The Company has received a form TR-1 on 3 July 2018 from GS&P Kapitalanlagegesellschaft S.A.

TR-1 Standard form for notification of major holdings

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
ZEAL Network SE

1b. Please indicate if the issuer is a non-UK issuer:
Non-UK issuer

2. Reason for the notification:
Other: Change of management company from LRI Invest S.A. to GS&P KAG S.A. as of 01.07.2018

3. Details of person subject to the notification obligation:
Name: GS&P Kapitalanlagegesellschaft S.A.
City and country of registered office: Grevenmacher, Luxembourg

4. Full name of shareholder(s) (if different from 3.):
Name:
City and country of registered office:

5. Date on which the threshold was crossed or reached:
01.07.2018 (Weekend)

6. Date on which issuer notified:
03.07.2018

7. Total positions of person(s) subject to the notification obligation:
% of voting rights attached to shares (total of 8. A)
Resulting situation on the date on which threshold was crossed or reached: 4.93%
Position of previous notification: N/A

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Resulting situation on the date on which threshold was crossed or reached: 0%
Position of previous notification: N/A

Total of both in % (8.A + 8.B)
Resulting situation on the date on which threshold was crossed or reached: 4.93%
Position of previous notification: N/A

Total number of voting rights of issuer
Resulting situation on the date on which threshold was crossed or reached: 8,385,088

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
A: Voting rights attached to shares
Class/type of shares: GB00BHD66J44

Number of voting rights (Direct): 413,500
Number of voting rights (Indirect):
SUBTOTAL 8. A: 413,500

% of voting rights (Direct): 4.93%
% of voting rights (Indirect):
SUBTOTAL 8. A: 4.93%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
N/A

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
N/A

9. Information in relation to the person subject to the notification obligation:
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertakings(s) holding directly or indirectly an interest in the (underlying) issuer

10. In case of proxy voting, please identify
Name of the proxy holder: N/A
The number and % of voting rights held: N/A
The date until which the voting rights will be held: N/A

11. Additional information
Working Capital Management Pte. Ltd. is the investment manager of Working Capital Partners, Ltd. and High Street Partners, Ltd.

Place of completion: Grevenmacher, Luxembourg
Date of completion: 03.07.2018