What's cooking? (formerly: Ter Beke)

Earnings Release • May 8, 2013

Press release 8 May 2013 – 8 a.m. Regulated information www.terbeke.com

TRADING UPDATE FIRST QUARTER 2013

Evolution of activities and results:

The consolidated turnover of Ter Beke in the first quarter of 2013 is similar to the turnover in the same period of 2012.

A higher turnover was realised in the processed meats division. The operational result of that division also increased compared to the same period in 2012. However, this increase could not entirely compensate the turnover and result decrease in the ready meals division.

In February 2013, the frozen ready meals sector was confronted with a scandal originating from the presence of horse meat or horse DNA in frozen ready meals which, according to the label, should not contain such meat or DNA.

Ter Beke only produces chilled ready meals. We deplore that these events also negatively impact our sector and in particular the turnover evolution in the ready meals division, even though Ter Beke's products were not at all concerned.

We concentrate fully on an open and transparent communication with our customers and our consumers and are doing our utmost to reconfirm our customers' confidence in our chilled products as soon as possible.

This requires additional promotions and investments, the cost of which will affect the first semester result but the effect of which may occur at a later stage. In view of these promotional activities, we have also asked our suppliers for a limited contribution to this investment, as it should be beneficial to the entire supply chain.

Prospects 2013:

It is at this stage impossible to assess how long the horsemeat scandal will continue to affect consumer confidence. The group is doing its utmost to neutralise the negative impact as soon as possible and the first signs of recovery are apparent.

Depending on this and save for any other unforeseen market circumstances, the group remains confident that the full year result 2013 can still equal that of 2012.

Press release 8 May 2013 – 8 a.m. Regulated information www.terbeke.com

CONTACTS

For questions about this press release or for further information, please contact:

Dirk De Backer René Stevens Company Secretary CFO Tel. +32 (0)9 370 13 17 Tel. +32 (0)9 370 13 45 dirk.debacker@terbeke.be rene.stevens@terbeke.be

You can also consult this press release and send your questions to us via the Investor Relations module of our website (www.terbeke.com)

FINANCIAL CALENDAR

General Meeting of Shareholders 2013: 30 May 2013 at 11 a.m. Dividend payment: 14 June 2013

First semester 2013 results 29 August 2013 before market opening Business update third quarter 2013: 8 November 2013 before market opening

TER BEKE IN BRIEF

Ter Beke (Euronext Brussel: TERB) is an innovative Belgian fresh foods concern that markets its assortment in 10 European countries. The group has 2 core activities: processed meats and fresh ready meals; it has 8 industrial sites in Belgium and the Netherlands and employs approximately 1,750 people. Ter Beke generated a turnover of EUR 421.1 million in 2012.

Processed Meats Division:

• producer and slicer of processed meats for the Benelux, the UK and Germany;
• 3 production plants in Belgium (Wommelgem, Waarschoot and Herstal) and 4 centres for the slicing and packaging of processed meats, 2 of which are in Belgium (Wommelgem and Veurne) and 2 in the Netherlands (Wijchen and Ridderkerk);
• innovating in the pre-packed processed meats segment;
• distribution brands and own brand names L'Ardennaise ® , Pluma® , Oligusto® and Daniël Coopman® ;
• employs approximately 1100 staff.

Ready Meals Division:

• produces fresh ready meals for the European market;
• market leader in chilled lasagne in Europe;
• 2 production sites in Belgium (Wanze and Marche-en-Famenne);
• brand names Come a casa® and Vamos® in addition to distribution brands;
• employs approximately 650 staff;
• joint venture The Pasta Food Company established in Poland (2011).