DGAP-Adhoc

Steinhoff International Holdings N.V. : - Seite 2

Deloitte, the D&O Insurers and the Settling D&Os will support the proposed Steinhoff global settlement originally announced on 27 July 2020 and as subsequently revised.

Deloitte, the D&O Insurers and the Settling D&Os do 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 Dutch law suspension of payments process commenced on 15 February 2021 ("Dutch SoP") and the South African statutory section 155 scheme ("S155 Scheme") and certain other conditions are fulfilled, the D&O Insurers and the Settling D&Os have agreed to offer an amount of up to EUR 55.5 million for distribution to market purchase claimants in exchange for certain waivers and releases.

Provided that Steinhoff successfully completes the Dutch SoP and the S155 Scheme and certain other conditions are fulfilled, the D&O Insurers and the Settling D&Os have further agreed to offer an amount of up to EUR 15 million for distribution to certain contractual claimants.

Deloitte and D&O Insurers' agreement with ACGs

Deloitte and the D&O Insurers have had negotiations with certain representatives of MPC Claimants, known as the active claimant representatives (the "ACGs") in respect of the respective Deloitte and D&O Insurers' offers to MPC Claimants represented by the ACGs.

Both the Deloitte and D&O Insurers offers to MPC Claimants will become effective if 5 out of 6 ACGs accept or if Deloitte and the D&O Insurers otherwise agree.

Pursuant to arrangements between each of Deloitte and the D&O Insurers and the ACGs, and provided that Steinhoff successfully completes the Dutch SoP and the S155 Scheme and certain other conditions are fulfilled, the ACGs that accept the respective offers made by Deloitte and the D&O Insurers will collectively be entitled to receive cost compensation of up to EUR 6.5 million (as part of the agreement with Deloitte) and up to a further EUR 6.5 million (as part of the agreement with D&O Insurers).