Capital reduction of a subsidiary (CJ Foods America Holdings Corp.)

2019-06-13

1. Shares to be reduced: 319,200 common shares

2. Face value: KRW 1,181,700

3. Paid-in capital: KRW 1,389,679.2 million (before), KRW 1,012,480.56 million (after)

4. Number of shares: 1,176,000 (before), 856,800 (after)

5. Capital reduction ratio: 27.14%

6. Base date: Jun. 13, 2019

7. Purpose: Achieving managerial goals

8. Date of resolution by the BOD: Jun. 13, 2019

9. Others
   With the aim of acquiring Schwan’s Company, a US-based food company, CJ CheilJedang has established local SPCs - CJ Foods America Holdings Corp., CJ Foods America Corp., CJ Foods Corp., and CJ Foods DE Corp. The acquisition was completed in Feb. 25, 2019. In that process, CJ CheilJedang attracted Bain Capital as a financial investor and signed a contract to transfer 27.14% ownership of CJ Foods America Holdings Corp. to the investor. For the contract, CJ Foods America Holdings Corp. plans to decrease capital by capitalizing on the transfer amount of around USD 319.2 million. There is no change in ownership of CJ Foods America Holdings Corp. as the company is wholly-owned subsidiary of CJ CheilJedang. The figures above are based on the exchange rate as of Jun. 13, 2019 (KRW 1,181.7/USD).

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