Notification of issue of securities – Ordinary shares

30 March 2017

NOTIFICATION OF ISSUE OF SECURITIES – ORDINARY SHARES

For the purposes of Listing Rules 7.12.1 and 7.12.9 of the NZX Main Board/Debt Market Listing
Rules, Synlait Milk Limited (SML) advises that the following securities have been issued on
conversion of Performance Share Rights:

a Class of security Ordinary Shares
ISIN NZSMLE0001S9
b Number issued 30,227
c Issue price N/A (Ordinary Shares issued upon exercise of
Performance Share Rights and no additional
consideration is payable by the employees)
d Payment in cash N/A
e Amount paid up N/A
f Principle terms of issue N/A
g Percentage of class of
securities
0.02%
h Reason for issue Issue of shares under the SML IPO Incentive
Scheme as part of employee remuneration
i Authority for issue Resolution of the Board upon vesting of the
Performance Share Rights
j Terms of issue None
k Total number of securities of
the class in existence after the
issue
179,179,846

l Treasury stock N/A
m Date of issue 30 March 2017

There are no details to be disclosed of any interest or dividend conditions attaching to the
Performance Share Rights and/or the Ordinary Shares.

43,182 Performance Share Rights remain to be converted into Ordinary Shares under the same
SML IPO Incentive Scheme.

Yours faithfully,

Quentin Lowcay
General Counsel & Commercial Manager