Fonterra Financial Overview

Diversified across markets and products Asia Pacific AMENA Greater China Total Volume ('000 MT)¹ 635 631 568 1,834 6% 1% 4% 3% EBIT contribution¹‚² Ingredients $85m $20m Foodservice $(4)m $56m Consumer $77m $42m Total $158m $78m Note: Figures are for the six months ended 31 January 2022 $184m $44m $0m $8m $66m $14m $250m $50m $144m $53m $413m Fonterra Dairy for life EBIT by Quarter¹,2 284 200 129 96 90 (1) $117m =4 160 94 $89m $105m $85m $3m $6m $236m $58m $169m 109 71 $146m 97 97 18 27 58 87 88 23 23 20 67 79 12 $34m Q1 Q2 Q3 Q4 Q1 Q2 FY21 FY22 1. Prepared on a normalised continuing operations basis. Normalised EBIT contributions sum to $644 million, and does not align to reported continuing operations due to excluding unallocated costs and eliminations 2. Inclusive of Group Operations' EBIT attribution. Comparative information includes re-presentations for consistency with the current period 8

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