Digitree Group S.A.

M&A Activity • Jul 30, 2019

Subject: Statement of the Management Board of Pfleiderer Group S.A.regarding the tender offer to subscribe for the sale of the shares inthe Company published on 11 July 2019 by Volantis Bidco B.V.

Current report No. 29/2019

The management board of Pfleiderer Group S.A. (the "Management Board")(the "Company"), acting pursuant to Article 80 of the Act of 29 July2005 on Public Offering, the Conditions Governing the Introduction ofFinancial Instruments to Organised Trading, and Public Companies (the"Act"), hereby presents the position of the Company's Management Boardregarding the tender offer to subscribe for the sale of the shares inthe Company announced on 11 July 2019 pursuant to Article 73 section 1of the Act by Volantis Bidco B.V. (the "Statement") (the "Tender Offer")together with the opinion of Trigon Investment Banking Spółka zograniczoną odpowiedzialnością i Wspólnicy Spółka Komandytowa regardingthe price offered for the shares in the Company in the Tender Offer (the"Fairness Opinion").

The Statement and the Fairness Opinion are attached to this currentreport.

This report was issued pursuant to Article 80 of the Act.

July 29th, 2019