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Fan Milk Limited Ghana (FML) hereby announces that the Abraaj Group (Abraaj), has entered into a conditional agreement to acquire the entire issued share capital of Fan Milk International (FMI). FMI is the majority shareholder of FML.

Upon the completion of the purchase of FMI, FMI will continue to be the majority shareholder of FML but Abraaj will indirectly acquire effective control of FML through its control of the 65,822,250 voting shares of FML (representing 56.64% of the equity of FML) that are owned by FMI.

Abraaj has made an application to the Securities and Exchange Commission (SEC) for an exemption, under the Code on Takeovers and Mergers, from the equirement to make a mandatory takeover offer for the remaining shares of Fan Milk Limited. The completion of the transaction is conditional upon the grant of an exemption by the SEC.

Abraaj is a private equity investor operating in the developing and growth markets of Africa, Asia, Latin America and the Middle Eat. FMI has holdings in FML, Emidan A/S, Fan Milk Nigeria, Fan Milk Togo, Fan Milk Code D’Ivoire, Fan Milk Benin, Fan Milk Burkina Faso, Abebe Adewara Ventures and Fan Milk Liberia.

Issued at Accra, this 19th
day of June 2013.