Announcement by ARYZTA AG: Statement from the Board of Directors regarding share price movement and speculation.

News Release

ARYZTA notes recent share price movement and speculation regarding the sale of its stake in Picard.

ARYZTA announced on 13 March 2017 that it is undertaking a range of measures which include the appointment of a new senior executive team, a review of its core business activities and an evaluation of the alternatives for its 49% shareholding in Picard.

The Board, consistent with its obligations as a listed company, would announce any substantive change or key business development to the market as a whole at the earliest practicable opportunity.

ARYZTA reiterates that its financial and operational focus is on cash generation. On 13 March, ARYZTA advised that, given the pace of management transition and the extent of operational reviews underway, it was not in a position to provide guidance and that remains the position at this time. Accordingly, prior guidance should not be relied upon.

ARYZTA will issue a Q3 revenue update on 30 May 2017.

Investor Enquiries:

Paul Meade, Communications Officer, ARYZTA AG Tel: +41 (0) 44 583 42 00

info@aryzta.com

Media Enquiries:

Mark Kenny/Jonathan Neilan, FTI Consulting Tel: +353 (0) 1 663 3881 / 3686

mark.kenny@fticonsulting.com / jonathan.neilan@fticonsulting.com

About ARYZTA

ARYZTA AG ('ARYZTA') is a global food business with a leadership position in speciality bakery. ARYZTA is based in Zurich, Switzerland, with operations in North America, South America, Europe, Asia, Australia and New Zealand. ARYZTA has a primary listing on the SIX Swiss Exchange and a secondary listing on the ISE Irish Exchange

(SIX: ARYN, ISE: YZA).

This document contains forward looking statements which reflect management's current views and estimates. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments.