Vandemoortele NV (the “Issuer”) has successfully raised 50,000,000 EUR through a public offer in Belgium of subordinated bonds with a tenor of 7 years and a gross coupon of 5.60% (the “Bonds”).

Since the maximum amount of 50,000,000 EUR was placed with retail and institutional investors, Vandemoortele decided together with Degroof Petercam and KBC to close the subscription period early on 24 June 2022 at 17:30 (CET).

In case of oversubscription through specific distribution channels, a reduction of the subscriptions may apply, i.e., the subscriptions will be scaled back proportionally, with an allocation of a multiple of EUR 1,000 and, to the extent possible, a minimum nominal amount of EUR 1,000 which corresponds to the Denominations of the Bonds. Subscribers will be informed regarding the number of Bonds that have been allotted to them as soon as possible by the relevant financial intermediary.

The bonds are intended to be listed on Euronext Brussels as from 4 July 2022 (ISIN code BE0002867480).

Herman Van Steenstraeten, CFO of Vandemoortele: “The success of the issuance is a clear signal of the confidence of investors in Vandemoortele, even in the current volatile environment. It will help us in the further development and execution of the strategy in both our business lines.”

This press release must be read together with the prospectus which can consulted on the websites of Vandemoortele (https://vandemoortele.com/en/tags/investor-news/financial-instruments), of Bank Degroof Petercam (https://www.degroofpetercam.com/nl-be/vandemoortele-2022 (NL) or https://www.degroofpetercam.com/fr-be/vandemoortele-2022 (FR)) and of KBC (www.kbc.be/bonds/vandemoortele2022 (NL) or www.kbc.be/fr/bonds/vandemoortele2022 (FR)). A paper copy of the prospectus is also available at the registered office of Vandemoortele, at Ottergemsesteenweg-Zuid 816, 9000 Ghent.

Press releases and communications to investors

About Vandemoortele

Vandemoortele was founded in 1899 as a Belgian family business. Over the last two decades, Vandemoortele became a European food company with leading positions in two product categories: Bakery Products (BP) and Margarines, Culinary Oils & Fats (MCOF). Vandemoortele focuses on supplying innovative and high-quality products.

In 2021 Vandemoortele realised a turnover of around EUR 1.3 billion. Vandemoortele has commercial offices in 12 European countries, as well as in the United States with in total 29 own production sites. From its production sites it exports its products to 95 countries worldwide.

Press contact:

Marc Croonen

Chief Human Resources, Sustainability, EHS & Communication

Marc.croonen@vandemoortele.com

+32 473 924 575

Important information

THIS ANNOUNCEMENT IS NOT INTENDED FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION IS PROHIBITED BY APPLICABLE LAW.

This communication does not constitute a public offer to sell or subscribe for any securities (including the Bonds), or an invitation to make a public offer to buy or subscribe for any such securities, and securities (including the Bonds) will not be sold or subscribed for in any jurisdiction where such offer, invitation, sale or subscription would be illegal without prior subscription or qualification under the financial laws of such jurisdiction.

The issuance, subscription or purchase of securities (including the Bonds) is subject to special legal or regulatory restrictions in certain jurisdictions. The Issuer shall not be liable in the event of any violation of such restrictions by any person.

No public offering of any securities referred to in this document will be made in the United States. The securities referred to in this document have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any other securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold or delivered in any other manner, directly or indirectly, within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws.

The Bonds have not been approved or rejected by the U.S. Securities and Exchange Commission, any other securities regulatory authority of any state or any other regulatory authority of the United States, nor have such authorities reviewed the adequacy of this proposed offering or the adequacy or accuracy of this document.

The Bonds may not be sold to the public in any Member State of the European Economic Area ("Member State") except to the public in Belgium and, otherwise, in all other circumstances falling within Article 1(4) of the Prospectus Regulation, provided that no prospectus pursuant to Article 3 of the Prospectus Regulation or supplement to a prospectus pursuant to Article 23 of the Prospectus Regulation shall be required for any such offer of Bonds, and for the purposes of this paragraph, the expression "an offer to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the Bonds to be offered to enable an investor to purchase or subscribe to the Bonds.

    About Vandemoortele

    Vandemoortele was founded in 1899 as a Belgian family business, and has continued to grow and develop ever since. Over the last two decades, we became a European food company with leading positions in two product categories: Bakery Products (BP) and Margarines, Culinary Oils & Fats (MCOF). We are known for supplying innovative and high-quality products.

    In 2021 Vandemoortele realised a turnover of around EUR 1.3 billion with 4,800 (permanent and temporary) associates. The Vandemoortele Group headquarters are located in Ghent, Belgium. We have commercial offices in 12 European countries, as well as in the United States. We operate on more than 28 high-quality production sites all over Europe, in order to ensure proximity to all our key markets. We export from Europe to 95 countries worldwide.

    News & Media Contact

    Marc Croonen
    marc.croonen@vandemoortele.com