SPH Notice – The Goldman Sachs Group, Inc. (“GSGI”)

Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013

To NZX Limited
and
To The A2 Milk Company Limited (ATM)

Date this disclosure made: 27 August 2018
Date last disclosure made: 23 August 2018
Date on which substantial holding ceased: 21 August 2018
Substantial product holder(s) giving disclosure
Full name(s): The Goldman Sachs Group, Inc. (“GSGI”) on behalf of itself and its subsidiaries
(“Goldman Sachs Group”) including its significant subsidiaries listed in Annexure A.

Summary of previous substantial holding
Class of quoted voting products: Ordinary shares
Summary for GSGI on behalf of itself and the Goldman Sachs Group.

For last disclosure,—
(a) total number held in class: 54,200,605
(b) total in class: 731,539,067
(c) total percentage held in class: 7.4091%

For current holding after ceasing to have substantial holding,—
(a) total number held in class: 32,973,207
(b) total in class: 731,539,067
(c) total percentage held in class: 4.5074%

Details of transactions and events giving rise to ceasing of substantial holding
Details of the transactions or other events requiring disclosure: Please see Annexure B.

Additional information

Address(es) of substantial product holder(s):

The Goldman Sachs Group, Inc. - Corporation Trust Center, 1209 Orange Street, Wilmington DE
19801, U.S.A.

Goldman Sachs International (GSI) - Peterborough Court, 133 Fleet Street, London EC4A 2BB,
United Kingdom

Goldman Sachs Asset Management L.P. (GSAMLP) - Corporation Trust Center, 1209 Orange Street,
Wilmington DE 19801, USA

Goldman Sachs Financial Markets Pty Ltd (GAUS) - Level 17, 101 Collins Street, Melbourne,
Victoria 3000, Australia

Goldman Sachs & Co. LLC (GSCO) - 200 West Street, New York, NY 10282, USA

Goldman Sachs Asset Management International (GSAMI) - Peterborough Court, 133 Fleet Street,
London EC4A 2BB, United Kingdom

Contact details:
Contact person – Haruka Araki
Contact number - 852 2978 7696
Email - gs-reg-ops-hk-posn@gs.com

Nature of connection between substantial product holders:

The Goldman Sachs Group, Inc. owns, directly or indirectly, at least 99% of the voting securities of
each of:
 Goldman Sachs International;
 Goldman Sachs Financial Markets Pty Ltd;
 Goldman Sachs & Co. LLC.
 Goldman Sachs Asset Management L.P. and
 Goldman Sachs Asset Management International

Certification
I, Haruka Araki, 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



Print name:


Haruka Araki
(signing under power of
attorney)

Capacity:

Attorney

Sign here:




Date:

27 August 2018

Annexure A

Significant Subsidiaries of The Goldman Sachs Group, Inc.
The following are significant subsidiaries of The Goldman Sachs Group, Inc. as of December 31,
2017 and the states or jurisdictions in which they are organized. Each subsidiary is indented beneath
its principal parent. The Goldman Sachs Group, Inc. owns, directly or indirectly, at least 99% of the
voting securities of substantially all of the subsidiaries included below. The names of particular
subsidiaries have been omitted because, considered in the aggregate as a single subsidiary, they would
not constitute, as of the end of the year covered by this report, a “significant subsidiary” as that term is
defined in Rule 1-02(w) of Regulation S-X under the Securities Exchange Act of 1934.

THE GOLDMAN SACHS GROUP, INC AND ITS SUBSIDIARIES



Signature



Print name:


Haruka Araki
(signing under power of
attorney)

Capacity:

Attorney

Sign here:




Date:

27 August 2018

Annexure B

Date of change
Person whose
relevant interest
changed
Nature of Change
Consideration
given in relation
to change (NZD)
Number of
Securities
Class
8/16/2018 GSCO Borrow of securities N/A 3,800,000 Ordinary
8/17/2018 GSI Buy 126,186 11,630 Ordinary
8/17/2018 GSI Buy 105,495 9,723 Ordinary
8/17/2018 GAUS Sell 219,136 20,316 Ordinary
8/17/2018 GSI Buy 16,399 1,521 Ordinary
8/17/2018 GAUS Buy 16,404 1,521 Ordinary
8/17/2018 GSAMLP Sell 1,660 153 Ordinary
8/17/2018 GSAMLP Sell 1,605 146 Ordinary
8/17/2018 GSAMLP Sell 30,445 2,770 Ordinary
8/17/2018 GSAMLP Sell 2,105 194 Ordinary
8/17/2018 GSAMLP Sell 4,638 422 Ordinary
8/17/2018 GSI Return of borrowed securities N/A 700,000 Ordinary
8/20/2018 GSI Sell 145,150 13,280 Ordinary
8/20/2018 GSI Buy 8,171,024 755,000 Ordinary
8/20/2018 GSI Buy 8,171,024 755,000 Ordinary
8/20/2018 GSI Expiry of equity option N/A 755,000 Ordinary
8/20/2018 GSI
Exercise of equity option in full
resulting in cash equities 8,210,960 755,000 Ordinary
8/20/2018 GAUS Buy 42,225 3,857 Ordinary
8/20/2018 GSI Buy 10,051 918 Ordinary
8/20/2018 GAUS Buy 10,054 918 Ordinary
8/20/2018 GSI Buy 5,824 532 Ordinary
8/20/2018 GSI Buy 36,398 3,325 Ordinary
8/20/2018 GSAMLP Sell 1,148 107 Ordinary
8/20/2018 GSAMLP Sell 17,696 1,649 Ordinary
8/20/2018 GSAMLP Sell 6,364 593 Ordinary
8/20/2018 GSCO Return of borrowed securities N/A 1,000,000 Ordinary
8/20/2018 GSI Return of borrowed securities N/A 1,600,000 Ordinary
8/20/2018 GSCO Return of borrowed securities N/A 3,800,000 Ordinary
8/21/2018 GSI Buy 99,391 8,930 Ordinary
8/21/2018 GSI Buy 64,932 5,834 Ordinary
8/21/2018 GSI Buy 7,216,379 648,885 Ordinary
8/21/2018 GSI Buy 71,632 6,441 Ordinary
8/21/2018 GSI Buy 67,235,460 6,045,703 Ordinary
8/21/2018 GSI Sell 56 5 Ordinary
8/21/2018 GSI Buy 27,736,557 2,494,026 Ordinary
8/21/2018 GSI Buy 1,199,210 107,831 Ordinary
8/21/2018 GSI Buy 667 60 Ordinary
8/21/2018 GSI Buy 612 55 Ordinary
8/21/2018 GSI Buy 956 86 Ordinary
8/21/2018 GAUS Sell 16,790,117 1,509,740 Ordinary
8/21/2018 GSI Sell 1,199,210 107,831 Ordinary

Date of change
Person whose
relevant interest
changed
Nature of Change
Consideration
given in relation
to change (NZD)
Number of
Securities
Class
8/21/2018 GAUS Sell 1,437,660 129,272 Ordinary
8/21/2018 GSI Sell 67,235,460 6,045,703 Ordinary
8/21/2018 GAUS Sell 399,295 35,904 Ordinary
8/21/2018 GAUS Sell 48,674,003 4,376,687 Ordinary
8/21/2018 GAUS Sell 231,721 20,836 Ordinary
8/21/2018 GAUS Buy 73,022 6,594 Ordinary
8/21/2018 GAUS Sell 2,340,923 210,492 Ordinary
8/21/2018 GAUS Sell 35,481,615 3,190,449 Ordinary
8/21/2018 GAUS Sell 17,927,160 1,611,981 Ordinary
8/21/2018 GSI Sell 6,574,808 591,196 Ordinary
8/21/2018 GSI Sell 464,722 41,787 Ordinary
8/21/2018 GSI Sell 5,418,192 487,195 Ordinary
8/21/2018 GSI Sell 409,293 36,803 Ordinary
8/21/2018 GSI Sell 4,703,210 422,905 Ordinary
8/21/2018 GSI Sell 356,935 32,095 Ordinary
8/21/2018 GAUS Sell 77,315 6,952 Ordinary
8/21/2018 GSI Buy 10,077 910 Ordinary
8/21/2018 GSI Buy 62,940 5,684 Ordinary
8/21/2018 GAUS Sell 37,745,346 3,394,000 Ordinary
8/21/2018 GSI Sell 71,632 6,441 Ordinary
8/21/2018 GSI Sell 612 55 Ordinary
8/21/2018 GSI Sell 667 60 Ordinary
8/21/2018 GAUS Sell 56 5 Ordinary
8/21/2018 GSI Sell 27,738,637 2,494,213 Ordinary
8/21/2018 GSI Sell 956 86 Ordinary
8/21/2018 GAUS Sell 690 62 Ordinary
8/21/2018 GSCO Return of borrowed securities N/A 2,500,000 Ordinary