DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V. : LAUNCH OF PLACING OF UP TO 370 MILLION SHARES IN PEPKOR HOLDINGS LIMITED 2021-09-13 / 17:15 The issuer is solely responsible for the content of this announcement.

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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

LAUNCH OF PLACING OF UP TO 370 MILLION SHARES IN PEPKOR HOLDINGS LIMITED Shareholders of Steinhoff International Holdings N.V. ("Steinhoff", the "Company" and with its subsidiaries, the "Group") are referred to the previous communications regarding the Group's proposed settlement of the global litigation ("Proposal"), as well as the announcements regarding the successful outcome of the meetings convened by Steinhoff International Holdings Proprietary Limited ("SIHPL") in terms of section 155(6) of the Companies Act 71 of 2008, as amended, for purposes of voting on the Proposal made by SIHPL to its scheme creditors in South Africa, and the meeting of the committee of representation convened under Steinhoff's Dutch composition plan for the purposes of voting on the Proposal made by Steinhoff to its scheme creditors in the Netherlands.

Further information regarding the Proposal is available at www.SteinhoffSettlement.com.

In order to assist in the funding of the settlement of the creditors embodied in the Proposal, Steinhoff has decided to launch an accelerated bookbuild of up to 370 million ordinary shares of no par value in Pepkor Holdings Limited ("Pepkor") ("Placing Shares") (the "Placing"), representing approximately 9.9% of the current issued shares, subject to acceptable pricing being achieved.

Steinhoff, through an indirect wholly owned subsidiary, currently owns 68.2% of the issued shares in Pepkor. As provided for in the Proposal, certain SIHPL section 155 contractual claimants and / or market purchase claimants elected, by 8 September 2021, to receive their Second Settlement Portion in shares ("Election PPH Shares"). The total Election PPH Shares amounted to approximately 300 million shares which will be distributed to those claimants at the closing of the global settlement process. These shares will be subject to a 180-day lock-up commencing from the date of transfer, which is expected to coincide with the closing of the global settlement process.

On successful conclusion of the Placing, assuming Steinhoff places all of the Placing Shares, and following distribution of the Election PPH Shares subject to the election, Steinhoff will retain ownership of approximately 50.1% of the issued shares in Pepkor. Assuming Steinhoff places all of the Placing Shares, the Placing will also increase the free float of Pepkor from approximately 31.8% to 41.7%, before giving effect to the distribution of the Election PPH shares.

Steinhoff continues to view Pepkor as a strategic investment for the Group, but will conclude the Placing in line with the objective of facilitating the implementation of the Proposal. In line with Steinhoff's intention to retain the remaining interest in Pepkor, Steinhoff has agreed to a 180-day lock-up period, except in the case of any Pepkor shares delivered after the date of this announcement to claimants that were not eligible for the Proposal, provided that any Pepkor shares received by such claimants will be subject to a 180-day lock-up beginning from the day such Pepkor shares are received.

Information relating to the Placing The Placing is offered to qualifying investors only (as set out in greater details in the disclaimer below) and does not and will not constitute, nor is it intended to constitute, an offer to the public to purchase any shares in any jurisdiction.

The Placing will be carried out by Goldman Sachs International and Investec Bank Limited (together, the "Managers") who are acting as joint bookrunners in respect of the Placing, pursuant to the terms of the agreement entered into between the indirect wholly owned subsidiary of the Company which owns shares in Pepkor and the Managers.

The book will open with immediate effect and is expected to close as soon as possible, at the discretion of Steinhoff. Pricing and allocations will be announced as soon as practicable following the closing of the book.

Information relating to Pepkor Information on Pepkor, including its most recent annual report, interim financial results and investor presentation, can be found on its website https://www.pepkor.co.za/. It should be noted that Steinhoff bears no responsibility for any information included on Pepkor's website.

The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE Limited.

Stellenbosch, South Africa 13 September 2021

Managers Goldman Sachs International Investec Bank Limited

Transaction Sponsor to Steinhoff Investec Bank Limited

South African Counsel to Steinhoff Werksmans

International Counsel to Steinhoff Linklaters LLP

International Counsel to the Managers Davis Polk & Wardwell London LLP

Disclaimer This announcement (the "Announcement") is restricted and is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America, Australia, Canada, Japan or any other jurisdiction in which such release, publication or distribution would be unlawful. This Announcement is for information purposes only, does not purport to be full or complete, is subject to change and shall not constitute or form part of an offer or solicitation of an offer to purchase or sell securities in the United States of America or any other jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any failure to comply with these restrictions may constitute a violation of securities laws of such jurisdictions. No reliance may be placed for any purpose on the information contained in this Announcement or its accuracy or completeness.

The distribution of this Announcement and the offering for sale of the Placing Shares in certain jurisdictions may be restricted by law. The Placing Shares may not be offered to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the shares in such jurisdiction. No action has been taken by Steinhoff or either Joint Bookrunner or any of their respective affiliates that would permit an offering of such securities or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by Steinhoff and the Joint Bookrunners to inform themselves about, and to observe, such restrictions.

The Placing Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold, directly or indirectly, in the United States of America, absent registration or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with applicable state and other securities laws. There will be no public offer of the Placing Shares in the United States of America or in any other jurisdiction.

Neither this Announcement nor the Placing constitutes or is intended to constitute an offer to the public in South Africa in terms of the South African Companies Act, 2008 ("the South African Companies Act"). In South Africa this Announcement is only directed at, and any investment or investment activity to which this Announcement relates is available only to, and will be engaged in only with, persons in South Africa who (i) fall within the categories of persons set out in section 96(1)(a) of the South African Companies Act or (ii) who are persons who subscribe, as principal, for Placing Shares at a minimum placing price of R1 000 000, as envisaged in section 96(1)(b) of the South African Companies Act.

In member states of the European Economic Area ("EEA"), this Announcement and any offer if made subsequently is directed exclusively at persons who are qualified investors within the meaning of the Prospectus Regulation. For these purposes, the expression Prospectus Regulation means Regulation (EU) 2017/1129.

In the United Kingdom this Announcement is only being distributed to, and is only directed at, and any investment or investment activity to which this Announcement relates is available only to, and will be engaged in only with, qualified investors within the meaning of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and who: are (i) investment professionals falling within Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order; or (iii) other persons to whom it may otherwise be lawfully communicated (all such persons together being referred to as "relevant persons"). Persons who are not relevant persons should not take any action on the basis of this Announcement and should not act or rely on it.

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September 13, 2021 11:15 ET (15:15 GMT)