SUNMOON FOOD COMPANY LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No. 198304656K)

UPDATES TO SHAREHOLDERS

Unless otherwise defined, capitalised terms used herein shall bear the same meaning as ascribed to them in the 10 June Update Announcement (as defined below).

The Board of Directors (the "Board") of SunMoon Food Company Limited (the "Company" and its subsidiaries, the "Group") refers to the announcements made by the Company dated 28 October 2020,

4 February 2021, 10 February 2021 ("10 Feb 2021 Update Announcement"), 10 June 2021 ("10 June Update Announcement") and 14 July 2021. For a more complete background, Shareholders are advised to refer to the abovementioned Company's announcements.

The Board wishes to inform Shareholders that SMF Shanmai had entered into a second supplemental agreement with SSMY on 16 July 2021 ("SMF Shanmai 2nd AR Supplemental") to further supplement and vary the repayment schedule in the manner as set out below:

Date of repayment

Amount (RMB)

By 31 March 2021

2,283,795

By 30 April 2021

1,500,000

By 16 July 2021

3,000,000

By 31 July 2021

1,500,000

Sub-total

8,283,795

In accordance with the above repayment schedule, the Board is pleased to announce that SMF Shanmai had received the repayment amount of RMB3,000,000.

As at the date of this announcement, Shareholders are to note that SMF Shanmai had already received RMB6,783,795 out of RMB8,283,795. For the avoidance of doubt, the outstanding amount based on the repayment schedule is RMB1,500,0000.

There are no changes to the clause in relation to the purchase of account receivables of RMB 11,928,944, which will be paid to SMF Shanmai within ten (10) working days from the date of Total Aug 2020 Repayment (as defined in the 10 Feb 2021 Update Announcement).

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company. The Company will make the necessary announcements as and when there are material developments on this matter. Shareholders of the Company and potential investors are advised to read all announcements by the Company carefully and to consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.

BY ORDER OF THE BOARD

SUNMOON FOOD COMPANY LIMITED

James Prideaux

Chairman and Lead Independent Director

16 July 2021

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Sunmoon Food Company Limited published this content on 16 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2021 14:46:08 UTC.