Bakkavor Regulatory News (BAKK)

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

Bakkavor Group plc, company number 10986940

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

Carrion Enterprises Ltd.

City and country of registered office (if applicable)

Tortola, British Virgin Islands

Name

Umbriel Ventures Ltd.

City and country of registered office (if applicable)

Tortola, British Virgin Islands

Name

Milu Trading Inc.

City and country of registered office (if applicable)

Tortola, British Virgin Islands

4. Full name of shareholder(s) (if different from 3.)v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reachedvi:

07.12.2017

6. Date on which issuer notified (DD/MM/YYYY):

07.12.2017

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuervii

Carrion Enterprises Ltd.

Resulting situation on the date on which threshold was crossed or reached

25.1% (directly)

0%

25.1% (directly)

579,425,585

Position of previous notification (if

applicable)

25.1% (indirectly)

0%

25.1% (indirectly)

579,425,585

Umbriel Ventures Ltd.

Resulting situation on the date on which threshold was crossed or reached

25.1% (directly)

0%

25.1% (directly)

579,425,585

Position of previous notification (if

applicable)

25.1% (indirectly)

0%

25.1% (indirectly)

579,425,585

Milu Trading Inc.

Resulting situation on the date on which threshold was crossed or reached

0%

0%

0%

579,425,585

Position of previous notification (if

applicable)

50.2% (directly)

0%

50.2% (directly)

579,425,585

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Carrion Enterprises Ltd.

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Ordinary shares

GB00BF8J3Z99

145,333,130

0

25.1%

0%

SUBTOTAL 8. A

145,333,130

25.1%

Umbriel Ventures Ltd.

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Ordinary shares

GB00BF8J3Z99

145,333,130

0

25.1%

0%

SUBTOTAL 8. A

145,333,130

25.1%

Milu Trading Inc.

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Ordinary shares

GB00BF8J3Z99

0

0

0%

0%

SUBTOTAL 8. A

0

0%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash

settlementxii

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)

X

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Agust Gudmundsson

25.1% (indirectly)

0%

25.1% (indirectly)

The A.G. Trust

25.1% (indirectly)

0%

25.1% (indirectly)

Carrion Enterprises Ltd.

25.1% (directly)

0%

25.1% (directly)

Lydur Gudmundsson

25.1% (indirectly)

0%

25.1% (indirectly)

The L.G. Trust

25.1% (indirectly)

0%

25.1% (indirectly)

Umbriel Ventures Ltd.

25.1% (directly)

0%

25.1% (directly)

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Step 3 of 3 to separate Agust and Lydur Gudmundsson's indirect holding of Bakkavor Group plc shares into their respective corporate structure. In this step, Milu Trading Inc. was removed from the structure.

Place of completion

British Virgin Islands

Date of completion

07.12.2017