2022 Annual Results

Group performance by channels Ingredients Volume ('000 MT) 2,197 From 2,346 Revenue ($ million) 15,703 From 13,697 ↑ Gross margin 10.7% From 8.1% Foodservice Volume ('000 MT) 509 From 498 Revenue ($ million) 3,314 From 2,959 Gross margin Consumer Volume ('000 MT) 1,048 From 1,070 ↓ Revenue ($ million) 4,134 From 4,070 Gross margin 25.8% From 28.4% 14.5% From 22.9% $ million ■2021 2022 1,684 1,104 Gross profit Fonterra Dairy for life 1,154 1,067 916 677 365 479 369 138 142 310 EBIT Gross profit EBIT Gross profit 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 34

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