SOLV Solvac SA

Press ReleaseInside/regulated information

March 14, 2024, after 5.40 PM

1. The 2023 dividend of € 5.81 per share is increasing by 4.1 % compared to 2022.
2. The cash revenue1, powered by the inflow of dividends from its participation in Solvay, came to € 132.1 million higher than the 2022 revenue (€ 125.6 million) and is increasing compared to last year thanks to the rise of the Solvay dividend per share, as shown in the table below:

Insofar as the company statutory accounts authorise, it is on the basis of cash income1, that the Board of Directors determines the dividend amounts proposed for distribution by Solvac.

3. Modification of the financial reporting framework.

Solvac holds a stake in Solvay and Syensqo and exercises significant influence over their direction.The Board of Directors has decided to publish Solvac's financial statements as of December 31, 2023 exclusively according to the framework of Belgian accounting law while enriching it with additional notes useful for the good understanding of its activity by all stakeholders.Until now, Solvac presented its financial statements according to both the IFRS framework and the Belgian accounting law framework. The presentation according to the IFRS framework was published on a voluntary basis and did not result from any legal or regulatory obligation.Based on discussions with different stakeholders, it appears that the equity accounting of investments in companies over which Solvac exercises significant influence does not constitute relevant information for the reader of the financial statements. He is in fact interested in the fair value of our (now our two) participation(s), and in the impact that this (these) has (have) on Solvac's assets.

4. The Board of Directors reports the figures of the statutory accounts of Solvac SA in 2023 :

The 2023 net income is € 127.3 million (versus € 122.0 million in 2022). The increase of € 5.3 million mainly comes from the increase of the total dividend per share obtained from Solvay (€ 4.05 per share in 2023 compared to € 3.85 per share in 2022).

5. Two interim dividend payments were made, respectively on August 24, 2023 and on December 29, 2023, the second representing in principle the balance due, which the General Shareholders Meeting will be asked to approve. In total, each share received in 2023 a gross compensation increasing by 4.1 % compared to 2022 :

6. Distribution of dividends for the 2023 financial year by Solvay and Syensqo

The Board of Directors of Syensqo decided on March 11, 2024 to pay on May 31st, 2024, a dividend for the financial year 2023 coming to € 1.62 gross per share.

The Board of Directors of Solvay decided on March 12, 2024 to pay on June 05, 2024 the balance due on the dividend for the financial year 2023, which comes to € 0.81 gross per share. Taking into account the interim dividend of € 1.62 paid on January 17 2024, the gross dividend of Solvay sets at € 2.43 for the fiscal year 2023.

The Board of Directors of Solvac notes that during 2024, the sum of dividends paid by Solvay and Syensqo will amount to €4.05 per share, equal to the dividend paid in 2023.

NOTES

1. Statement from the statutory auditor

EY confirms that its audit work on the financial statements of Solvac SA, established according to the legal and regulatory framework applicable in Belgium, has been substantially completed. EY confirms that the financial information contained in this press release does not require any comment on its end and is consistent with the financial statements of Solvac SA. The complete audit report of the financial statements as well as the complete report of the Auditor relating to the audit of the annual financial information will appear in the 2023 annual report which will be published on the internet (www.solvac.be) on April 2, 2024.

2. Content

The risk management analysis is included in the annual report, which will be available on the Internet (www.solvac.be).

3. Solvac shares

4. Statement by the responsible persons

M. Jean-Marie Solvay, Chairman of the Board of Directors and M. Melchior de Vogüé, President of the Audit Committee, confirm that to the best of their knowledge: a) the financial statements, prepared in accordance with the applicable accounting standards, give a true and fair view of the assets, financial situation and results of the issuer;(b) the management report contains a fair presentation of the development of the issuer's business, results and situation, as well as a description of the main risks and uncertainties they face.

Key dates for financial communications

• April 2, 2024:                Publication of the 2023 annual report on www.solvac.be • May 28, 2024:               Ordinary General Meeting and Extraordinary Meeting of the Shareholders (2:30 pm) • August 2, 2024:            Results from the first half of 2024 and announcement of the first interim dividend for financial year 2024• August 27, 2023:           Payment of the first interim dividend for financial year 2024• December 18, 2024:      Announcement of the second interim dividend for financial year 2024• December 31, 2024:      Payment of the second interim dividend for financial year 2024

For more information, please contact:

SOLVAC S.A.Investor RelationsChamps Elyséesstreet, 43 B - 1050 BrusselsTel.: 32/2/639 66 30 Email: Investor.relations@solvac.be

Dit persbericht is ook in het Nederlands beschikbaar - Ce communiqué de presse est également disponible en français

Attachment

• Press Release Earnings 2023

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