Subject: The treasury shares repurchase programme

Current Report No. 26/2017

The Management Board of Pfleiderer Group S.A. (the "Company") informsthat today it resolved to determine the terms of the treasury sharesrepurchase programme to be implemented in the Company (the "Programme"),subject to its approval by the Company's Supervisory Board and theGeneral Meeting of the Shareholders. Also today, the Supervisory Boardapproved the terms of the Programme and the Management Board's plans toconvene the General Meeting of Shareholders, the agenda of which willinclude, inter alia, the adoption of a resolution related to theProgramme.

The main terms of the Programme, which are still subject to the approvalof the General Meeting of Shareholders, are as follows:

1. The Company may repurchase no more than 6,470,100 (in words: sixmillion four hundred seventy thousand one hundred) ordinary bearershares in the Company, paid up in full, (the "Shares") representingjointly no more than 10% of the Company's share capital;

2. The repurchase price of the Shares cannot be lower than PLN 0.33 (inwords: thirty-three) per Share and higher than PLN 60 (in words: sixtyzlotys) per Share;

3. The authorisation granted to the Management Board for the repurchaseof the Shares shall cover the period until 30 June 2018;

4. With respect to the Shares repurchased under the Programme, theManagement Board will be able to: (i) offer them to eligible individualsauthorised to purchase the Shares under an incentive programme at theCompany, if a decision to launch such programme is made by theSupervisory Board; (ii) redeem the Shares; or (iii) otherwise disposethe Shares with a view to fulfil the needs resulting from the Company'sbusiness.

Detailed procedures, terms and conditions of the Programme will beestablished by the Management Board, upon the approval of theSupervisory Board, at a later date and will be published forthwith upontheir determination.

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This report was prepared pursuant to Article 17 Section 1 of Regulation(EU) No. 596/2014 of the European Parliament and of the Council of 16April 2014 on market abuse (market abuse regulation) and on repealingDirective 2003/6/EC of the European Parliament and of the Council andCommission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

25 May 2017