Fonterra Financial Overview

Asia Pacific channel performance Ingredients Volume ('000 MT) 251 From 280 Revenue ($ million) 1,764 From 1,636 ↑ Gross margin 11.1% From 10.7% Foodservice Volume ('000 MT) 84 From 82 Revenue ($ million) 482 From 469 Gross margin 13.5% From 25.2% Consumer Volume ('000 MT) 300 From 310 Revenue ($ million) 1,241 From 1,294 Gross margin 24.7% From 28.1% $ million ■2021 ■2022 65 175 196 55 Gross profit EBIT 85 65 52 52 118 Gross profit Fonterra Dairy for life 364 307 77 (4) 119 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 29

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