Fonterra Financial Overview

2022 Interim Results Fonterra Dairy for life 2021/22 forecast Farmgate Milk Price $9.30 – $9.90 per kgMS Profit after tax¹ $364 million Interim Dividend 5c per share $27m² Forecast normalised earnings per share³ 25-35c • Performing well, and creating the momentum needed to achieve our 2030 targets • Record forecast milk price reflects strong demand at a time of constrained global supply • Inflationary pressures both on-farm and in our operations . • COVID-19 remains a challenge, but we continue to deliver for our shareholders and customers • Solid first half earnings and confirm full year forecast earnings range 1. Total Group figures are for the six months ended 31 January 2022. This includes continuing and discontinued operations, and includes amounts attributable to non-controlling interests 23 Relative to reported profit after tax in the first six months of FY21 Attributable to equity holders of the Co-operative, excludes amounts attributable to non-controlling interests 2

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