COFCO Joycome Foods : PROPOSED CHANGE OF AUDITOR

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01610)

PROPOSED CHANGE OF AUDITOR

This announcement is made by the board of directors (the "Board") of COFCO Joycome Foods Limited (the "Company") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board hereby announces that Deloitte Touche Tohmatsu ("Deloitte"), the current auditor of the Company, will retire as the auditor of the Company upon the conclusion of the forthcoming annual general meeting of the Company (the "AGM") when its current term of office expires. In order to comply with certain regulations of the People's Republic of China in respect of the limits on the continuous service term of an auditor, the Company and Deloitte have agreed not to renew such appointment.

Deloitte has confirmed in writing to the Board that there is no matter in relation to its retirement that needs to be brought to the attention of the shareholder(s) (the "Shareholder(s)") or creditors of the Company. The Board and the audit committee of the Company (the "Audit Committee") also confirmed that there is no disagreement between Deloitte and the Company, nor is there any other matter concerning Deloitte's retirement as the auditor of the Company that needs to be brought to the attention of the Shareholders.

The Board would like to take this opportunity to extend sincere gratitude to Deloitte for the high-quality professional services provided to the Company in the past years.

1

As discussed and agreed by the Audit Committee, the Board has unanimously resolved to appoint Baker Tilly Hong Kong Limited ("Baker Tilly Hong Kong") as the auditor of the Company for the financial year ending December 31, 2021 for a term from the conclusion of the AGM until the conclusion of the next annual general meeting of the Company, and propose that the Shareholders approve such auditor appointment and authorise the Board to fix the remuneration of the auditor at the AGM. Baker Tilly Hong Kong is a branch of Baker Tilly China Certified Public Accountants, which is an accounting firm responsible for the overall audit of the final accounts of COFCO Corporation.

The proposed change of auditor is subject to the approval of the Shareholders at the AGM. A circular containing, among others, the proposed change of auditor as well as the notice of AGM will be despatched to the Shareholders in due course.

By order of the Board

COFCO Joycome Foods Limited

Jiang Guojin

Chairman and executive director

Beijing, PRC, May 10, 2021

As at the date of this announcement, the Board comprises Mr. Jiang Guojin as the chairman of the Board and an executive director, Mr. Xu Jianong as an executive director, Ms. Yang Hong, Dr. Cui Guiyong and Mr. Zhou Qi as non-executive directors, and Mr. Fu Tingmei, Mr. Li Michael Hankin and Dr. Ju Jiandong as independent non-executive directors.

2