What's cooking? (formerly: Ter Beke)

Notice of Dividend Amount • Jul 1, 2022

PRESS RELEASE Regulated information

Lievegem, 1 July 2022 – 6 p.m.

Result of the optional dividend in shares for the financial year 2021 – Notification pursuant to the Transparency legislation

Result of the optional dividend in shares for the financial year 2021

• 52.26% of the shareholders opt for shares

• Reinforcement of equity by EUR 2,625,322.00

The shareholders of Ter Beke SA (hereinafter "Ter Beke") have opted for 52.26% of their shares entitled to dividend for the contribution in kind of their dividend rights in exchange for new shares instead of the payment of the dividend in cash.

For Ter Beke, this leads to a strengthening of the shareholders' equity with EUR 2,625,322.00 (capital and share premium) through the creation of 26,789 new shares. The total number of Ter Beke shares will be, as of 1 July 2022, 1,821,006. The other dividends rights are paid in cash, which (including total withholding tax) represents a total cash distribution of EUR 4,551,546.00. This capital increase causes the debt ratio to decrease by approximately 0.7% compared to a 100% cash dividend payment.

The optional dividend avoids a cash out (in proportion to the contribution of the dividend rights in the capital of Ter Beke). In addition, Ter Beke will use the funds not paid in cash to possibly carry out additional debt-financed transactions in the future, in order to further realize its growth strategy.

The actual settlement of the dividend payment will take place on July 4, 2022 whereby, depending on the choice of the shareholder, the new shares, issued in exchange for the contribution of dividend rights, will be delivered, or the dividend for 2021 will be paid in cash, or a combination of the two previous payment methods will take place. The newly created shares will be listed from July 4, 2022 and will be tradable on Euronext Brussels from then on. The new shares participate in Ter Beke's results with effect from 1 January 2022 (first dividend payable in 2023).

Notification in accordance with Article 15 §1 of the Law of May 2, 2007 on the notification of major participations ("Transparency Law")

As a result of this capital increase and the issue of 26,789 new shares at a total issue price of EUR 2,625,322.00 - in particular EUR 75,804.88 capital and EUR 2,549,517.12 issue premium - the total share capital of Ter Beke as of 1 July 2022, amounts to EUR 5,152,904.16. The capital is now represented by 1,821,006 fully paid-up ordinary shares. No preference shares, nor outstanding options or warrants have been issued that entitle to shares. Each of the shares grants one voting right at the general meeting and these shares represent the denominator for purposes of notifications under the Transparency Act (i.e. notifications in the event of, among other things, reaching, exceeding or falling below the statutory or legal thresholds).

Finally, Ter Beke would like to thank its shareholders for their reaffirmed confidence in the company. The additional resources resulting from this operation will enable Ter Beke's further growth.

PRESS RELEASE Regulated information

Financial calendar

Contacts

Piet Sanders* Yves Regniers° CEO CFO Tel. +32 9 370 13 17 Tel. +32 9 370 13 17 piet.sanders@terbeke.com yves.regniers@terbeke.com *Permanent representative Leading for Growth BV °Permanent representative ESROH BV

Results first semester of 2022: 26 August 2022 before market opening

About Ter Beke

Ter Beke is an innovative Belgian fresh food group that commercialises a wide range of high-quality fresh food products and related services in many European countries.

Today, Ter Beke mainly specialises in the production and sale of processed meats and fresh ready meals from 12 industrial sites in Belgium, the Netherlands, France, Poland and the United Kingdom. Ter Beke employs approximately 2,750 people. Ter Beke has been listed on Euronext Brussels since 1986 and achieved a turnover of EUR 697 million in 2021.

For more information about Ter Beke, please visit www.terbeke.com