28 June 2016

Details of the person subject to the disclosure requirement
Last name: Söhngen
First name: Wolfgang
Position: Member of a managing body
Information about the transaction with duty of notification
Description of the financial instrument: PAION AG ordinary shares
ISIN/WKN of the financial instrument: DE000A0B65S3
Type of transaction: Buy 
Date: 27.06.2016
Price: 2.08006
Currency: EUR
No. of items: 9700
Total amount traded: 20176.58
Place: Xetra, Turqoise, Chi-X Europe
Information about the company with duty of publication
Issuer: PAION AG
Martinstr. 10-12
52062 Aachen
ISIN: DE000A0B65S3

2016 Directors' dealings notifications according to § 15a WpHG