Ongoing Disclosure Notice

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited
Date this disclosure made:
22/02/2017
Date of last disclosure:
1/09/2016
Director or senior manager giving disclosure
Full name(s):
Geoffrey Howard Babidge
Name of listed issuer:
The a2 Milk Company Limited (Company)
Name of related body corporate (if applicable):
Position held in listed issuer:
Managing Director & CEO
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Ordinary shares
Nature of the affected relevant interest(s):
Beneficial interest
For that relevant interest-
Number held in class before acquisition or disposal:
1,500,000 fully paid ordinary shares
Number held in class after acquisition or disposal:
600,000 fully paid ordinary shares
Current registered holder(s):
GCAA Investments Pty Ltd
Registered holder(s) once transfers are registered:
GCAA Investments Pty Ltd
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the underlying
financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant
interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: Three
Details of transactions requiring disclosure-
Date of transaction:
17/02/2017 and 20/02/2017

Nature of transaction:
Sale of 900,000 ordinary shares on market.
The sale of shares by GCAA Investments is
consistent with recent practice, as Mr Babidge
continues to review his investments in order to
achieve a more balanced portfolio over time.
As noted elsewhere in this form, Mr Babidge
continues to hold a relevant interest in 600,000
fully paid ordinary shares and 5,000,000 partly
paid ordinary shares.
Name of any other party or parties to the transaction (if known):
The consideration, expressed in New Zealand dollars, paid or received for the acquisition
or disposal. If the consideration was not in cash and cannot be readily by converted into a
cash value, describe the consideration:
$2,242,059.50 receivable from on-market
disposals
Number of financial products to which the transaction related:
900,000 ordinary shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:Ordinary shares
Nature of relevant interest:Beneficial owner
For that relevant interest,-
Number held in class:5,000,000 partly paid ordinary shares
Current registered holder(s):GCAA Investments Pty Ltd
For a derivative relevant interest,-
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the underlying
financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant
interest in the derivative:
Certification
I certify that, to the best of my knowledge and belief, the information contained in this
disclosure is correct and that I am duly authorised to make this disclosure by all persons
for whom it is made.
Signature of director or officer:
Date of signature:21/02/2017
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:
Notes

Use this form to disclose all the acquisitions and disposals by a director or senior
manager of a listed issuer, or of a related body corporate, or in specified derivatives. The
disclosure must be made within—
(a) 20 working days after the first acquisition or disposal disclosed in this
notice if the acquisitions or disposals are of a kind referred to in section 297(2)(a) of the
Financial Markets Conduct Act 2013; or
(b) in any other case, 5 trading days after the first acquisition or disposal
disclosed in this notice.

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Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

01/01/2011 – Appendix 3Y Page 1
Rule 3.19A.2
Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and
documents given to ASX become ASX’s property and may be made public.
Introduced 30/09/01 Amended 01/01/11

Name of entity The A2 Milk Company Limited
ARBN 158 331 965

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for
the director for the purposes of section 205G of the Corporations Act.

Name of Director
Geoffrey Babidge
Date of last notice
1 September 2016

Part 1 - Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should
be disclosed in this part.

Direct or indirect interest
Indirect
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Geoffrey Babidge’s relevant interest is held on
trust by GCAA Investments Pty Ltd
Date of change
17 and 20 February 2017
No. of securities held prior to change
 1,500,000 fully paid ordinary shares held on
trust by GCAA Investments Pty Ltd
 5,000,000 partly paid ordinary shares held
on trust by GCAA Investments Pty Ltd
Class
Ordinary shares
Number acquired
Nil
Number disposed
900,000 fully paid ordinary shares
Value/Consideration
Note: If consideration is non-cash, provide details and estimated
valuation
NZ$2,242,059.50 receivable from on-market
disposals

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

No. of securities held after change
 600,000 fully paid ordinary shares held on
trust by GCAA Investments Pty Ltd
 5,000,000 partly paid ordinary shares held
on trust by GCAA Investments Pty Ltd
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue
of securities under dividend reinvestment plan, participation in buy-
back
Sale of 900,000 ordinary shares on market. The
sale of shares by GCAA Investments is
consistent with recent practice, as Mr Babidge
continues to review his investments in order to
achieve a more balanced portfolio over time.
As noted elsewhere in this form, Mr Babidge
continues to hold a relevant interest in 600,000
fully paid ordinary shares and 5,000,000 partly
paid ordinary shares.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should
be disclosed in this part.

Detail of contract
N/A
Nature of interest
N/A
Name of registered holder
(if issued securities)
N/A
Date of change
N/A
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
N/A
Interest acquired
N/A
Interest disposed
N/A
Value/Consideration
Note: If consideration is non-cash, provide details and
an estimated valuation
N/A
Interest after change
N/A

Part 3 –
+
Closed period

Were the interests in the securities or contracts detailed above
traded during a
+
closed period where prior written clearance
was required?
No
If so, was prior written clearance provided to allow the trade to
proceed during this period?
N/A

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

01/01/2011 – Appendix 3Y Page 3
If prior written clearance was provided, on what date was this
provided?
N/A