STEINHOFF INTERNATIONAL HOLDINGS N.V. - PIC Settlement Support And Jurisdiction Ruling

PIC Settlement Support And Jurisdiction Ruling

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

PIC SETTLEMENT SUPPORT AND JURISDICTION RULING

Steinhoff International Holdings N.V. (“SIHNV” or the “Company” and together with its other
subsidiaries, “Steinhoff” or the “Steinhoff Group provide the following updates.

PIC settlement support agreement

The Public Investment Corporation (“PIC”) and SIHNV and Steinhoff International Holdings (Pty)
Ltd (“SIHPL”) have entered into a settlement support agreement under which the PIC on behalf
of itself and its clients including the Government Employees Pension Fund, have agreed to
support the Steinhoff global settlement proposal.

Jurisdiction ruling in Tekkie Town/SIHNV Liquidation Application

In respect of the liquidation application ("the application") launched by AJVH Holdings and 4
others ("the applicants") against SIHNV in the Cape Town High Court certain preliminary
matters were set down for initial hearing over the period 1 to 3 September 2021 including –

1     an application by the parties described as SIHNV Financial Creditors to intervene in and
      oppose the provisional liquidation application launched by the applicants;

2     an application by the Dutch Court appointed joint administrators of SIHNV to be –

2.1        recognised as court appointed administrators of SIHNV by virtue of the orders of the
           Amsterdam District Court of 15 and 18 February 2021 and by virtue of such
           recognition to be granted such authority to institute and defend proceedings in the
           Republic of South Africa including the application;

2.2        granted leave to intervene in the application;

3     an application raised in limine that the Court does not have jurisdiction to wind up SIHNV
      by virtue of the fact that it is an external company
     (collectively "the interlocutory and in limine matters").

The Court's Order with respect to the interlocutory and in limine matters was handed down
today. The Court has dismissed the interlocutory and in limine matters with costs.

For the avoidance of doubt, the Court has made no finding on the merits of the application,
and has issued no Order in that regard.

The main proceedings are set down to continue on 9, 14 and 15 September 2021.

The administrators have delivered a request for the Court's reasons.

SIHNV is considering its position following the order handed down this afternoon.

The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on
the JSE Limited.

Stellenbosch, South Africa
6 September 2021
JSE Sponsor: PSG Capital

Date: 06-09-2021 05:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.