• A possible cash offer is being prepared for China Shengmu Organic Milk, targeting all issued shares not already owned or agreed to be acquired by China Modern Dairy and Start Great.
• The offer remains conditional on completion of share purchase agreements, which depend on conditions precedent being satisfied or waived by the long stop date.
• Approval from China Modern Dairy’s independent shareholders has been obtained at an extraordinary general meeting.
• Antitrust filings have been submitted to and accepted by China’s SAMR, and engagement is ongoing toward clearance.
• Aside from conditions referenced as paragraphs (d) and (e) in the earlier announcement, no other conditions precedent under the share purchase agreements have been satisfied or waived.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. China Modern Dairy Holdings Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260320-12060424), on March 20, 2026, and is solely responsible for the information contained therein.