Steinhoff - technical update

All,

Per today’s update, Steinhoff continue to progress towards the conclusion of the restructuring - or at least its initial phase before the equity claims are determined.

All dates are now aligned with the long stop date since the company has agreed to paying 50bps to creditors consenting to request #4 which in turn received consent last week.

As regards the final steps in the restructuring of the SEAG cluster - notably the appointment of directors to the intermediate boards - the company raises the hope that those will be concluded prior to August 9th and thus that the restructuring concludes per end of August (as per plan since extension of long stop date).

Wolfgang