On 13 July 2021 we received the following notification from Morgan Stanley:

Referring to the voting rights notification dated 24/06/2021 notifying that Morgan Stanley, Wilmington, Delaware, USA, has exceeded the threshold of 10% of the voting rights in ZEAL Network SE, we hereby make the following notification pursuant to Sec. 43 of the German Securities Trading Act (Wertpapierhandelsgesetz):

1. The increase of voting rights resulting in Morgan Stanley exceeding the notification threshold of 10% of the voting rights in ZEAL Network SE did not serve the purpose of strategic goals; rather it was made in the context of client facilitation.

2. Morgan Stanley may in the next 12 months acquire further voting rights in ZEAL Network SE, in particular in the context of client facilitation.

3. Morgan Stanley does not intend to influence the composition of the management board, supervisory board or any other administrative body of ZEAL Network SE.

4. Morgan Stanley does not intend to cause a significant change in the capital structure of ZEAL Network SE, in particular not of the ratio between equity and debt financing and the dividend policy.

5. The increase of voting rights resulting in Morgan Stanley exceeding the notification threshold of 10% of the voting rights in ZEAL Network SE resulted from and/or was made in the context of client facilitation. The increase was financed by a combination of external and Morgan Stanley own funds.