Digitree Group S.A.

Capital/Financing Update • Apr 7, 2017

Subject: Refinancing - Pricing and Allocation

Current Report No. 18/2017

Further to current report no. 17//2017, Pfleiderer Group S.A. (togetherwith its subsidiary PCF GmbH, "Pfleiderer") announces that it hassuccessfully priced and allocated a €350.0 million 7-year covenant-liteterm loan B facility carrying an interest margin of 325bps (Euriborfloor: 0.75%) and 99.0 OID. The new €100.0 million 5-year revolvingcredit facility will have an interest margin of 300bps (Euribor floor:0%). The senior credit facilities agreement for the term loan B facilityand the revolving credit facility (together, the "Facilities") isexpected to be signed in due course.

The proceeds from the Facilities will be used to redeem the existing€321,684,000 7.875% senior secured notes issued by PCF GmbH (formerlyPfleiderer GmbH) ("Notes") in full, to refinance the existing seniorsecured revolving credit facility and to fund related transaction fees,redemption premium and expenses as well as for general corporatepurposes and working capital requirements.

Subject to the completion of the Facilities, Pfleiderer plans to redeemthe Notes on or after August 1, 2017 at a redemption price of 101.969%.

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This report was prepared pursuant to Article 17 Section 1 of Regulation(EU) No. 596/2014 of the European Parliament and of the Council of 16April 2014 on market abuse (market abuse regulation) and on repealingDirective 2003/6/EC of the European Parliament and of the Council andCommission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ EU L173/1 dated June 12, 2014).

April 7, 2017