Labixiaoxin Snacks Group Limited — Capital/Financing Update 2014

Apr 28, 2014

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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LABIXIAOXIN SNACKS GROUP LIMITED 蠟筆小新休閒食品集團有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 1262)

VOLUNTARY ANNOUNCEMENT RELATING TO THE WAIVER AND CONSENT IN CONNECTION WITH THE FACILITY AGREEMENT

This voluntary announcement is made by Labixiaoxin Snacks Group Limited (the “ Company ”, together with its subsidiaries, the “ Group ”).

Reference is made to the announcements of the Company dated 25 February 2013, 24 March 2014 and 31 March 2014 (the “ Announcements ”). Unless otherwise stated, capitalised terms used herein shall have the same meanings as defined in the Announcements.

The Facility Agreement provides, among other things, that (i) the Company shall deliver to the facility agent in sufficient copies for all the Lenders, the audited accounts and the annual results announcement of the Company within three months after the end of each financial year of the Company (the “ Audited Information Undertakings ”); and (ii) it will be an event of default under the Facility Agreement if trading in the shares of the Company on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) are suspended for a period of more than 15 consecutive days.

The trading in the shares of the Company has been suspended since 24 March 2014 (the “ Suspension ”) and as stated in the Announcements, additional time is required by the auditors of the Company to finalise the 2013 Audited Accounts and the 2013 Annual Results Announcement has not been published as at the date of this announcement. Accordingly, the Company had failed to comply with the Audited Information Undertakings and the Suspension constituted a potential event of default under the Facility Agreement (the “ Potential Event of Default ”). In view of the aforesaid, the Company had proactively delivered a request (the “ Request ”) to the facility agent under the Facility Agreement to request the lenders to the Facility Agreement (the “ Lender(s) ”) (i) to waive the breach of the Audited Information Undertakings; and (ii) to waive and consent that the Potential Event of Default will not be treated as such and the continued suspension from trading in the shares of the Company on the Stock Exchange will not constitute an event of default under the Facility Agreement (the “ Waiver and Consent ”). In consideration of the Waiver and Consent, the Company agreed (i) to pay to each consenting Lender, a fee of 0.5% of the respective commitment of each consenting Lender (the “ Consent Fee ”); and (ii) to deposit the first instalment of the Facility in the amount of US$11,250,000.00 (the “ First Instalment ”) at the debt service reserve account of the Company on or before 16 May 2014 (the “ Reserve Account ”), which would be applied towards the repayment of the Facility.

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As at the date of this announcement, the Company had obtained a waiver and consent from the requisite number of Lenders as required under the Facility Agreement, subject to the conditions that the Company shall (i) publish the 2013 Annual Results Announcement on or before 30 June 2014; (ii) publish the 2013 Audited Accounts on or before 31 July 2014; and (iii) resume trading on or before 30 June 2014.

As at the date of this announcement, the Company had paid the Consent Fee to each consenting Lender and the Company had deposited the First Instalment at the Reserve Account. The board of directors of the Company believed that there would not have a significant impact on the Group’s financial position and operation conditions.

By order of the Board Labixiaoxin Snacks Group Limited Zheng Yu Long Chairman

Hong Kong, 28 April 2014

As at the date of this announcement, the executive directors of the Company are Zheng Yu Long, Zheng Yu Shuang and Zheng Yu Huan; the non-executive director of the Company is Li Hung Kong; and the independent non-executive directors of the Company are Li Zhi Hai, Sun Kam Ching and Chung Yau Tong.

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