PRESS RELEASE Regulated information

16 April 2014 (17:40 am)

ANNUAL GENERAL MEETING PICANOL NV 2013

The General Meeting of Picanol NV for the financial year 2013 was held today. Out of a total of 17,700,000 shares, 15,684,402 (88.61%) were present or represented at the meeting.

The General Meeting approved the annual accounts, the annual report and the proposed appropriation of the result. The General Meeting also granted discharge to the members of the Board of Directors and the statutory auditor. At the proposal of the Board of Directors, the General Meeting has extended the mandate of Mr. Stefaan Haspeslagh as non- independent director for a period of four years, until the closure of the General Meeting of

2018. The General Meeting also passed a resolution confirming the adjustment of the non- executive directors' remuneration as from 1 January 2013.

The presentation and minutes of the General Meeting can be consulted on the website of the Picanol Group (www.picanolgroup.com).

About the Picanol Group

The Picanol Group is an international, customer-oriented group specialized in the development, production and sale of weaving machines and other high-technology products, systems and services. Division Weaving Machines: Picanol develops, manufactures and sells high-tech weaving machines based on air (airjet) or rapier technology. Picanol supplies weaving machines to weaving mills worldwide, and also offers its customers such products and services as weaving accessories, training, upgrade kits and spare parts. For more than 75 years, Picanol has played a pioneering role in the industry worldwide, and is one of the current world leaders in weaving machine production.

Division Industries:Proferro comprises the foundry and the group's machining activities. It produces cast iron parts for e.g. compressors, agricultural machinery, and Picanol weaving machines. Through PsiControl, the group specializes in the design, development, manufacturing and support of a.o. controllers for various industries. Melotte develops and produces innovative product solutions using Direct Digital Manufacturing (DDM) and Near-to-Net-Shape Manufacturing (NNSM) technologies.

In addition to the headquarters in Ypres (Belgium), the Picanol Group has production facilities in Asia
and Europe, linked to its own worldwide sales and service network. In 2013, the Picanol Group realized a consolidated turnover of 559.9 million euros. The Picanol Group employs some 2,000 employees worldwide and is listed on NYSE Euronext Brussels (PIC). The Picanol Group was founded in 1936 and celebrated its 75th anniversary in 2011.

For further information please contact: Frederic Dryhoel, Corporate Communication Manager, at

+32 (0)57 22 23 64 or by e-mail: frederic.dryhoel@picanol.be

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

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