Li & Fung Limited announced an invitation to each holder of the Notes to offer to purchase for cash its outstanding Notes for an aggregate principal amount of up to USD 172,485,000, upon the terms and subject to the conditions and for the consideration set forth in this announcement and described further in the Tender Offer Memorandum. Summaries of the material terms of the Offer are set out in this announcement. The Offer is being made upon the terms and subject to the conditions set forth in the tender offer memorandum dated 15 September 2023 prepared by the Company in relation to the Offer.

Holders should refer to the full terms and conditions of the Offer set out in the Tender Offer Memorandum. Capitalised terms used but not otherwise defined here shall have the same meaning given to them in the Tender Offer Memorandum. The following table sets forth the key terms of the Offer: Description of Notes: USD 600,000,000 4.50%.

Notes due 2025, Outstanding, Principal Amount: USD 522,485,000. Early Tender Consideration: USD 940.00. Maximum Acceptance Amount: Up to and including USD 172,485,000 in aggregate principal amount of the Notes.