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Nomad Foods Enters into an Accretive Transaction to Settle Legacy Tax Claims

To repurchase 9.8 million shares from Permira at a purchase price of $10.75 per share

Nomad Foods today announced that it has entered into an agreement to repurchase 9,779,729 of its shares beneficially owned by funds advised by Permira Advisers LLP ("Permira") at a purchase price of $10.75 per share, which represents a 25% discount to the closing price of Nomad Foods ordinary shares on June 9, 2017. The transaction, which is 6% accretive to EPS, relates to a final settlement of indemnity claims against an affiliate of Permira, of legacy tax matters that predate its acquisition of Iglo Group in 2015. The aggregate purchase price of approximately $105.1 million will be funded from the Company's cash on hand and the shares will be retired.

Stefan Descheemaeker, CEO of Nomad Foods, said, "Today's announcement represents a unique opportunity for Nomad Foods to create value for its shareholders. We continue to have significant cash on hand and financial capacity to execute acquisitions, a strategic priority, and remain encouraged by the positive momentum in our business."