Nissin Foods : Signing of Share Purchase Agreement to Acquire Additional Shares in Premier Foods plc

May 25, 2022

Koki Ando

President and Representative Director, CEO

Signing of Share Purchase Agreement

to Acquire Additional Shares in Premier Foods plc

On May 24, 2022, Nissin Foods Holdings Co., Ltd. (President & Representative Director CEO, Koki Ando; "Nissin") entered into an agreement to acquire 3.9% of shares in Premier Foods plc ("Premier Foods") from Oasis Investments II Master Fund Ltd. (the "Acquisition").

Nissin and Premier Foods entered into a strategic alliance in March 2016 and have since built on our respective strengths to collaborate on various fronts. For example, Nissin has leveraged Premier Foods' capabilities to distribute Cup Noodles, Soba, and other brands produced and sold for the UK & European markets, and Nissin has co-developed and co-manufactured Premier Foods' Batchelors Super Noodles pots products. The Acquisition is intended to further strengthen the existing strategic relationship and to contribute to continued value creation at both the Nissin Foods Group and Premier Foods.

Upon completion of the Acquisition, Premier Foods is expected to be treated as an equity method affiliate of Nissin for accounting purposes. Financial impact on Nissin's consolidated earnings from the Acquisition is still under review, and additional disclosure will be made if deemed required.

Details of the Transaction:

1.	Number of shares acquired	33,550,000 shares
2.	Percentage of shares acquired	3.9% *
3.	Total percentage of shares to be held	22.9% *
	upon completion of the Acquisition

* Based on 862,999,357 ordinary shares outstanding as at 2022/4/30.