2022 Annual Results

Good progress on our strategic choices G Focus on Aotearoa New Zealand Milk FY21 FY22 Higher allocation of milk solids to: Foodservice through innovation of our UHT cream portfolio Active Living through partnership with key medical nutrition customers 12.0% 5.3% 13.0% 5.9% Be a leader in dairy innovation & science Increased R&D expenditure $110m $115m² Entered into a strategic partnership with VitaKey Be a leader in Sustainability • Reduced water use at manufacturing sites in water constrained regions Made progress toward exiting coal 2.6% 6.6%³ 1. As a percentage of our total New Zealand milk solids (kgMS) 2. Research and development costs 3. Reduction in water usage relative to FY18 49 49

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