DGAP-Adhoc: Phoenix Solar Aktiengesellschaft: Decision to file application related to change sub-segment of the stock exchange

The Management Board decided in its meeting today following consultation with the insolvency administrator of the assets of Phoenix Solar Aktiengellschaft ("Phoenix Solar"), Dr. Michael Jaffé, to apply shortly to the management board of the Frankfurt Stock Exchange pursuant to § 57 of the "Exchange Rules for the Frankfurter Wertpapierbörse" for the revocation of admission of the Phoenix Solar shares to the sub-segment of the regulated market with additional obligations arising from the admission (Prime Standard), whereby the Phoenix Solar shares will be listed on the regulated market (General Standard) for trading ex officio.

By changing the sub-segment of the stock exchange the Company's post-listing obligations like certain reporting and publication requirements will fall away. This will avoid substantial effort and assist the Company in cost-saving process. The withdrawal of the listing becomes effective three months after the publication of the withdrawal decision by the Management of the Frankfurt Stock Exchange on the internet (www.deutsche-boerse.com)