SNH: STEINHOFF INVESTMENT HOLDINGS LIMITED - Update On Conforama Refinancing

SNH: STEINHOFF INVESTMENT HOLDINGS LIMITED - Update On Conforama Refinancing

Update On Conforama Refinancing

Steinhoff International Holdings N.V.

(Incorporated in the Netherlands)

(Registration number: 63570173)

Share Code: SNH

ISIN: NL0011375019

Steinhoff Investment Holdings Limited

(Incorporated in the Republic of South Africa)

(Registration number: 1954/001893/06)

JSE Code: SHFF

ISIN: ZAE000068367

UPDATE ON CONFORAMA REFINANCING

Steinhoff International Holdings N.V. (the "Company" or "Steinhoff") and with its

subsidiaries, the "Group")

With regards to the Conforama refinancing negotiations, as reported on 11 April

2019, the company wants to highlight the following key terms in terms of the new

money financing (as part of financing materials which has been updated on the

Company´s website):

"Warrants: Issue of warrants in an amount equal to 49.9% of the issued share capital

of Conforama Holding SA to the New Money providers, which confer enhanced

governance rights by way of certain reserved matters and provide the right for New

Money providers to appoint two independent directors to the board of Conforama

Holding. The warrant issuance date is subject to certain milestones, but ultimately

31 December 2019 or in event of a sale before that date

Premium Amount: Call protection of 10 per cent. on any repayments or

prepayments for the first 3 years together with interest which may accrue up to the

end of year 2. Call protection of 5 per cent. shall apply from year 3 onwards. Call

protection shall be 6 per cent. with respect to any disposal of the Iberian business

initiated at the request of the majority New Money providers"

The Company will provide further updates as appropriate.

Shareholders and other investors in the Company are advised to exercise caution

when dealing in the securities of the Group.

JSE Sponsor: PSG Capital

Stellenbosch, 15 April 2019

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