Appointment of Independent Director to Fonterra Board

28 April 2020

Appointment of Independent Director to Fonterra Board


Fonterra Co-operative Group Limited today announced the appointment of a new Independent Director,
Holly Kramer, who will join the Fonterra Board as an Independent Director on 11 May 2020.

Ms Kramer is based in New South Wales and has extensive governance, multinational, and retail
business experience.

She currently holds a number of significant governance positions, including the Board of Woolworths
where she is an Independent Non-Executive Director and Australia Post where she is Deputy Chair and
an Independent Non-Executive Director.

Her previous governance roles include the Boards of Nine Entertainment Corporation, AMP Limited, and
Telstra Clear (NZ).

During her management career, Ms Kramer held sales, marketing or senior leadership roles at the Ford
Motor Company, Telstra Corporation and Pacific Brands. She was Chief Executive of major Australian
retailer, Best & Less.

Chairman John Monaghan said the Co-operative’s Board was pleased to welcome Ms Kramer with her
wealth of governance experience across a broad range of industries.

“Holly’s experience in customer-centred leadership, transformation, e-commerce, technology and
multinational organisations will complement the existing collective skill set of our Board.

“She has a strong record of creating shareholder value across a broad range of industries and shares our
commitment to the highest standards of governance.

“Holly’s experience, energy and international perspective will be assets for our Co-operative.”

Ms Kramer fills the vacancy left by Simon Israel when he retired from the Fonterra Board in November last
year. Farmers will be asked to ratify her appointment as part of voting at this year’s Annual Meeting.

In accordance with the Fonterra Shareholders’ Market Rules, the Board of Fonterra Co-operative Group
Limited has determined that Ms Kramer will be an Independent Director.

The Independent Directors of the Manager of the Fonterra Shareholders’ Fund support Ms Kramer’s
appointment.

ENDS

Fonterra Co-operative Group
Confidential to Fonterra Co-operative Group Page 2


For further information contact:

Fonterra Communications
24-hour media line
Phone: +64 21 507 072