Monthly Allotment / Redemption Notice

Fonterra Shareholders' Fund
Monthly Allotment / Redemption Notice
01 May 2020
Please be advised that during the month of April 2020 the following allotments and redemptions
of units were made in the Fonterra Shareholders' Fund. Each unit was allotted or redeemed in
consideration of the transfer of one share in Fonterra Co-operative Group Limited to or by
Fonterra Farmer Custodian Limited.
(a) Class of Security and ISIN: FSF Units, ISIN: NZFSFE0001S5
(b) Number of Securities:
(c) Percentage of total Class of Securities:
(d) Reason for allotment: Each unit was allotted or redeemed in consideration of
the transfer of one share in Fonterra Co-operative Group Limited to or by Fonterra
Farmer Custodian Limited.
(e) Specific authority for allotment: Fonterra Shareholders' Fund Unit Trust Deed between
FSF Management Company Limited, the New Zealand Guardian Trust Company Limited
and Fonterra Co-operative Group Limited, and the Custody Trust Deed for the Fonterra
Economic Rights Trust between FSF Management Company Limited, the New Zealand
Guardian Trust Company Limited, Fonterra Co-operative Group Limited and Fonterra
Farmer Custodian Limited.
(f) Terms or details of the allotment: The units allotted rank pari-passu with the
existing units on issue.
(g) Number of Securities of the Class in existence at close on 30/04/2020 after
the allotment (exclusive of Treasury Stock):
Andrew Cordner
On behalf of the Fonterra Shareholders' Fund. FSF Management Company Ltd (Australian Registered Business Number 190 539 935,
incorporated in New Zealand) is the manager of the Fonterra Shareholders' Fund.
taf@fonterra.com
Phone +64 9 374 9000
Private Bag 92032, Auckland, 1142, 109 Fanshawe Street, Auckland Central, Auckland, 1010 New Zealand
www.fonterra.com
Issued in reliance on the Fund's waiver from NZX Main Board Listing Rule 3.13.1 dated 24 June 2019. A copy of this waiver can be found at https://
www.fonterra.com/nz/en/investors/fonterra-shareholders-fund.html.
(h) Previous number of Securities of the Class in existence at close on
31/03/2020 before the allotment (exclusive of Treasury Stock):
102,634,625
100,017,876
Allotted:4,502,936
Redeemed:1,886,187
Net Allotment2,616,749
Allotted:4.5021312%
Redeemed:1.8858499%
Net Allotted %2.6162813%