Antwerp (BE), 20 September 2023, 7.30 AM CET


Press release pursuant to Article 7:97, §4, 1° Belgian Companies and
Associations Code

In the context of a potential transfer of the shareholding (in whole or in part) of Vlaamse
Participatiemaatschappij NV ("Reference Shareholder"), the Reference Shareholder and related
party of Gimv NV (the “Company”), as announced on 8 September 2023, the Company has been
requested to grant selected interested parties access to certain confidential information relating
to the Company and its activities in order to allow such interested parties to make an informed
decision on whether or not to acquire a shareholding in the Company.

On 19 September 2023, the board of directors agreed to the request of the Reference Shareholder
(the "Decision"), in accordance with the opinion of the committee of independent directors pursuant to
Article 7:97, §3 of the Belgian Companies and Associations Code. In doing so, the board of directors
considered the following:


• The Decision concerns a preparatory decision that precedes and facilitates the transaction
contemplated by the Reference Shareholder. Consequently, the board of directors considers that
the Decision does not directly affect the Company's shareholders.
• It is in the interest of the Company and all shareholders that a potential transaction is carried out on
the basis of accurate information and assumptions. Providing adequate information can also
contribute to securing a solid shareholder structure in accordance with the policy pursued by the
Company.
• The costs to the Company associated with the Decision are limited. They are expected to be
substantially less than 1% of the Company's net assets.
• Making information available was made subject to certain restrictions and conditions by the board
of directors in order to safeguard the interests of the Company.
• Any potential disadvantage associated with the Decision are deemed to be offset by the advantages
associated with the Decision.


The conclusion of the advice of the committee of independent directors reads as follows: "On the basis
of the considerations set out above, the assessment of the advantage or disadvantage of the Decision
to the Company and its shareholders, and the assessment of the financial consequences thereof, the
Committee, also on the basis of the advice of the independent expert, concludes that the approval of
the Decision is not of a nature to cause the Company a disadvantage that is not offset by other elements




Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - F +32 3 290 21 05 - www.gimv.com Page | 1
in the Company's policy, or would be manifestly unlawful. Accordingly, the Committee unanimously
grants a favorable advice to the board of directors of the Company to approve the Decision."


The auditor's assessment reads as follows: "Based on our review, nothing has come to our attention
that causes us to believe that the financial and accounting information set out in the advice of the
committee of independent directors dated 19 September 2023 and in the minutes of the board of
directors dated 19 September 2023, justifying the proposed transaction, is not, in all material respects,
consistent with the information available to us in the framework of our engagement."


ABOUT GIMV
Gimv is a European investment company, listed on Euronext Brussels. With over 40 years' experience in private equity, Gimv
currently has EUR 1.5 billion of assets under management. The portfolio contains around 60 portfolio companies, with combined
turnover of EUR 3.7 billion and more than 20,000 employees.

As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial, innovative companies with high
growth potential and supports them in their transformation into market leaders. Gimv's five investment platforms are Consumer,
Healthcare, Life Sciences, Smart Industries and Sustainable Cities. Each platform works with an experienced team across Gimv’s
home markets of Benelux, France and DACH, supported by an extended international network of experts.

Further information on Gimv can be found on www.gimv.com.



For further information please contact:

Kristof Vande Capelle, Chief Financial Officer
T +32 3 290 22 17 – kristof.vandecapelle@gimv.com




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