OPERATIONAL UPDATE

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

 

PEPCO GROUP: Year-end Pre-Close Trading Statement

Shareholders are advised that Steinhoff’s subsidiary, the fast-growing pan-European variety discount retailer, Pepco Group, owner of the PEPCO and Dealz brands in mainland Europe and Poundland in the United Kingdom, has today released a pre-close trading statement for the financial year ending 30 September 2022. The trading statement is available on the Pepco Group website (https://www.pepcogroup.eu/).

 

MATTRESS FIRM: Update

Mattress Firm is the largest omni-channel mattress speciality retailer in the United States, with more than 2 300 retail stores nationwide, giving it the largest national, coast-to-coast retail footprint of any mattress speciality retailer in the United States.

Steinhoff announced on 31 August 2021 that Mattress Firm had commenced evaluating a range of strategic options, including a potential public listing. Further updates on the potential IPO-process were provided on 20 September 2021 and 10 January 2022.  At Steinhoff’s AGM in March 2022 the market was informed that while Mattress Firm was IPO-ready, the Steinhoff Group would continue to monitor the financial markets and would continue to investigate all options.  This message was once again conveyed in the Analyst Day presentation at the end of July 2022.

While the monitoring of market conditions is ongoing, the Steinhoff Group is continuing to explore strategic options for Mattress Firm. The evaluation process remains ongoing and no definitive decision has been taken with respect to any specific course of action.

 

STEP 3: Group Services debt

The Steinhoff Group is continuing to engage with the various lender groups, with the assistance of market experts, to restructuring the Group Services debt with a view to extending the duration. Further information will be provided to the market as and when appropriate.

 

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

Stellenbosch, 12 October 2022