Disclosure Of Inside Information - Steinhoff Global Settlement – Agreement With Deloitte And Conservatorium

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

DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ART. 17 OF THE EU MARKET ABUSE REGULATION (EU 596/2014, MAR)

STEINHOFF GLOBAL SETTLEMENT – AGREEMENT WITH DELOITTE AND CONSERVATORIUM

Steinhoff International Holdings N.V. (“SIHNV” or the “Company”, together with its subsidiaries,
“Steinhoff” or the “Steinhoff Group”) announces the following update on implementation of its
proposal to resolve the various multi-jurisdictional legacy litigation and claims against the
Steinhoff Group, including those against former South African holding company Steinhoff
International Holdings Proprietary Limited (“SIHPL”).

Conservatorium

Following a number of constructive engagements between the parties today an agreement
has been reached, in principle, between, among others, SIHNV, SIHPL, Conservatorium
Holdings LLC (“Conservatorium”) and certain entities linked to Christo Wiese. This agreement is
subject to a number of conditions. The result of the agreement reached among the parties is
that Conservatorium will withdraw its application to appoint a restructuring expert to SIHNV
pursuant to Article 371 of the Dutch Bankruptcy Act (enacting elements of the recently
enacted pre-insolvency proceedings, Wet Homologatie Onderhands Akkoord ter voorkoming
van faillissement).

Deloitte

SIHNV and SIHPL have today reached an agreement with Deloitte Accountants B.V. and
Deloitte and Touche South Africa (together, “Deloitte”) pursuant to which Deloitte will support
the proposed Steinhoff global settlement proposal announced on 27 July 2020. This means that
Deloitte will make additional compensation available to certain Steinhoff claimants, including
the market purchase claimants, in exchange for certain waivers and releases, provided that
Steinhoff successfully completes the contemplated Dutch “suspension of payments”
procedure (the “Dutch SoP”) and the statutory compromise process under South African law
(“S155 Scheme”).

Deloitte does not in any way admit liability for the losses incurred by Steinhoff and its
stakeholders as a result of the accounting irregularities at Steinhoff.

Provided that Steinhoff successfully completes the contemplated Dutch SoP and the South
African S155 Scheme and certain other conditions are fulfilled, Deloitte has agreed to offer an
amount of up to EUR 55.34 million for distribution to market purchase claimants in exchange
for certain waivers and releases.

In addition to the offer to market purchase claimants, provided that Steinhoff successfully
completes the contemplated Dutch SoP and the South African S155 Scheme and certain other
conditions are met, Deloitte has further agreed to offer an amount of EUR 15 million for
distribution to certain contractual claimants.

Further Information

The Steinhoff Group will provide further updates in respect of implementation of the global
settlement in due course.

Claimants will be able to review additional information and, in due course, submit their claim
details on the following website: www.SteinhoffSettlement.com.

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

14 February 2021


Contact:

Steinhoff International Holdings N.V.

Investor Relations

Tyrrel Murray

Phone: +27 21 808 0770

E-mail: tyrrel.murray@steinhoff.co.za

Date: 15-02-2021 07:05:00
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