Ad-hoc announcement: Review of legal form change at HORNBACH HOLDING AG into a partnership limited by shares (KGaA) - Objective to eliminate complex ordinary and preference share structure

Neustadt an der Weinstrasse, November 10, 2014.

Today, on the basis of a resolution adopted by its management on this same day, HORNBACH Familien-Treuhandgesellschaft mbH wrote to the management board of Hornbach Holding Aktiengesellschaft and invited it to hold concrete talks on the possibilities of a transformation of the legal form of Hornbach Holding Aktiengesellschaft from a stock corporation into a partnership limited by shares (Kommanditgesellschaft auf Aktien - KGaA). HORNBACH Familien-Treuhandgesellschaft mbH claims that a change of legal form should preserve the continuity of a listed family stock corporation, while at the same time improving Hornbach Holding Aktiengesellschaft's capital market capability by admitting all limited partners' shares to trading and eliminating the complex structure of ordinary and preference shares. Hornbach Holding Aktiengesellschaft's management board likewise sees this as an opportunity and intends to timely consult with the company's supervisory board on the entry into such talks and, as the case may be, adopt a resolution to do so.

Whether or not Hornbach Holding Aktiengesellschaft's corporate structure will be reorganised will depend not only on these consultations and possible further talks and subsequent examinations by the management board and supervisory board, but also on the adoption of resolutions by the general meeting of the company, as well as by the holders of ordinary and preference shares, which, as the case may be, are necessary for the implementation, and on resolutions adopted by the shareholders' meeting of Hornbach Familien-Treuhandgesellschaft mbH.


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