DayDayCook (“DDC”), a leading content driven direct-to-consumer brand in China, today announces the addition of three new independent directors to its Board of Directors: Conor Chia-Hung Yang, Matthew Gene Mouw, and Sam Shih. DDC also appointed a new advisor, Malik Sadiq to its Advisory Board.

DDC Founder and CEO Norma Chu commented, “Conor, Matthew, Sam, and Malik are all experienced and respected veterans who will be instrumental in propelling our company to the next level and unlocking additional growth opportunities as we shape DDC’s future strategic direction. Each brings invaluable industry insights, product innovation, execution and management excellence to our team and we look forward to benefitting from their collaboration.”

Mr. Conor Chia-Hung Yang is a veteran CFO who has taken multiple Chinese TMT companies to successful U.S. listings. He is also an experienced audit committee chair for a number of U.S.-listed companies, including EHang (Nasdaq: EH) and I-Mab (Nasdaq: IMAB). Mr. Yang is a co-founder of Black Fish Technology Group Limited, and served as its president from November 2017 to February 2021. Prior to joining Black Fish, Mr. Yang was the Chief Financial Officer of Tuniu Corporation (Nasdaq: TOUR) from January 2013 to November 2017.

“Having the privilege of serving on the Boards of a number of successful Chinese companies that have been well-received by U.S. investors, I am excited for this latest opportunity to help guide DayDayCook through this next phase of its development. The company’s customer-centric, innovative approach to building brand awareness among Chinese millennials has enormous potential in the years to come,” said Mr. Yang.

Mr. Sam Shih has more than 30 years of corporate experience in China and Asia Pacific regions, having spent extensive time with PepsiCo and Redbull. Mr. Shih is currently a partner and Chief Operating Officer of OYO Hotel Company, a unicorn start-up backed by Softbank in China. Mr. Shih started his career and spent over two decades in PepsiCo Inc. During that time, he held various senior positions, including Chief Executive Officer of PepsiCo Investment (China) Limited and Vice President of Pepsi Beverage Business in China.

“Over my long tenure as a senior executive at PepsiCo China, I have had the opportunity to witness firsthand the enormous potential for building a brand that connects with the younger generation of Chinese consumers. I believe that the platform Norma and her colleagues have built at DayDayCook lays the foundation of what will become a household name in China,” commented Mr. Shih.

Mr. Matthew Gene Mouw has accumulated experience in general management, sales & marketing, international expansion, and M&A with global food brands during his career. Mr. Mouw served as Regional President Asia, Africa and Australia for Barilla SpA from March 2011 to December 2015. Mr. Mouw has also held various senior positions at Groupe Danone, including General Manager for Danone SA in China, General Representative of Robust China Co., Ltd., General Manager of Danone (Health Mineral Water) and General Manager of Danone (Home and Delivery) from September 2000 to September 2010.

“DayDayCook’s content-to-commerce model is the future of branding in the food industry. Norma and her team have put all of the pieces in place necessary for long-term success: customer engagement, innovative plant-based products, strong supply chain and comprehensive online/offline distribution model. I am excited to be a part of this next chapter in the company’s growth,” said Mr. Mouw.

Dr. Malik Sadiq has more than 25 years of experience in the food and strategy consulting industries across China, India, and the U.S. He is currently the Chief Operating Officer of LIVEKINDLY Co. Prior, Dr. Sadiq worked for Tyson Foods, and held several senior management positions there since May 2007, including CEO India, COO China, and Head of Global Sourcing and Business Optimization. Dr. Sadiq also served as the Vice President of Consumer Practice at Hitachi Consulting from July 2002 to May 2006. Dr Sadiq holds a Master of Science in Industrial Engineering and a Ph.D. in industrial Engineering from University of Arkansas.

“As the COO of LIVEKINDLY, I have had the opportunity to be at the forefront of the global movement towards plant-based foods. Joining the Advisory Board at DayDayCook will be an excellent opportunity for me to leverage this experience in shaping and supporting the company’s emergence in this fast-growing market supported by the leadership team Norma has assembled,” said Dr. Sadiq.

DDC – A Leader in Food Innovation

Founded in 2012, DDC is a digital publisher and merchandising company that owns and operates the brand DayDayCook, which is currently one of the leading content-driven lifestyle brands for young food lovers located in Asian markets.

DDC has launched ready-to-heat (RTH), ready-to-cook (RTC) and plant-based food products, which bring convenience and quality food products to the young food lovers. The Group builds brand recognition through culinary and lifestyle content across major social media and e-commerce platforms to promote its products, resulting in over aggregate 3 billion video views and over 10 million orders worldwide. As of the second quarter (“Q2”) of 2021, DDC has had 60 million active viewers, 3.4 million paid customers, and a 21.2% average repeat purchase rate.

Forward-Looking Statements

This document (“Document”) is being provided to recipients solely for information purpose and it is not intended to form the basis of any investment decision or any decision in relation to a transaction involving DDC Enterprise Limited (the “Company”) and/or any of its subsidiaries and/or affiliates (collectively, the “Group”). This Document does not constitute or contain an offer or invitation or solicitation for the sale or purchase of securities or any interest in the Group and neither this Document nor anything contained herein shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. Neither the information contained in this press release, nor any further information made available by the Group or any of its directors, officers, partners, employees, agents, representatives or advisors will form basis of or be construed as a contract or any other legal obligation.

Interested parties should conduct their own investigation and analysis of the Group, financial condition and prospects, and of the data set forth in this Document. None of the Group, or its subsidiaries, shareholders or other affiliates, or any of their respective directors, officers, partners, employees, agents, representatives or advisors, make any representation or warranty, express or implied, as to the accuracy or completeness of this Document or the information contained in, or for any omissions from, this Document or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Group. In furnishing this Document, the Group does not undertake any obligation to provide the recipient with access to any additional information or to update this Document or to correct any inaccuracies therein which may become apparent. This Document shall neither be deemed an indication of the state or affairs of the Group nor constitute an indication that there has been no change in the state or affairs of the Group since the date thereof or since the dates as of which information is given in the Document.

This Document may contain certain statements, estimates, targets, forecasts and projections with respect to the Group, including certain financial forecasts. Any such information is subjective and would necessarily be prepared based upon certain assumptions and analysis of information available at the relevant time and may not prove to be correct. Accordingly, there is no representation, warranty or assurance of any kind, express or implied, that any such information will be correct or that any such statements, estimates, targets, forecasts or projections will be realized. This Document may also contain forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward looking statements through the use of words such as “may,” “will,” “can,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “seek,” “estimate,” “continue,” “plan,” “point to,” “project,” “predict,” “could,” “intend,” “target,” “potential” and other similar words and expressions of the future. These forward-looking statements are subject to risks and uncertainties that may cause actual future experience and results to differ materially from those discussed in these forward looking statements. Important factors that might cause such a difference include, but are not limited to, the timing, cost and uncertainty of the Group’s business initiatives and the Group's ability to develop and monetize its business. None of the members of the Group undertake any obligation to release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

CONTACT:Matt BlazeiSenior Equity Research AnalystCORE IR516 222

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