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<nbmk;lljjhghg>ESMA/2015/1597</nbmk;lljjhghg>

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the competent authority) (i)

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached (ii):

<nbmk;lljjhghg>SAF-HOLLAND S.A.</nbmk;lljjhghg>

2. Reason for the notification (please tick the appropriate box or boxes):

[X] An acquisition or disposal of voting rights [ ] An acquisition or disposal of financial instruments [ ] An event changing the breakdown of voting rights [ ] Other (please specify) (iii):

3. Details of person subject to the notification obligation (iv):

Name: JPMorgan Asset Management Holdings Inc.

City and country of registered office (if applicable): New York/ U.S.A.

4. Full name of shareholder(s) (if different from 3.) (v): JPMorgan Asset Management (UK) Limited 

5. Date on which the threshold was crossed or reached (vi): 19 January 2017

6. Total positions of person(s) subject to the notification obligation:

7. Notified details of the resulting situation on the date on which the threshold was crossed or reached (viii):

A: Voting rights attached to shares

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

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

8. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s)holding directly or indirectly an interest in the (underlying) issuer. (xiii)

[X] Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (xiv):

9. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

10. Additional information (xvi):

This notification is made pursuant to the implementation of the Amended Transparency Directive and is not necessarily the result of a transaction.

Chain of controlled undertakings:

JPMorgan Asset Management Holdings Inc.
JPMorgan Asset Management International Limited (100%)
JPMorgan Asset Management Holdings (UK) Limited (100%)
JPMorgan Asset Management (UK) Limited (100%)

Done at London on 24 January 2017