Synlait increases forecast milk price to $7.25 kgMS 2019/20

Synlait Milk Limited · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · +643 373 3000 · www.synlait.com

NZX: SML
ASX: SM1
27 January 2020

Synlait increases forecast milk price to $7.25 kgMS for 2019/20

Synlait Milk Limited has updated its forecast base milk price for the 2019 / 2020 season to $7.25 kgMS
from $7.00 kgMS.

Synlait’s decision to increase its forecast base milk price was driven by its view that global dairy prices will
remain around current levels for the remainder of the milk season.

Synlait CEO Leon Clement commented: “Synlait increased its forecast milk price to $7.25 for the current
season on the back of higher than expected commodity prices at the end of 2019, which we believe will
hold in the medium term as supply and demand continue to be evenly matched. We are grateful for the
ongoing support of Synlait’s farmer suppliers and are pleased to be able to offer an improved forecast milk
price for the current season.”

Forecasts are based on the best information available to Synlait at the time. Synlait will continue to monitor
movements and keep its farmer suppliers up to date.

Synlait’s next milk price announcement will occur in late May 2020.




For more information about Synlait visit www.synlait.com
or contact:

Media
Linda Chalmers
Senior Communications Advisor – External
P: +64 21 951 347
E: linda.chalmers@synlait.com


Investors
Hannah Lynch
Corporate Affairs Manager
P: +64 21 252 8990
E: hannah.lynch@synlait.com