Disclosure of Relevant Interests

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited ("ATM")
Date this disclosure made:
27/08/2020
Date of last disclosure:
29/04/2020
Director or senior manager giving disclosure
Full name(s):
David Lovat Gordon Hearn
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Chair & Non-Executive Director
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in the Company
(Ordinary Shares)
Nature of the affected relevant interest(s):
Legal and beneficial owner
For that relevant interest-
Number held in class before acquisition or disposal:
1,305,000 Ordinary Shares
Number held in class after acquisition or disposal:
1,055,000 Ordinary Shares
Current registered holder(s):
David Lovat Gordon Hearn
Registered holder(s) once transfers are registered:
Unknown
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
N/A
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:

Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 1
Details of transactions requiring disclosure-
Date of transaction:
24/08/2020
Nature of transaction:
On market sale of 250,000 Ordinary
Shares using broker facilities.
Name of any other party or parties to the transaction (if known):
Unknown
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:NZD 20.31 per Ordinary Share
Number of financial products to which the transaction related:
250,000 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
N/A
Nature of relevant interest:
For that relevant interest,-
Number held in class:
Current registered holder(s):
For a derivative relevant interest,-
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:

Certification
I, 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.
Signature of director or officer:
Date of signature:
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:
27 August 2020

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(1) and 298(1), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited ("ATM")
Date this disclosure made:
27/08/2020
Date of last disclosure:
24/08/2020
Director or senior manager giving disclosure
Full name(s):
Peter Jerrold Nathan
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Chief Executive Asia Pacific
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in the
Company (Ordinary Shares)
Nature of the affected relevant interest(s):
Legal and beneficial owner
For that relevant interest-
Number held in class before acquisition or disposal:
850,000 Ordinary Shares
(Note existing relevant interests in other
securities on the following page)
Number held in class after acquisition or disposal:
100,000 Ordinary Shares
(Note existing relevant interests in other
securities on the following page)
Current registered holder(s):
Peter Jerrold Nathan
Registered holder(s) once transfers are registered:
Peter Jerrold Nathan
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 78
Details of transactions requiring disclosure-

Date of transaction:
(1) 24/08/2020
(2) 25/08/2020
(3) 26/08/2020
Nature of transaction:
On market sale of 750,000 Ordinary
Shares using broker facilities
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
(1) Average price of NZD 20.34 per
Ordinary Share
(2) Average price of NZD 20.12 per
Ordinary Share
(3) Average price of NZD 19.90 per
Ordinary Share
Number of financial products to which the transaction related:
(1) 261,525 Ordinary Shares
(2) 223,000 Ordinary Shares
(3) 265,475 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
(1) Ordinary Shares
(2) Unlisted performance rights
representing an entitlement to acquire
Ordinary Shares (Performance Rights)
(3) Unlisted options to subscribe for
Ordinary Shares (Options)
Nature of relevant interest:
(1) Beneficial owner of securities held by
Spectre Investments Vic Pty Limited.
(2) Legal and beneficial owner of
Performance Rights.
(3) Legal and beneficial owner of
Options.
For that relevant interest,-
Number held in class:
(1) 20,800 Ordinary Shares
(2) 507,553 Performance Rights as
follows:
(a) 320,000 Performance Rights due to
vest in September 2020 provided
certain performance conditions are met.
(b) 110,532 Performance Rights due to
vest in August 2021 provided certain
performance conditions are met.
(c) 77,021 Performance Rights due to
vest in August 2022 provided certain
performance conditions are met.
(3) 800,000 Options
Current registered holder(s):
(1) 20,800 Ordinary Shares held
indirectly and beneficially in the name of
Spectre Investments Vic Pty Limited
(2) Peter Jerrold Nathan
(3) Peter Jerrold Nathan
For a derivative relevant interest,-
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:

Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.
Signature of director or officer:
Date of signature:
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:
27 August 2020

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To
NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited ("ATM")
Date this disclosure made:
27/08/2020
Date of last disclosure:
24/08/2020
Director or senior manager giving disclosure
Full name(s):
Susan Massasso
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Chief Growth and Brand Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in the Company
(Ordinary Shares)
Nature of the affected relevant interest(s):
Beneficial owner
For that relevant interest-
Number held in class before acquisition or disposal:
1,015,747 Ordinary Shares
Number held in class after acquisition or disposal:
474,356 Ordinary Shares
Current registered holder(s):
Massasso Pty Limited
Registered holder(s) once transfers are registered:
Massasso Pty Limited
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
N/A
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:

Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 48
Details of transactions requiring disclosure-
Date of transaction:
(1) 24/08/2020
(2) 24/08/2020
(2) 26/08/2020
Nature of transaction:
(1) On market sale of Ordinary Shares
using broker facilities.
(2) On market purchase of Ordinary Shares
using broker facilities.
(3) On market sale of Ordinary Shares
using broker facilities.
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
(1) Ordinary Shares sold at an average
price of NZD 20.40 per Ordinary Share.
(2) Ordinary Shares purchased at a price of
NZD 20.45 per Ordinary Share.
(3) Ordinary Shares sold at an average
price of NZD 19.87 per Ordinary Share.
Number of financial products to which the transaction related:
(1) 335,746 Ordinary Shares sold.
(2) 27,354 Ordinary Shares purchased.
(3) 232,999 Ordinary Shares sold.
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
N/A
Nature of relevant interest:
For that relevant interest,-
Number held in class:
Current registered holder(s):
For a derivative relevant interest,-
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:

Certification
I, 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.
Signature of director or officer:
Date of signature:
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:
27 August 2020

---

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1
Rule 3.19A.2
Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and
documents given to ASX become ASX’s property and may be made public.
Introduced 30/09/01 Amended 01/01/11

Name of entity
The a2 Milk Company Limited (the Company)
ABN
97 769 415 292


We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for
the director for the purposes of section 205G of the Corporations Act.

Name of Director
David Lovat Gordon Hearn
Date of last notice
29 April 2020

Part 1 - Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should
be disclosed in this part.

Direct or indirect interest
Direct
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
N/A
Date of change
24 August 2020
No. of securities held prior to change
1,305,000 Ordinary Shares
Class
Ordinary Shares
Number acquired
N/A
Number disposed
250,000 Ordinary Shares sold on-market
(NZX) using broker facilities
Value/Consideration
Note: If consideration is non-cash, provide details and estimated
valuation
250,000 Ordinary Shares sold on-market
(NZX) at NZD20.31 per share
No. of securities held after change
1,055,000 Ordinary Shares
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue
of securities under dividend reinvestment plan, participation in buy-
back
On-market sale (NZX) of Ordinary Shares.

Appendix 3Y
Change of Director’s Interest Notice


+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011
Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should
be disclosed in this part.

Detail of contract
N/A
Nature of interest
N/A
Name of registered holder
(if issued securities)
N/A
Date of change
N/A
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
N/A
Interest acquired
N/A
Interest disposed
N/A
Value/Consideration
Note: If consideration is non-cash, provide details
and an estimated valuation
N/A
Interest after change
N/A

Part 3 –
+
Closed period

Were the interests in the securities or contracts detailed above
traded during a
+
closed period where prior written clearance
was required?
No.
If so, was prior written clearance provided to allow the trade to
proceed during this period?
N/A
If prior written clearance was provided, on what date was this
provided?
N/A