China Mengniu Dairy : Announcements and Notices - Termination of the Share Purchase Agreement

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.

China Mengniu Dairy Company Limited	Yashili International Holdings Ltd
中 國 蒙 牛 乳 業 有 限 公 司 *	雅 士 利 國 際 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)	(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2319)	(Stock Code: 1230)
CONNECTED TRANSACTION	DISCLOSEABLE AND
DISPOSAL OF INTEREST IN	CONNECTED TRANSACTION
A SUBSIDIARY	DISPOSAL OF INTEREST IN
	A SUBSIDIARY

TERMINATION OF THE SHARE PURCHASE AGREEMENT

Reference is made to (1) the joint announcement of Mengniu Dairy and Yashili dated 14 December 2018 in relation to the proposed disposal of Share Interest in Yashili New Zealand by Yashili (HK) to the Purchaser pursuant to the Share Purchase Agreement (the ''Disposal''), and (2) the announcements of Yashili dated 10 January 2019, 28 February 2019, 10 May 2019 in relation to the delay in despatch of the circular in relation to the Disposal (the ''Announcements''). Unless otherwise stipulated, terms used in this joint announcement shall have the same meanings given to them in the Announcements.

Pursuant to the Share Purchase Agreement, the Share Purchase Agreement may be terminated at any time prior to Completion by the mutual written consent of Yashili (HK) and the Purchaser.

The Mengniu Board and the Yashili Board announce that on 30 August 2019, Yashili (HK) and the Purchaser have agreed in writing to terminate the Share Purchase Agreement with immediate effect (the ''Termination''). The Mengniu Board and the Yashili Board consider that the Termination (i) is in the interests of Mengniu Dairy and the Mengniu Shareholders as a whole, and Yashili and the Yashili

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Shareholders as a whole, respectively; (ii) would have no material adverse impact on the business operation and financial position of the Mengniu Group and the Yashili Group, and (iii) would not affect the existing and future cooperation between the Yashili Group and Danone.

* for identification purposes only
By order of the Mengniu Board	By order of the Yashili Board
China Mengniu Dairy Company Limited	Yashili International Holdings Ltd
中國蒙牛乳業有限公司*	雅士利國際控股有限公司
Jeffrey, Minfang Lu	Chopin Zhang
Chief Executive Officer and Executive Director	Chief Executive Officer and Executive Director
Hong Kong, 30 August 2019

As at the date of this joint announcement, the Mengniu Board comprises: Mr. Jeffrey, Minfang LU, and Mr. MENG Fanjie as executive directors, Mr. CHEN Lang, Mr. NIU Gensheng, Mr. Tim Ørting JØRGENSEN and Mr. Pascal DE PETRINI as non-executive directors, Mr. JIAO Shuge (alias Jiao Zhen), Mr. Julian Juul WOLHARDT, Mr. ZHANG Xiaoya and Mr. YAU Ka Chi as independent non-executive directors.

As at the date of this joint announcement, the Yashili Board comprises: Mr. Jeffrey, Minfang Lu (Chairman), Mr. Qin Peng, Mr. Zhang Ping and Mr. Gu Peiji (alias Philip Gu) as non-executive directors; Mr. Chopin Zhang as executive director; and Mr. Mok Wai Bun Ben, Mr. Cheng Shoutai and Mr. Lee Kong Wai Conway as independent non-executive directors.

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