Kerry Launches EUR300m Share Buyback Programme

1 November 2023

LEI: 635400TLVVBNXLFHWC59

KERRY GROUP PLC

Regulatory Announcement

KERRY GROUP PLC LAUNCHES €300m SHARE BUYBACK PROGRAMME

On 26 October 2023, Kerry Group plc ("Kerry" or the "Company") announced its intention to launch a share buyback programme of up to €300 million (the "Buyback Programme"). The Buyback Programme is underpinned by the Group's strong balance sheet and cash flow and is aligned to Kerry's Capital Allocation Framework.

Kerry announces that, pursuant to the Buyback Programme, it has entered into non-discretionary arrangements with J&E Davy and Goldman Sachs International (the "Banks") to purchase up to €300 million of Kerry's A Ordinary Shares of €0.125 each (the "Shares") on its behalf, and to make trading decisions under the Buyback Programme independently of Kerry in accordance with certain pre-set parameters.

The Buyback Programme will commence today, 1 November 2023 and will end no later than 30 April 2024. All Shares will be purchased by the Banks on the Company's behalf (on a riskless principal basis) on Euronext Dublin for subsequent repurchase by the Company on Euronext Dublin or the London Stock Exchange.

The purpose of the Buyback Programme is to reduce the share capital of the Company and as such, the Company will cancel any Shares repurchased.

The Buyback Programme will be carried out within certain pre-set parameters and within the limitations of the share buyback authority granted at Kerry's Annual General Meeting on 27 April 2023 and any renewal of that authority. The maximum number of Shares that may be purchased under the Buyback Programme is 17,707,452 Shares.

The Buyback Programme will be conducted in accordance with the relevant provisions of the Market Abuse Regulation 596/2014/EU ("MAR" and including MAR as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019) and the Commission Delegated Regulation (EU) 2016/1052 (including as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) as well as the rules of the Central Bank of Ireland.

Any repurchase of Shares will be announced no later than 7:30am on the business day following the calendar day on which the repurchase occurred.