Fonterra Financial Overview

Group performance by product channel Ingredients Volume ('000 MT) 1,030 From 1,096 Revenue ($ million) 6,898 From 6,016 Gross margin 11.1% From 10.6% Foodservice Volume ('000 MT) 266 From 260✰ Revenue ($ million) 1,685 From 1,569 ↑ Gross margin 15.0% From 25.2% Consumer Volume ('000 MT) 538 From 536 Revenue ($ million) 2,089 From 2,072 ↑ Gross margin 25.9% From 28.4% $ million 768 640 Gross profit 2021 2022 413 296 EBIT Fonterra Dairy for life 588 541 395 85 252 254 180 146 Gross profit EBIT Gross profit EBIT Note: Figures are for the six months ended 31 January. 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 24

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