GEN – General – Steinhoff International Holdings N.V.
Enforcement of censure and penalties imposed by the JSE on Mr Markus Jooste, the former Chief Executive Officer
of Steinhoff International Holdings N.V. ("Steinhoff" or "Company")


The JSE hereby informs stakeholders of the following findings in respect of Mr Jooste:


1.   Stakeholders are referred to the SENS announcement dated 10 January 2023 wherein the JSE imposed a public
     censure and financial penalties against Mr Jooste.


2.   In brief, and pursuant to its investigation, the JSE decided to impose the following penalties on Mr Jooste:
     2.1   a public censure and the maximum permissible fine of R7 500 000 for Steinhoff's consolidated financial
           statements for the 2015 and prior financial periods and for the fifteen months ended 30 September
           2016, which did not comply with IFRS and the Listings Requirements, and was incorrect, false and
           misleading in material aspects;
     2.2   a public censure and the maximum permissible fine of R7 500 000 for Mr Jooste's breaches of the Listings
           Requirements in respect of the Steinhoff at Work Transaction; and
     2.3   immediate disqualification from holding the office of a director or officer of a listed company for a period
           of 20 (twenty) years, for failing to fulfil his duties and responsibilities as the Chief Executive Officer with
           the necessary due care and skill.


3.   Mr Jooste disagreed with the JSE's decisions, and on 14 December 2022, Mr Jooste applied, in terms of section
     231 of the Financial Sector Regulation Act ("FSRA"), to the Financial Services Tribunal ("FST") for an order
     suspending the decisions of the JSE. He also applied for the reconsideration of the JSE's decisions in terms of
     section 230(1) of the FSRA (the "Reconsideration Application"). On 10 January 2023, the suspension
     application was dismissed, other than in regard to the payment of the fine that the JSE imposed on Mr Jooste,
     pending the outcome of the Reconsideration Application.


4.   The Reconsideration Application was heard on 18 September 2023.


5.   On 10 October 2023, the FST dismissed the Reconsideration Application, affirming the validity and
     enforceability of the censure and financial penalties imposed on Mr Jooste by the JSE.


6.   In the circumstances, the JSE's decisions to impose a public censure and financial penalties against Mr Jooste
     for contraventions of the JSE Listings Requirements remain binding and fully enforceable. Mr Jooste is
    immediately (i) liable for the payment of the financial penalties imposed and (ii) disqualified from holding the
    office of a director or officer of a listed company for a period of 20 years.


11 October 2023




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