Steinhoff International Holdings N.V.

Guarantees for the restated SEAG and Finance Holding debt

The following terms have been agreed with regard to amending the guarantees provided by
the Company that currently support certain of the external debt of SEAG and Finance Holding
and the guarantee provided by SIHPL and will apply with effect from the Restructuring
Effective Date:

  -   Scope of Company guarantees
         o Guarantees in respect of guaranteed SEAG, SUSHI and Finance Holding debt
            crystallise on the Restructuring Effective Date at restated debt amounts
            (excluding the support letter consent fees).
         o For SEAG and SUSHI guaranteed creditors, the Company guarantees remain
            fully outstanding until the maximum amount payable by the Company under
            the guarantees has been paid by it or an amount has been received by the
            SEAG guaranteed creditors equal to restated debt plus PIK interest capped at
            5% (with an increase to 10% if Governance Shareholder Resolution is not
            passed).
         o For Finance Holding debts, there is no equivalent PIK interest cap, unless the
            Governance Shareholder Resolution is not passed (in which event the cap is
            10%).
         o Creditor recoveries under the Company guarantees are capped at the