China Mengniu Dairy Company Limited (SEHK:2319) commences share repurchases on June 7, 2023, under the program mandated by the shareholders in the Annual General Meeting on held on June 6, 2023. As per the mandate, the company is authorized to repurchase up to 395,051,406 shares, representing 10% of its issued share capital. Any repurchase will be made out of funds which are legally available for the purpose accordance with Cayman Islands law and the Company's memorandum and articles of association.

The purpose of this repurchase program is to enhance the net asset value and/or the earnings per share of the company. This program will be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by its bye-laws to be held or the passing of an ordinary resolution by its shareholders in general meeting revoking or varying the authority given to its directors by this resolution. As of June 6, 2023, the company had 3,950,514,068 shares outstanding.