Fagron N.V.

Major Shareholding Notification • Apr 16, 2014

FORM TR-1 BE PART
1) Status of the notification
	Final
2) Issuer
Identification number 0890-535-026	Name ARSEUS
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)
	Carmignac Gestion	24. place Vendôme 75001 Paris
	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
	11/04/2014	(DD/MM/YYYY)
8) Threshold that is crossed (in %)
	3 1
		If the holding has fallen below the lowest threshold, you have the option of not entering any numbers under point 10
9) Denominator
	31 358 358
	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		Linked to securities I	Not linked to the securities	Linked to securities l	Not linked to the securities
Carmignac Gestion		1321956		4.22%
Carmignac Gestion Luxembourg		74 451		0.24%
subtotal		1396 407		4,45%
	TOTAL	1 396 407		4.45%	0.00%

Start with "groups" of holders, Calculate subtotals and then finish with the persons who are "alone".
The totals, subtotals and % will be undated once you have clicked on

After the transaction B) Equivalent financial instruments
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)		0,00%

The totals will be updated once you have clicked on

TOTAL (Voting rights & Equivalent financial linstruments)		# of voting rights	% of voting rights
	CALCULATE	1396 407	4,45%

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

Please describe, or join a diagram in attachment

Carmignac Gestion holds 100% of Carmignac Gestion Luxembourg. Carmignac Gestion manages the following UCITS funds : Carmignac Euro
Entrepreneur; UFF Grande Europe; Carmignac Euro Patrimoine and Carmignac Grande Europe. Car

12) In case of proxy voting for only one GM

Holder

will cease to hold / will hold again

$\circ$

voting rights as of

11/04/2014

÷,

$\bullet$

13) Additional information

ú,

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	INumber
	the contract of the contract of the contract of the control of the control of the control of

C) Remarks
	For all shareholdings held by both companies (Carmignac Gestion and Carmignac Gestion Luxembourg), the voting rights are exercised by Carmignac Gestion.
	Carmignac Gestion can exercise the voting rights at its discretion in the absence of specific instructions from the relevant undertakings of collective investment.
Done at	Paris
On	16/04/2014 (DD/MM/YYYY)
Name & capacity
	Signature
	Conracto VAUREU BERGETE

FORM TR-I BE PART II

Persons subject to the notification requirement

Na me (& r le l fo leo al f qa orm s) ¿er son	Ad dre ss	be Pho num r ne	E-m ail	fo Co r le aal nta ct Der son De rso ns
Câ rmi c G ion est one	Ve ndô 75 001 Pa ris 24, Dl me ace	352 467 060 83	com cvb he (Oc i ero arm qna c	Co do VA ND EN BE RG H nra

Mandatary

Na me (& fo for le qal Ie qal rm nsl oe rso	Á dd res s	Pho be ne num r	E-m a¡l	peß îor Co on leo al nta ct pet son s

lnvoicing data

Na me (& îo for le l le qal rm qa Dcr n-sl -so	Ad dre ss	Pho be ne num r	E-m ail	fo Co per son r le l nta ct øa oe rso ns
om iuri dio uel Ocâ rmi ona c-c	24 ola Ven dôm 500 1 P e 7 ce ar¡s	352 467 060 83	om cvb heC Dca rmi ero ona c c	Co doV AN DE N BE RG H nra

The personal data provided via this form will be processed by the FSMA (Gongresstraalrue du Congrès 12-14, 1OOO Brussels) in accordance with the Law of 8 December 1992 on the protection of privacy as regards the processing of personal data The FSMA processes the datâ in order to supervise compliance with Title ll of the Law of 2 May 2oo7 and its implementing decrees The processed data may, if appropriate, be communicated to third parties on the conditions referred to in Articles 74 and 75 of the Law of ²August 2002 on the supervision of the financial sector and on financial services. lnsofiar as the processed data do not fall under the professional secrecy obligation of the FSMA, the natural persons whose data are be¡ng processed have the righl to inspect and correct such data in accordance with Articles 10 and'12 of the aforementioned Law of 8 December '1992