BEGA CHEESE LIMITED — M&A Activity 2013

Nov 19, 2013

BEGA CHEESE SINCE 1899

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PO Box 123 Bega NSW 2550 Australia Ph: +61-2-6491 7777 Fax: +61-2-6491 7700

General email enquiries: bega.admin@begacheese.com.au

20 November 2013

Export email enquiries: bega.export@begacheese.com.au

Internet: www.begacheese.com.au www.bega.net.au

ASX Limited Company Announcements Office North Tower, Rialto 525 Collins Street MELBOURNE VIC 3000

Dear Sir / Madam

Takeover bid by Bega Cheese Limited (ASX Code: BGA) for Warrnambool Cheese and Butter Factory Company Holdings Limited (ASX Code: WCB) – section 630(3) notice

We refer to the off-market bid by Bega Cheese Limited ABN 81 008 358 503 ( Bega Cheese ) for Warrnambool Cheese and Butter Factory Company Holdings Limited ABN 15 071 945 232 ( Offer ).

Bega Cheese encloses, by way of service pursuant to section 630(5)(b) of the Corporations Act 2001 (Cth) ( Act ), a notice given under section 630(3) of the Act in relation to the status of the defeating conditions of the Offer.

Yours faithfully

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Brett Kelly Company Secretary

BEGA CHEESE LIMITED ACN 008 358 503 Head Office, Cheese Packaging & Processing: 23—45 Ridge Street, North Bega NSW 2550, Australia Butter, Cheese & Powder Manufacture: 13 Lagoon Street, North Bega NSW 2550, Australia

BEGA CHEESE LIMITED ABN 81 008 358 503

Off-market bid by Bega Cheese Limited ABN 81 008 358 503 (Bega Cheese) for Warrnambool Cheese and Butter Factory Company Holdings Limited ABN 15 071 945 232 (Warrnambool Cheese & Butter)

Section 630(3) of the Corporations Act 2001 (Cth) (Act)

Notice of status of defeating conditions

To: Warrnambool Cheese and Butter Factory Company Holdings Limited

ASX Limited

This is a notice given by Bega Cheese in relation to the offers ( Offer ) made under its off-market bid for the ordinary shares in Warrnambool Cheese & Butter contained in its Replacement Bidder’s Statement dated 27 September 2013 (as supplemented) ( Bidder’s Statement ).

For the purposes of section 630(3) of the Act, Bega Cheese hereby gives notice that as at the date of this notice:

1. the defeating conditions set out in Sections 9.2.1 and 9.2.2 of the Bidder’s Statement have been fulfilled;

2. the Offer is free of all defeating conditions; and

3. its voting power in Warrnambool Cheese & Butter is 18.42%.

Dated: 20 November 2013

Signed for and on behalf of Bega Cheese Limited by:

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Barry Irvin Executive Chairman