Shareholder Structure

Significant stakes
According to Belgian law, a shareholder whose direct or indirect (together with affiliated parties with whom he acts in concert) stake reaches, exceeds or falls below a threshold of 5% or a multiple of 5% of the denominator (see below), has to disclose this. In addition the corporate bylaws of Agfa have specified that reaching, exceeding or falling below the initial threshold of 3% of the existing shares must also be disclosed. Based on the transparency declarations and information available from the shareholder, the most accurate shareholder structure is marked in the above piechart.

Denominator
According to the Belgian legislation (law of May 2, 2007 and the Royal Decree of February 14, 2008 relating to the publicity of large participations), the number of shares of the denominator is as follows: 128,888,282.

Transparency declarations
As of January 10, 2006, Agfa-Gevaert owns 4,068,012 shares in treasury and holds thus 3.15% of the voting rights.

* As of November 6, 2006, Pioneer Investment Management Ltd. owns 3,868,372 shares and holds thus 3.00% of the voting rights.

* As of November 2, 2007, Classic Fund Management AG owns 6,626,339 shares and holds thus 5.14% of the voting rights.

** According to a disclosure made according to the requirements of the Law of May 2, 2007, Franklin Templeton Investment Corp. (Toronto, Canada) holds, as per September 1, 2008, a stake in Agfa-Gevaert of 6,437,843 shares or 4.99%.

** According to a disclosure made according to the requirements of the Law of May 2, 2007, Franklin Templeton Investment Management Ltd. (Edinburgh, Scotland) holds, as per September 1, 2008, a stake in Agfa-Gevaert of 4,280,231 shares, or 3.32%.

Share buy-back
The Extraordinary Meeting of Shareholders of January 13, 2003 authorized to buy back up to 10% of the total outstanding shares (140 million shares). As of December 31, 2003 this program was completed.

Consequently, the Extraordinary Meeting of Shareholders of May 25, 2004 authorized to cancel 11.2 million shares and renewed the authorization to buy back 10% of the remaining 128.8 million shares.

The Extraordinary Meeting of Shareholders of May 24, 2005 approved the proposal for another renewal of this authorization.

The Board of Directors approved in July 2005, the execution of a first tranche of this program to buy back up to 3 percent of the outstanding shares.