Steinhoff International Holdings N.V. : VEB / European Investors and Steinhoff extend standstill

VEB / European Investors and Steinhoff extend standstill

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

Investment group VEB/European Investors and global retailer Steinhoff have agreed to extend the suspension of the collective action between them in The Netherlands for a further six-weeks until 15 May 2019. After the suspension, VEB/European Investors and Steinhoff are both free to continue the legal proceedings or to reach a settlement for affected shareholders through negotiations.

VEB/European Investors, as a collective representative, has sued Steinhoff in the Dutch court for certain financial statements, prospectuses and press releases, which according to VEB are incorrect and misleading.

The suspension will grant Steinhoff time to continue the ongoing restructuring of its business, make further progress with the internal investigations and finalise its 2017 and 2018 financial statements.

VEB/European Investors agreed to the extension because it further supports the stabilisation of the company, which is in the interest of both the current and former shareholders of Steinhoff.

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

Stellenbosch, 2 April 2019