Picanol NV — Major Shareholding Notification 2021

Mar 16, 2021

PRESS RELEASE Regulated information¹ - inside information Ieper, March 16, 2021 – 6:00 pm CET

PICANOL GROUP ACQUIRES MINORITY STAKE IN RIETER HOLDING AG

Picanol Group has today acquired a minority stake in Rieter Holding AG (SWX: RIEN), amounting to a total of 467,236 shares for a price of 45.4 million EUR (or a price per share of 107.5 CHF). Rieter is the world's leading supplier of systems for short-staple fiber spinning. The company develops and manufactures machinery, systems and components used to convert natural and man-made fibers into yarns.

As a result of the transaction, Picanol Group is now holding 10% of the share capital of Rieter Holding AG.

With the financial participation in Rieter Holding AG, Picanol Group wants to further diversify its activitiesin the textile industry and secure a stable shareholding for Rieter Holding AG in the long term.

FINANCIAL CALENDAR

Picanol Group will announce its financial results for 2020 on March 25, 2021 (before opening of the stock exchange).

About Rieter

Rieter (SWX: RIEN) is the world's leading supplier of systems for short-staple fiber spinning. Based in Winterthur (Switzerland), the company develops and manufactures machinery, systems and components used to convert natural and man-made fibers and their blends into yarns. Rieter is the only supplier worldwide to cover spinning preparation processes as well as all 4 end spinning processes currently established on the market. Furthermore, Rieter is a leader in the field of precision winding machines. With 15 manufacturing locations in 10 countries, the company employs a global workforce of some 4,420 people. Rieter realized a consolidated turnover of 516 million EUR in 2020.

About Picanol Group

Picanol Group is a diversified industrial group and it is active worldwide in the fields of mechanical engineering, agriculture, food, energy, water management, the efficient (re)use of natural resources and other industrial markets. The group's products are used in a variety of applications, industrial and consumer markets. Picanol Group realized a consolidated turnover of 2.2 billion EUR in 2019. Picanol Group has approximately 7,000 employees worldwide and it is listed on Euronext Brussels (PIC) via Picanol nv.

¹ The enclosed information constitutes regulated information as defined in the Royal Decree of November 14, 2007, regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.

Media contact: Frederic Dryhoel +32 (0)57 222 364, e-mail: frederic.dryhoel@picanol.be.

This press release is also available on the Picanol Group corporate website: www.picanolgroup.com

The Dutch version of this press release is to be considered as the reference.

Disclaimer

This document may contain forward-looking statements. Such statements reflect the views of management regarding future events at the date of this document. Furthermore, they involve known and unknown risks, uncertainties and other factors that may cause actual results to be different from any results, performance or achievements expressed or implied by such forward-looking statements. Picanol Group provides the information in this press release as at the date of publication and, subject to applicable legislation, does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise. Picanol Group disclaims any liability for statements made or published by third parties (including any employees who are not explicitly mandated by Picanol Group) and, subject to applicable legislation, does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release it issues.