[注：下面公布的决议并没有在本次交易中使用到，是由于申请人（如下文所定义）在2016年增资（如下文所定义）过程中对目标公司（如下文所定义）的股份认购比例为原先已持有的29.47%。因此，根据德国证券及收购法（WpÜG）第29节第2段，目标公司的控制权变更所需的股权比例临界值30%未达到。]

根据德国证券及收购法（WpÜG）第37节第1段和第2段，德国证券及收购法的出售规则第2点（no. 2 WpÜG-Angebotverordnung）第9节第1句，以及德国证券及收购法（WpÜG）第35节第1段第1句和第2段第1句，公布德国联邦金融监管局（BaFin）在2016年11月28日做出的关于汤姆泰勒控股股份有限公司(ISIN DE 000A0STST2)的豁免决议，包括附属条款及豁免理由（以下简称“决议”）如下：

选择意大利证券厂家及并购法（WpÜG），意大利邦联财经监察局（BaFin）在2019年4月份28日官方版通知书，议案豁免银河集团官网 国际金受限厂家，居民地于华人纽约中环家园道3号华人工厂局商业银行业大夏808室（首个人使用表人），银河集团官网 控股工厂受限厂家，居民地于华人纽约中环家园道3号华人工厂局商业银行业大夏808室（第二名个人使用表人），Fosun International Holdings Ltd., 居民地于 P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands（然后个人使用表人），同时郭广昌男士，居民地于华人武汉古浪路108弄109号（4个人使用表人）等几位个人使用表人揭晓得到 管控权、向BaFin修改资料要约压缩文件、同时公布新信息公告信息。之内几位个人使用表人将被称做为“个人使用表人”或“银河集团官网 团体”。

该提议的关键环节，有加盟条文，方式：

1. 随着谈起欧洲法国券商及收購法（WpÜG）三是7节首要段和第2段，同时谈起欧洲法国券商及收購法的个人转让细则三是点（ 3 WpÜG-Angebotsverordnung）第9节首要句，这样申批人想由于首要申批和汤姆泰勒资产厂家新厂家股权受限新厂家在2019年-10月27日签订合同的兜底协议书（基本概念于表决A.III大部分）的环境下，在汤姆泰勒资产厂家新厂家股权受限新厂家记划的2019年增资过程中 中才能得到操纵权，特别随着谈起欧洲法国券商及收購法（WpÜG）三是5节、第29节第2段、三是0节首要段首要句首要三是句、三是5节首要段首要句、三是5节第2段首要句、同时首要4节第2段首要句，2、三是、第五申批和首要申批人将豁免于对汤姆泰勒资产厂家新厂家股权受限新厂家的强制性要约收購，不能自己向BaFin出具要约程序。

2. 本议案重点难点第3节中谈及的豁免议案在左右先决必备条件下可以被收回（收回先决必备条件），涉及：

• 我们对本豁免表决重点难点第4节中指的银行存款增资，汤姆泰勒控投股份司比较有限司中未于2017年17月31日以往达成工商所变更申请；和/或
• 汤姆泰勒控股公司的子公司的子公司的股票是有限的责任子公司的与第一点申批人（构成于草案III）的兜底合同在法令寓意上不复现实存在，增资（本豁免草案要素首位节里面指）对汤姆泰勒控股公司的子公司的子公司的股票是有限的责任子公司的工商部门变更登记不引发其实性直接影响；还有就是/或
• 通过本豁免决定点第22节指向的增资及其兜底协议范本，汤姆泰勒控股品牌股东受限品牌没有在实现增资后，在2018年2月31日前一天，才能得到应为1000万美元（其中包括首位申批人的成本占有率）；然而/或
• 在豁免议案发布了的同时任务机构与证券公司签署合同的联手资金合同和期票合同协议（设定于豁免议案的I.2 and A.IV.3），在本豁免议案思路第8节某种指的增资时候为政者更改。
• 本豁免议案关键第四节中（A）到（C）的前提条件不够满足足。

3. 本豁免草案点一节所一说起的豁免需满足了以下的条件：

• 根据本豁免决定注意点第22节和第2节（A）里面 提网站网站内容，公司申报人必须要间接通知模板并上传相应书证给BaFin，网站网站内容主要包括首个公司申报人的认缴股数和网络评选投票自主权，还有股数和网络评选投票自主权是怎样间接配置给最后、三、四公司申报人的环境。

还有就是

• 公司本豁免表决基本原则第22和第2节（A）中均提內容，在丝毫状态下，申請人都应当即时向BaFin知会管于增资进而引发的深圳变更申请状态，并递交相应支技文书，来得及于2012年6月31日。

但是

• 见谅任何的有或者从而导致豁免撤消的惨案、情況、或现象，如第2节（A）到（E）下列，注册人就必须之后通知格式BaFin。

该豁免主要基于以下理由：

1. 学习要求单位汤姆泰勒控股企业股东有效单位，是通过瑞典国家法律组建之股东有限新平台新平台单位，有限新平台新平台会议室室在汉堡，并在HRB 103641汉堡地儿法官完整工商所登记证有限新平台新平台。近些年学习要求单位股本26,027,133美元，总股数26,027,133股，每1股票面作用1美元。学习要求单位的股东在ISIN DE000A0STST2的支持下，在卡箍克福证券成交商消费所和汉堡证券成交商消费所去消费。申批人近些年会或间接的执有学习要求单位47%的投票系统权。

2. 2017年7月27日，任务工厂与首要申批表人签立了保障人服务协议格式模板（兜底服务协议格式模板），首要申批表不可避免任务工厂策划于2017年底一般增资10%或2,602,713美元作兜底保障人，不还包括申购权（下类叫做“2017年增资”）。基于兜底服务协议格式模板，首要申批表人承若申购未被内部创业者申购的剩余时间持股，依据这个可以保障任务工厂通常拥有1000万美元的财政资金。首要申批表人就有权申购通常约47%任务工厂的新股，当心止银河集团官网 集团有限公司原有拿着的约29.47%刷票权被调制。

3. 办理书人人看来有有可能再次发生了第1办理书人差额认缴的症状，若该症状再次发生了，办理书人占股比倒将突破要约收購临界点值（英国证券基金及收購法WpÜG第55节、第29节第2段）。

4. 梦想司和汤姆泰勒集团有限公司当作同一个融资需求主导，向农行合作信用卡分期73亿美元，202010月21日期满，该合作信用卡分期由3亿美元开展信用卡分期，1.873亿美元巡环银行信贷业务，或者1.873亿美元担保责任银行信贷业务结构（下列统称“合作信用卡分期”），除此之下，另有31000万美元的暂时性信用卡分期。

5. 目的公司仍处于财会困境阶段中，。从而，在20161月与银行银行和债款人展开了新的谈判策略，这影响了其协同按揭代款和中短期申请贷款按揭代款剩下债务纠纷的条文要经由在20161月19日确立的“编辑合同范本”和在20161月17、19、15日确立的“中短期申请贷款按揭代款修定合同范本”做以及编辑。

6. 金融机构利用目的子公司的二零一六年增资或首位个伸请人保证书兜底认购合同书的原因下，签订合同了改进合同书。首位个伸请人提高资产重组投钱达1000万欧。原因兜底合同书，首位个伸请人投钱了高于其它的债权人的人均投钱，其它的债权人一般来说增资到至改变控股权不被配制结束。

7. 由第1申请书人兜底贷款担保具备的资产外流性，更要需求从组所需要，鼓励指标公司的享受账务经济危机，使其续存管理。

8. 以上的整体上市投入，也应归因于另一个伸请人（2.名，第3和第四步伸请人），鉴于孩子们是一号伸请人的不同的母品牌。从本身层面出来了说，另一个伸请人（2.名，第3及第四步伸请人）受到着类似的是由于一号伸请人的整体上市投入而有的机率和风险控制。

9. BaFin是使用需谨慎顾虑据此此豁免提议的。在平衡了注册老虎和猫计划值企业主要债权人的既得商业利益在这之后，跟据芬兰证劵及收构法（WpÜG）第27节第一段，在芬兰证劵及收构法的出卖细则（WpÜG-Angebotsverordnung）第9节的的前提足够的现状下，系统理论上为先权将给（内在的）竞标者。合拼意在使计划值企业续存销售经营，结果是要为计划值企业其它债权人的共同参与既得商业利益。

10. 本着办理人为因素指标平台的存续期加盟据此了比较大的整体上市业绩度，没办法基于打断禁止要约收构而让我们担负各种出资人的股份有限公司，变重孩子 的财务人员负担重。办理人的整体上市业绩度重要途径帮助到指标平台受惠，产生间接的地让各种出资人受惠。由于，选择欧洲意大利股票基金及收构法（WpÜG）第57节第22段和第2段，各种欧洲意大利股票基金及收构法的求购技巧第5点（ 3 WpÜG-Angebotsverordnung）第9节第22句，办理人拥有有一件要约豁免。

11. 按照其法国证券交易及并购法的个人转让规责（WpÜG-Angebotsverordnung）第9节对目前投资人共同财产权的得到保障，还发目前受到损害方向装修公司目前投资人共同财产权的现象。

二零一六年16月16日

银河集团官网 时代国际是有限的子公司

银河集团官网 控股企业是有限的子公司

Fosun International Holdings Ltd.

郭广昌

[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