Fonterra Financial Overview

Progress on our three strategic choices Focus on New Zealand Milk Gall Making progress on divestment of Chile and ownership review of Australia Work with Government to enable capital structure progressing well Driving demand for New Zealand milk in our markets Be a leader in Sustainability Kowbucha TM methane reduction trial continues to show promise and moves to next stage NZMP Organic Butter - carbonzero certified TM wins two innovation awards Be a leader in dairy Innovation & Science VitaKey collaboration to unlock benefits of probiotic strains ahead of schedule and scope expanded Anlene 5XTM, providing five key mobility benefits, launched in Malaysia, Philippines, Vietnam and Thailand 14

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