Greiffenberger : Press Release, August 25, 2016

Press Release by the Greiffenberger AG (WKN 589730 / ISIN DE0005897300)

Greiffenberger AG - all Annual General Meeting resolutions passed with large majority; satisfactory first half-year 2016 with turnover and earnings slightly higher than planned

Marktredwitz and Augsburg, August 25, 2016 - Today's ordinary Annual General Meeting of Greiffenberger AG in Marktredwitz approved by a large majority all the agenda items submitted for resolution. The Management Board and Supervisory Board were formally discharged and KPMG Bayerische Treuhandgesellschaft Aktiengesellschaft Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Munich, selected as auditors for the financial statements and consolidated financial statements for fiscal year 2016. At the regular elections to the Supervisory Board all the candidates representing capital were confirmed in office by a large majority. Stefan Greiffenberger was elected as a new member of the Supervisory Board to succeed his father Heinz Greiffenberger, who has served as Supervisory Board Chairman until present.

At its constituent meeting on August 25, 2016, the Supervisory Board of Greiffenberger AG elected Marco Freiherr von Maltzan as its Chairman and Dr. Dieter Schenk as Deputy Chairman. Lastly, Marco v. Maltzan was again appointed Managing Director of the company for a fixed term running through October 25, 2016, as per Article 105 (2) sentence 1, alternative 1, of the German Stock Corporation Act. During this period his Supervisory Board position will be put on hold and Dr. Dieter Schenk will temporarily exercise the rights and duties of the Supervisory Board chairman.

In the first half of 2016 the operating performance of the Greiffenberger Group met its own expectations. The progress that has so far been made in implementing the plan to secure the sustainability and improve the earnings and liquidity situation of the Greiffenberger Group allows confidence with regard to the expected securing of medium-term financing. Turnover in the first six months of 2016 (including turnover from the Pipeline Renovation Technology business unit / subgroup BKP, reclassified as of June 30, 2016, in accordance with IFRS 5) was up 2.1% to 76.0 million euros compared to the previous year's period with revenues of 74.4 million euros. This means that turnover has been slightly better than expected during the year so far.

With all business units including Pipeline Renovation Technology taken into account an EBITDA of 3.4 million euros and an EBIT of -0.2 euros million would have been achieved. The EBITDA of the Greiffenberger Group stated for the first half of 2016 following the reclassification of the subgroup BKP as per IFRS 5 on June 30, 2016, came to 3.2 million euros, and the EBIT to -0.1 million euros. On a consolidated basis the figures for the previous year's period show an EBITDA of 4.3 million euros and an EBIT of 0.7 million euros. It should be noted that the earnings figures presented for 2016 include an amount of 1.1 million euros for expenses incurred so far for restructuring and the financing processes.

The 2016 mid-year financial report is available at www.greiffenberger.de/zwischenberichte/.