在2016年12月12日前後，復星國際有限公司（復星國際）參與了TOM TAILOR Holding AG（湯姆泰勒）的增資，以4.90歐元每股的價格，認購了新發行總股數2,602,713的29.47%，因此保持了復星國際原先持有的股比，即29.47%。新發行的股票於2016年12月14日在法蘭克福證券交易所開始交易。增資完成之前，復星國際向德國聯邦金融監管局（BaFin）申請了要約收購豁免權，並在2016年11月28日獲得了該豁免權。該豁免權允許復星國際，與個別其他申請人，在超額認購湯姆泰勒新發行的股份股比至30%以上的情況下，不需要向BaFin提交要全面約收購報告書。基於BaFin的合規要求，復星國際在此發佈該豁免決議的要旨。

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[注：下麵公佈的決議並沒有在本次交易中使用到，是由於申請人（如下文所定義）在2016年增資（如下文所定義）過程中對目標公司（如下文所定義）的股份認購比例為原先已持有的29.47%。因此，根據德國證券及收購法（WpüG）第29節第2段，目標公司的控制權變更所需的股權比例臨界值30%未達到。]

根據德國證券及收購法（WpüG）第37節第1段和第2段，德國證券及收購法的出售規則第2點（no. 2 WpüG-Angebotverordnung）第9節第1句，以及德國證券及收購法（WpüG）第35節第1段第1句和第2段第1句，公佈德國聯邦金融監管局（BaFin）在2016年11月28日做出的關於湯姆泰勒控股股份有限公司(ISIN DE 000A0STST2)的豁免決議，包括附屬條款及豁免理由（以下簡稱“決議”）如下：

根據德國證券及收購法（WpüG），德國聯邦金融監管局（BaFin）在2016年11月28日官方通知，決議豁免復星國際有限公司，居住地於中國香港中環花園道3號中國工商銀行大廈808室（第一申請人），復星控股有限公司，居住地於中國香港中環花園道3號中國工商銀行大廈808室（第二申請人），Fosun International Holdings Ltd., 居住地於 P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands（第三申請人），以及郭廣昌先生，居住地於中國上海古浪路108弄109號（第四申請人）等四位申請人公佈獲得控制權、向BaFin提交要約檔、以及發佈資訊公告。以上四位申請人將被統稱為“申請人”或“復星集團”。

該決議的要點，包括附屬條文，如下：

1. 根據德國證券及收購法（WpüG）第37節第1段和第2段，以及德國證券及收購法的出售規則第3點（ 3 WpüG-Angebotsverordnung）第9節第1句，如果申請人在基於第一申請人與湯姆泰勒控股股份有限公司在2016年10月27日簽訂的兜底協議（定義於決議A.III部分）的條件下，在湯姆泰勒控股股份有限公司計畫的2016年增資過程中獲得控制權，那麼根據德國證券及收購法（WpüG）第35節、第29節第2段、第30節第1段第1句第1第3句、第35節第1段第1句、第35節第2段第1句、以及第14節第2段第1句，第二、第三、第四申請人與第一申請人將豁免於對湯姆泰勒控股股份有限公司的強制要約收購，無需向BaFin提交要約檔。

2. 本決議要點第1節中提到的豁免決議在以下條件下可以被撤銷（撤銷條件），包括：

• 對於本豁免決議要點第1節中所指的現金增資，湯姆泰勒控股股份有限公司未能於2016年12月31日之前完成工商變更；並且/或
• 湯姆泰勒控股股份有限公司與第一申請人（定義於決議III）的兜底協議在法律意義上不復存在，增資（本豁免決議要點第1節中所指）對湯姆泰勒控股股份有限公司工商變更不產生實質性影響；並且/或
• 根據本豁免決議要點第1節所指的增資以及兜底協議，湯姆泰勒控股股份有限公司未能在完成增資之後，在2017年1月31日之前，獲得至少1000萬歐元（包括第一申請人的資金份額）；並且/或
• 在豁免決議發佈之時目標公司與銀行簽訂的聯合貸款協議和期票協議條款（定義於豁免決議的I.2 and A.IV.3），在本豁免決議要點第1節中所指的增資之前有所改變。
• 本豁免決議要點第3節中（A）到（C）的條件不滿足。

3. 本豁免決議要點第1節所提到的豁免需滿足以下條件：

• 依照本豁免決議要點第1節和第2節（A）中所提內容，申請人必須立即通知並提交相關證據給BaFin，內容包括第一申請人的認購股數和投票權利，以及股數和投票權利如何直接分配給第二、三、四申請人的情況。

並且

• 依照本豁免決議要點第1和第2節（A）中所提內容，在任何情況下，申請人都應當立即向BaFin通知關於增資引起的工商變更情況，並提交適當支持檔，不晚於2017年3月31日。

並且

• 如有任何有可能導致豁免撤銷的事件、情況、或行為，如第2節（A）到（E）所列，申請人必須立即通知BaFin。

該豁免主要基於以下理由：

1. 目標公司湯姆泰勒控股股份有限公司，是依據德國法律成立之股份註冊公司，註冊辦公室在漢堡，並在HRB 103641漢堡地方法院完成工商登記註冊。目前目標公司總股本26,027,133歐元，總股數26,027,133股，每股票面價值1歐元。目標公司的股份在ISIN DE000A0STST2的允許下，在法蘭克福證券交易所和漢堡證券交易所進行交易。申請人目前直接或間接持有目標公司47%的投票權。

2. 2016年10月27日，目標公司與第一申請人簽訂了擔保協議（兜底協議），第一申請人為目標公司計畫於2016年底最多增資10%或2,602,713歐元作兜底擔保，不包括認購權（以下稱為“2016年增資”）。根據兜底協議，第一申請人承諾認購未被外部投資者認購的剩餘股份，以此保證目標公司至少獲得1000萬歐元的資金。第一申請人也有權認購至少約47%目標公司的新股，以防止復星集團原先持有的約29.47%投票權被稀釋。

3. 申請人認為有可能發生第一申請人超額認購的情況，若該情況發生，申請人持股比例將超過要約收購臨界值（德國證券及收購法WpüG第35節、第29節第2段）。

4. 目標公司和湯姆泰勒集團作為一個融資主體，向銀行聯合貸款75億歐元，2020年5月21日到期，該聯合貸款由1億歐元定期貸款，1.875億歐元迴圈信貸，以及1.875億歐元擔保信貸組成（以下簡稱“聯合貸款”），除此之外，另有3500萬歐元的短期貸款。

5. 目標公司處於財務困難階段。因此，在2016年10月與銀行和債權人進行了新的談判，這導致了其聯合貸款和短期貸款剩餘債務的條款需要通過在2016年10月19日達成的“修改協議”以及在2016年10月17、19、20日達成的“短期貸款修訂協議”做相應修改。

6. 銀行根據目標公司的2016年增資以及第一申請人承諾兜底認購的情況下，簽訂了修改協議。第一申請人提供重組出資達1000萬歐元。由於兜底協議，第一申請人出資了大於其他股東的平均出資，其他股東通常增資到至原有股權不被稀釋為止。

7. 由第一申請人兜底擔保提供的資本流動性，理應滿足重組所需，幫助目標公司度過財務危機，使其存續經營。

8. 上述的重組出資，也應歸因於其他申請人（第二，第三和第四申請人），因為他們是第一申請人的不同母公司。從這種程度上來說，其他申請人（第二，第三及第四申請人）面臨著同樣的由於第一申請人的重組出資而帶來的機會和風險。

9. BaFin是通過慎重考慮作出此豁免決議的。在權衡了申請人和目標公司現有股東的利益之後，根據德國證券及收購法（WpüG）第37節第1段，在德國證券及收購法的出售規則（WpüG-Angebotsverordnung）第9節的前提滿足的情況下，理論上優先權將給予（潛在的）競標者。重組旨在使目標公司存續經營，最終是為了目標公司所有股東的共同利益。

10. 鑒於申請人為目標公司的存續經營作出了很大的重組貢獻，不能由於觸發強制要約收購而讓他們承擔其他股東的股份，加重他們的財務負擔。申請人的重組貢獻旨在幫助目標公司獲益，由此間接地讓其他股東獲益。因此，根據德國證券及收購法（WpüG）第37節第1段和第2段，以及德國證券及收購法的出售規則第3點（ 3 WpüG-Angebotsverordnung）第9節第1句，申請人獲得有條件要約豁免。

11. 根據德國證券及收購法的出售規則（WpüG-Angebotsverordnung）第9節對現有股東利益的保障，尚未發現有損害目標公司現有股東利益的情況。

2016年12月16日

復星國際有限公司

復星控股有限公司

Fosun International Holdings Ltd.

郭廣昌

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[Note: the Decision published below is no longer applicable as the Applicants (as defined below) have participated in the Capital Increase 2016 (as defined below) of the Target Company (as defined below) in accordance with its existing shareholding of 29.47%, which was carried out in the meantime. The control threshold of 30% of the voting rights of the Target Company in accordance with section 29 para. 2 WpÜG was therefore not reached.]

Publication of the tenor of the Decision of the Federal Financial Supervisory Authority dated 28 November 2016 (“Decision”), including the ancillary provisions and the essential reasons, on the exemptions according to section 37 para. 1 and para. 2 WpÜG in conjunction with section 9 sentence 1 no. 2 WpÜG-Angebotverordnung from the obligations under section 35 para. 1 sentence 1 and para. 2 sentence 1 WpÜG with respect to TOM TAILOR Holding AG, Hamburg (ISIN DE 000A0STST2), is shown below.

The tenor of the Decision, including the ancillary provisions, is as follows:

1. If the Applicants obtain control of TOM TAILOR Holding AG, Hamburg in accordance with section 37 para. 1 and para. 2 WpÜG in conjunction with section 9 sentence 1 no. 3 WpÜG-Angebotsverordnung, following the planned cash-capital-increase by TOM TAILOR Holding AG, Hamburg, to be implemented in 2016, and on the basis of the obligations arising from the backstop agreement between TOM TAILOR Holding AG, Hamburg and the 1^stApplicant dated 27 October 2016 (as defined in section A.III of the Decision) as per section 35, 29 paragraph 2 WpÜG and with regard to the 2^nd 3^rd and 4^th Applicant, in accordance with section 30 para. 1 sentence 1 no. 1 sentence 3 WpÜG, the Applicants will, as per section 35 para. 1 sentence 1 WpÜG, be exempt from the obligation to publish a takeover bid for TOM TAILOR Holding AG, Hamburg, as well as from the obligations pursuant to section 35 para. 2 sentence 1 WpÜG, to submit an offer document to BaFin and to publish a mandatory offer according to section 35 para. 2 sentence 1 WpÜG in conjunction with section 14 para. 2 sentence 1 WpÜG.

2. The exemption referred to in paragraph 1 of this tenor of the Decision may be revoked (revocation proviso), if:

• the cash-capital-increase referred to in paragraph 1 of this tenor of the Decision has not been registered in the commercial register of TOM TAILOR Holding AG, Hamburg, by 31 December 2016; and/or

• the backstop agreement between TOM TAILOR Holding AG, Hamburg and the 1^stApplicant (as defined in point A.III of the Decision), does not exist anymore in a legally binding and materially unchanged manner at the time of the registration of the cash-capital-increase (as referred to in paragraph 1 of this tenor of the Decision) in the commercial register of TOM TAILOR Holding AG, Hamburg; and/or

• TOM TAILOR Holding AG, Hamburg does not by 31 January 2017 and following the completion of the cash-capital-increase, receive at least € 10 million (including the stake of the 1^stApplicant) for the acquisition of new shares from the cash-capital-increase referred to in paragraph 1 of this tenor of the Decision and in accordance with the obligations under the backstop agreement concluded between TOM TAILOR Holding AG, Hamburg and the 1^st Applicant; and/or

• the financial covenants as applicable at the time of the exemption Decision to the syndicated loan agreement and the promissory notes by which the Target Company is, inter alia, financed (as defined in paragraphs A.I.2 and A.IV.3 of the Decision) are changed by the contracting parties to the syndicated loan agreement and the note loans before the registration of the cash-capital-increase referred to in paragraph 1 of this tenor of the Decision; and/or

• the conditions of paragraph 3(A) to (C) of this tenor of the Decision are not fulfilled.

3. The exemption referred to in Paragraph1 of this tenor of the Decision are subject to the following conditions:

• The Applicants must immediately inform and submit appropriate evidence to BaFin regarding the amount of shares and voting rights acquired by the 1st Applicant in accordance with paragraph 1. and 2(A) of this tenor of the Decision, and how many shares and voting rights are directly attributable to the 2nd, 3rd and 4th Applicants.

and

• The Applicants shall, in any event, immediately notify BaFin of the registration of the execution of the cash-capital-increase in accordance with paragraphs 1 and 2(A) of this tenor of the Decision by submitting appropriate supporting documentation by 31 March 2017 at the latest.

and

• The Applicants have to immediately notify BaFin of any event, circumstance or conduct which could justify the revocation of the exemption pursuant to paragraph 2(A) to (E) of this tenor of the Decision.

The exemption is based mainly on the following grounds:

1. The Target Company is TOM TAILOR Holding AG, a stock corporation incorporated under German laws with its registered office in Hamburg, and registered in the Commercial Register of the local court of Hamburg under HRB 103641. The current share capital of the Target Company amounts to €26,027,133 and is divided into 26,027,133 registered shares each with a nominal value of €1. The shares of the Target Company are admitted under ISIN DE000A0STST2 to trading on the regulated market of the Frankfurt Stock Exchange (Prime Standard) and the Hamburg Stock Exchange. The Applicants currently hold, directly and indirectly, a total of 29.47% of the voting rights in the Target Company.

2. On 27 October 2016, the Target Company and the 1^stApplicant entered into a so-called backstop agreement ("Backstop Agreement") to support a cash-capital-increase by the Target Company as planned at the end of 2016 of up to 10% of the share capital of the Target Company, which is up to €2,602,713, excluding subscription rights (hereinafter the "Capital Increase 2016"). Under the Backstop Agreement, the 1^st Applicant committed itself to purchase all shares issued under the Capital Increase 2016 which are not placed with external investors so that a total gross proceeds of at least €10 million is achieved. The 1^st Applicant has also reserved the right to subscribe for at least ca. 29.47% of the new shares of the Target Company in order to prevent the dilution of the total share of voting rights held by the Fosun Group in the Target Company which amounts to ca. 29.47%.

3. The Applicants considered it probable that the 1^stApplicant has to and will acquire more new shares issued by the Target Company than the pro-rata amount; in this case, the control threshold (section 35, 29 para. 2 WpÜG) will be exceeded by the Applicants.

4. The Target Company and the Tom Tailor Group as a whole are financed in particular through a syndicated loan of €475 million granted by a bank syndicate which matures on 21 May 2020. This bank syndicate consists ofa term loan of €100 million, a revolving credit facility of €187.5 million, as well as a guaranty and credit facility of €187.5 million (hereinafter referred to as the "Syndicated Loan"), as well as note loans of €35 million.

5. The Target Company is in a financially difficult phase. As a result, new negotiations with the banks and the creditors took place in October 2016, which led to the adaption of the financial covenants for the residual period of the Syndicated Loan and the note loans which were settled by way of a so-called "amendment agreement" dated 19 October 2016 and the so-called “note loans amendment agreements” dated 17, 19 and 20 October 2016.

6. The consortium banks have made the amendment agreement subject to the implementation by the Target Company of the Capital Increase 2016 and the backstop obligation by the 1^st The 1^stApplicant provides, in connection with this, a restructuring contribution of up to €10 million. Due to its backstop commitments, the 1^st Applicant contributes more than the average shareholder, which regularly takes over new shares of the Target Company only to the extent necessary to protect its old shareholding against any dilution effects.

7. The supply of liquidity based on the 1^stApplicant's backstop obligation is appropriate to meet the requirements for a restructuring contribution "to help to overcome a crises and, consequently, for the continued existence of the Target Company".

8. The aforementioned restructuring contribution shall also be attributable to the other Applicants (2^st, 3^ndand 4^th Applicant) as they are respective parent companies of 1^st Applicant. To this extent, the other Applicants (2^nd, 3^rd and 4^th Applicant) also participate in the opportunities and risks that the 1^st Applicant faces with its restructuring contribution.

9. The granting of the exemption is at the discretion of BaFin. With any weighing of interests of the Applicants against those of the existing shareholders of the Target Company, which is to be carried out according to section 37 para. 1 WpÜG, priority has to be given in principle to the interests of the (potential) bidder where the preconditions of section 9 WpÜG-Angebotsverordnung have been met. The restructuring is intended to secure the survival of the Target Company, which ultimately is in the interests of all shareholders of the Target Company.

10. As the Applicants are contributing to the survival of the Target Company with their substantial restructuring contributions, they cannot be overburdened by having to make a mandatory offer to the remaining shareholders of the Target Company, which would impose an additional significant financial burden on the Applicants. Their restructuring contributions are primarily intended to benefit the Target Company and thus also indirectly its shareholders. Therefore, the exemption pursuant to section 37 para. 1 and para. 2 WpÜG in conjunction with section 9 sentence 1 no. 3 WpÜG-Angebotsverordnung is to be granted, subject to ancillary conditions.

11. Opposing interests of the existing shareholders of the Target Company, which should also be given special consideration taking into account the weighing of interest as incorporated by the legislature in section 9 WpÜG-Angebotsverordnung, have not been identified.

16 December 2016

Fosun International Limited

Fosun Holdings Limited

Fosun International Holdings Ltd.

Guo Guangchang