Nominations open for Fonterra Board of Directors’ Election

NEWS RELEASE



31 July 2020 For Immediate Release


NOMINATIONS DOCUMENTS READY FOR FONTERRA BOARD OF DIRECTORS’ ELECTION

Nominations for the Fonterra Board of Directors’ Election open on Friday, 31 July with an election to
be held for two farmer-elected Directors.

This year John Monaghan and Brent Goldsack retire by rotation. John Monaghan is retiring from the
Board, Brent Goldsack has confirmed that he will be standing for re-election this year.

The Independent Assessment Process will be run first with a nomination period of 31 July to 14
August 2020. The Independently Assessed Candidates will be rigorously assessed by an
independent Selection Panel of three highly respected governance experts. This year, the Panel
comprises Tony Carter (Chairman of Fisher & Paykel Healthcare, TR Group and Datacom Group),
Joan Withers (Chair of The Warehouse Group) and Rob Campbell (Chair of Skycity Entertainment
Group, Summerset, Tourism Holdings and WEL Networks). Their role is to shortlist and recommend
the best candidates to Fonterra’s Shareholders.

The Returning Officer will announce the Independent Nomination Process candidates on Monday 14
September 2020.

The Non-Assessment Process, where farmers can put themselves forward as a candidate for the
Board outside the Independent Assessment Process, will follow with the nomination period running
from 14 - 24 September 2020.

The Returning Officer will confirm all Farmer Directors’ Election candidates on 25 September 2020.

The Directors’ Election will be held using the ‘first past the post’ system via postal and online voting
by Fonterra shareholders.

The Independent Selection Panel search brief along with the Candidate Handbook are now available
from the Returning Officer, Warwick Lampp from electionz.com. These documents provide
prospective Director candidates with information on all aspects of the Election process including
details of the skills and attributes that the Board is looking for in 2020.

Nominations for the Shareholders’ Council and the Directors’ Remuneration Committee Elections will
be called for on 8 September, and close at 12 noon on Thursday 24 September.

Fonterra shareholders are eligible to stand for the Fonterra Elections. Candidates must satisfy
eligibility requirements to be elected and further procedural requirements are specified in the Election
rules and the Candidate Handbooks.



Warwick Lampp
Returning Officer – 2020 Fonterra Elections
Email: iro@electionz.com
Mobile: 021 498 517
Election Helpline: Free Phone 0800 666 034