Press releases

• The spin-off will proceed and the record date of the Global Brands Group will be July 7, 2014
• Bruce Rockowitz will officially resign from the Group and start full time as the CEO of the Global Brands Group on July 7, 2014
• Spencer Fung will become the new CEO of Li & Fung on July 7, 2014

Hong Kong, July 1, 2014 – Following a meeting of its Board of Directors (“the Board”) today, Li & Fung Limited (“Li & Fung,” “the Group,” or “the Company,” SEHK: 494), the world’s leading multinational consumer goods sourcing, logistics, and distribution group, announced that it is proceeding to the completion of the listing of the Global Brands Group shares on the Main Board of The Stock Exchange of Hong Kong Limited (“Stock Exchange”) on July 9, 2014.

The Board’s approval follows the issue of the Global Brands Group’s Listing Document on June 26, 2014. The Board declared a conditional distribution in specie of all the issued shares of the Global Brands Group (the “Conditional Distribution”) and the record date and book closure date for ascertaining the entitlements will be on July 7, 2014.

Bruce Rockowitz will officially resign from the Group as Group President and CEO and start full time as CEO of the Global Brands Group on July 7, 2014, while Spencer Fung will become the new CEO of Li & Fung on the same day.

The expected timetable for the listing is as follows:

• Last day of dealings in the Company’s shares on a cum entitlement basis: Wednesday, July 2, 2014
• First day of dealings in the Company’s shares on an ex entitlement basis: Thursday, July 3, 2014
• Latest time for lodging transfers of the Company’s shares cum entitlement to the Global Brands Group Shares pursuant to the Conditional Distribution: 4:30 p.m. on Friday, July 4, 2014
• Record Date and Book Closure Date: Monday, July 7, 2014
• Dealings in the Global Brands Group Shares on the Stock Exchange are expected to commence on Wednesday, July 9, 2014