Directors’ Dealings

Directors’ dealings in accordance with section 15a of the Wertpapierhandelsgesetz

Since July 1, 2002, the members of the executive board and supervisory board of companies listed in Germany are required to notify both the company and the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin – German Federal Financial Supervisory Authority) of the purchase or sale of shares of the company or of rights with respect to these shares. This obligation also applies to related parties (spouses, children, etc.).

Pfleiderer AG publishes all notifications by members of the Executive Board and Supervisory Board regarding the purchase or sale of Company shares or rights with respect to these shares here.

Notification of Director’s Dealings under sec. 15a WpHG

Notification date

Stock exchange

Issuer_____________

Notifying party_____________

Transaction_____________

Transaction volume

December 2, 2011

XETRA

Pfleiderer AG, Ingolstädter Str. 51, 92318 Neumarkt, ISIN DE0006764749

Woodstock Management Beteiligungs GmbH & Co. KG

Sale of 549,033 non-par-value shares, price per share € 0.176675

€ 97,000.76

August 2, 2011

Frankfurt

Pfleiderer AG, Ingolstädter Str. 51, 92318 Neumarkt, ISIN DE0006764749

HTP Unternehmensverwaltung GmbH & Co. KG

Sale of 500,000 non-par-value shares, price per share € 0.50

€ 250,000.00

July 27, 2011

Frankfurt - XETRA

Pfleiderer AG, Ingolstädter Str. 51, 92318 Neumarkt, ISIN DE0006764749

Hanno C. Fiedler(Member of the Supervisory Board)

Sale of 10,000 non-par-value shares, price per share € 0.4861

€ 4861.13

July 25, 2011

XETRA

Pfleiderer AG, Ingolstädter Str. 51, 92318 Neumarkt, ISIN DE0006764749

Pawel Wyrzykowski (Member of the Executive Board)

Sale of 14,272 non-par-value shares, price per share € 0.8098

€ 11,557.47

July 22, 2011

XETRA

Pfleiderer AG, Ingolstädter Str. 51, 92318 Neumarkt, ISIN DE0006764749

Heiko Graeve (Member of the Executive Board)

Sale of 34 non-par-value shares, price per share € 0.518

€ 17.61

July 22, 2011

XETRA

Pfleiderer AG, Ingolstädter Str. 51, 92318 Neumarkt, ISIN DE0006764749

Heiko Graeve (Member of the Executive Board)

Sale of 4.966 non-par-value shares, price per share € 0.546

€ 2,711.44

June 29, 2011

Frankfurt

Pfleiderer AG, Ingolstädter Str. 51, 92318 Neumarkt, ISIN DE0006764749

Woodstock Management Beteiligungs GmbH & Co. KG

Sale of 94,134 non-par-value shares, price per share € 0.431

€40,572.62