip.standaert@lotusbakeries.com

Further information on Lotus Bakeries can be found on www.lotusbakeries.com.