Fagron N.V.

Major Shareholding Notification • May 19, 2016

FORM TR-1 BE PART I
1) Status of the notification
	Final
2) Issuer
Identification number 0890-535-026	Name FAGRON
3) Reason for the notification
	Acquisition or disposal of voting securities or voting rights
4) Notification by
	A parent undertaking or a controlling person
5) Persons subject to the notification requirement
	Name (& legal form for legal persons)	Address (for legal persons)
	The Goldman Sachs Group, Inc.	$\ddot{\bullet}$ Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USA
	6) Persons that dispose of, voting rights (Only to be filled in if art. 7 of the Law applies)
	Name (& legal form for legal persons)	Address (for legal persons)
		٠
Please continue entering the information in part II concerning the Click persons referred to in points 5 and 6
7) Date on which the threshold is crossed
	12/05/2016	(DD/MM/YYYY)
8) Threshold that is crossed (in %)
	$\frac{5}{3}$
		If the holding has fallen below the lowest threshold, you have the option of not entering any numbers under point 10
9) Denominator

Please enter the denominator before filling in the data

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10) Notified details

A) Voting rights	Previous notification		After the transaction
	# of voting rights		# of voting rights		% of voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
The Goldman Sachs Group, Inc.		U		0.00%
Goldman Sachs International	1,091,470	986,157		3.07%
Goldman Sachs Asset Management, L.R.	559,269	489.665		1.52%
Goldman Sachs Asset Management Inti	13,391	13,391		0.04%
subtotal	1,664,130	1,489,213		4.64%
TOTAL		1.489.213	o	4.64%	$0.00\%$

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Let with "groups" of holders. Calculate subtotals and then finish with the
Dessons who are "alone".
The totals, subtotals and % will be updated once you have clicked on
CALCULATE>

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B) Equivalent financial Instruments	After the transaction
Holders of equivalent financial instruments	Type of financial instrument	Expiration date	Exercise period or date	# of voting rights that may be acquired if the instrument is exercised	% of voting rights
TOTAL		(in relation to all expiration dates)		0	0.00%

The totals will be updated once you have clicked on

TOTAL (Voting rights & Equivalent financial (instruments)		# of voting rights	% of voting rights
	CALCULATE	1,489,213	4.64%

11) Chain of controlled undertakings through which the holding is effectively held, if applicable

Please describe, or join a diagram in attachment

Please Refer to Annexure - Structure Chart

12) In case of proxy voting for only one GM

Holder	will cease to hold /	voting rights as of
	will hold again

13) Additional information

A) Convertible bonds and rights to subscribe to voting securities not yet issued
Holder	Type of financial instrument	Expiration date (DD/MM/YYYY)	Exercise/Conversion period or date	Number	# of voting rights that may be acquired if the instrument is exercised/converted
B) Shares without voting rights
Holder	Number
C) Remarks
Done at	London
On	18/05/2016	(DD/MM/YYYY)
Name & capacity
	Peter Chisholm, Executive Director, Regulatory Operations		Signature

Peter Chisholm, Executive Director, Regulatory Operations

$\frac{1}{2}$ 1

Note : The above structure chart reflecting the chain of controlled undertakings is based on voting rights only. For the purpose of aggregation and representation , onl^,
entities that have more than 50% of the voting sha comprises only GS entities which are part of the notification.

Chain of Controlled Undertakings:

• GOLDMAN SACHS ASSET MANAGEMENT, L.P. IS CONTROLLED BY GSAM HOLDINGS LLC WHICH IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.
• . GOLDMAN SACHS ASSET MANAGEMENT INTERNATIONAL IS CONTROLLED BY GOLDMAN SACHS GROUP UK LIMITED WHICH IS CONTROLLED BY GOLDMAN SACHS (UK) L.L.C. WHICH IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.
• . GOLDMAN SACHS INTERNATIONAL IS CONTROLLED BY GOLDMAN SACHS GROUP UK LIMITED WHICH IS CONTROLLED BY GOLDMAN SACHS (UK) L.L.C. WHICH IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.