WH : Subsidiary Smithfield Issues US$1.4 Billion of Senior Notes

[For Immediate Release] WH Group Subsidiary Smithfield Issues US$1.4 Billion of Senior Notes

Hong Kong, February 2, 2017 - WH Group Limited ("WH Group" or the "Company"; HKEX: 288), the world's largest pork company, is pleased to announce today that Smithfield Foods, Inc. ("Smithfield"), an indirect wholly-owned subsidiary of the Company, completed the issue of new notes (the "Notes") with an aggregate principal amount of US$1.4 billion on February 1, 2017 (U.S. Eastern Standard Time).

The Notes consist of three tranches, which are US$400 million of 2.70% senior notes due in 2020, US$400 million of 3.35% senior notes due in 2022 and US$600 million of 4.25% senior notes due in 2027. The estimated net proceeds of the Notes, after deducting the initial purchasers' discounts and estimated offering expenses, will amount to approximately US$1,390.8 million. The Company intends to use the net proceeds to repurchase the existing 2017 Notes tendered, redeem all of the outstanding existing 2018, 2021 and 2022 Notes, as well as to pay premiums, fees, expenses and accrued and unpaid interest.

WH Group Chairman and Chief Executive Officer Mr. Wan Long said: "The Notes issue by Smithfield has been well-received by the international capital markets, which has reaffirmed that the overall strength and developmental strategy of the Company is widely recognized by the investors around the globe. The proceeds raised will further optimize the Company's debt structure and lower its borrowing costs. WH Group will strive to maintain a prudent financial management portfolio by diversifying its financing channels in order to deliver long-term and satisfactory returns to our shareholders."

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About WH Group Limited (HKEx stock code: 288)

WH Group Limited is the largest pork company in the world with the top market share in China, the U.S. and some markets in Europe. It owns many well-recognized and trusted brands and stands above the rest with global market leadership in all key segments of the pork value chain, including packaged meats, fresh pork and hog production. The Group conducts its operations through Henan Shuanghui Investment & Development Co., Ltd., the largest animal protein company in Asia, and Smithfield Foods, the largest pork company in the U.S. For more information, visit www.wh-group.com.

About Smithfield Foods

Smithfield Foods, a wholly owned subsidiary of WH Group Limited, is a global food company and the world's largest pork processor and hog producer. In the U.S., the company is also the leader in numerous packaged meats categories with popular brands including Smithfield®, Eckrich®, Farmland®, Armour®, Cook's®, John Morrell®, Gwaltney®, Nathan's Famous®, Kretschmar®, Margherita®, Curly's®, Carando® and Healthy Ones®. Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental and food safety and quality programs. For more information, visit www.smithfieldfoods.com and www.smithfieldfoods.com/responsible-operations.

Hill+Knowlton Strategies Renee Chen 2894 6232 [e-mail]

WH Group Luis Chein [phone] [e-mail]

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