The board of directors of China Mengniu Dairy Company Limited announced that with effect from 26 March 2014, Mr. WU Jingshui (Mr. Wu) will resign from his role as an executive director of the company and a member of the strategy and development committee of the company (the Strategy and Development Committee), Mr. MA Jianping (Mr. Ma) will resign from his role as a non-executive director of the company and the chairman of the Strategy and Development Committee, Mr. Andrew Y. YAN (Mr. Yan) will resign from his role as an independent non-executive director of the company and Mr. Liu Fuchun (Mr. Liu) will resign from his role as an independent non-executive director of the company and a member of each of the remuneration committee, the nomination committee and the audit committee of the company. Mr. Wu will remain as Vice President of the company. The Board announced the appointment of Dr. LIAO Jianwen (Dr. Liao) as an independent non-executive director with effect from 26 March 2014.

Dr. LIAO Jianwen is an Associate Dean and Professor of Managerial Practice, Strategy, Innovation and Entrepreneurship at the Cheung Kong Graduate School of Business. The Board announced the appointments of Mr. Julian Juul Wolhardt (Mr. Wolhardt) as a member of each of the Nomination Committee and the Audit Committee, and Dr. Liao as a member of the Remuneration Committee, all with effect from 26 March 2014. The Board also announced the re-designation of Mr. Jiao Shuge (alias JIAO Zhen) (Mr.Jiao) as the chairman of the Strategy and Development Committee, and the appointments of Mr. Yu Xubo (Mr. Yu), Mr. Finn S. Hansen (Mr. Hansen), Mr. Christian Neu (Mr. Neu) and Dr. Liao as members of the Strategy and Development Committee, all with effect from 26 March 2014.