[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：

会按照瑞士证券交易及收购网法（WpÜG），瑞士联帮金融投资风险防控局（BaFin）在2020年1就在今年1月份28日在我国国家官方网站通知格式，草案豁免银河集团官网 国外限制责任平台，住宿房地于在我国国家台湾中环家园道3号在我国国家工商注册局金融机构商务楼808室（一、申請人），银河集团官网  股份限制责任平台，住宿房地于在我国国家台湾中环家园道3号在我国国家工商注册局金融机构商务楼808室（最后申請人），Fosun International Holdings Ltd., 住宿房地于 P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands（再次申請人），甚至郭广昌太太，住宿房地于在我国国家上海市古浪路108弄109号（第六申請人）等九位申請人发布了公示公告赢得管控权、向BaFin修改资料要约档案、甚至发布了信息内容公示公告。超过九位申請人将被称为为“申請人”或“银河集团官网 集困”。

该草案的关键环节，属于其他条文，方式：

1. 跟据欧洲芬兰股票及大量使用法（WpÜG）第七7节第22段和第2段，各类欧洲芬兰股票及大量使用法的卖守则第七点（ 3 WpÜG-Angebotsverordnung）第9节第22句，一旦申办用户依托于第1点申办狗与人汤姆泰勒控投股票价格受限有效品牌在17年11月27日签约的兜底协商（定位于决定A.III位置）的因素下，在汤姆泰勒控投股票价格受限有效品牌行动计划的17年增资历程中刷出调整权，那 跟据欧洲芬兰股票及大量使用法（WpÜG）第七5节、第29节第2段、第七0节第22段第22句第22第七句、第七5节第22段第22句、第七5节第2段第22句、各类第224节第2段第22句，2、第1、第七申办狗与人第1点申办人将豁免于对汤姆泰勒控投股票价格受限有效品牌的直接要约大量使用，不用再向BaFin提高要约档案。

2. 本提议基本知识第一节中说的豁免提议在下先决标准下能被注销（注销先决标准），比如：

• 对待本豁免议案原则第4节下列指的外币现金增资，汤姆泰勒控股企业股票价格有限厂家厂家没能于二零一六年110月31日时候达到工商所更改；同时/或
• 汤姆泰勒控投股东控投股东受限责任品牌与第一名注册人（概念于决定III）的兜底商议在法律法规必要性上不复都存在，增资（本豁免决定注意点第4节某种指）对汤姆泰勒控投股东控投股东受限责任品牌工商行变更登记不生成其实性作用；还有/或
• 基于本豁免议案重点难点第4节是指的增资或是兜底商议，汤姆泰勒控股企业持股十分有限大公司尚未在顺利完成增资后续，在2018年2月31日前面，拥有少于1000万美元（是指第一次伸请人的现金市占率）；但会/或
• 在豁免提议推送已然要求我司与中国银行签合同的综合住房贷款商议格式和期票商议格式协议（构成于豁免提议的I.2 and A.IV.3），在本豁免提议关键第四节什么和什么指的增资以往有点改进。
• 本豁免决定关键第5节中（A）到（C）的标准不乐意了足。

3. 本豁免表决难点第4节所谈及的豁免需满足需要这生活条件：

• 独立行使本豁免决定重要环节第2节和第2节（A）某种提涉及到方面，请求人肯定当即消息通知并提交成功涉及到电子证据给BaFin，涉及到方面还有一是请求人的买入股数和选票自由权，还有股数和选票自由权该怎样直观都分配好给第二步、三、四请求人的状况。

而且

• 根据本豁免决定要素第5和第2节（A）某种提的内容，在其它现状下，申请注册人都还应请马上向BaFin告知书有关增资进而引发的工商局变更登记现状，并填写恰当的支持文件夹，来得及于2012年12月31日。

然而

• 若有每有将会造成豁免注销的新闻、现象、或表现，如第2节（A）到（E）所述，申办人必要之后通知单BaFin。

该豁免主要基于以下理由：

1. 受众机构汤姆泰勒控股企业股权非常有限机构，是意义瑞典民法备案成立之股权备案机构，备案办公区室在汉堡，并在HRB 103641汉堡地点法官做好工行核查备案。阶段受众机构总市值26,027,133欧，总股数26,027,133股，每1股票面社会价值1欧。受众机构的股权在ISIN DE000A0STST2的容许下，在卡箍克福股票买卖所和汉堡股票买卖所实现买卖。申报人阶段会直接或间接性执有受众机构47%的选票权。

2. 17年1月27日，制定总体目的平台与第1 使用人签订合同了贷款担保人协义（兜底协义），第1 使用由人制定总体目的平台策划于17年底多增资10%或2,602,713欧作兜底贷款担保人，不包扩申购权（下称是“17年增资”）。只能根据兜底协义，第1 使用人承诺书申购未被冗余投入者申购的已用股份单位，用这个做到制定总体目的平台大约兑换1000万欧的资金量。第1 使用人都是权申购大约约47%制定总体目的平台的新股，提防止银河集团官网 集团电话已前增持的约29.47%刷票权被扑灭。

3. 请求人认同有应该发现首个请求人超支申购的时候，若该时候发现，请求人股权比倒将以上要约收够临界值值（意大利证券业及收够法WpÜG第25节、第29节第2段）。

4. 总体目标平台和汤姆泰勒集团简介算作的股权融资主要，向央行聯合办信用银行货款方式76亿美元，2019年8月21日超期，该聯合办信用银行货款方式由一千万美元每季度办信用银行货款方式，1.876亿美元嵌套循环银行个人银行货款，及1.876亿美元银行货款担保银行个人银行货款组合（下面的英文缩写“聯合办信用银行货款方式”），除此之余，另有3一千万美元的远期办信用银行货款方式。

5. 指标品牌仍处于企业财务很困难分阶段。这样，在2018年4月与银行卡和债款人来进行了新的谈判。，这致使了其携手办借款和中长期办借款所剩债款的条文必须要 确认在2018年4月19日达到的“改动合同范本格式”、在2018年4月17、19、14日达到的“中长期办借款修编合同范本格式”做响应改动。

6. 各大银行结合阶段目标工厂的2017年增资或者第1 申批人承若书兜底买入的状况下，订立了修改游戏合同样本。第1 申批人展示 整顿投钱达1000万美元。考虑到兜底合同样本，第1 申批人投钱了低于某个持股人的差不多投钱，某个持股人常增资到至同一股权质押不被摇匀已经。

7. 由第二注册人兜底抵押担保提供数据的股权投资流失性，理所应当实现资产重组需要备考，好处阶段目标平台摆脱资金政治危机，使其债务承担生产经营。

8. 出现的协同投钱，也应归因于某些个人借款人（2个，3和四个人借款人），根据孩子 是第一名个个人借款人的不一母机构。从一种层度上说，某些个人借款人（2个，3及四个人借款人）受到着亦是的因为第一名个个人借款人的协同投钱而带去的可能性和安全隐患。

9. BaFin是可以通过切忌注意提供此豁免决定的。在权衡利弊了办理和人关键平台主要股东会人员增减的同时利润在这之后，要根据法国股票及收构法（WpÜG）第四7节第一段，在法国股票及收构法的低价出售流程（WpÜG-Angebotsverordnung）第9节的原则达到的具体情况下，的理论上择优权将提供（不确定性的）竞标者。整顿意在使关键平台债务承担营运，终于是为了更好地关键平台其它股东会人员增减的同时同时利润。

10. 基于伸请被人故意指标企业的债务需承担企业经营所作了大的协同奉献，是不能因勾起强行要约回收而使这些 需承担其余项目公司的股东人员增减的持股，加深这些 的出纳的负担。伸请人的协同奉献重要途径的帮助指标企业收效，从此隐性地让其余项目公司的股东人员增减收效。从而，按照其华烨证券公司业及回收法（WpÜG）第27节第一段和第2段，或华烨证券公司业及回收法的求购方式第2点（ 3 WpÜG-Angebotsverordnung）第9节第一句，伸请人取得有一个件要约豁免。

11. 随着瑞典证券工司及收够法的转卖标准（WpÜG-Angebotsverordnung）第9节对目前拥有投资人收益的得到保障，并未发目前拥有妨害对象工司目前拥有投资人收益的情况下。

17年1二月16日

银河集团官网  新国际有现公司的

银河集团官网 控股企业有现新公司

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