Digitree Group S.A.

Report Publication Announcement • Jul 29, 2019

Subject: Preliminary consolidated financial information for the firsthalf of 2019 year

Current Report No. 28/2019

The Management Board of Pfleiderer Group S.A. (the "Company") announcesselected preliminary consolidated financial information for the firsthalf of 2019:

Reported EBITDA for the period from January 1st, 2019 until June 30th,2019 amounted to EUR 49.9m and EUR 45.0m excluding IFRS16, whichcompares to EUR 69.4 m (ex IFRS 16) in the same period of 2018.

Adjusted EBITDA for the period from January 1st, 2019 until June 30th,2019 amounted to EUR 60.8m and EUR 55.9m excluding IFRS 16, whichcompares to EUR 71.1m (ex IFRS 16) in the same period of 2018.

Net sales for the period from January 1st, 2019 until June 30th, 2019amounted to EUR 522.3m, which compares to EUR 533.2m in the same periodof 2018.

Net loss for the period from January 1st, 2019 until June 30th, 2019amounted to EUR 11.1m, which compares to net profit of EUR 5.8m in thesame period of 2018.

Net debt to reported LTM EBITDA as of June 30th, 2019 amounted to 3.70.

The Group's financial results in the period from January 1st, 2019 untilJune 30th, 2019 were influenced mainly by difficult market conditions onboth, demand and supply side, as well as significant one-off items.

The overall macroeconomic situation in the first half of 2019 was belowprevious expectations resulting in the forecasts for DACH being loweredconsiderably.

Capacity increases in Poland and Belarus are resulting in higher levelsof competition. These capacity increases plus the expected developmentof further particle board plants are producing price pressure especiallyon the basic products' portfolio.

In addition, in the first half of 2019, margins were significantlyreduced due to the year on year price increases in the main rawmaterials (wood, chemicals, paper and electricity).

Due to the continued difficult market environment, the Pfleiderer Grouphas decided to continue its work with consultants to reduce its coststructure and improve efficiency.

Management Board of the Company informs that the above financialinformation is preliminary and may be different from the final financialinformation, which will be contained in the extensive consolidatedreport for the first half of the year 2019 to be published by theCompany.

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 April16th, 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 12th, 2014).

July 29th, 2019