Launch of Share Buyback Programme

12 November 2024

LEI: 635400TLVVBNXLFHWC59

KERRY GROUP PLC

Regulatory Announcement

KERRY GROUP PLC ANNOUNCES €300m SHARE BUYBACK PROGRAMME

On 24 October 2024, Kerry Group plc ("Kerry" or the "Company") announced its intention to launch a new 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 instructions with J&E Davy ("Davy") 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 on 12 November 2024 and will end no later than 30 June 2025, subject to shareholders approving the customary share buyback resolution at the 2025 AGM. All Shares will be purchased by Davy on the Company's behalf (on a riskless principal basis) on Euronext Dublin for subsequent repurchase by the Company on Euronext Dublin.

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 authority granted at Kerry's Annual General Meeting on 2 May 2024 and any renewal of that authority. The maximum number of Shares that may be purchased under the Buyback Programme is 17,347,949 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 7:30 am on the business day following the calendar day on which the repurchase occurred.