DGAP-News: Steinhoff International Holdings N.V. : FINANCIAL RESTRUCTURING - REQUEST FOR CONSENT TO EXTEND THE CVA LONG-STOP DATE

FINANCIAL RESTRUCTURING - REQUEST FOR CONSENT TO EXTEND THE CVA LONG-STOP DATE

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

Defined terms used but not otherwise defined in this announcement shall have the same meaning as in the company voluntary arrangement proposed in relation to Steinhoff Europe AG ("SEAG") and approved by the CVA Creditors on 14 December 2018 as amended from time to time (the "SEAG CVA") and/or the company voluntary arrangement proposed in relation to Steinhoff Finance Holding GmbH ("SFHG") and approved by the SFHG Creditors on 14 December 2018 as amended from time to time (the "SFHG CVA") (as applicable and as the context dictates). The documentation relating to the SEAG CVA and SFHG CVA can be downloaded at www.lucid-is.com/steinhoff.

CVA Consent Request No. 5

Despite significant progress having been made in the implementation of the Restructuring, including the resolution of almost all matters required prior to commencing the Restructuring Steps, a small number of matters outside of the control of SEAG and SFHG have not been concluded. The Company has launched CVA Consent Request No. 5 to extend the date for completion of the Group Restructuring to Monday 19^th August 2019.

The additional extension is required in order to allow sufficient time to put in place the final steps of the implementation of the Restructuring.

The remaining matters are expected to be resolved shortly and the Group continues to work to implement the Restructuring as soon as possible, including, if possible, prior to the current CVA Long-Stop Date of 9 August 2019. In the event it is not possible to complete all Restructuring Steps on or prior to 9 August 2019, CVA Consent Request No. 5 will provide the short additional time required.

The proposed extension will not affect the entitlements of any creditors pursuant to the CVAs.

Creditors should refer to the document entitled 'Steinhoff - CVA Amendment Consent Request No. 5' (available at www.lucid-is.com/steinhoff) for further information.

Instructions to CVA Creditors and SFHG Creditors

The Company seeks the consent of the requisite majority of CVA Creditors under the SEAG CVA to extend the CVA Long-Stop Date to 19 August 2019.

The Company also seeks the consent of the requisite majority of SFHG Creditors under the SFHG CVA to extend the CVA Long-Stop Date to 19 August 2019.

CVA Creditors and SFHG Creditors are requested to provide their consent prior to 4.30pm (London time) on 9 August 2019 in accordance with the instructions detailed in the consent request circulated to such creditors on 7 August 2019 and available at www.lucid-is.com/steinhoff.

It remains the objective of the Group to complete the Restructuring as soon as possible.

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

Stellenbosch, 7 August 2019