NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW CAPITAL SECURITIES OR THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

Inside information: HKFoods considers the issuance of new capital securities and the redemption of its outstanding capital securities issued in 2018

HKFoods Plc (the "Company") contemplates the issuance of new unsecured hybrid capital securities (the "New Capital Securities") with an expected size of EUR 20 million (the "Issue"). The potential Issue is expected to take place in the near future, subject to market conditions. The New Capital Securities would not have specified maturity date, but the Company would have right to redeem the New Capital Securities for the first time on the third (3rd) anniversary of the issue date.

New Capital Securities are hybrid instruments that are subordinated to certain other debt obligations and are treated as equity in Company's consolidated financial statements prepared in accordance with IFRS. The New Capital Securities do not confer to its holders the rights of a shareholder and the New Capital Securities do not dilute the holdings of the current shareholders.

The net proceeds of the Issue would be used for general corporate purposes, particularly for refinancing the Existing Capital Securities (as defined below).

In addition, HKFoods considers exercising its optional redemption right in respect of its outstanding capital securities issued on 17 September 2018 (ISIN: FI4000348818) (the "Existing Capital Securities") in accordance with clause 7.5 (Redemption at the option of the Issuer) of the terms and conditions of the Existing Capital Securities. The issuing of a separate call notice for the redemption of the Existing Capital Securities would occur after the Issue of the New Capital Securities.

Nordea Bank Abp and OP Corporate Bank plc act as the joint lead managers in the potential Issue.

HKFoods Plc

Juha Ruohola

CEO

Further information:

Juha Ruohola, CEO, tel. +358 400 647 160
Mika Tilli, CFO, tel. +358 50 538 5793
HKFoods Media Service Desk tel. +358 10 570 5700 or communications@hkfoods.com

With 110 years of experience, we at HKFoods make life tastier - today and tomorrow. With 3,000 professionals, we make responsible and locally produced food to meet consumers' varied food moments. Our well-known brands in Finland are HK®, Kariniemen® and Via®. We are developing a more climate-friendly way of producing food. HKFoods is a publicly listed company, and in 2024, our net sales totalled EUR 1 billion. www.hkfoods.com

Distribution:

www.hkfoods.com

Nasdaq Helsinki

Main media

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Capital Securities or Existing Capital Securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The Existing Capital Securities or the New Capital Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of the New Capital Securities or the Existing Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Capital Securities or the Existing Capital Securities. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons in the United Kingdom that are qualified investor within the meaning of Article 2(e) of the Prospectus Regulation as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 that are also (a) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (b) high net worth entities, and (iii) other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.