Capital Change Notice

Capital Change Notice





25 November 2019

Notice of issue of Ordinary Shares

This notice is given under NZX Listing Rule 3.13.1 and 3.15.2 and relates to the exercise of
options to subscribe for fully paid ordinary shares pursuant to ATM's Long Term Incentive Plan.

Section 1: Issuer information
Name of issuer The a2 Milk Company Limited
NZX ticker code ATM
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZATME0002S8
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 100,000
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security NZ$0.63 per Ordinary Share
for a total consideration of
NZ$63,000
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
0.014% of the total number of
Ordinary Shares on issue at
the date of this notice
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or the
Option (for example, the exercise price and exercise date)
Options to subscribe for fully
paid Ordinary Shares
(Options) exercised on 25
November 2019 at an exercise
price of NZ$0.63 per Option,
for a total consideration of
NZ$63,000.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Ordinary Shares issued on
exercise of Options granted on
30 March 2015.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
Stock) and the total number of Financial Products of the Class
held as Treasury Stock after the issue/acquisition/redemption.
735,880,598 Ordinary Shares

There is no Treasury Stock
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable

Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Board resolution dated 24
February 2015 and NZX
Listing Rule 4.9.1(b).
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
All shares rank equally with the
existing Ordinary Shares
Date of issue/acquisition/redemption 25/11/2019
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement
Jaron McVicar, General
Counsel and Company
Secretary
Contact person for this announcement Jaron McVicar
Contact phone number +61 2 9697 7000
Contact email address Jaron.McVicar@a2milk.com
Date of release through MAP

25/11/2019


Listing Rule 3.15.2 – Options issued on 30 March 2015

The following details are provided for the purposes of NZX Listing Rule 3.15.2:

(a) Number of Financial Products
converted and the number and class
of Quoted Financial Products into
which they have been converted:
100,000 Options converted into 100,000
Ordinary Shares
(b) Interest or dividend conditions
attaching to the Financial Products
into which they have been converted:
None
(c) Number of Financial Products of the
same class remaining to be
converted:
3,100,000 Options issued on 30 March 2015
with an exercise price of NZ$0.63 per Option.