DGAP-Ad hoc: Steinhoff International N.V.

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

Steinhoff - Hemisphere real estate valuation

Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group")

Stellenbosch, 3 April 2018 - Following a valuation by CBRE Limited ("CBRE") in respect of the real estate interests of Hemisphere International Properties B.V. (an indirectly wholly owned subsidiary of the Company) and its subsidiaries (such interests, the "Hemisphere Portfolio"), the Company considers it likely that the consolidated net book value of the Hemisphere Portfolio (once determined) will be materially lower than the EUR2.2 billion previously estimated by the Company and disclosed on its website in February 2018.

CBRE valued the Hemisphere Portfolio as at 1 February 2018 at approximately EUR1.1 billion on the basis of "fair value" according to IFRS 13 and assuming vacant possession which disregarded internal leases to Company related entities and considered only leases between an external third-party tenant and the relevant Hemisphere Group entity. The Company will consider CBRE's valuations in detail and will work with its auditors to determine the consolidated net book value of the Hemisphere Portfolio for the purposes of publication of the Company's consolidated financial statements for 2017.

Shareholders and other investors in the Company are advised to exercise caution when dealing in the securities of the Group.