Fagron N.V.

Major Shareholding Notification • May 13, 2016

FORM TR-1 BE PARTI
1) Status of the notification
	Final
2) Issuer
	Name FAGRON
Identification number 0890-535-026
3) Reason for the notification
	Downward crossing of the lowest threshold
	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.	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)
	Please continue entering the information in part il concerning the	Click persons referred to in points 5 and 6
7) Date on which the threshold is crossed
	06/05/2016	(DD/MM/YYYY)
8) Threshold that is crossed (in %)
		$\overline{3}$
		If the holding has fallen below the lowest threshold, you have the option of not entering any numbers under point 10
9) Denominator
	32,111,827
	Please enter the denominator before filling in the data

10) Notified details

A) Voting rights	Previous notification		After the transaction
	# of voting rights		# of voting rights		% of voting rights
Holders of voting rights		Not linked to the Linked to Linked to securities securities securities		Not linked to the securities
The Goldman Sachs Group, Inc.
Goldman Sachs International	536,286
Goldman Sachs Asset Management, L.F	618,975
Goldman Sachs Asset Management Int	13,391
subtotal	1,168,652
TOTAL

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00000

Start with "groups" of holders. Calculate subtotals and then finish with the
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The totals, subtotals and % will be updated once you have click

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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)

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The totals will be updated once you have clicked on

TOTAL (Voting rights & Equivalent financial instruments)		# of voting rights	% of voting rights
	CALCULATE

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

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

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		12/05/2016 (DD/MM/YYYY)
Name & capacity
	Joanna Foley, Executive Director, Regulatory Operations		Signature		$F\lambda_{\mathbf{P}}$

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.

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