Fonterra Annual Meeting Results

5 NOVEMBER 2020

Results of Shareholder voting at Fonterra Annual Meeting

Fonterra shareholders have voted to pass 8 of the 11 resolutions at this year’s Annual Meeting.
Resolutions 9, 10 and 11, which were three ordinary resolutions put forward by a Fonterra shareholder,
were not passed.

The results of the resolutions are:

RESOLUTION RESULT - % in favour
Resolution 1: That no increase of remuneration of Directors be approved 97.34%
Resolution 2: That no increase of remuneration of Shareholders’ Councillors be approved 97.60%
Resolution 3: That no increase of remuneration of members of Directors’ Remuneration Committee be
approved 97.97%
Resolution 4: Appointment of KPMG as auditor and authorisation of the Directors to fix the auditor’s
remuneration 97.67%
Resolution 5: Ratification of appointment of Ms Holly Kramer 95.79%
Resolution 6: Ratification of appointment of Mr Bruce Hassall 91.46%
Resolution 7: Approval of open entry related amendments to the Constitution 96.17%
Resolution 8: Approval of Shareholders’ Council programme and budget 74.71%
Resolution 9: Mr Paterson’s Proposal 39.70%
Resolution 10: Mr Paterson’s Proposal 37.65%
Resolution 11: Mr Paterson’s Proposal 35.62%

-ENDS-

For further information contact:

Fonterra Communications
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Phone: +64 21 507 072