DGAP-PVR: PAION AG: Publication according to § 26

PAION AG 31.01.2014 11:14 Dissemination of a Voting Rights Announcement, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- On January 28, 2014, Capital Ventures International, Grand Cayman, Cayman Islands, British West Indies has informed us according to Article 21, Section 1 of the WpHG that its voting rights in PAION AG, Aachen, Germany, have exceeded the 3% and 5% threshold of the voting rights on January 23, 2014 and on that day amounted to 5.38% (this corresponds to 1,581,003 voting rights). On January 28, 2014, CVI Holdings, LLC, Wilmington, Delaware, USA has informed us according to Article 21, Section 1 of the WpHG that its voting rights in PAION AG, Aachen, Germany have exceeded the 3% and 5% threshold of the voting rights on January 23, 2014 and on that day amounted to 5.38% (this corresponds to 1,581,003 voting rights). According to Article 22, Section 1, Sentence 1, No. 1 of the WpHG, 5.38% of the voting rights (this corresponds to 1,581,003 voting rights) are to be attributed to CVI Holdings, LLC from Capital Ventures International. On January 28, 2014, Susquehanna International Holdings, LLC, Wilmington, Delaware, USA has informed us according to Article 21, Section 1 of the WpHG that its voting rights in PAION AG, Aachen, Germany have exceeded the 3% and 5% threshold of the voting rights on January 23, 2014 and on that day amounted to 5.38% (this corresponds to 1,581,003 voting rights). According to Article 22, Section 1, Sentence 1, No. 1 of the WpHG, 5.38% of the voting rights (this corresponds to 1,581,003 voting rights) are to be attributed to Susquehanna International Holdings, LLC from Capital Ventures International and CVI Holdings, LLC. On January 28, 2014, SIH Partners, LLLP, Wilmington, Delaware, USA has informed us according to Article 21, Section 1 of the WpHG that its voting rights in PAION AG, Aachen, Germany have exceeded the 3% and 5% threshold of the voting rights on January 23, 2014 and on that day amounted to 5.38% (this corresponds to 1,581,003 voting rights). According to Article 22, Section 1, Sentence 1, No. 1 of the WpHG, 5.38% of the voting rights (this corresponds to 1,581,003 voting rights) are to be attributed to SIH Partners, LLLP from Capital Ventures International; CVI Holdings, LLC and Susquehanna International Holdings, LLC. On January 28, 2014, Colombos International Holdings, Inc., Wilmington, Delaware, USA has informed us according to Article 21, Section 1 of the WpHG that its voting rights in PAION AG, Aachen, Germany have exceeded the 3% and 5% threshold of the voting rights on January 23, 2014 and on that day amounted to 5.38% (this corresponds to 1,581,003 voting rights). According to Article 22, Section 1, Sentence 1, No. 1 of the WpHG, 5.38% of the voting rights (this corresponds to 1,581,003 voting rights) are to be attributed to the Colombos International Holdings, Inc. from Capital Ventures International; CVI Holdings, LLC; Susquehanna International Holdings, LLC and SIH Partners, LLLP. On January 28, 2014, Explorer Partner Corp., Wilmington, Delaware, USA has informed us according to Article 21, Section 1 of the WpHG that its voting rights in PAION AG, Aachen, Germany have exceeded the 3% and 5% threshold of the voting rights on January 23, 2014 and on that day amounted to 5.38% (this corresponds to 1,581,003 voting rights). According to Article 22, Section 1, Sentence 1, No. 1 of the WpHG, 5.38% of the voting rights (this corresponds to 1,581,003 voting rights) are to be attributed to Explorer Partner Corp. from Capital Ventures International; CVI Holdings, LLC; Susquehanna International Holdings, LLC and SIH Partners, LLLP. On January 29, 2014, Heights Capital Management, Inc., Wilmington, Delaware, USA has informed us according to Article 21, Section 1 of the WpHG that its voting rights in PAION AG, Aachen, Germany have exceeded the 3% and 5% threshold of the voting rights on January 23, 2014 and on that day amounted to 5.38% (this corresponds to 1,581,003 voting rights). According to Article 22, Section 1, Sentence 1, No. 6 of the WpHG, 5.38% of the voting rights (this corresponds to 1,581,003 voting rights) are to be attributed to Heights Capital Management, Inc. from Capital Ventures International. On January 30, 2014, Mr. Jeffrey Yass, USA has informed us according to Article 21, Section 1 of the WpHG that his voting rights in PAION AG, Aachen, Germany have exceeded the 3% and 5% threshold of the voting rights on January 23, 2014 and on that day amounted to 5.38% (this corresponds to 1,581,003 voting rights). According to Article 22, Section 1, Sentence 1, No. 1 of the WpHG, 5.38% of the voting rights (this corresponds to 1,581,003 voting rights) are to be attributed to Mr. Jeffrey Yass from Capital Ventures International; CVI Holdings, LLC; Susquehanna International Holdings, LLC; SIH Partners, LLLP, Colombos International Holdings, Inc. and Explorer Partner Corp. According to Article 22, Section 1, Sentence 1, No. 6 in connection with Article 22, Section 1, Sentence 2 of the WpHG, 5.38% of the voting rights (this corresponds to 1,581,003 voting rights) are also to be attributed to Mr. Jeffrey Yass from Capital Ventures International. 31.01.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: PAION AG Martinstr. 10-12 52062 Aachen Germany Internet: www.paion.com End of Announcement DGAP News-Service ---------------------------------------------------------------------------