LIC Confirms Discussions Regarding Potential Acquisition

Private Bag 3016
Hamilton 3240
New Zealand

0800 651 156
www.lic.co.nz
LIC is the trading name of Livestock Improvement Corporation Limited
Market Announcement
18 February 2020

LIC Confirms Discussions Regarding Potential Acquisition

Following recent speculation in a business media publication in Israel, Livestock
Improvement Corporation (NZX: LIC) confirms that it is in advanced discussions with the
shareholders of Afimilk Agricultural Cooperative Limited (“Afimilk”) regarding the potential
acquisition by LIC of a 50% shareholding in Afimilk.

The discussions with the Afimilk shareholders are incomplete and ongoing, and there is no
certainty that a transaction will be concluded.

LIC will continue to update the market in line with its continuous disclosure obligations.

Ends

For investor relations questions, please contact
Gillian Brennan
Company Secretary
Gillian.Brennan@lic.co.nz
+64 7 856 0700

For media enquiries, please contact
Jo Jalfon
Communications Manager
Jo.Jalfon@lic.co.nz
+64 27 297 1904

About LIC

LIC is a farmer-owned co-operative that provides a range of services and solutions to improve the productivity
and prosperity of farmers. This includes dairy genetics, information technology, herd testing, DNA parentage
verification and farm advisory services through FarmWise. Subsidiary business LIC Automation also provides
integrated automation systems and unique milk testing sensors that present real-time data while a cow is
being milked. With origins dating back to 1909, LIC has a long history of world-leading innovations for the dairy
industry.

Today the New Zealand-based co-operative employs more than 700 permanent staff, swelling to 2000 during
the peak dairy mating season. LIC also has offices in the United Kingdom, Ireland and Australia. All LIC profit is
returned to its farmer owners/shareholders in dividends or re-invested for new solutions and research and
development. www.lic.co.nz