Results of the General Meeting of Picanol N.V.

The general meeting of Picanol nv for the financial year 2019 was held earlier on May 28, 2020. 31,606,400 voting rights (94.36%) of the total of 33,494,060 shares were either present or represented at the meeting. The general meeting approved the annual accounts, the annual report and the proposed appropriation of the result. It also granted discharge to the members of the board of directors and the statutory auditor for the exercise of their mandate during the financial year that ended on December 31, 2019. Following a proposal by the board of directors, the general meeting approved a gross dividend of 0.20 EUR per share. The dividend (coupon no. 11) will be payable with effect from May 27, 2020 (ex-date: May 25, 2020 – record date: May 26, 2020).

The general meeting also decided, on the recommendation of the board of directors, to extend the mandates of Mr. Luc Tack (executive, non-independent director), Pasma nv (represented by Mr. Patrick Steverlynck, non-executive, non-independent director) and Ann Vereecke bvba (represented by Mrs. Ann Vereecke, non-executive, independent director). These mandates are extended for a period of four (4) years, i.e. until the conclusion of the general meeting of 2024.

The presentation and minutes of the general meeting are published on the website of Picanol Group ( ).