Issue of Shares for Farm Source Dollars for Shares Offer

6 October 2020

ISSUE OF SHARES FOR 2020 FARM SOURCE DOLLARS FOR SHARES OFFER

Fonterra Co-operative Group Limited (FCG) ("Fonterra") has today completed the allotment of co-operative
shares to shareholders under the 2020 Farm Source Dollars for Shares Offer.

For the purposes of Fonterra Shareholders' Market Listing Rule 2.9.1, Fonterra advises the issue of the new
shares under the 2020 Farm Source Dollars for Shares Offer as follows:
Class of Security and ISIN: Ordinary Shares NZFCGE0001S7
Number issued: 122,582
Issue price: NZD $3.98
Payment in Cash: NZD $487,876.36
Amount paid up: Fully paid
Percentage total of class of securities issued: .0076%
Reason for issue: Each share was issued pursuant to the terms of the Fonterra 2020 Farm Source Dollars
for Shares Offer
Specific authority for issue: Board resolution pursuant to the terms of the Fonterra 2020 Farm Source
Dollars for Shares Offer
Any terms or details of the issue: The shares will rank equally in all respects with existing co-operative
shares in Fonterra at the date on which they are issued.
Total number of securities on issue after issue (excluding treasury stock): 1,612,219,649
Date of issue: 6 October 2020


-ENDS-

For further information contact:

Fonterra Communications
24-hour media line
Phone: +64 21 507 072