BEGA CHEESE LIMITED — Capital/Financing Update 2017

Jun 7, 2017

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ASX ANNOUNCEMENT

Bega Cheese Strengthens Opening Milk Price

Bega Cheese has today announced an opening price of $5.50 per kg milk solids for its Victorian milk supply. The price is a 10% increase on last year’s opening price and reflects global market improvements in the dairy sector.

Executive Chairman Barry Irvin commented, “We felt it was important to deliver a positive price signal to our farmers after what has been a very tumultuous period for the industry. The price reflects improvements in the market while being appropriately conservative given the volatility that has been experienced in global supply and demand in recent years.”

Bega Cheese continues to grow its dairy offering in cheddar, mozzarella, processed cheese, cream cheese and nutritional milk powders. The company expects that its opening price will give confidence to its existing suppliers, attract new suppliers and improve the returns the company receives from dairy ingredients.

8 June 2017

For further information please contact

Barry Irvin Executive Chairman Bega Cheese Limited ABN 81 008 358 503

www.begacheese.com.au

02 6491 7720