Hershey opens a new R&D Center in Malaysia to fuel product innovation for markets around the world

Center will serve as AEMEA's hub (Asia Pacific including India and China,Europe,Middle East,and Africa) for innovation and technology

Facility will enable Hershey to quickly develop,test,and launch new products customized to consumers' tastes across the region

SINGAPORE,May 20,2022 --The Hershey Company (NYSE: HSY) announced the opening of its new R&D Center located in Johor,Malaysia. The investment is a core part of the company's strategy to drive international growth through innovation.

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William Pritchett,Vice President of International Finance and Commercial,and Herjit Bhalla,Vice President,AEMEA & India,The Hershey Company were in Malaysia on May 11th for the official opening of Hershey's new R&D Center. This new facility will enable Hershey to quickly develop,and launch new products customized to the tastes of consumers across the region,and will become one of Hershey's largest R&D facilities outside of the United States.

"The facility will act as a central hub for the company's operations across the AEMEA region within countries in the Asia Pacific including India and China,the Middle East,and Africa",said Herjit Bhalla. "Our new R&D Center reflects our ongoing commitment to understanding the preferences of consumers across the markets".

The 10,400 square-foot facility is a significant investment in the Malaysian market and will house R&D laboratories,a packaging development facility,and a sensory area,which will enable the company to partner with various innovation teams to taste-test and shortlist iconic products known and loved by consumers across the globe.

"This investment is just one example of how Hershey is continuing to reinvent the science of confectionery through internal and external innovation," said Philippe Zehnder,Senior Director R&D,International. "The new facility will allow our talented teams to gain deeper insights into consumers by enabling them to conceptualize,and develop some of the most innovative products across the region".

About The Hershey Company

The Hershey Company is headquartered in Hershey,Pa.,and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands,remarkable people,and enduring commitment to help children succeed. Hershey has approximately 19,000 employees around the world who work every day to deliver delicious,quality products. The company has more than 100 brand names in approximately 80 countries around the world that drive more than $8.9 billion in annual revenues,including such iconic brand names as Hershey's,Reese's,Kit Kat®,Jolly Rancher and Ice Breakers,and fast-growing salty snacks including SkinnyPop,Pirate's Booty and Dot's Pretzels.

For more than 125 years,Hershey has been committed to operating fairly,ethically,and sustainably. Hershey's founder,Milton Hershey,created the Milton Hershey School in 1909 and since then the company has focused on helping children succeed.

Contact: Hannah Costa,hcosta@hersheys.com