Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE ON SARB APPROVAL

STEINHOFF GLOBAL SETTLEMENT - UPDATE ON SARB APPROVAL

Steinhoff International Holdings N.V. ("SIHNV" or the "Company" and together with its subsidiaries, "Steinhoff") together with Steinhoff International Holdings Proprietary Limited ("SIHPL") provide the following update with respect to the Steinhoff global litigation settlement proposal.

On 11 August 2021 the Company announced an increased offer and stated that:

"Following this announcement, SIHNV and SIHPL will proceed to seek further approval from the South Africa Reserve Bank/FINSURV for necessary approvals."

Steinhoff is pleased to announce that it has received approval from SARB/FINSURV for the cross-border transfers contemplated by the revised Steinhoff global settlement proposal. The approval is valid until 31 May 2022.

Louis du Preez, Chief Executive Officer, said:

"The FINSURV approval satisfies one of the remaining conditions to implementation of the global litigation settlement. The final material requirement is the approval of the High Court in South Africa to the SIHPL section 155 proposal. Given the overwhelming claimant support in favour of the settlement proposal, we are committed to implementing it as soon as possible."

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

Stellenbosch, South Africa

18 October 2021