SPH Notice – FIL Limited

1
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To New Zealand Stock Exchange
and
To Synlait Milk Limited
Relevant event being disclosed: Movement of 1% or more in the substantial holding
Date of relevant event:17 March 2021
Date this disclosure made: 19 March 2021
Date last disclosure made: 20 November 2020
Substantial product holder(s) giving disclosure
Full name(s): FIL Limited and the entities listed in Annexure A (“FIL”)
Summary of substantial holding
Class of quoted voting products: ordinary share
Summary for [name of substantial product holder(s)]
For this disclosure,—
(a) total number held in class:17,032,277
(b) total in class: 218,581,661
(c) total percentage held in class: 7.792%
For last disclosure,—
(a) total number held in class: 14,261,922
(b) total in class: 212,151,909
(c) total percentage held in class: 6.723%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
Date of Change Person whose
relevant interest
changed
Nature of
change (6)
Consideration
given in
relation to
change (7)
Class and
number of
securities
affected
Person’s votes
affected

COMMON
STOCK
COMMON
STOCK
19/11/2020 FIL
PRIORITY
OFFER
4.8312 AUD 9,728 9,728
19/11/2020 FIL
PRIORITY
OFFER
4.8312 AUD 9,728 9,728
20/11/2020 FIL BUY 5.3263 AUD 270,898 270,898

2
23/11/2020 FIL BUY 5.3326 AUD 368,897 368,897
01/12/2020 FIL BUY 5.1850 AUD 99,593 99,593
01/12/2020 FIL BUY 5.1850 AUD 99,593 99,593
03/12/2020 FIL BUY 4.9559 AUD 166,223 166,223
08/12/2020 FIL BUY 5.1927 AUD 128,206 128,206
08/12/2020 FIL BUY 5.4500 NZD 7,105 7,105
08/12/2020 FIL BUY 5.4500 NZD 16,722 16,722
08/12/2020 FIL BUY 5.1927 AUD 18,388 18,388
09/12/2020 FIL BUY 5.2254 AUD 44,535 44,535
09/12/2020 FIL BUY 5.2254 AUD 6,388 6,388
30/12/2020 FIL BUY 4.8401 AUD 2,165 2,165
31/12/2020 FIL BUY 4.8959 AUD 97,370 97,370
04/01/2021 FIL BUY 4.9271 AUD 9,623 9,623
05/01/2021 FIL BUY 4.8493 AUD 74,776 74,776
25/01/2021 FIL BUY 4.6600 NZD 449 449
03/02/2021 FIL BUY 4.3605 AUD 81,954 81,954
15/02/2021 FIL BUY 4.0046 AUD 2,392 2,392
17/02/2021 FIL BUY 3.9965 AUD 221,801 221,801
18/02/2021 FIL BUY 4.0163 AUD 151,945 151,945
26/02/2021 FIL BUY 4.0177 NZD 14,996 14,996
26/02/2021 FIL BUY 4.0177 NZD 35,144 35,144
01/03/2021 FIL BUY 3.9800 NZD 9,359 9,359
01/03/2021 FIL BUY 3.9800 NZD 21,933 21,933
03/03/2021 FIL BUY 3.9100 NZD 8,786 8,786
03/03/2021 FIL BUY 3.9100 NZD 20,596 20,596
03/03/2021 FIL BUY 3.6445 AUD 18,231 18,231
08/03/2021 FIL BUY 3.3550 AUD 38,685 38,685
10/03/2021 FIL BUY 3.4458 AUD 136,502 136,502
10/03/2021 FIL BUY 3.7052 NZD 19,145 19,145
10/03/2021 FIL BUY 3.7052 NZD 44,859 44,859
10/03/2021 FIL BUY 3.4458 AUD 14,607 14,607
10/03/2021 FIL SELL 3.7100 NZD 451 451
11/03/2021 FIL BUY 3.4700 AUD 98,199 98,199
11/03/2021 FIL BUY 3.7300 NZD 11,414 11,414
11/03/2021 FIL BUY 3.7300 NZD 26,744 26,744
11/03/2021 FIL BUY 3.4700 AUD 10,508 10,508
15/03/2021 FIL BUY 3.5099 AUD 22,830 22,830
15/03/2021 FIL BUY 3.5099 AUD 9,626 9,626
15/03/2021 FIL BUY 3.5099 AUD 9,626 9,626
15/03/2021 FIL BUY 3.5099 AUD 2,200 2,200
16/03/2021 FIL BUY 3.5680 AUD 14,031 14,031
16/03/2021 FIL BUY 3.5680 AUD 5,916 5,916
16/03/2021 FIL BUY 3.5680 AUD 5,916 5,916
16/03/2021 FIL BUY 3.5680 AUD 1,812 1,812
17/03/2021 FIL BUY 3.7619 AUD 144,884 144,884
17/03/2021 FIL BUY 3.7619 AUD 61,084 61,084
17/03/2021 FIL BUY 3.7619 AUD 61,084 61,084
17/03/2021 FIL BUY 3.7619 AUD 13,610 13,610

Total Buys
2,751,350 2,751,350

Total Sells (451) (451)

Total Priority
Offer
19,456 19,456

Total Movement 2,770,355 2,770,355

3
Details after relevant event
Details for Refer to Annexure A
Nature of relevant interest(s): Investment discretion and/or voting power
For that relevant interest,—
(a) number held in class: Refer to Annexure A
(b) percentage held in class: Refer to Annexure A
(c) current registered holder(s): Refer to Annexure A
(d) registered holder(s) once transfers are registered: N/A
For a derivative relevant interest, also—
(a) type of derivative: N/A
(b) details of derivative: N/A
(c) parties to the derivative: N/A
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative:
Additional information
Address(es) of substantial product holder(s): Refer to Annexure A
Contact details: Jen Li, Head of Regulatory Reporting, C/O FIL Asia Holdings Pte Limited,
+852 2629 2657, apac.regulatory.filings@fil.com
*Nature of connection between substantial product holders:
*Omit if disclosure is made for only 1 substantial product holder.
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: N/A
*Disclosure has effect for purposes of directors’ and senior managers’ disclosure
[Name] is also a [specify either director or senior manager] of [name of listed issuer].
This disclosure also constitutes disclosure for the purposes of the directors’ and senior
managers’ disclosure obligations.
*Omit if inapplicable (see section 302 of the Financial Markets Conduct Act 2013).

Certification
I, Jen Li, 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.

4






Dated: 19 March 2021
Jen Li
Head of Regulatory Reporting, Asia Pacific
Duly authorized under Powers of Attorney by and on behalf of FIL Limited


Annexure A


Investment
Manager
Address Custodian
Nature of Relevant
Interest
Sum of
Numerator
Shares

FIL Investment
Advisors
Pembroke Hall,
42 Crow Lane,
Pembroke,
Bermuda
BROWN BROS
HARRIMN LTD LUX (C)
Investment Discretion /
Voting Power
1,339
FIL Investment
Management
(Australia)
Limited
Level 11, 167
Macquarie Street,
Sydney, NSW
2000, Australia
BROWN BROS
HARRIMN LTD LUX (C)
1,711,086
BROWN BROTHERS
HARRIMAN AND CO
3,910
CITIBANK LONDON 218,969
HSBC BANK PLC (C) 2,182,903
JP MORGAN,
BOURNEMOUTH (C)
258,675
NATIONAL ASTL BK
MELBOURNE (S)
313,937
NORTHERN TRUST
LONDON (C)
1,117,414
STATE STREET
LUXEMBOURG
410,985
FIL Investment
Management
(Hong Kong)
Limited
Level 21, Two
Pacific Place, 88
Queensway,
Admiralty, Hong
Kong
BROWN BROS
HARRIMN LTD LUX (C)
4,956,510
CLEARSTREAM
BANKING SA LUX (C)
527,589

5
LANDESBANK BADEN-
WUERTTEMBERG
827,199
FIL Investment
Management
(Singapore)
Limited
8 Marina View,
#35-06, Asia
Square Tower 1,
018960,
Singapore
NORTHERN TRUST
LONDON (C)
352,438
FIL Limited
Pembroke Hall,
42 Crow Lane,
Pembroke,
Bermuda
STATE STREET BANK
AND TR CO
4,650
FIL Responsible
Entity
(Australia)
Limited
Level 11, 167
Macquarie Street,
Sydney, NSW
2000, Australia
JP MORGAN,
BOURNEMOUTH (C)
4,144,673

Grand Total

17,032,277