Monthly Allotment / Redemption Notice

Fonterra Shareholders' Fund
Monthly Allotment / Redemption Notice
04 June 2024

Issued in reliance on the Fund's waiver from NZX Main Board Listing Rule
3.13.1 dated 24 June 2019. A copy of this waiver can be found at https://
www.fonterra.com/nz/en/investors/fonterra-shareholders-fund.html.

Please be advised that during the month of May 2024 the following
allotments and redemptions of units were made in the Fonterra Shareholders'
Fund. Each unit was allotted or redeemed in consideration of the transfer of
one share in Fonterra Co-operative Group Limited to or by Fonterra Farmer
Custodian Limited.

(a) Class of Security and ISIN: FSF Units, ISIN: NZFSFE0001S5

(b) Number of Securities:
Allotted: 0
Redeemed: 0
Net Allotment 0

(c) Percentage of total Class of Securities:
Allotted: 0.0000000%
Redeemed: 0.0000000%
Net Allotted 0.0000000%

(d) Reason for Redemption:
Each unit was allotted or redeemed in consideration of the transfer of one
share in Fonterra Co-operative Group Limited to or by Fonterra Farmer
Custodian Limited.

(e) Specific authority for Redemption:
Fonterra Shareholders' Fund Unit Trust Deed between FSF Management Company
Limited, the New Zealand Guardian Trust Company Limited and Fonterra
Co-operative Group Limited, and the Custody Trust Deed for the Fonterra
Economic Rights Trust between FSF Management Company Limited, the New Zealand
Guardian Trust Company Limited, Fonterra Co-operative Group Limited and
Fonterra Farmer Custodian Limited.

(f) Terms or details of the Redemption: The units allotted rank pari-passu
with the existing units on issue.

(g) Number of Securities of the Class in existence at close on 31/05/2024
after the allotment (exclusive of Treasury Stock):
107,410,984

(h) Previous number of Securities of the Class in existence at close on
30/04/2024 before the allotment (exclusive of Treasury Stock):
107,410,984

Jackie Floyd
On behalf of the Fonterra Shareholders' Fund.
FSF Management Company Ltd (Australian Registered Business Number 190 539
935, incorporated in New Zealand) is the manager of the Fonterra
Shareholders' Fund.

[email protected]
Phone +64 9 374 9000
Private Bag 92032, Auckland, 1142, 109 Fanshawe Street, Auckland Central,
Auckland, 1010 New Zealand
www.fonterra.com
End CA:00430358 For:FSF Type:SECISSUE Time:2024-05-01 09:52:40

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Announcement PDF