NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY,

IN OR INTO THE UNITED STATES OF AMERICA, JAPAN, SWITZERLAND, CANADA OR AUSTRALIA, OR ANY
OTHER JURISDICTION IN VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. PLEASE SEE
THE IMPORTANT LEGAL NOTICE AT THE END OF THE PRESS RELEASE

This announcement is not an offer to sell, or a solicitation of an offer to buy the ordinary shares of Club
Brugge NV (the “Securities”). An investment in the Securities involves substantial risks and uncertainties.
Prospective investors are advised to carefully consider the information contained in the prospectus that Club
Brugge NV expects to publish after the approval of the prospectus by the FSMA, and which can then be
obtained at the offices of Club Brugge NV and on www.ipo.clubbrugge.be as well as on the website of Belfius
Bank NV on https://www.belfius.be/clubbrugge and, in particular in the section “Risk Factors”, before
investing in the Securities. Several material risks relate to the dependency of the financial performance of
Club Brugge NV and its subsidiaries (the “Company”) on the sporting success of the Company’s first team,
which cannot be guaranteed. In particular, it is highlighted that underperformance by the Company’s first
team may impact (i) the Company’s media rights revenues, as these depend, to a considerable extent, on the
participation and, to a lesser extent, on the performance of the Company’s first team in European football
competitions; (ii) the Company’s ability to identify, attract and develop talented players and transfer them to
other clubs generating a capital gain and thus impact gains on transfers; and (iii) the Company’s matchday
revenues, as an extended period of poor performance by the Company’s first team could have a material
adverse effect on the matchday attendance. In addition, infectious disease outbreaks, such as the ongoing
COVID-19 pandemic, have adversely affected, and may in the future adversely affect, the Company’s financial
performance, due to a negative impact on operating income. Investors should read in their entirety,
understand and consider all risk factors before making an investment decision to invest in the Securities.
Every decision to invest in the Securities must be based on all information provided in the prospectus.
Prospective investors must be able to bear the economic risk of an investment in the Securities and should
be able to sustain a partial or total loss of their investment.

Club Brugge announces its intention to float on Euronext Brussels

March [3], 2021

Knokke-Heist, Belgium -- Club Brugge NV, together with its subsidiaries (jointly “Club Brugge” or the “Company”), one
of the most popular and successful football clubs in Belgium, today announces its intention to launch an Initial Public
Offering (“IPO”) with admission of its ordinary shares to trading on the regulated market of Euronext Brussels (the
"Offering").

Highlights
• A 129-year heritage with a track record of 16 national championship titles in the Belgian first league, 15 Belgian
Super Cup titles and 11 Belgian Cup titles, consistently finishing in one of the top two positions in the Belgian
first league for the past six seasons.
• Played for the UEFA Champions League and the UEFA Europa League (or its historic predecessors, together,
“European Competitions”) 43 times out of the last 50 seasons. More recently, Club Brugge played in the
Champions League group stage in 4 of the last 5 seasons.
• Ongoing commercial growth, tailored to optimize diversified revenue and total operating income streams from
matchday, domestic and European media rights, commercial activities, including sponsorships, Club content
partnerships, advertising, and merchandising, and player trading.

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 • “Club Brugge” is a much loved brand, with top brand recognition and deep emotional, cultural and generational
connections in Belgium, in general, and in the Flemish Region, in particular.
• A highly loyal fan and sponsor base, resulting in consistent sold-out game day attendance, a leading on-line
following and stable corporate partners’ support.
• Regular participation in European Competitions, bringing significant visibility to the team and, together with an
industry leading data-driven recruitment and development experience, allowing the club to attract and develop
highly talented football players. This results in sustainable sports performance on the field which generates
higher player transfer returns, and, in turn, enhances the attractiveness of the Company for upcoming talent.
• A new 5-year domestic league media contract with Eleven Sports, underpinning stable and highly visible
revenues, and growing revenue streams from on-line and in-house media activities.
• Total operating income of €120 million in financial year 2019/2020 (IFRS - ending June 30 2020); EBITDAi of
€61 million (at a margin of 51%); and net profit of €24 million (at a margin of 20%).
• Resilient financial performance during the first half of the financial year 2020/21 despite restrictions on stadium
attendance. Strong EBITDA and net profit levels and a healthy balance sheet, with a net cash position as at
31 December 2020.
• Strong commercial upside through the planned development of a new 40,000 seat stadium.

Key strengths of the Company

Since Chairman Bart Verhaeghe and CEO Vincent Mannaert led the purchase of Club Brugge in 2012, the
management has been operating the Company as a highly professional and profit-focused business, that is well-
positioned to thrive in the global and European trends affecting the football landscape, especially the continued
evolution of leading football teams from sport organizations into media and entertainment enterprises.
Throughout this process, Club Brugge has benefited from its leading position in the Belgian first league (the Jupiler
Pro League 1A) to realize solid financial performance and continued growth, while implementing the principles of
transparent corporate governance throughout the organization.
This translates into the following key competitive strengths:
- Consistent results on the field: The Company’s leading position in the Belgian first league enables it to gain
regular access to the European Competitions which, in turn, results in significant revenues and an increase of
the Company’s visibility.
- Fanbase and brand strength: The Company has a broad, loyal and engaged fan-base and supportive
sponsor base, making the Company’s brand one of the most recognizable in Belgium. This deep brand
connection drives the Company’s matchday, media, on-line and commercial revenues.
- Media: The Company has been at the forefront of introducing new (social) media and follower engagement
technologies in its operations, with its own media house, studio, apps and service platforms.
- Leading technology: With its advanced, data-driven and risk-reducing player scouting and proprietary
development strategy, the Company is uniquely placed to capitalize on opportunities in the transfer market,
by identifying (local and international) talents and by developing them towards careers in bigger leagues.
- Considerable growth potential: A strong, highly visible revenue base with significant upside potential from
the planned development of its new stadium (the Company intends to move into a new purpose-built stadium,
adjacent to its existing Jan Breydel Stadium, for the opening of the 2023/2024 season).
- Stability: The Company has a highly experienced management team and committed shareholder base, with
a group of Belgian entrepreneurs at its core. The core shareholder base has been stable and in place since
the acquisition of the Company in 2012 and will remain at the Company, as reference shareholders, going
forward.

i Alternative performance measure that will be explained and reconciled with the financial statements in the prospectus.

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Chairman Bart Verhaeghe stated “This is a historic next step for the whole Club Brugge community and the logical
next phase in its development. Club Brugge’s historical legacy and sporting track record forms the basis of an iconic
and internationally recognized sports brand, backed by a community of over one million loyal fans. Our vision is to
continue on this path by growing the club further, building on the same heritage, work ethic and drive that have made
us such a passionate club. While this step enables Club Brugge to remain at the forefront of the key expected
evolutions in the football sector, the focus on our fans, the performance on the field and strong commercial
management will remain our guiding principles in the next phase of our development.”

CEO Vincent Mannaert noted: “Our unbelievably loyal fan base, our leading position in Belgian football, our regular
participation in European Competitions, and our highly profitable transfer model are the pillars of our consistent
financial performance. Club Brugge’s market position in a globalized football market creates sustainable, profitable
growth without compromising the performance on the field. Our focus on new technologies and new media, in
combination with our roots, heritage and entrenchment in the wider region of Brugge, creates a unique performance
environment. The anticipated IPO is a logical next step in our growth strategy, preparing Club Brugge for the future
and creating a new, enlarged and long-term shareholder base to share in our success on and off the pitch.”

Overview of offering
The Offering is expected to comprise the sale of existing shares with no new equity being issued. The intended IPO is
expected to consist of the sale of a portion of Club Brugge's ordinary shares held by Grizzly Sports NV, a vehicle that
will be owned by major shareholders Bart Verhaeghe, Vincent Mannaert, Jan Boone and Peter Vanhecke which, prior
to the offering, will have a combined 94.34% shareholding. The Offering is expected to be made available to
institutional and retail investors in Belgium and to institutional investors in certain other jurisdictions. The Offering is
expected to take place in the near future, subject to market conditions, and subject to the approval of the prospectus
by the Belgian Financial Services and Market Authority (the “FSMA”) and other relevant considerations. At closing of
the Offering, Grizzly Sports NV would remain the largest shareholder in Club Brugge. The Prospectus, when published,
will set out further details of the Offering.
The Offering is expected to further raise Club Brugge’s profile as a commercially run business within the football
industry, to create a new long-term shareholder base for Club Brugge, to enable direct ownership by its fans and to
provide liquidity for Grizzly Sports NV. The Offering will provide Club Brugge with better access to the capital markets
which, in the future, may help to fund additional growth and to further strengthen its operations and financial position.
The Offering will also allow Club Brugge to incentivize existing and future management and senior staff.
Credit Suisse, J.P. Morgan and Berenberg are acting as joint global coordinators for the Offering and as joint
bookrunners alongside Belfius Bank. Belfius Bank is also acting as retail coordinator.

Governance and management post-IPO

Bart Verhaeghe and Vincent Mannaert will retain their respective positions as Chairman and CEO of Club Brugge.
Club Brugge has an experienced management team comprising individuals with relevant sportive, commercial and
financial experience. The Chairman, the CEO and the other existing members of the board of directors (Jan Boone
and Peter Vanhecke), will at the closing of the IPO be joined by three new independent directors: Sangeeta Desai,
Lucy Quist and Cind Du Bois.

For further information, please contact:

Bob Madou
Chief Business Officer, Club Brugge
Tel. +32 504 02121
bob.madou@clubbrugge.be

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International media:

Charles Pretzlik / Ayrton Thevissen

Brunswick Group LLP
Tel. +44 20 7404 5959 / +32 2 235 65 10
ClubBrugge@brunswickgroup.com

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IMPORTANT LEGAL NOTICE

This announcement is being furnished to you solely for your information and may not be reproduced or redistributed,
in whole or in part, to any other person.

This announcement is not an offer to sell or a solicitation of an offer to buy the ordinary shares of Club Brugge or an
announcement of a forthcoming offer to sell or subscribe for or of a forthcoming solicitation of any offer to buy the
securities in Belgium, the United States or in any other jurisdiction. Any offer to acquire securities will be made, and
any investor should make his investment decision, solely on the basis of the information contained in the prospectus
to be made generally available in connection with the proposed offering and any supplements hereto, as the case may
be (the “Prospectus”).

This announcement is not a prospectus within the meaning of the prospectus regulation in relation to the offering. The
information contained in this announcement is for informational purposes only and does not purport to be full or
complete. Investors should not subscribe for any securities referred to in this announcement except on the basis of
information contained in the Prospectus that the company expects to publish after its approval by the Belgian Financial
Services Markets Authority. The Prospectus will contain detailed information about the company and its business,
management, risks associated with investing in the company, as well as financial statements and other financial data.
When made generally available, copies of the Prospectus may be obtained at no cost from the website of the Company
www.ipo.clubbrugge.be and the website of Belfius at https://www.belfius.be/clubbrugge. This announcement cannot
be used as basis for any investment agreement or decision. This document is not a prospectus for the purposes of the
prospectus regulation. This document cannot be used as basis for any investment agreement or decision. Acquiring
investments to which this document relates may expose an investor to a significant risk of losing the entire amount
invested. Persons considering making such investments should consult an authorised person specialising in advising
on such investments. This document does not constitute a recommendation concerning the securities referred to
herein.

This announcement is not an offer of securities for sale in the United States. The securities to which this announcement
relates have not been registered under the US Securities Act of 1933, as amended (the “Securities Act”) or the
applicable securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, pledged
or transferred, directly or indirectly, in the United States absent registration or an exemption from registration or in a
transaction not subject to the registration requirements under the Securities Act and applicable state securities laws.
There will be no public offering of the securities in the United States.

Any offer of securities to which this announcement relates is only addressed to and directed at persons in member
states of the European Economic Area (the "EEA"), other than Belgium, pursuant to applicable exemptions under
article 1(4) of the Regulation 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the
prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and
Repealing Directive 2003/71/EC (the "Prospectus Regulation"), including but not limited to persons who are "Qualified
Investors" within the meaning of Article 2(e) of the Prospectus Regulation (the "Qualified Investors"), or such other
investors as shall not constitute an offer to the public within the meaning of article 3.1 of the Prospectus Regulation.

No announcement or information regarding the Offering, listing or securities of the Company referred to above may be
disseminated to the public in jurisdictions other than Belgium where a prior registration or approval is required for such
purpose. No steps have been taken, or will be taken, for the offering or listing of securities of the Company in any
jurisdiction outside of Belgium where such steps would be required. The issue, exercise or sale of securities, and the
subscription for or purchase of securities, are subject to special legal or statutory restrictions in certain jurisdictions.
The Company is not liable if these restrictions are not complied with by any person.

This announcement is not being made, and this announcement has not been approved, by an authorised person for
the purposes of section 21 of the Financial Services and Markets Act 2000, as amended (the “UK FSMA”). This

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announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom or
to persons in the United Kingdom save in the circumstances where section 21(1) of the UK FSMA does not apply. This
announcement is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience
in matters relating to investments falling within article 19(5) of the UK FSMA (financial promotion) order 2005 (the
"Order") or (iii) are persons falling within article 49(2)(a) to (d) ("High Net Worth Companies, Unincorporated
Associations etc") of the order or (iv) to whom this announcement may otherwise be directed without contravention of
section 21 of the UK FSMA (all such persons together being referred to as "Relevant Persons"). This announcement
must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to
which this announcement relates is available only to relevant persons and will be engaged in only with relevant
persons.

The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose
possession this announcement comes should inform themselves about, and observe, any such restriction. Any failure
to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. By accepting this
announcement, you agree to be bound by the foregoing limitations

Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing the
entire amount invested. Persons considering such investments should consult an authorised person specialising in
advising on such investments. This announcement does not constitute a recommendation concerning the Offering.
The value of the securities can decrease as well as increase. Potential investors should consult a professional advisor
as to the suitability of the intended offering for the person concerned. The date of completion of listing on the regulated
market of Euronext Brussels may be influenced by things such as market conditions. There is no guarantee that such
listing will occur and investors should not base their financial decisions on the company's intentions in relation to such
listing at this stage.

The contents of this document may include statements that are, or may be deemed to be, "forward-looking statements".
in some cases, forward-looking statements can be identified by the use of forward-looking terminology, including the
words "believes", "estimates," "anticipates", "expects", "intends", "may", "will", "plans", "continue", "ongoing",
"potential", "predict", "project", "target", "seek" or "should" or, in each case, their negative or other variations or
comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions.
Forward-looking statements include statements regarding the Company's intentions, beliefs or current expectations
concerning, among other things, its results of operations, prospects, growth, strategies and dividend policy and the
industry in which the Company operates. By their nature, forward-looking statements involve known and unknown
risks and uncertainties. New risks can emerge from time to time, and it is not possible for the Company to predict all
such risks, nor can the Company assess the impact of all such risks on its business or the extent to which any risks,
or combination of risks and other factors, may cause actual results to differ materially from those contained in any
forward-looking statements. Forward-looking statements are not guarantees of future performance. Given these risks
and uncertainties, the reader should not rely on forward-looking statements as a prediction of actual results. Without
prejudice to the Company's obligations under applicable law in relation to disclosure and ongoing information, the
Company does not intend, and does not assume any obligation, to update forward-looking statements.

Credit Suisse Securities (Europe) Limited (“Credit Suisse”), J.P. Morgan Securities Plc (“J.P. Morgan”) and Joh.
Berenberg, Gossler & Co. KG (“Berenberg” and together with Credit Suisse and J.P. Morgan, the “Joint Global
Coordinators”)) and Belfius Bank NV (“Belfius” and together with the Joint Global Coordinators, the "Joint
Bookrunners") are acting for the Company and no one else in relation to the intended Offering, and will not be
responsible to anyone other than the Company for providing the protections offered to their respective clients nor for
providing advice in relation to the intended Offering.

None of the Joint Bookrunners or any of their respective affiliates or any of their respective directors, officers,
employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or
warranty, express or implied, as to the truth, accuracy or completeness of the information in this document (or whether
any information has been omitted from the document) or any other information relating to the company, whether written,

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oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising
from any use of this document or its contents or otherwise arising in connection therewith. each of the Joint
Bookrunners and each of their respective affiliates accordingly disclaim, to the fullest extent permitted by applicable
law, all and any liability whether arising in tort, contract or otherwise which they might otherwise be found to have in
respect of this document or any such statement or information. No representation or warranty express or implied, is
made by any of the Joint Bookrunners or any of their respective affiliates as to the accuracy, completeness, verification
or sufficiency of the information set out in this document, and nothing in this document will be relied upon as a promise
or representation in this respect, whether or not to the past or future.

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