Bond

Investor Relations

Bond

In accordance with the insolvency plan of DF Deutsche Forfait AG ("DF AG"), the bond will be repaid exclusively by means of distributions of proceeds generated by DF AG from the realisation of assets attributable to creditors ("creditor assets"). The proceeds are distributed by a trustee.
According to the insolvency plan, interest payments are no longer provided. Bondholders are paid off from the “creditor assets” (see answer 1).
The bond no longer has an official "maturity". With the conclusion of the debt collection and the complete transfer of the collected funds by the trustee to the creditors, the maturity of the bond ends as well. This process may also extend beyond the bond’s original maturity.
The trustee's first settlement took place in the second quarter of 2017. The amount paid out at that time resulted in a ratio according to insolvency law of 2.65% to the nominal amount of the bond and was distributed by the trustee to the creditors of DF AG in mid-July 2017.

On 6 November 2017, the pro rata interest amount was paid out in addition to the first distribution. This payment corresponded to the same ratio according to insolvency law (2.65%) of the registered interest portion and thus results only in a small absolute amount.

The second settlement took place in the third quarter of 2017 and was distributed by the trustee on 22 November 2017. The amount of the second distribution corresponded to a ratio according to insolvency law of 3.9739% on the nominal amount of the bond. At the same time, the pro rata interest amount was distributed on the reported interest claims.

The third settlement was carried out in the second quarter of 2018. The distribution was made by the trustee on 2 May 2018 and corresponded to a ratio according to insolvency law of 1.7928% to the nominal amount of the bond. At the same time, the pro rata interest amount was distributed on the reported interest claims.

The fourth settlement took place in the fourth quarter of 2018 and was distributed by the trustee on 6 December 2018. The amount of the fourth distribution corresponded to a ratio according to insolvency law of 2.4589% on the nominal amount of the bond. At the same time, the pro rata interest amount was distributed on the reported interest claims.

The fifth settlement took place in the second quarter of 2019 and was distributed by the trustee on 26 June 2019. The amount of the fifth distribution corresponded to a ratio according to insolvency law of 6.4840% on the nominal amount of the bond. At the same time, the pro rata interest amount was distributed on the reported interest claims.

As long as further proceeds are generated, further settlements by the trustee are regulated in the Trust Agreement on a quarterly basis. The liquidation proceeds are subsequently paid out to the creditors.
To date, a total ratio according to insolvency law of 17.3596% on the nominal amount of the bond as well as on the registered interest claims of DF AG's creditors has been paid by the trustee to the creditors.
At the time of the insolvency plan's approval in April 2016, the provisional insolvency rate was 38% for all creditors of creditor group 1, including the bondholders. The final quota is not fixed until the liquidation of all creditor assets has been completed.
The trustee reports once a year, for the first time on 1 May 2017.

Bondholders can request a copy of the report by submitting a current statement of account (not older than 10 working days) to One Square Advisory Services GmbH, the joint representative of the bondholders. Corresponding requests and verifications can be sent via email to “df@onesquareadvisors.com”.
DF AG cannot make any statement regarding the tax treatment of the payments. This depends on the individual situation of each creditor. Please contact your custodian bank or your tax advisor in this regard.

Frederic Hilke
Investor Relations, IR.on AG

P: 0049 221 9140970

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