Allotment / Redemption Notice

Fonterra Shareholders' Fund
Allotment / Redemption Notice
27 November 2018
(a) Class of Security and ISIN: FSF Units, ISIN: NZFSFE0001S5
(b) Number of Securities:
Allotted:1,383,833
Redeemed:321,152
Net Allotment1,062,681
(c) Percentage of total Class of Securities:
Allotted:1.3326617%
Redeemed:0.3092765%
Net Allotted %1.0233852%
(d) Reason for allotment: 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 allotment: 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 allotment: The units allotted rank pari-passu with the existing units
on issue.
(g) Total number of Securities of the Class in existence after
the allotment (exclusive of Treasury Stock):
104,902,465
(h) Date of allotment:26/11/2018
Andrew Cordner
On behalf of the Fonterra Shareholders' Fund
taf@fonterra.com
Phone +64 9 374 9000
Private Bag 92032, Auckland, 1142, 109 Fanshawe Street, Auckland Central, Auckland, 1010 New Zealand
Please be advised that on 26/11/2018 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.
www.fonterra.com