Li & Fung : NOTICE OF SPECIAL GENERAL MEETING

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.

Incorporated in Bermuda with limited liability

Stock Code: 494

NOTICE OF SPECIAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that a special general meeting ("SGM") of Li & Fung Limited (the "Company") will be held at Ground Floor, Hong Kong Spinners Industrial Building, Phases I & II, 800 Cheung Sha Wan Road, Kowloon, Hong Kong, on Wednesday, 31 January 2018 at 11:30 a.m. for the purpose of considering and, if thought fit, passing with or without modification the following resolution as an ordinary resolution of the Company:

"THAT the Strategic Divestment, as well as all agreements in relation to and the transactions contemplated under the Strategic Divestment, and/or set out in the circular to the shareholders of the Company dated 9 January 2018 (the "circular"), be and are hereby approved, confirmed, authorised and ratified, and the directors of the Company be and are hereby authorised to do all such acts and things and execute such documents on behalf of the Company as they may in their absolute discretion necessary, desirable or expedient to implement and/or give effect to the Strategic Divestment, as well as all agreements in relation to and the transactions contemplated under the Strategic Divestment, and/or set out in the circular, with such changes as the Directors may in their absolute discretion consider necessary, desirable or expedient."

By Order of the Board

Terry Wan Mei Chow

Company Secretary, Li & Fung Limited

Hong Kong, 9 January 2018

As at the date of this announcement, Executive Directors of the Company are William Fung Kwok Lun (Group Chairman), Spencer Theodore Fung (Group Chief Executive Officer) and Marc Robert Compagnon; Non-executive Director is Victor Fung Kwok King (Honorary Chairman); Independent Non-executive Directors are Allan Wong Chi Yun, Martin Tang Yue Nien, Margaret Leung Ko May Yee and Chih Tin Cheung.

Notes:

(1) A member entitled to attend and vote at the above meeting may appoint one or more proxies to attend and vote instead of him/her. A proxy need not be a member of the Company.

• (2) In order to be valid, the instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or a notarially certified copy of that power or authority shall be deposited at 11th Floor, LiFung Tower, 888 Cheung Sha Wan Road, Kowloon, Hong Kong not less than 48 hours before the time appointed for holding the meeting. The form of proxy is published on the website of HKExnews atwww.hkexnews.hk and can also be downloaded from the Company's website at www.lifung.com.

• (3) In order to determine the right to attend the SGM, the register of members of the Company will be closed from Monday, 29 January 2018 to Wednesday, 31 January 2018 (both days inclusive), during which no transfer of shares can be registered. Members who are entitled to attend and vote at the SGM are those whose names appear on the register of members of the Company on Monday, 29 January 2018. In order to be eligible to attend the SGM, all properly completed transfer forms accompanied by the relevant share certificates must be lodged with the Company's Hong Kong branch share registrar, Tricor Abacus Limited, at Level 22, Hopewell Centre, 183 Queen's Road East, Hong Kong for registration no later than 4:30 p.m.

  on Friday, 26 January 2018.