BEGA CHEESE LIMITED — M&A Activity 2018

Nov 6, 2018

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ASX ANNOUNCEMENT

Capilano Scheme of Arrangement

Bega Cheese Limited (Bega Cheese) has assessed its current 15.6% shareholding in Capilano Honey Limited (Capilano) and, in the absence of a superior proposal, Bega Cheese intends to vote in favour of the Capilano scheme of arrangement under which Bravo BidCo Pty Ltd will acquire 100% of the shares in Capilano. Bega Cheese intends to receive the cash consideration under the scheme, which as announced by Capilano on 2 November 2018 has been increased to $21.00 per Capilano share.

7 November 2018

For further information please contact:

Mr. Barry Irvin Executive Chairman Bega Cheese Limited +61 2 6491 7720