PRESS RELEASE REGULATED INFORMATION

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31/08/2009 PRESS RELEASE REGULATED INFORMATION CONSOLIDATED RESULTS OVER FIRST HALFYEAR 2009 Net sales decrease with 14% over first half year EBITDA margins under pressure strong focus on costs

1 31/08/2009 PRESS RELEASE REGULATED INFORMATION CONSOLIDATED RESULTS OVER FIRST HALFYEAR 2009 Net sales decrease with 14% over first half year EBITDA margins under pressure strong focus on costs reductions Capex restrictions and improved working capital reduce Net Financial Debts Pricelevels bottomingout, but cost increase for raw materials and energy. 1. Highlights Over the first halfyear of 2009, VPK Packaging Group N.V. realised an Operational Cash Flow (EBITDA) of 23.6mio against 31.9mio last year (26,2%). The net result dropped by 13.7%. The overall financial and economical crisis, set in especially during the second half of previous year, persisted in the first half of this year. Against this background of decreasing demand and strong pressure on prices, VPK Packaging Group N.V. demonstrated good resistance during this first halfyear thanks to its integrated model, its geographical spread and the strong focus on cost reductions. Also during this first halfyear, the acquisition of Ondulys Saint Quentin S.A.S. was successfully completed and the implementation of this new entity is now a fact. Continuous focus on restricted investment costs and a subsequent optimisation of working capital resulted in a decrease of the net debt from 105mio at the end of December 2008 to 90mio by the end of June Both a restriction of terms of payment in France and the launch of a Receivables Purchase Program significantly improved the position of the working capital.

2 2. Key Figures IFRS data in mio EUR in mio EUR Evolution in % Net turnover Operating income Operational cash flow (EBITDA) (1) Operational cash flow (as % of operating income) Operating profit (EBIT) (2) Operating profit (as % of operating income) ,06 Net financing costs Profit before tax Taxes Profit Minority interests Group share profit Net cash flow (3) Total assets Shareholders equity Solvency ratio ( in % ) Number of shares 8,772,742 8,770,716 Ordinary profit per share (in EUR) (4) Net cash flow per share (in EUR) (4) (1) EBITDA = operating profit + depreciation + amortisation + write downs + provisions (2) EBIT = operating profit, i.e. earnings before financial earnings and taxes (3) Net cash flow = net profit + depreciation + amortisation + write downs + provisions (4) Calculated on the basis of the issued shares and corrected by the own shares in portfolio 3. Comments Netsales During the first half of 2009, consolidated sales decreased by 13.7% compared to the same period last year. This is due to both the decrease in demand and the continuous price erosion in our Paper and Packaging Division alike. With the same perimeter, sales dropped by 17.3 %. In our Paper Unit, sales to third parties dropped by 35.9% on an equal basis. In January 2009, we closed our Paper mill in the UK (Rigid Paper Ltd. at Selby) taking a production of 70,000 tonnes of paper out of the market. Paper prices reached a level at which several paper makers generated negative cashflows. The total sales (internal sales included) dropped by 24.0% on an equal basis.

3 In our Packaging Units, sales fell by 16.2% on a constant perimeter. However, thanks to the further development in Poland, the start of a new plant in Romania and the integration of both Saucas Europe POS N.V. and Ondulys St. Quentin S.A.S., the decline in sales within our Packaging Unit was limited to 8.7%. Operational Cash Flow (EBITDA) The EBITDA margin was down to 9.1% in comparison with 10.6% over the same period last year. During the second halfyear of 2008, the EBITDA margin came to 7.5%. This improvement of the margin is due to a decline of the energy costs on one hand and the implemented cost reductions on the other. Operating Profit (EBIT) Operating profit in the first halfyear was however limited by goodwill writeoff, a final assessment on machinery of the closed paper mill in Selby, as well as by an additional provision for personnel costs. Total of nonrecurrent depreciations amounted to 6.8mio. Financial result Where last years financial result was highly impacted by exchange losses, we now saw positive effects on exchange rates. Together with the realisation of badwill, this positively influenced our financial result. In comparison with the previous year, we now significantly reduced our exposure to exchange rates. Taxes Higher tax rates are mostly due to a restriction on recoverable losses. Net results The net result of the first halfyear amounts to 4,8mio compared to 20,5mio last year. Last year s net profit included a nonrecurring gain of 8.9mio on the sales of participations. Report of the Auditor The auditor, Grant Thornton, Lippens & Rabaey BVCV (Belgian Member Firm of Grant Thornton International), represented by Mr Stefaan Rabaey, explains that it carried out a limited review of the interim consolidated financial statements of the VPK Packaging Group at 30 June 2009, in accordance with the recommendations of the Instituut der Bedrijfsrevisoren in this regard. This review consisted primarily of the analysis, comparison and discussion of the financial information provided to it, and was consequently less extensive in scope than an audit aimed at providing an opinion as to whether the accounts give a true and fair view of the shareholders equity, financial position and consolidated results at the end of the financial year. This review did not bring any information to light that could require material modifications to be made to the interim financial statements. 4. Outlook 2009 The overall financial and economical crisis cause less demand on one hand and overcapacity on the other. The fall in demand seems to stabilise. Major startups within the paper industry in the second halfyear of 2009 will create additional challenges. The present economic climate induces to further caution. That is why VPK Packaging Group N.V. remains faithful to its strategy of cautious management, by further focusing on cost reduction and by keeping a strong balance sheet.

4 5. Business Profile VPK Packaging Group, listed on Euronext Brussels, is a vertically integrated Belgian packaging group with 26 companies spread over 12 European countries with an employment of people. VPK Packaging Group is a service organisation in which, apart from the product being produced, careful consideration is given to the specific needs. 6. Financial Calendar 12 th November 2009: Second interim report 16 th March 2010: Press release and publication of the provisional results for the financial year th March 2010: Analyst s meeting on press release and publication of the provisional results for the financial year th April 2010: General Meeting of the shareholders (financial year 2009) in the offices of VPK Packaging Group N.V., Villalaan 16 at 9320 Erembodegem Aalst second floor 14 th May 2010: First interim report 2010 For further information: Pierre MACHARIS, CEO VPK Packaging Group N.V. Luc LEDEGEN, Investor Relations luc.ledegen@vpk.be Tel.: +32 (0)

5 7. Summary notes (cfr IAS 34) The interim balance sheet and income statement for the first half of 2009 were drawn up in line with the accounting policies and processes used in the previous financial years. During the first half of 2009, the acquisition of Ondulys Saint Quentin S.A.S. (ex Mondi) was completed. There are no important facts to be mentioned after 30 th June 2009.

6 Annexes: 1. Consolidated Balance Sheet: CONSOLIDATED BALANCE SHEET ASSETS (EUR) 30/06/ /06/ /12/2008 NONCURRENT ASSETS Intangible assets, other than goodwill Goodwill Tangible fixed assets Noncurrent financial assets Interest bearing lonas and recievebales (noncurrent) Other noncurrent assets 1 1 Deferred tax assets TOTAL NONCURRENT ASSETS CURRENT ASSETS Assets held for sale Inventories Trade and other receivables (current portion) Tax receivables Other receivables Shortterm investments Cash and cash equivalents TOTAL CURRENT ASSETS TOTAL ASSETS

7 CONSOLIDATED BALANCE SHEET LIABILITIES (EUR) 30/06/ /06/ /12/2008 OWN CAPITAL CAPITAL AND RESERVES Issued capital Issue premiums Conversion difference reserves Own shares Reserves, profit/(loss) carried forward TOTAL CAPITAL AND RESERVES MINORITY INTERESTS AMOUNTS PAYABLE NONCURRENT Noncurrent provisions Pensions and similar obligations Deferred tax liabilities Noncurrent interestbearing liabilities Other noncurrent payables TOTAL NONCURRENT LIABILITIES AMOUNTS PAYABLE CURRENT Liabilities held for sale Current portion of noncurrent payables Current payables to credit institutions Provisions, current portion Trade and other payables Social security and tax payables Taxes payable Other liabilities TOTAL CURRENT LIABILITIES TOTAL EQUITY AND LIABILITIES

8 2. Consolidated Income statement CONSOLIDATED INCOME STATEMENT (in EUR) 30/06/ /06/2008 Operating income Sale of goods Other operating income Operating Expense Raw materials and consumables Changes in inventories Employee expenses () Wages and salaries () Provions for employment expenses () Amortisation () Depreciation () Provisions, other () Other operating expenses () Result from operating activities Gains (losses) on transfer of fixed assets Finance costs Result before tax Income taxes (total) Result after tax Minortiy interest share in the profit (loss) Profit (loss) for the financial year Key figures per share (in after correction by own shares in portfolio) 30/06/ /06/2008 Operationele Cash Flow (EBITDA) 2,69 3,64 Operating profit (EBIT) 0,28 2,07 Profit before tax 1,22 2,49 Net profit 0,54 2,30 Net cash flow 2,95 3,87 Number of shares

9 4. Equity Movement schedule (EUR) Capital Redeemed shares Share premium Conversion differences Badwill Reserves Total Capital & reserves Reserves Minorities Conversion diff. Minorities Total Balance per 31/12/ Result of the period Trade of the period Conversion differences Exchange rate differences Dividend Balance per 30/06/ Cash Flow statement I. Cash and Cash equivalents, opening balance II. CF from Operations III. Net CF from investments IV. Net CF from financing V. Net increase (decrease) in cash and cash equivalents VI. Cash and Cash equivalents, closing balance

PICANOL GROUP REALIZES THE STRONGEST HALF YEAR IN ITS HISTORY INCREASED TURNOVER FORECAST FOR 2016 BASED ON A WELL-FILLED ORDER BOOK

PRESS RELEASE Regulated information Half-yearly information figures H1 2016 24 August 2016 8u00 CET - Consolidated results H1 2016 - PICANOL GROUP REALIZES THE STRONGEST HALF YEAR IN ITS HISTORY INCREASED