Ter Beke : reaches agreement on the intention to acquire Sigma’s operations in Belgium (Imperial) and the Netherlands (Stege

PRESS RELEASE

Regulated information - Insider Information

Lievegem, October 7, 2021 - 7:00 a.m.

Ter Beke Group reaches agreement on the intention to acquire Sigma's

operations in Belgium (Imperial) and the Netherlands (Stegeman)

Ter Beke Group ("Ter Beke"), an innovative Belgian fresh food group with a wide range of high-quality fresh food products & associated services, is proud to announce that it reached an agreement with Sigma on its intention to acquire 100% of the shares of Sigma's entities in Belgium and the Netherlands ("The Intented Transaction").

The Intended Transaction includes Sigma's six production facilities, five in Belgium (Lievegem, Cornby, Amando, Dacor, Champlon) and one in the Netherlands, as well as the Imperial and Stegeman brands, such as Marcassou™, Imperial™, Leielander™, Stegeman™ and Bistro™, and the brands licensed by Sigma (Aoste™, Justin Bridou™).

The aforementioned facilities and their employees continue to operate in their ordinary course. The Intended Transaction is expected to conclude in the following months, subject to clearance by competition authorities and respecting local employee consultation rights.

Piet Sanders, Ter Beke's CEO commented: "We are very excited to have reached an agreement with Sigma and we look forward to welcoming the Imperial and Stegeman employees to the Ter Beke family. Once approved, the combination will result in a more complete offering to our customers by adding established brands to our product portfolio, such as Marcassou, Stegeman and Aoste. Joining forces with Imperial and Stegeman will furthermore allow us to better respond to trends in the food market, such as the increased importance of snacking and the uptake of vegetarian and plant-based products. Together, we'll turn this into a success story that will enhance the company's growth in Belgium and the Netherlands".

About Sigma

Sigma is a leading multinational food company that produces, markets, and distributes quality branded foods, including packaged meats, cheese, yogurt and other refrigerated and frozen foods. Sigma has a diversified portfolio of leading brands and operates 70 plants and 210 distribution centers in 18 countries across its four key regions: Mexico, Europe, the United States, and Latin America. In 2020, Sigma reported sales of US $6.347 billion and EBITDA of US $684 million.

About Ter Beke

Ter Beke is an innovative Belgian fresh food group with a wide range of high-quality fresh food products and associated services operating commercially in many European countries.

We currently mainly specialise in the production and sale of processed meat products and ready meals, prepared at one of our 12 industrial locations in Belgium, the Netherlands, France, Poland and the United Kingdom. Ter Beke has some 2,650 employees. Ter Beke has been listed on Euronext Brussels since 1986 and in 2020 realised a turnover of EUR 717.4 million.

1

PRESS RELEASE

Regulated information - Insider Information

Contact

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

Piet Sanders*	Yves Regniers°
CEO	CFO
Tel. [phone]	Tel. [phone]
[e-mail]	[e-mail]

• Permanent representative of Leading for Growth BV ° Permanent representative of ESROH BV

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

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

2