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DETERMINATION OF DIRECTOR’S INDEPENDENCE

NZX Compliance13 March 2019FSFConsumer Staples

13 March 2019


DETERMINATION OF DIRECTOR’S INDEPENDENCE


In accordance with Rule 3.3.2 of the NZX Listing Rules, the Board of the Manager of the Fonterra

Shareholders’ Fund has determined that Andrew Webster Macfarlane is not an Independent Director.


-ENDS-



Andrew Cordner

Company Secretary - 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


taf@fonterra.com Phone +64 9 374 9000

Private Bag 92032, Auckland, 1142 New Zealand; Fonterra Centre, 109 Fanshawe Street, Auckland,

1010 New Zealand

www.fonterra.com

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