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:
24/09/2020
Date of last disclosure:
28/04/2020
Director or senior manager giving disclosure
Full name(s):
Race Strauss
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Chief Financial Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
(1) Unlisted time-based rights (Time-based
Rights) representing an entitlement to acquire fully
paid ordinary shares in the Company (Ordinary
Shares).
(2) Ordinary Shares.
Nature of the affected relevant interest(s):
Spouse of registered holder and beneficial owner
For that relevant interest-
Number held in class before acquisition or disposal:
15,101 Time-based Rights
(Note existing relevant interests in other securities
on the following page.)
Number held in class after acquisition or disposal:
(1) 7,551 Time-based Rights
(2) 7,550 Ordinary Shares
(Note existing relevant interests in other securities
on the following page.)
Current registered holder(s):
Natolie Strauss
Registered holder(s) once transfers are registered:
Natolie Strauss
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:
23/09/2020
Nature of transaction:
Vesting and automatic exercise of 7,550 Time-
based Rights resulting in the acquisition of 7,550
Ordinary Shares.
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:Nil
Number of financial products to which the transaction related:
7,550 Time-based Rights
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:
Unlisted performance rights representing an
entitlement to acquire Ordinary Shares in the
Company (Performance Rights)
Nature of relevant interest:
Spouse of registered holder and beneficial owner
For that relevant interest,-
Number held in class:
70,600 Performance Rights due to vest in August
2022 provided certain performance conditions are
met
Current registered holder(s):
Natolie Strauss
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:
24/09/20

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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:
24/09/2020
Date of last disclosure:
27/08/2020
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:
(1)Unlisted performance rights
representing an entitlement to acquire
O
rdinary Shares in the Company
(Performance Rights).
(2)Ordinary Shares.
Nature of the affected relevant interest(s):
(1)Legal and beneficial owner.
(2)Legal and beneficial owner.
For that relevant interest-
Number held in class before acquisition or disposal:
(1)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 t
o
vest in August 2022 provided certain
performance conditions are met.
(2)100,000 Ordinary Shares
(Note existing relevant interests in other
securities on the following page)
Number held in class after acquisition or disposal:
(1)187,553 Performance Rights as
follows:
(a)
110,
532 Performance Rights due t
o
vest in August 2021 provided certain
per
formance conditions are met.
(b)
77,021 Performance Rights due to
v
est in August 2022 provided certai
n
performance conditions are met.
(2)420,
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: 1
Details of transactions requiring disclosure-
Date of transaction:
23/09/2020
Nature of transaction:
Vesting and automatic exercise of
320,000 Performance Rights resulting in
the acquisition of 320,000 Ordinary
Shares.
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:
Nil
Number of financial products to which the transaction related:
320,000 Performance Rights
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 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
Options.
For that relevant interest,-
Number held in class:
(1)20,800 Ordinary Shares
(2)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
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:
24/09/2020