For more information, please contact:
Media Relations: press@danone.com – Investor Relations: investor.relations@danone.com
Danone: 59-61 rue La Fayette, 75009 Paris

Press release – Paris, March 24, 2026, 9:15pm CET

Danone and Arcor strengthen their strategic alliance to unlock new dairy opportunities in Argentina

Danone and Arcor today announce a new chapter in their strategic alliance in Argentina, creating a joint venture focused on the local dairy market. The new partnership will combine:

• Danone’s dairy business in Argentina (Danone Argentina SA), with thirty years presence in Argentina, deeply rooted in families’ daily lives;
• Mastellone Hermanos SA, a company with deep heritage in Argentina’s dairy market, spanning almost a century;
• Logistica La Serenísima, their common logistics subsidiary.

Building on the pair’s over two-decade long partnership, this alliance will create an integrated business, leveraging the strengths and scale of both companies to deliver greater and faster innovation, enhanced operational excellence and increased commercial reach across the category, for the benefit of all Argentinian consumers.

The joint venture will also open new growth opportunities in the dairy market through its eleven production plants located in the region, where, among other products, milk, dulce de leche, cheeses, butters, creams, yogurts, and desserts are produced.

As a consequence of this transaction, Danone will hold equal control of the joint venture with Arcor, and post-closing, it will be reflected within ‘equity-accounted companies’ in Danone’s financial statements based on the 50% shareholding.

Antoine de Saint-Affrique, CEO of Danone said: “With this operation, we are delighted to take our long-term partnership with the Arcor group to the next level. This underlines our commitment to the Argentinian market and Latin America. Combining our assets will create a powerful growth platform with more opportunities for innovation, operational efficiency and greater reach. It’s all about bringing healthy, quality dairy brands to more consumers in Argentina now and in the future”.

Alfredo Pagani, President of Arcor commented: “The creation of this dairy joint venture with Danone represents a decisive step toward enhancing the commercial, operational, and management capabilities of both companies. This alliance will accelerate growth through an integrated strategy focused on the development of high value‑added products. For Arcor, this is a strategic project that reaffirms our commitment to the country and strengthens our value proposition in the consumer food products market.”

The transaction remains subject to customary closing conditions, including regulatory approval.

For more information, please contact:
Media Relations: press@danone.com – Investor Relations: investor.relations@danone.com
Danone: 59-61 rue La Fayette, 75009 Paris

About Danone (www.danone.com)

Danone is a leading global food and beverage company operating in three health-focused, fast-growing and on‑trend Categories: Essential Dairy & Plant-Based products, Waters and Specialized Nutrition. With a long-standing mission of bringing health through food to as many people as possible, Danone aims to inspire healthier and more sustainable eating and drinking practices while committing to achieve measurable nutritional, social, societal and environmental impact. Danone has defined its Renew strategy to restore growth, competitiveness, and value creation for the long‑term. With c.90,000 employees, and products sold in over 120 markets, Danone generated €27.3 billion in sales in 2025. Danone’s portfolio includes leading international brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian, Nutricia, Nutrilon, Volvic, among others) as well as strong local and regional brands (including AQUA, Blédina, Bonafont, Cow & Gate, Mizone, Oikos and Silk). Listed on Euronext Paris and present on the OTCQX platform via an ADR (American Depositary Receipt) program, Danone is a component stock of leading sustainability indexes including the ones managed by Moody’s and Sustainalytics, as well as MSCI ESG Indexes, FTSE4Good Index Series, Bloomberg Gender Equality Index, and Access to Nutrition Index. Danone achieved B CorpTM certification at global level in 2025.

About Arcor

Arcor Group is a leading multinational with three business divisions: consumer food products, packaging, and agribusiness. It is the leading food company in Argentina, the leading exporter of confectionery in Argentina, Chile, and Peru, and a leader in Latin America in cookies, alfajores, and cereals through Bagley Latin America, a joint venture with Danone Group. Furthermore, it is the company with the largest corn milling capacity in the region and the largest producer of corrugated cardboard, industrial bags and kraft paper in Argentina, with a presence in Chile and Peru. With 49 manufacturing plants, more than 20,000 employees and a commercial presence in more than 100 countries, it achieved net sales of $3.4 billion in 2025. The company drives its growth through a model based on long‑term partnerships with companies such as Danone; Grupo Bimbo in Mexico; Grupo Webcor in Angola; Laboratorios Bagó; and Ingredion Incorporated, strengthening its presence across the region and in international markets.

o o O o o

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements concerning Danone that are subject to risks and uncertainties. Generally, you can identify these forward-looking statements by forward-looking words, such as “estimate”, “expect”, “anticipate”, “project”, “plan”, “intend”, “objective”, “believe”, “forecast”, “guidance”, “foresee”, “likely”, “may”, “should”, “goal”, “target”, “might”, “will”, “could”, “predict”, “continue”, “convinced” and “confident,” the negative or plural of these words and other comparable terminology or by using future dates. Forward-looking statements in this press release include but are not limited to predictions of future activities, operations, direction, performance and results of Danone.

These forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward-looking statements. For a detailed description of risks and uncertainties, please refer to the “Risk Factor” section of Danone’s Universal Registration Document (the current version of which is available at www.danone.com).

Subject to regulatory requirements, Danone does not undertake to publicly update or revise any of these forward‑looking statements. This document does not constitute an offer to sell or a solicitation of an offer to buy Danone securities