STEINHOFF INTERNATIONAL HOLDINGS N.V. - Update On Steinhoff Lender Consent Request
6 November 2020 12:15
Update On Steinhoff Lender Consent Request

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)
ISIN: ZAE000068367


Further to the announcement on 4 November 2020 (the “4 November Announcement”) by
Steinhoff International Holdings N.V. (“SIHNV” and together with its subsidiaries, “Steinhoff”),
SIHNV has been made aware of an administrative error in respect of the lender vote count
received for the Consent Request referred to in the 4 November Announcement.

SIHNV has been informed by the respective Agents under the SEAG First Lien Facilities
Agreement and under the SFHG 21/22 Facilities Agreement that a vote of one financial
creditor was incorrectly recorded as a consent whereas it was in fact a rejection of the
requests under the Consent Request.

The relevant vote is not material and does not change the overall effect of the approvals
received. The final votes in respect of the Consent Request, adjusted to reflect the updated
vote count, are set out below (with the variance from the vote levels reported in the 4
November Announcement also shown):

 Lender                 Approval Levels              Rejection Levels        Approval Levels after
 groupings                                                                   “Snooze”
 SFH 21/22        •     88.16% Total           •     3.83% Total         •   95.84% Total
                        Commitments                  Commitments             Commitments
                        (variance of -0.05%)         (variance of            (variance of -0.05%)
                  •     88.25% Facility A1           +0.05%)             •   95.92% Facility A1
                        (variance of -0.06%)   •     3.75% Facility          (variance of -
                                                     A1(variance of          0.06%)

 SFH 23           •     86.40% Total           •     5.16% Total         •   94.3% Total
                        Commitments                  Commitments             Commitments
                  •     86.36% Facility A2     •     5.17% Facility A2   •   94.35% Facility A2
 Lender                 Approval Levels              Rejection Levels        Approval Levels after
 groupings                                                                   “Snooze”
 SEAG First       •     88.60% Total           •     0.19% Total         •   99.78% Total
 Lien                   Commitments                  Commitments             Commitments
                        (variance of -0.19%)         (variance of            (variance of -0.22%)
                  •     88.88% Facility A1           +0.19%)             •   99.94% Facility A1
                        (variance of -0.06%)   •     0.05% Facility A1       (variance of -
                                                     (variance of            0.06%)

 SEAG             •     90.40% Total           •     5.50% Total         •   94% Total
 Second                 Commitments                  Commitments             Commitments
 Lien             •     88.57% Facility A2     •     6.60% Facility A2   •   93% Facility A2

 Hemisphere       •     96.79% Total           •     0% Total            •   100% Total
                        Commitments                  Commitments             Commitments

As a result of the update, SIHNV also notes:

    •   two financial creditors voted against the Consent Request;
    •   Steinhoff did not achieve the required support of 100% of the “SEAG Facility A1
        Creditors” and the “SEAG Facility A2 Creditors” which in any event will be the subject
        of the proposed UK scheme of arrangement.

Further Information

Further information on the Proposed Settlement, including a Frequently Asked Questions
document, is available on the following website:

On this website, claimants may submit their contact and claim details, inform Steinhoff of their
intention to support the Proposed Settlement and register for updates. Alternatively, Steinhoff’s
investor relations team can be contacted by email at

As usual, further updates will be provided in due course as the Group continues with the
implementation of the Proposed Settlement.

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

JSE Sponsor: PSG Capital

Stellenbosch, South Africa

6 November 2020

Date: 06-11-2020 12:15:00
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