January 28, 2021

Salada Foods Jamaica Limited (SALF) has advised that its Board of Directors has considered and approved the following resolutions:

1. THAT the maximum number of shares that the Company is entitled to issue be increased from 500,000,000 shares of no par value to 1,500,000,000 shares by the creation of an additional 1,000,000,000 ordinary shares of no par value each ranking pari pasu in all respects with the existing ordinary shares or stock units in the capital of the Company.

2. THAT each of the issued ordinary shares in the capital of the Company be subdivided into 10 ordinary shares with effect from the close of business on Wednesday March 31, 2021 resulting in the total issued share capital of the Company being increased from 103,883,290 ordinary shares of no par value to 1,038,832,900 ordinary shares of no par value.

3. THAT all the shares in the Company which are not yet issued be and are hereby converted into stock units when issued and fully paid.

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