Fagron N.V.

Major Shareholding Notification • Mar 23, 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
	Acquisition or disposal of voting securities or voting rights
4) Notification by
	A parent underlaking or a controlling person
5) Persons subject to the notification requirement
	Name (& legal form for legal persons)	Address (for legal persons)
	Carmignac Gestlon
		24, place Vendôme 75001 Parls
	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 II concerning the	Glick persons referred to in points 5 and 6
7) Date on which the threshold is crossed
	17/03/2016	(DD/MM/YYYY)
8) Threshold that is crossed (in %)
	5 1
		If the holding has fallen below the lowest threshold, you have the option of not entering any numbers under point 10
9) Denominator

Please enter the denominator before filling in the data

10) Notified details

A) Voting rights	Previous notification	After the transaction
	# of voling rights		# of voting rights	% of voting rights
Holders of voling rights	Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
Carmignac Gestion	2 176 243	1265613		3.94%
Carmignac Gestion Luxembourg	287 024	226 393		0.71%
subtotal	2 463 257	492 006		4,65%
	TOTAL	1492006		4,65%	0,00%

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

B) Equivalent financial instruments	After the transaction
Holders of equivalent financial instruments	Type of financial instrument	Expiration date	Exercise period or date	# of voling rights that may be acquired if the instrument is exercised	% of voting rights
	TOTAL		(in relation to all expiration dates)	0	0.00%

The totals will be updated once you have clicked on

TOTAL (Voting rights & Equivalent financial instruments)		# of voting rights	% of voling rights
	CALCULATE	1492006	4.65%

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-
Entrepreneurs, Carmignac Euro-Patrimoine, Grande Europe 0-100M. Carmignac Gestion Luxemb

12) In case of proxy voting for only one GM

Holder

will cease to hold /
will hold again

voling rights as of

$\circ$

$\frac{1}{2}$

$\blacktriangleright$

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
	For all shareholdings held by 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		18/03/2016 (DD/MM/YYYY)
Name & capacity			Signature

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FORM TR-1 BE PART II

Persons subject to the notification requirement

Name (& legal form for legal persons	Address (registered office for legal persons)	Phone number	E-mail	Contact person for legal persons
Carmignac Gestion	24. place Vendôme 75001 Paris		33170923367 legal funds@carmignac.co Cyril Billioud

Mandatary

Name (& legal form for legal persons )	Address (registered office for legal persons)	Phone number	E-mail	Contact person for legal persons

Invoicing data

Name (& legal form for legal persons)	Address (registered office for legal persons)	Phone number	E-mail	Contact person for legal persons
Carmignac Gestion	24, place Vendôme 75001 Paris		33170923367 legal_funds@carmignac.co Cyril Billioud

The personal data provided via this form will be processed by the FSMA (Congresstraat/rue du Congrès 12-14, 1000 Brussels) in accordance with the Law of 8 December
1992 on the protection of privacy as regards the processin 2007 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 2 August 2002 on the supervision of the financial sector and on financial services. Insofar as the processed data do not fall under the professional sectecy obligation of the the financial sector and on financial services. 8 December 1992.