Earnings release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement , make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement . 萬 洲 國際 WH GROUP WH Group Limited 萬 洲 國際 有限公司 ( Incorporated in the Cayman Islands with limited liability ) ( Stock Code : 288 ) UNAUDITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 28 JUNE 2026 OF SMITHFIELD FOODS , INC . On 11 August 2026 after trading hours ( Hong Kong time ) , Smithfield released its interim report for the six months ended 28 June 2026 . Smithfield Foods , Inc. ( " Smithfield " ) is a company incorporated in the Commonwealth of Virginia , the United States of America ( the “ US ” ) , whose shares are listed on the Nasdaq Global Select Market since 28 January 2025 ( New York Time ) . As at the date of this announcement , WH Group Limited ( the “ Company ” ) indirectly owns approximately 86.9 % equity interest in Smithfield . On 11 August 2026 , Smithfield filed its interim report with the US Securities and Exchange Commission for the six months ended 28 June 2026 ( the “ Smithfield Interim Report ” ) . It is important to note that the unaudited consolidated financial results contained in the Smithfield Interim Report have been prepared in accordance with the accounting principles generally accepted in the US . The Company prepares its consolidated financial results in accordance with the IFRS Accounting Standards . Accordingly , Smithfield's results reported therein differ from Smithfield's results contained in the Company's consolidated financial statements , which include certain adjustments in order to conform to the IFRS Accounting Standards . -1-
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– 2 – SUMMARY OF RESULTS OF SMITHFIELD FOR THE SIX MONTHS ENDED 28 JUNE 2026 The unaudited consolidated statement of profit or loss and other comprehensive income for the six months ended 28 June 2026 and the unaudited consolidated statement of financial position as at 28 June 2026 contained in the Smithfield Interim Report are provided below: SMITHFIELD CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the six months ended 28 June 2026 Six Months Ended 28 June 2026 29 June 2025 US$’million US$’million (unaudited) (unaudited) Sales 7,500 7,558 Cost of sales 6,510 6,549 Gross profit 990 1,008 Selling, general and administrative expenses 371 465 Operating gains (4) (39) Operating profit 623 582 Interest expense, net 16 22 Non-operating (gains) losses (16) 2 Income before income taxes 623 558 Income tax expense 135 134 (Income) loss from equity method investments (2) 8 Net income 489 415 Net income attributable to noncontrolling interests 5 4 Net income attributable to Smithfield 484 412 Net income per common share attributable to Smithfield: Basic 1.23 1.05 Diluted 1.23 1.05
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– 3 – Six Months Ended 28 June 2026 29 June 2025 US$’million US$’million (unaudited) (unaudited) Weighted average shares outstanding: Basic 393,417,410 390,962,687 Diluted 395,284,096 391,410,859 Net income 489 415 Other comprehensive income (loss), net of tax: Foreign currency translation 15 45 Pension accounting 7 7 Hedge accounting (8) (17) Total other comprehensive income 14 35 Comprehensive income 503 451 Comprehensive income attributable to noncontrolling interests 10 19 Comprehensive income attributable to Smithfield 494 432
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– 4 – SMITHFIELD CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 28 June 2026 As at 28 June 2026 As at 28 December 2025 US$’million US$’million (unaudited) (audited) Current assets: Cash and cash equivalents 1,350 1,539 Accounts receivable, net 1,010 1,023 Inventories, net 2,380 2,328 Prepaid expenses and other current assets 267 276 Total current assets 5,006 5,166 Property, plant and equipment, net 3,211 3,226 Goodwill 1,625 1,623 Intangible assets, net 1,258 1,260 Operating lease assets 385 387 Equity method investments 213 209 Other assets 315 306 Total assets 12,014 12,177 Current liabilities: Accounts payable 461 856 Current portion of long-term debt and finance lease obligations 602 3 Current portion of operating lease obligations 73 71 Accrued expenses and other current liabilities 818 811 Total current liabilities 1,954 1,741 Long-term debt and finance lease obligations 1,402 2,000 Long-term operating lease obligations 319 322 Deferred income taxes, net 631 658 Net long-term pension obligation 206 207 Other liabilities 187 185 Redeemable noncontrolling interests 311 264
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– 5 – As at 28 June 2026 As at 28 December 2025 US$’million US$’million (unaudited) (audited) Equity: Shareholder’s equity: Preferred stock, no par value; 100,000,000 shares authorised; no shares issued and outstanding — — Common stock, no par value; 5,000,000,000 shares authorised; 393,760,231 shares issued and outstanding as of 28 June 2026 and 393,112,711 shares issued and outstanding as of 28 December 2025 — — Additional paid-in capital 3,296 3,338 Retained earnings 4,012 3,776 Accumulated other comprehensive loss (304) (314) Total shareholder’s equity 7,004 6,801 Total liabilities and equity 12,014 12,177 If you wish to view the Smithfield Interim Report in full, please visit www.sec.gov. By order of the board of directors of WH Group Limited Wan Long Chairman Hong Kong, 11 August 2026 As at the date of this announcement, the executive directors of the Company are Mr. WAN Long, Mr. GUO Lijun, Mr. WAN Hongwei and Mr. MA Xiangjie; the non-executive director of the Company is Mr. JIAO Shuge; and the independent non-executive directors of the Company are Mr. HUANG Ming, Mr. LAU, Jin Tin Don and Ms. ZHOU Hui.