Representatives of CITIC Agri Fund and A Veteran Specialized in Dairy Industry in ANZ Region Joined the Board of Directors, Enhances the development of the 'Golden Decade' of Ausnutria

Mr. Shi, is currently a director, general manager and a member of the fund investment committee of the CITIC Agri Fund Management Co., Ltd. ("CITIC Agri Fund"), a substantial Shareholder. Mr. Shi joined CITIC Securities Company Limited ("CITIC Securities", stock code: 6030.HK and 600030.SH) in 2008. He once served as the senior manager of the research department, the chief analyst in agriculture, forestry, animal husbandry and fishery industries and the director of the research department of CITIC Securities.

Mr. Qiao is currently the deputy general manager and chairman of the investment committee of CITIC Agri Fund. Mr. Qiao joined COFCO Corporation in 2006 and once served as the senior manager of the strategic investment management department, the head of the research department, the general manager of the strategic management department. Prior to joining COFCO, Mr. Qiao was engaged in the research in agriculture, food and beverage industry in China Galaxy Securities Co Ltd (stock code: 6881.HK) and CITIC Securities.

Mr. Colemam, has over 30 years of extensive experience in the manufacturing and marketing of consumer and food-service food and agricultural product. He is currently the managing director of Longpoint Consulting Pty. Ltd.("Longpoint"). Prior to joining Longpoint, Mr. Coleman was the chief executive officer of Bega Cheese Limited (stock code: BGA.ASX) until 2017. He was also the chief executive officer of Tatura Milk Industries Ltd. ("Tatura"), a wholly owned subsidiary of Bega Cheese Limited, from 2008 to 2011 and an executive director of Tatura from 2011 to 2017. Mr. Colemam was the managing director of Fonterra Brands (Australia) Pty. Ltd, an Australian company which manufactures, markets and distributes dairy and non-dairy products from 2005 to 2007.

Mr. Yan Weibin, Chairman of the Group, said "On behalf of the Board committees, I would like to express my sincere gratitude to Mr. Zeng and Ms. Ho for their valuable contribution to the Company during their tenure of services. In the meantime, extending my sincere welcome to the experienced two representatives of CITIC Agri Fund, and an expert in Dairy industry in ANZ region for joining us. The Company successfully introduced CITIC Agri Fund to become the single largest shareholder of the Company. The joining of Mr. Shi and Mr. Qiao to the Board demonstrated the great support and trust of CITIC Agri Fund to the Group, also the Company will be benefitted from the profession of Mr. Shi and Mr. Qiao. In addition, Mr. Colemam's know-how of the industry will definitely help the Group to achieve steady and rapid development. In particular, he will provide good guidance, support and supervision for the business development of the Company in Australia and New Zealand. As one of the leaders in the dairy industry, the Company will strive to provide the best products and services, and head towards the 'Golden Decade' of Ausnutria. At the same time, we will continue to explore the global market, strive for market and consumer recognition with our high-quality products, achieve ever-expanding growth. We dedicate to become the most trustworthy milk formula, nutrition and health-care enterprise in the world and provide better returns to shareholders."

About Ausnutria Dairy Corporation LtdAusnutria Dairy Corporation Ltd is a leading infant milk formula company with production facilities principally based in the Netherlands, Australia, New Zealand, and the PRC. The Company is engaged in the worldwide production, research, and sales of infant formula, adult milk and other dairy and nutrition products. It owns several famous infant formula and milk powder brands, including "Kabrita", "Allnutria" and "Hyproca". Ausnutria's factories in the PRC were among that first batch of factories that had been granted with the National Infant Formula Enterprise Production Permit. The factory in the Netherlands is also one of the first infant milk formula manufacturers to obtain import licenses for overseas products under the new policy in the PRC.

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