Tessenderlo Group: gas-fired power plant update

PRESS RELEASE

March 5, 2022, 7:00 p.m. CET

TESSENDERLO GROUP: GAS POWER PLANT UPDATE

Tessenderlo Group (Euronext: TESB) today filed a new permit application with the Flemish Region for the construction of a new 900 MW combined cycle steam and gas (CCGT) power plant in Tessenderlo, Belgium.

In view of future auctions, Tessenderlo Group has adjusted its previously submitted project (an investment of approximately 500 million euros) to address the objections that led to the rejection of this application.

Based on the existing available production capacity and the expected development of electricity demand in Belgium, the group continues to see a need for high-tech and controllable capacity in the context of the energy transition.

About Tessenderlo Group

Tessenderlo Group is a diversified industrial group that focuses on agriculture, bio-residue recovery, energy and the provision of water-based industrial solutions. The group employs more than 4,800 people, is the leader in most of its markets and recorded a consolidated turnover of EUR 1.7 billion in 2020. Tessenderlo Group is listed on Euronext Brussels and is part of the Next 150 and BEL Mid. Financial news feeds: Bloomberg: TESB BB – Reuters: TESB.BR – Data feed: B:Tes

Media Relations

Investor Relations

Frederic Dryhoel

Kurt Dejonckheere

+32 2 639 19 85

+32 2 639 18 41

[email protected]

[email protected]

This Press release is available in dutch and english on the company website www.tessenderlo.com.

Warning

This document may contain forward-looking statements. These statements reflect management’s beliefs regarding future events as of the date of this document. In addition, they involve known and unknown risks, uncertainties and other factors that may cause actual results to differ from the results, performance or achievements expressed or implied by such forward-looking statements. Tessenderlo Group is providing the information contained in this press release as of the date of publication and, subject to applicable law, undertakes no obligation to update, clarify or correct the forward-looking statements contained in this press release to in light of new information, future events or otherwise. Tessenderlo Group accepts no responsibility for statements made or published by third parties (including employees who are not explicitly appointed by Tessenderlo Group) and, subject to applicable law, assumes no obligation to correct data, information, inaccurate conclusions or opinions published by third parties in connection with this press release or any other press release it publishes.

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