2022 Annual Results

Asia Pacific channel performance Ingredients Volume ('000 MT) 605 From 610 Revenue ($ million) 4,325 From 3,654 ↑ Gross margin 10.6% From 7.4% ↑ Foodservice Volume ('000 MT) 177 From 163 Revenue ($ million) 1,079 From 930 Gross margin 12.1% From 23.4% Consumer Volume ('000 MT) 588 From 613 Revenue ($ million) 2,475 From 2,526 Gross margin 25.7% From 27.9% $ million ■2021 ■2022 459 272 24 192 Gross profit EBIT 218 79 131 (13) Gross profit EBIT 705 637 Gross profit Fonterra Dairy for life 202 58 EBIT Note: Figures are for the year ended 31 July. Does not add to Total Group as shown on a normalised continuing operations basis and excludes unallocated costs and eliminations. Comparative information includes re-presentations for consistency with the current period 41

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