Tyson Foods Plans to Extend Beef Operations Globally

A joint venture is being explored to establish a manufacturing plant in Kazakhstan Springdale, Ark. – December 9, 2019 — Tyson Fresh Meats, Inc., a subsidiary of Tyson Foods, Inc. (NYSE: TSN) specializing in beef and pork, has today entered into a partnership with the Republic of Kazakhstan and private holding firm Kusto Group. The partnership aims to potentially construct a state-of-the-art beef processing facility in Kazakhstan, with a projected daily harvest capacity of 2,000 head. The investment is expected to contribute over a billion dollars (USD) annually to the country's agricultural economy. Kazakhstan, the world's ninth largest country by land area, has recognized the livestock and multi-protein export industry as a significant growth sector. The country has a well-established beef industry that caters to the local population and exports to the region. The partnership with Tyson and Kusto Group is part of a larger initiative by the Kazakhstan government to modernize and expand agriculture, starting with meat production. Officials from Tyson Foods have visited Kazakhstan, and the Prime Minister of the Republic of Kazakhstan, Askar Mamin, along with other representatives, have visited Tyson's headquarters in the U.S., including one of the company’s major beef complexes. Kusto Group, headquartered in Singapore but founded in Kazakhstan, has a subsidiary that is a leading player in the country's beef production. Prime Minister Mamin expressed his pleasure at welcoming Tyson Foods to Kazakhstan, stating that Tyson's expertise would help transform the country's agro-protein capabilities, increase the beef herd size, and create thousands of new high-quality jobs. He looked forward to a long and mutually beneficial collaboration. Steve Stouffer, group president of Tyson Fresh Meats, expressed his satisfaction at partnering with the Government of Kazakhstan and Kusto, stating that this opportunity aligns with Tyson's growth strategy to expand globally. Yerkin Tatishev, chairman of the board of directors, Kusto Group, expressed his belief in Kazakhstan's potential to become a global agricultural player and looked forward to starting their beef operations with Tyson Foods. The parties are considering implementing the project at the Astana International Financial Centre, given its jurisdictional advantages. Tyson Fresh Meats, headquartered in Dakota Dunes, S.D., currently operates beef plants in Nebraska, Illinois, Iowa, Kansas, Texas, and Washington. The company's beef business generated $15.8 billion in sales in the fiscal year 2019. About Tyson Foods Tyson Foods, Inc. (NYSE: TSN) is a global food company and a leader in protein. Established in 1935 by John W. Tyson and grown under three generations of family leadership, the company offers a wide range of products and brands. Tyson Foods continually innovates to make protein more sustainable and to raise global expectations for good food. The company, headquartered in Springdale, Arkansas, has 141,000 team members. About Kusto Group Kusto Group Pte. Ltd. (www.kustogroup.com) is a diversified international holding company, headquartered in Singapore with roots in Kazakhstan. Kusto operates in various sectors in more than 10 countries across 4 continents. The success of Kusto is due to a strong corporate culture that values courage, collaboration, partnering with local champions, and a focus on sustainable and ethical development. Contact: Liz Croston, 605-235-3657, liz.croston@tyson.com