SPH Notice – FIL Limited

1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To New Zealand Stock Exchange
and
To Synlait Milk Limited
Date this disclosure made: 9 June 2020
Date on which substantial holding began:5 June 2020
Substantial product holder(s) giving disclosure
Full name(s): FIL Limited and the entities listed in Annexure A (“FIL”)
Summary of substantial holding
Class of quoted voting products: ordinary share
Summary for FIL Limited
For this disclosure,—
(a) total number held in class: 9,661,572
(b) total in class: 179,306,908
(c) total percentage held in class: 5.388%
Details of relevant interests
Details for Refer to Annexure A
Nature of relevant interest(s): investment discretion and/or voting power
For that relevant interest,—
(a) number held in class: Refer to Annexure A
(b) percentage held in class: Refer to Annexure A
(c) current registered holder(s): Refer to Annexure A
(d) registered holder(s) once transfers are registered: N/A
For a derivative relevant interest, also—
(a) type of derivative: N/A
(b) details of derivative: N/A
(c) parties to the derivative: N/A
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: N/A

2
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure:
Date of Acquisition
Person whose
relevant
interest
changed
Consideration given in
relation to change
Class and number
of securities
affected

Common Stock
13-Feb-20 FIL 6.4925 AUD 2,708
13-Feb-20 FIL 6.4925 AUD 16,459
13-Feb-20 FIL 6.4925 AUD 21,660
13-Feb-20 FIL 6.4925 AUD 53,955
13-Feb-20 FIL 6.4925 AUD 56,752
13-Feb-20 FIL 6.4925 AUD 89,524
13-Feb-20 FIL 6.4925 AUD 235,846
19-Feb-20 FIL 6.7282 NZD 53,522
13-Mar-20 FIL 4.6400 AUD 434,324
23-Mar-20 FIL 4.8592 AUD 1,619
23-Mar-20 FIL 4.8592 AUD 17,068
23-Mar-20 FIL 4.8592 AUD 18,148
23-Mar-20 FIL 4.8592 AUD 38,326
23-Mar-20 FIL 4.8592 AUD 52,267
23-Mar-20 FIL 4.8592 AUD 99,677
23-Mar-20 FIL 4.8592 AUD 191,034
25-Mar-20 FIL 5.0298 AUD 22,759
25-Mar-20 FIL 5.0298 AUD 53,360
26-Mar-20 FIL 5.1877 AUD 8,809
26-Mar-20 FIL 5.1877 AUD 20,652
27-Mar-20 FIL 5.5498 AUD 5,997
27-Mar-20 FIL 5.5498 AUD 14,060
30-Mar-20 FIL 5.4109 AUD 170
30-Mar-20 FIL 5.4109 AUD 399
31-Mar-20 FIL 6.0927 AUD 20,871
31-Mar-20 FIL 6.0927 AUD 72,641
01-Apr-20 FIL 6.2450 AUD 400
01-Apr-20 FIL 6.3774 AUD 1,278
01-Apr-20 FIL 6.3325 AUD 1,287
01-Apr-20 FIL 6.3325 AUD 1,287
01-Apr-20 FIL 6.3774 AUD 1,525
01-Apr-20 FIL 6.3774 AUD 1,590
01-Apr-20 FIL 6.3774 AUD 1,624
01-Apr-20 FIL 6.3325 AUD 1,926
01-Apr-20 FIL 6.3774 AUD 3,682
01-Apr-20 FIL 6.3774 AUD 4,403
01-Apr-20 FIL 6.3774 AUD 12,872

3
02-Apr-20 FIL 6.7200 AUD 137
02-Apr-20 FIL 6.4946 AUD 1,262
02-Apr-20 FIL 6.7200 AUD 2,289
02-Apr-20 FIL 6.7200 AUD 2,386
02-Apr-20 FIL 6.7200 AUD 2,437
02-Apr-20 FIL 6.7200 AUD 5,525
02-Apr-20 FIL 6.7200 AUD 6,607
02-Apr-20 FIL 6.4946 AUD 10,050
02-Apr-20 FIL 6.4946 AUD 10,476
02-Apr-20 FIL 6.4946 AUD 10,701
02-Apr-20 FIL 6.7200 AUD 19,317
02-Apr-20 FIL 6.4946 AUD 24,254
02-Apr-20 FIL 6.4946 AUD 29,005
02-Apr-20 FIL 6.4946 AUD 84,804
03-Apr-20 FIL 6.7314 AUD 785
03-Apr-20 FIL 5.5659 NZD 9,420
03-Apr-20 FIL 6.7314 AUD 13,109
03-Apr-20 FIL 5.5659 NZD 22,081
03-Apr-20 FIL 6.7314 AUD 31,637
03-Apr-20 FIL 6.7314 AUD 110,615
06-Apr-20 FIL 6.8251 AUD 1,221
06-Apr-20 FIL 6.8251 AUD 10,545
06-Apr-20 FIL 6.8251 AUD 25,450
06-Apr-20 FIL 6.8251 AUD 88,982
07-Apr-20 FIL 7.0000 AUD 1,173
07-Apr-20 FIL 7.0000 AUD 12,965
07-Apr-20 FIL 7.0000 AUD 31,291
07-Apr-20 FIL 7.0000 AUD 109,405
08-Apr-20 FIL 6.9888 AUD 1,157
08-Apr-20 FIL 6.9888 AUD 3,145
08-Apr-20 FIL 6.9888 AUD 7,589
08-Apr-20 FIL 6.9888 AUD 26,535
09-Apr-20 FIL 7.1107 AUD 1,138
09-Apr-20 FIL 7.1107 AUD 3,156
09-Apr-20 FIL 7.0658 AUD 3,355
09-Apr-20 FIL 7.0658 AUD 7,859
09-Apr-20 FIL 7.0658 AUD 38,985
09-Apr-20 FIL 7.0658 AUD 123,813
09-Apr-20 FIL 7.0658 AUD 297,674
09-Apr-20 FIL 7.0658 AUD 1,041,620
14-Apr-20 FIL 7.0282 AUD 6,680
14-Apr-20 FIL 7.0282 AUD 99,892
15-Apr-20 FIL 7.4612 NZD 3,355
15-Apr-20 FIL 7.1900 AUD 6,752
15-Apr-20 FIL 7.4612 NZD 7,859

4
15-Apr-20 FIL 7.1900 AUD 95,247
16-Apr-20 FIL 7.1106 AUD 4,566
16-Apr-20 FIL 7.1106 AUD 54,593
17-Apr-20 FIL 7.1996 AUD 12,199
20-Apr-20 FIL 7.0715 AUD 8,763
20-Apr-20 FIL 7.0715 AUD 99,975
23-Apr-20 FIL 5.4462 NZD 37,735
23-Apr-20 FIL 5.4462 NZD 88,471
24-Apr-20 FIL 6.7617 AUD 2,258
27-Apr-20 FIL 6.6596 AUD 1,178
27-Apr-20 FIL 6.7300 AUD 2,250
27-Apr-20 FIL 6.6596 AUD 4,187
28-Apr-20 FIL 7.0000 NZD 3,696
28-Apr-20 FIL 6.5268 AUD 6,071
28-Apr-20 FIL 7.0000 NZD 8,675
28-Apr-20 FIL 6.5268 AUD 92,951
30-Apr-20 FIL 7.1452 NZD 2,779
30-Apr-20 FIL 6.6950 AUD 5,012
30-Apr-20 FIL 7.1452 NZD 6,512
30-Apr-20 FIL 6.6950 AUD 51,234
01-May-20 FIL 6.5478 AUD 7,788
01-May-20 FIL 6.5478 AUD 91,890
04-May-20 FIL 6.8126 NZD 2,781
04-May-20 FIL 6.4420 AUD 5,187
04-May-20 FIL 6.8126 NZD 6,503
04-May-20 FIL 6.4420 AUD 59,982
05-May-20 FIL 6.4750 AUD 2,768
05-May-20 FIL 6.9340 NZD 2,940
05-May-20 FIL 6.9340 NZD 6,897
05-May-20 FIL 6.4750 AUD 32,009
06-May-20 FIL 6.5700 AUD 2,979
06-May-20 FIL 6.9602 NZD 4,215
06-May-20 FIL 6.5434 AUD 4,913
06-May-20 FIL 6.5700 AUD 8,098
06-May-20 FIL 6.9602 NZD 9,876
06-May-20 FIL 6.5700 AUD 44,602
06-May-20 FIL 6.5434 AUD 73,558
07-May-20 FIL 6.9885 NZD 1,728
07-May-20 FIL 6.5559 AUD 2,220
07-May-20 FIL 6.9885 NZD 4,051
07-May-20 FIL 6.5559 AUD 31,984
08-May-20 FIL 7.1562 NZD 1,149
08-May-20 FIL 6.7062 AUD 1,246
08-May-20 FIL 7.1562 NZD 1,869
08-May-20 FIL 6.7062 AUD 17,952

5
11-May-20 FIL 7.3488 NZD 1,050
11-May-20 FIL 6.8895 AUD 1,803
11-May-20 FIL 7.3488 NZD 3,286
11-May-20 FIL 6.8895 AUD 25,993
12-May-20 FIL 7.1396 NZD 3,969
12-May-20 FIL 7.1396 NZD 9,308
13-May-20 FIL 7.0924 NZD 4,448
13-May-20 FIL 7.0924 NZD 10,418
18-May-20 FIL 6.9754 NZD 1,210
18-May-20 FIL 6.9754 NZD 2,023
19-May-20 FIL 7.1400 NZD 44
19-May-20 FIL 7.1400 NZD 115
19-May-20 FIL 7.2350 NZD 746
19-May-20 FIL 6.7083 AUD 1,840
19-May-20 FIL 7.2350 NZD 1,933
19-May-20 FIL 6.7083 AUD 4,486
19-May-20 FIL 6.7400 AUD 6,114
19-May-20 FIL 6.6450 AUD 14,452
19-May-20 FIL 6.6450 AUD 14,762
19-May-20 FIL 6.7400 AUD 14,899
19-May-20 FIL 6.6450 AUD 40,015
20-May-20 FIL 7.0244 NZD 2,477
20-May-20 FIL 7.0244 NZD 6,422
27-May-20 FIL 7.2500 NZD 1,341
28-May-20 FIL 7.1062 NZD 3,723
28-May-20 FIL 7.1062 NZD 8,777
28-May-20 FIL 6.6485 AUD 15,177
29-May-20 FIL 6.2059 AUD 80,159
01-Jun-20 FIL 6.6082 AUD 18,189
02-Jun-20 FIL 6.5522 AUD 60,385
04-Jun-20 FIL 6.6050 AUD 76,275
05-Jun-20 FIL 6.5292 AUD 199
05-Jun-20 FIL 7.0000 NZD 2,238
05-Jun-20 FIL 7.0000 NZD 5,249
05-Jun-20 FIL 6.5114 AUD 5,917
05-Jun-20 FIL 6.5114 AUD 197,027
05-Jun-20 FIL 6.5114 AUD 662,214
Total Acquisitions 6,319,194

Additional information
Address(es) of substantial product holder(s): Refer to Annexure A

Contact details: Contact details: Jen Li, Head of Regulatory Reporting, C/O FIL Asia
Holdings Pte Limited, +852 2629 2657, apac.regulatory.filings@fil.com

6
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: N/A
Certification
I, Jen Li, certify that, to the best of my knowledge and belief, the information contained in
this disclosure is correct and that I am duly authorised to make this disclosure by all
persons for whom it is made.

Sign Here ____________________________________
Dated: 09 June 2020
Jen Li
Head of Regulatory Reporting, Asia Pacific
Duly authorized under Powers of Attorney by and on behalf of FIL Limited


Investment Manager Address Custodian Nature of Relevant Interest Sum of Numerator Shares

FIL Investment Advisors Pembroke Hall, 42 Crow
Lane, Pembroke,
Bermuda
BROWN BROS HARRIMN
LTD LUX (C)
Investment Discretion / Voting
Power
1,341
FIL Investment
Management
(Australia) Limited
Level 11, 167 Macquarie
Street, Sydney, NSW
2000, Australia
BNP PARIBAS SEC SRVS
ITALY
283,126
BROWN BROS HARRIMN
LTD LUX (C)
1,583,499
HSBC BANK PLC (C) 2,013,490
JPMORGAN CHASE BANK
NA LDN
354,277
NATIONAL ASTL BK
MELBOURNE (S)
148,997
NORTHERN TRUST LONDON
(C)
681,235
FIL Investment
Management (Hong
Kong) Limited
Level 21, Two Pacific
Place, 88 Queensway,
Admiralty, Hong Kong
BROWN BROS HARRIMN
LTD LUX (C)
1,380,649
CLEARSTREAM BANKING SA
LUX (C)
155,370
LANDESBANK BADEN-
WUERTTEMBERG
300,028
FIL Limited Pembroke Hall, 42 Crow
Lane, Pembroke,
Bermuda
STATE STREET BANK AND TR
CO
2,258
FIL Responsible Entity
(Australia) Limited
Level 11, 167 Macquarie
Street, Sydney, NSW
2000, Australia
JP MORGAN,
BOURNEMOUTH (C)
2,757,302

Grand Total

9,661,572