Ongoing Disclosure Notices

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(1) and 298(1), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
Synlait Milk Limited
Date this disclosure made:
30/10/2019
Date of last disclosure:
21/10/2016
Director or senior manager giving disclosure
Full name(s):
Matthew Dominic Foster
Name of listed issuer:
Synlait Milk Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
General Manager, Strategic Projects
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 owner with power to acquire and
dispose of quoted financial products and power
to exercise right to vote
For that relevant interest-
Number held in class before acquisition or disposal:
5,591 *
Number held in class after acquisition or disposal:
19,226
Current registered holder(s):
N/A
Registered holder(s) once transfers are registered:
Jarden Securities Limited
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
N/A
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
N/A
Maturity date of the derivative (if any):
N/A
Expiry date of the derivative(if any):
N/A
The price specified in the terms of the derivative (if any):
N/A
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:
N/A
For that derivative,-
Parties to the derivative:
N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant
interest in the derivative:
N/A
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 1

Details of transactions requiring disclosure-
Date of transaction:1/10/2019
Nature of transaction:
Issue of ordinary shares in SML on the
conversion of performance share rights further
to SML's Employee Share Scheme
Name of any other party or parties to the transaction (if known):Shares issued by SML
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:
No cash consideration is payable on
conversion further to the terms of SML's
Employee Share Scheme
Number of financial products to which the transaction related: 13,635
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:
As the transaction is an issue of new shares,
SML's Securities Trading Policy does not apply
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:N/A
Nature of relevant interest:N/A
For that relevant interest,-
Number held in class:N/A
Current registered holder(s):N/A
For a derivative relevant interest,-
Type of derivative:N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
N/A
Maturity date of the derivative (if any):
N/A
Expiry date of the derivative (if any):
N/A
The price's specified terms (if any):
N/A
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:
N/A
For that derivative relevant interest,-
N/A
Parties to the derivative:
N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant
interest in the derivative:
N/A
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:16/10/2019
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:
*
Note, since the date of the last disclosure on 21/10/16, 28,500 shares have been sold (by
Matthew Foster as beneficial owner and Jarden Securities Limited as registered holder).

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Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(1) and 298(1), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
Synlait Milk Limited
Date this disclosure made:
30/10/2019
Date of last disclosure:
8/11/2016
Director or senior manager giving disclosure
Full name(s):
Robert Andrew Stowell
Name of listed issuer:
Synlait Milk Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
General Manager, Supply Chain
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):
Registered holders and beneficial owners
(jointly)
For that relevant interest-
Number held in class before acquisition or disposal:
0*
Number held in class after acquisition or disposal:
11,539
Current registered holder(s):
N/A
Registered holder(s) once transfers are registered:
Robert Andrew Stowell and Deborah Stowell
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
N/A
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
N/A
Maturity date of the derivative (if any):
N/A
Expiry date of the derivative(if any):
N/A
The price specified in the terms of the derivative (if any):
N/A
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:
N/A
For that derivative,-
Parties to the derivative:
N/A
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
N/A
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 1

Details of transactions requiring disclosure-
Date of transaction:1/10/2019
Nature of transaction:
Issue of ordinary shares in SML on the
conversion of performance share rights
further to SML's Employee Share Scheme
Name of any other party or parties to the transaction (if known):Shares issued by SML
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:
No cash consideration is payable on
conversion further to the terms of SML's
Employee Share Scheme
Number of financial products to which the transaction related: 11,539
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:
As the transaction is an issue of new
shares, SML's Securities Trading Policy
does not apply
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:N/A
Nature of relevant interest:N/A
For that relevant interest,-
Number held in class:N/A
Current registered holder(s):N/A
For a derivative relevant interest,-
Type of derivative:N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
N/A
Maturity date of the derivative (if any):
N/A
Expiry date of the derivative (if any):
N/A
The price's specified terms (if any):
N/A
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:
N/A
For that derivative relevant interest,-
N/A
Parties to the derivative:
N/A
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
N/A
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:
16/10/2019
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:
* Note, since date of the last disclosure on 8/11/16, 22,727 shares have been sold by
Robert Stowell as registered holder and beneficial owner, and 51,270 shares have
been sold by Robert Stowell and Deborah Stowell as registered holders and beneficial
owners (jointly).

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(1) and 298(1), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
Synlait Milk Limited
Date this disclosure made:
30/10/2019
Date of last disclosure:
Director or senior manager giving disclosure
Full name(s):
Roger Schwarzenbach
Name of listed issuer:
Synlait Milk Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
General Manager, Innovation and Technical
Services
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):
Registered holder and beneficial owner
For that relevant interest-
Number held in class before acquisition or disposal:
0
Number held in class after acquisition or disposal:
6,007
Current registered holder(s):
N/A
Registered holder(s) once transfers are registered:
Roger Schwarzenbach
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
N/A
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying financial products
(if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
N/A
Maturity date of the derivative (if any):
N/A
Expiry date of the derivative(if any):
N/A
The price specified in the terms of the derivative (if any):
N/A
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:
N/A
For that derivative,-
Parties to the derivative:
N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant interest
in the derivative:
N/A
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 1

Details of transactions requiring disclosure-
Date of transaction:1/10/2019
Nature of transaction:
Issue of ordinary shares in SML on the
conversion of performance share rights
further to SML's Employee Share Scheme
Name of any other party or parties to the transaction (if known):Shares issued by SML
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:
No cash consideration is payable on
conversion further to the terms of SML's
Employee Share Scheme
Number of financial products to which the transaction related: 6,007
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:
As the transaction is an issue of new
shares, SML's Securities Trading Policy
does not apply
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:N/A
Nature of relevant interest:N/A
For that relevant interest,-
Number held in class:N/A
Current registered holder(s):N/A
For a derivative relevant interest,-
Type of derivative:N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial products
(if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
N/A
Maturity date of the derivative (if any):
N/A
Expiry date of the derivative (if any):
N/A
The price's specified terms (if any):
N/A
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:
N/A
For that derivative relevant interest,-
N/A
Parties to the derivative:
N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant interest
in the derivative:
N/A
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:25/10/2019
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person: