China Mengniu Dairy : Mengniu’s MSCI ESG Rating Upgraded to “A”

[Press Release]

Mengniu's MSCI ESG Rating Upgraded to "A"

(Hong Kong, 26 October 2022) China Mengniu Dairy Company Limited ("Mengniu" or the "Group", HKEX: 2319), a leading dairy product manufacturer in China, is glad to announce that MSCI Inc. ("MSCI"), one of the largest index companies in the world, has published a new rating report and upgraded Mengniu's ESG (environment, social and governance) Rating from "BBB" to "A", which is the highest in the food industry of China, reflecting the market's recognition of the Company's performance in ESG.

MSCI stated in the report that Mengniu demonstrated efforts to manage water usage, including water reduction initiatives and water risk assessments. Moreover, Mengniu outperforms industry average in handling packaging material and waste, as well as grasping the opportunities in nutrition and health. The report pointed out that, Mengniu's product quality policies include multiple best practices, in particular certifying all its manufacturing facilities to safety and quality standard, which help it navigate the government's new food quality regulations. Also, Mengniu is one of the few food companies in China that have a strategy for healthy product development, making it better-prepared for sugar reduction demand in the market and related regulations.

MSCI provides in-depth research, ratings and analysis of the environmental, social and governance-related business practices to companies worldwide. As one of the most widely adopted tools by institutional investors, MSCI ESG Rating measures a company's resilience to long-term, industry material ESG risks, with an aim to help investors identify ESG performance of companies, which may flag opportunities or risks not captured by conventional financial analysis.

Mr. Lu Minfang, Chief Executive Officer of Mengniu, said, "Mengniu will continue to pursue low-carbon, inclusive and sustainable development, proactively improve the efficiency in the use of resources, and establish green production mechanism. Meanwhile, Mengniu will share its experience extensively, promote the practice of social responsibility and ecological protection among its industry partners, to jointly facilitate GREEN sustainable transformation and promise a healthier world"

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Mengniu's MSCI ESG Rating Upgraded to "A" 26 October 2022

About China Mengniu Dairy Company Limited

China Mengniu Dairy Company Limited and its subsidiaries mainly manufacture and distribute quality dairy products in China. It is one of the leading dairy product manufacturers in China, with MENGNIU as its core brand. Mengniu offers diversified products including liquid milk products, ice cream, milk formula and cheese. Mengniu ranked at the 7th in "Global Dairy Top 10" in 2022, and placed 26th on BrandZ™'s list of most valuable Chinese brands. Mengniu's brand value grew by 15% year-on-year, ranking first in China's dairy industry and was the only Chinese FMCG brand with double-digit growth. Mengniu also made it again among Brand Finance's list of the top 500 most valuable brands of the world. As at the end of June 2022, the Group's annual dairy production capacity reached 12.74 million tons. In March 2014, Mengniu became a Hang Seng Index constituent, making it the first blue chip Chinese dairy product manufacturer. In March 2022, Mengniu was included as a constituent of HSI ESG Enhanced Index and HSI ESG Enhanced Select Index. For more information, please visit www.mengniuir.com.

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