General Announcement::UPDATES TO SHAREHOLDERS

SUNMOON FOOD COMPANY LIMITED

Registration No. 198304656K

UPDATES TO SHAREHOLDERS

Unless otherwise defined, capitalised terms used herein shall bear the same meaning as ascribed to them in the 10 June 2021 Announcement (as defined below).

The Board of Directors (the "Board") of SunMoon Food Company Limited (the "Company" and its subsidiaries, the "Group") refers to (i) the SGX-Net announcement made by the Company dated 10 February 2021; (ii) the SGX-Net announcement made by the Company dated 4 February 2021; (iii) the SGX-Net announcement made by the Company dated 28 October 2020; and (iv) the SGX-Net announcement made by the Company dated 10 June 2021 ("10 June 2021 Announcement"). For a more complete background, Shareholders may wish to refer to the aforesaid Company's announcements.

The Board wishes to update shareholders of the Company ("Shareholders") that SMF Shanmai has not received the tranche payment of RMB4,500,000 pursuant to the SMF Shanmai Purchase of AR Agreement (as varied and supplemental by the SMF Shanmai AR Supplemental). The Company is in the midst of negotiations with SSMY with respect to the above and will update Shareholders in due course.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company. The Company will make the necessary announcements as and when there are material developments on this matter. Shareholders of the Company and potential investors are advised to read all announcements by the Company carefully and to consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.

BY ORDER OF THE BOARD

James Prideaux

Chairman and Lead Independent Director

14 July 2021

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