Adler Modemärkte : EXPECTS TO RECEIVE IRREVOCABLE OFFER TO CONCLUDE AN INVESTOR AGREEMENT – FULL REDUCTION OF SHARE CAPITAL TO ZERO ENVISAGED

Disclosure of inside information pursuant to Article 17 of the Regulation (EU)

No 596/2014

published 21 June 2021, 20:13 CET

ADLER expects to receive irrevocable offer to conclude an investor agreement - full reduction of share capital to zero envisaged

Haibach (near Aschaffenburg), 21 June 2021: The management board of Adler Modemärkte AG (ISIN DE000A1H8MU) (the "Company") has taken notice of rumours that the Company will get a new investor with the logstics expert Zeitfracht.

The Company confirms that it is in advanced negotiations with Zeitfracht Logstik Holding GmbH, Berlin ("Zeitfracht" or "Investor"), and confident to obtain an irrevocable offer from Zeitfracht to conclude an investor agreement shortly. This will be an important step towards the restructuring of the Company, on which ADLER has been working intensively since 12 January 2021 as part of insolvency proceedings in self-administration. The acceptance of such an offer, however, will still be subject to the opening of insolvency proceedings, which the Company expects to take place on 1 July 2021. The Company assumes that it will be able to sign the investor agreement immediately after opening of the insolvency proceedings. Execution and implementation of the investor agreement will still be subject to the usual reservations. The Company is aiming to file an insolvency plan with the court after the opening of the insolvency proceedings on 1 July 2021. Based on current planning, the insolvency plan is then to be submitted to the creditors' meeting for a vote by the end of July 2021. It is expected that the insolvency plan will stipulate, among other things, a capital decrease in form of a reduction of the share capital of Adler Modemärkte AG to zero and an subsequent injection of new equity in the form of a capital increase by the Investor, which thereby will become Adler's sole shareholder. Thus, the existing shares of the Company will in all likelihood lose their value entirely. With the capital reduction becoming effective, the Company's shares will also be delisted. Ideally, the Company will be able to conclude the insolvency proceedings as early as the end of August 2021.

Press enquiries Adler Modemärkte AG: Peter Dietz

Media and Investor Relations Tel.: [phone]

e-mail: [e-mail]

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About Adler Modemärkte AG:

Adler Modemärkte AG, headquartered in Haibach near Aschaffenburg, Germany, is one of Germany's largest and most important textile retailers.The Group generated revenue of €495.4 million and EBITDA of €70.3 million in 2019. As at 31 December 2019, ADLER employed a workforce of around 3,600 and currently operates 172 stores, 143 of which are located in Germany, 24 in Austria, three in Luxembourg, two in Switzerland, plus an online shop. The Company focuses on large-space concepts offering in excess of 1,400 m2 of retail space. With its many own brands and select external brands, ADLER offers a highly diverse product range. Thanks to more than 70 years of tradition and strong customer loyalty, ADLER considers itself to be the market leader within its target group of affluent customers aged 55 and over. For more information: www.adlermode-unternehmen.com; www.adlermode.com

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