Fagron N.V. — Major Shareholding Notification 2020

Oct 19, 2020

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Transparency notification Form TR-1 BE PART I

1) Status of the notification
Ì	Final	I
2) Issuer
Name Identification number	FAGRON 0890-535-026
		•
3) Reason for the notification	1
	Acquisition or disposal of voting securities or voting rig	hts	+
4) Notification by
	A parent undertaking or a controlling person		+
5) Persons subject to the not	tification requirement_
	_		1
	Name	Address (for legal entities)
	Kabouter Management LLC	401 N. Michigan Avenue, Suite 2510, Chicago, IL 60611, United States of America	-
	Peter Zaldivar		-
	Marcel Houtzager		+
6) Persons that dispose of vo	oting rights (only to be filled in if art. 7 of the Law	w applies)
	Name	Address (for legal entities)
			+
	Please continue entering the information in part II opersons referred to in Sections 5 and 6	concerning the Part II
7) Date on which the thresho	old is crossed
ĺ	13/10/2020	(DD/MM/YYYY)
		1
8) Threshold that is crossed	(in %)
	3
•	If the holding has fallen below the lowest threshold	, you have the option of not entering any numbers in Section 10
9) Denominator
	72,178,904
	Please enter the denominator before filling in the da	I atta
U	Silver and demonstration policies mining in the tre
10) Notified details
A) Voting rights	Previous notification	After the transaction

A) Voting rights	Previous notification	After the transaction # of voting rights % of voting rights
	# of voting rights	# of voti	ing rights	% of vot	ing rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
Peter Zaldivar		0		0.00%

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	TOTAL	2,286,973	0	3.17%	0.00%
Subtotal		2,286,973		3.17%		S	+
Kabouter Management LLC		2,286,973		3.17%		1	‐
Marcel Houtzager		0		0.00%		1	‐

Start with "groups" of holders. Add subtotals with , and then finish with the persons who are "alone". For groups, start with the ultimate controlling natural person or legal entity. The totals, subtotals and % will be updated once you have clicked on .

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Cabouter Management LLC is an investment fund manager which has voting discretion in relation to the voting securities in Fagron NV owned by its underlying funds and seperate accounts. For such situation, article 9,§ 2 of the Royal Decree of 14 February 2008 provides that the management company (i.e. Kabouter Management LLC) needs to file the transparancy declaration. Done at Chicago, United States of America On 15/10/2020 (DD/MM/YYYY)
To totals will be updated once you have clicked on cCALCULATE> TOTAL (A & B) CALCULATE 2.286.973 3.17% CALCULATE 2.286.973 3.17% CALCULATE 2.286.973 3.17% CALCULATE 2.286.973 3.17% CALCULATE 2.286.973 3.17% CALCULATE CALCULATE CALCULATE CALCULATE 2.286.973 3.17% CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCUL		Type of financial instrument	Expiration date		that may be acquired if the instrument is	% of voting rights	Settlement
To totals will be updated once you have clicked on cCALCULATE> TOTAL (A & B) CALCULATE 2.286.973 3.17% CALCULATE 2.286.973 3.17% CALCULATE 2.286.973 3.17% CALCULATE 2.286.973 3.17% CALCULATE 2.286.973 3.17% CALCULATE CALCULATE CALCULATE CALCULATE 2.286.973 3.17% CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCULATE CALCUL								+
TOTAL (A & B) CALCULATE 2.286.973 3.175, 11) Full chain of controlled undertakings through which the holding is effectively held, if applicable Rabouter Management LLC is the company managing funds and accounts that owns voting securities in Fagon NV. Kabouter Management LLC directly manages such voting securities (thus, without any subsidiarities or affiliates). Kabouter Management LLC is controlled by Mr. Peter Zadivur and Mr. Marcel Houtzager. 12) In case of proxy voting for only one GM Holder will case to proxy voting for only one GM 13) Additional information Secoular Management LLC is an investment found manager which has voting discretion in relation to the voting securities in Fagon NV owned by its underlying funds and separate accounts. For such situation, stricks 9,§ 2 of the Royal Decree of 14 February 2008 provides that the management company (i.e. Kabouter Management LLC) needs to file the transparancy declaration. Done at Chicago, United States of America On 15/19/2020 (DDMAYYYY)	TOTA	AL			0	0.00%		_
CALCULATE 2.286.973 3.17%. 11) Full chain of controlled undertakings through which the holding is effectively held, if applicable Robouter Management LLC is the company managing funds and accounts that owns voting securities in Fagran NV. Colorder Management LLC is controlled by Mr. Peter Zaldivar and Mr. Marcel Houtzager.	The to	totals will be updated once you have clicked on
CALCULATE 2.286.973 3.17%. 11) Full chain of controlled undertakings through which the holding is effectively held, if applicable Robouter Management LLC is the company managing funds and accounts that owns voting securities in Fagran NV. Colorder Management LLC is controlled by Mr. Peter Zaldivar and Mr. Marcel Houtzager.
Rabouter Management LLC is the company managing funds and accounts that owns voting securities in Fagron NV. Kabouter Management LLC directly manages such voting securities (thus, without any subsidiaries or affiliates). Kabouter Management LLC is controlled by Mr. Peter Zaidivar and Mr. Marcell Houtzager. 12) In case of proxy voting for only one GM Molder will load again voting for only one GM Molder will hold again voting securities in Fagron NV owned by its underlying funds and separate accounts. In substance, action 9,5 of the Royal Decree of 14 February 2008 provides that the management company (i.e., Kabouter Management LLC) needs to file the transparancy deciration. Done art Chicago, United States of America On 15/192020 (CDMMYYYY)	TOTA	AL (A & B)			# of voting rights	% of voting rights
Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Comm				CALCULATE	2,286,973	3.17%
Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Commonweight Comm
Will cease to hold / will hold again 0 voting rights as of 13) Additional information Kabouter Management LLC is an investment fund manager which has voting discretion in relation to the voting securities in Fagron NV owned by its underlying funds and seperate accounts. For such situation, article 9,§ 2 of the Royal Decree of 14 February 2008 provides that the management company (i.e. Kabouter Management LLC) needs to file the transparancy declaration. Done at Chicago, United States of America On 15/10/2020 (DD/MM/YYYY)	Kabot Kabot	outer Management LLC is the company managing for	unds and accounts th	nat owns voting securit	-
Cabouter Management LLC is an investment fund manager which has voting discretion in relation to the voting securities in Fagron NV owned by its underlying funds and seperate accounts. For such situation, article 9,§ 2 of the Royal Decree of 14 February 2008 provides that the management company (i.e. Kabouter Management LLC) needs to file the transparancy declaration. Done at Chicago, United States of America On 15/10/2020 (DD/MM/YYYY)		nly one GM		0		voting rights as of	(DD/MM/YYYY)
Done at Chicago, United States of America On 15/10/2020 (DD/MM/YYYY)	13) Additional information
Done at Chicago, United States of America On 15/10/2020 (DD/MM/YYYY)	Kahouter Management I I C is an investment fu	fund manager which has voting discretion in relation	n to the voting securi	ties in Fagron NV owne	ed by its underlying f	unds and senerate acc	counts
Done at Chicago, United States of America On 15/10/2020 (DD/MM/YYYY)
On 15/10/2020 (DD/MM/YYYY)
On 15/10/2020 (DD/MM/YYYY)
	Done at Chica	ago, United States of America
Name & capacity Christopher K. Yarbrough, General Counsel/CCO Signature Chris Clarbrough	On	15/10/2020	(DD/MM/YYYY)
Name & capacity Christopher K. Yarbrough, General Counsel/CCO Signature Chris Clarbrough
	Name & capacity Christ	stopher K. Yarbrough, General Counsel/CCO		Signature	Chr	is Garbrou	gh