Fonterra Financial Overview

Group performance by region Asia Pacific Volume ('000 MT) 635 From 672 Revenue ($ million) 3,487 From 3,399 Gross margin 16.3% From 19.3% AMENA Volume ('000 MT) 631 From 627 Revenue ($ million) 3,733 From 3,197 Gross margin 14.3% From 14.7% Greater China Volume ('000 MT) 568 From 593⇓ Revenue ($ million) 3,452 From 3,061 ↑ Gross margin 13.3% From 16.2% $ million ■2021 2022 657 568 236 158 Gross profit EBIT Fonterra Dairy for life 535 470 496 458 200 250 294 236 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 27

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