STEINHOFF INTERNATIONAL HOLDINGS N.V. - Steinhoff Raises 1 Billion By Listing And Placing 23.19% Of Its Interests In Steinhoff African Retail Limited

Steinhoff Raises €1 Billion By Listing And Placing 23.19% Of Its Interests In Steinhoff African Retail Limited

Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019
("Steinhoff" or the “Company”)



PRESS RELEASE: STEINHOFF RAISES €1 BILLION BY LISTING AND PLACING 23.19% OF ITS INTERESTS IN
STEINHOFF AFRICAN RETAIL LIMITED (“STAR”) ON THE JSE LIMITED (“JSE”)

Stellenbosch, 2 October 2017, Steinhoff shareholders are referred to the various publications by
the Company related to the separate listing of STAR on the JSE. Steinhoff is pleased to announce
that STAR listed on the JSE on 20 September 2017 (“the Listing”)and issued 750 million new STAR
shares under a private placement in a book that was 4.8 times oversubscribed, raising an
aggregate amount of R15.4 billion (“the Private Placement”). The proceeds from the Private
Placement (net of costs) were distributed by STAR to subsidiaries of Steinhoff (“the Distribution”).

Post the Listing, STAR shares traded consistently above the Listing price of R20.50 per share.
Subsequently, STAR’s stabilisation manager (Citi Bank) exercised a call option to purchase a further
50,000,000 existing STAR ordinary shares (“the Overallotment Shares”) from Steinhoff for delivery to
external STAR shareholders under an overallotment option.

Accordingly, the listing of STAR resulted in the placement of an aggregate of 800 million STAR
shares and total capital raised of approximately R16.4 billion. Steinhoff subsidiaries received an
aggregate amount of approximately R16 billion (€1 billion) from the Distribution and disposal of
the Overallotment Shares.

STAR continues to trade above the Listing price, valuing STAR at R75.6 billion as at close of business
on 29 September 2017. Post all of the above transactions, Steinhoff continues to indirectly hold
76.81% of STAR’s issued share capital.

Moody’s Investors Service released a note on Steinhoff on Friday 29 September 2017 titled “Listing
of 23.19% of African Retail assets credit positive” regarding the Listing of STAR.

Stellenbosch

2 October 2017

JSE Sponsor
PSG Capital Proprietary Limited

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