PB Holding N.V. — Capital/Financing Update 2016

Jul 4, 2016

Stern Group extends and increases its financing

Stern Groep NV, the Dutch listed automotive group, announces that Facility A (retail financing) of € 70 million has been extended to 30 June 2017 and that Facility B (financing of the lease portfolio) has been further increased from € 130 million to € 160 million. The total sum available under these banking facilities accordingly amounts to € 230 million (formerly € 200 million). As a result of Stern's improved performance, the interest rate spreads over

3-month Euribor have been significantly reduced. The banks providing the finance (ING Bank, ABN AMRO Bank and Rabobank) are each providing an equal amount of the total funding.

SternLease continues to grow

After strong growth in recent years, the lease portfolio of SternLease increased again in the first six m0nths by nearly 500 contracts to reach 9,530 operating lease contracts (+5.4%). The rate of growth is expected to accelerate somewhat in the second half of the year.

The carrying amount of the lease portfolio was over € 160 million at year-end 2015. At the end of June 2016, this sum has risen to over € 167 million. By the end of 2016, we expect to reach a level of at least € 175 million. Growth is expected to continue in 2017. Due to the greater size of the lease portfolio, other forms of lease financing will become available.

Note to editorial staff, not for publication: For further information, please contact H.H. van der Kwast (Stern Group), T +31(0)20 613 60 28

Profile of Stern Groep N.V.

Stern is a large Dutch mobility group that has been listed on Euronext Amsterdam since 2000. Since then, the intended significant growth has been realised in the major car-intensive regions of the country: North and South Holland, Utrecht and North Brabant. The network has more than 100 branches with approximately 2,200 employees, and collectively realises net annual revenue (excluding BPM) in excess of € 1 billion. Stern will continue its growth strategy in the coming years.

Stern believes in individual mobility, sustainability and diversity. For this reason, it offers a wide variety of car brands and additional mobility services. For those preferring a means of transport other than a car, Stern now offers electric 2, 3 and 4 wheel transport solutions with speeds of up to 45 kilometres an hour.

The Stern Dealer Group has five clusters representing several leading brands such as 1) Mercedes-Benz, 2) Renault and Nissan, 3) Ford, 4) Volvo, Land Rover and Fiat, 5) Volkswagen, Audi, Kia and Opel. The Stern Dealer Group has a total of more than 85 branches. With Stern Financial Services, Stern Group is involved in car leasing (SternLease) and fleet management (SternPartners) and sales of financial mobility products such as SternCredit, SternPolis and SternGarant. Stern Financial Services manages approximately 50,000 contracts.

The division Stern Mobility Services comprises car rental (SternRent), car repair services (SternSchade), interiors for light commercial vehicles (SternTec), the multibrand garage concept (SternPoint) and electric vehicles with speeds up to 45 kilometres per hour (Mango Mobility).