BEGA CHEESE LIMITED — M&A Activity 2021

Jan 24, 2021

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ASX ANNOUNCEMENT

Acquisition of Lion Dairy & Drinks by Bega Cheese completed

Bega Cheese Limited (ASX:BGA) “Bega” is pleased to confirm that the acquisition of Lion Dairy & Drinks business has completed today.

Bega’s Executive Chairman, Mr Barry Irvin said, “Today is a significant day in the history of Bega, the acquisition of Lion Dairy & Drinks doubles the size of the company with revenue of $3 billion and brings together great brands including Bega Cheese, Vegemite, Dare, Farmers Union, Dairy Farmers, Yoplait, B honey, Big M, Masters, Juice Brothers and Berri. This goal of creating a great Australian food company with the capacity to service our customers in Australia and around the world took a major step forward today.”

25 January 2021

For further information please contact

Barry Irvin Executive Chairman Bega Cheese Limited ABN 81 008 358 503 www.begacheese.com.au

02 6491 7720