This press release or the information contained therein is not being issued and may not be published or distributed in the United States of America, Canada, Australia or Japan and does not constitute an offer of securities for sale in such countries.

Bell Food Group Ltd publishes offer prospectus regarding public tender offer for Hügli Holding Aktiengesellschaft

26.02.2018, Ad hoc release pursuant to Art. 53 LR, Switzerland

As indicated in the pre-announcement of the offer on 15 January 2018 and the press release of 8 February 2018 Bell Food Group Ltd today publishes the offer prospectus regarding its public tender offer for all publicly held bearer shares in Hügli Holding Aktiengesellschaft (Hügli).

The offer prospectus as well as further publications of Bell Food Group Ltd in connection with the public tender offer are available on the website www.bellfoodgroup.com/publictenderoffer.

The main offer period will start on 13 March 2018 and is expected to end on 25 April 2018. The expected settlement date for the offer is the 25 May 2018.

Indicative time-table:

26 February 201Publication of offer prospectus
27 February 2018Start of cooling-off period
12 March 2018End of cooling-off period
13 March 2018Start of main offer period
Opening of the second trading line on SIX Swiss Exchange for tendered bearer shares in Hügli
10 April 2018Expected publication of annual report of Hügli
25 April 2018, 4:00 p.m. CESTEnd of main offer period*
26 April 2018Provisional notice of the interim results of the offer*
02 May 2018Definitive notice of the interim results of the offer*
03 May 2018Start of additional acceptance period*
17 May 2018, 4:00 p.m. CESTEnd of additional acceptance period*
Closing of the second trading line on SIX Swiss Exchange for tendered bearer shares in Hügli
18 May 2018Provisional notice of the end results of the offer*
24 May 2018Definitive notice of the end results of the offer*
25 May 2018Settlement of the offer*

* Bell Food Group Ltd reserves the right to extend the main offer period once or several times, in which case the above dates will be deferred accordingly. In addition, Bell Food Group Ltd reserves the right to postpone the settlement of the offer.

Do you have any questions?

Head of Corporate Marketing / Communication

Davide Elia

+41 58 326 3030 media@bellfoodgroup.com

Project Manager Corporate Communication

Jan Kirchhofer

+41 58 326 3030 media@bellfoodgroup.com