Nissin Foods : VOLUNTARY ANNOUNCEMENT PROPOSED INVESTMENT IN INSTALLATION OF NEW PRODUCTION FACILITIES IN HONG KONG

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Nissin Foods Company Limited

日 清 食 品 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(STOCK CODE: 1475)

VOLUNTARY ANNOUNCEMENT

PROPOSED INVESTMENT IN INSTALLATION

OF NEW PRODUCTION FACILITIES

IN HONG KONG

This announcement is made by Nissin Foods Company Limited (the ''Company'', together with its subsidiaries, the ''Group'') on a voluntary basis to inform its shareholders of the Company and potential investors of the latest business development of the Group regarding the proposed investment in installation of new production facilities in Hong Kong.

The board of directors of the Company (the ''Board'') is pleased to announce that the Company would invest approximately HK$194 million in consolidation of production facilities and investment in installation of new smart production lines (the ''Proposed Investment'') in production plants located at Tai Po Industrial Estate, Tai Po, New Territories, Hong Kong. The Company regularly reviews its asset utilisation and efficiency of its production facilities. The installation of new smart production lines would equip with the advanced production technologies and incorporate state of the art automation for achieving enhancement in productivity and management efficiency and better quality control. The consolidation of production facilities also allows for a flexible manufacturing system with an ability to produce a variety of products and provides additional areas for warehousing. The construction period of the Proposed Investment would complete by 2023.

The Board believes that the Proposed Investment is in line with the Company's business development strategy to maintain its leadership position in Hong Kong. The Company is committed to investing in a variety of businesses to keep up with the sustainable growth. The integration of the advanced technology into the manufacturing process can reduce the cost of production in the long run.

As each of the applicable percentage ratios (as defined under Rule 14.07 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'')) in respect of the Proposed Investment is below 5%, the Proposed Investment does not constitute notifiable transaction of the Company under Chapter 14 of the Listing Rules.

By order of the Board

Kiyotaka Ando

Chief Executive Officer and Executive Director

Hong Kong, 11 May 2021

As at the date of this announcement, Executive Directors are Mr. Kiyotaka Ando, Mr. Toshimichi Fujinawa, Mr. Shinji Tatsutani, Mr. Kazuo Kawasaka and Mr. Munehiko Ono; and Independent Non- executive Directors are Dr. Sumio Matsumoto, Mr. Junichi Honda, Professor Lynne Yukie Nakano and Mr. Toshiaki Sakai.