Capital Change Notice

Capital Change Notice

Updated as at 17 October 2019

1 September 2021

Notice of issue of Ordinary Shares

This notice is given under NZX Listing Rule 3.13.1 and 3.15.2 and relates to the automatic
exercise of time-based rights.

Section 1: Issuer information
Name of issuer The a2 Milk Company Limited
NZX ticker code ATM
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZATME0002S8
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 7,551 Ordinary Shares
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security Not applicable
Nature of the payment (for example, cash or
other consideration)
Not applicable
Amount paid up (if not in full) Not applicable
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the
number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
1

0.001% of the total number of Ordinary
Shares on issue at the date of this notice
For an issue of Convertible Financial Products
or Options, the principal terms of Conversion
(for example the Conversion price and
Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial
Product) or the Option (for example, the
exercise price and exercise date)
Not applicable
Reason for issue/acquisition/redemption and
specific authority for
issue/acquisition/redemption/ (the reason for
change must be identified here)
Ordinary Shares issued to an employee as a
result of the automatic exercise of time-
based rights, as authorised by a Board
Resolution dated 27 July 2021.

The time-based rights were granted to an
employee as part of the on-going long term
incentive arrangements that the entity has
adopted to assist in the reward, retention and
motivation of its employees and relevant
contractors.

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Total number of Financial Products of the Class
after the
issue/acquisition/redemption/Conversion
(excluding Treasury Stock) and the total number
of Financial Products of the Class held as
Treasury Stock after the
issue/acquisition/redemption.
743,612,426 Ordinary Shares.

There is no Treasury Stock.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
Not applicable

Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Board Resolution dated 27 July 2021 and
NZX Listing Rule 4.9.1(b).
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
All Ordinary Shares issued rank equally with
the existing Ordinary Shares.
Date of issue/acquisition/redemption
2
1 September 2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Jaron McVicar, Chief Legal and Sustainability
Officer & Company Secretary
Contact person for this announcement Jaron McVicar
Contact phone number +61 2 9697 7000
Contact email address Jaron.McVicar@a2milk.com
Date of release through MAP

1 September 2021

Listing Rule 3.15.2 – Time-based Rights

The following details are provided for the purposes of NZX Listing Rule 3.15.2:

(a) Number of Financial Products
converted and the number and class of
Quoted Financial Products into which
they have been converted:
7,551 time-based rights converted into 7,551
Ordinary Shares
(b) Interest or dividend conditions
attaching to the Financial Products into
which they have been converted:
None
(c) Number of Financial Products of the
same class remaining to be converted:
440,031 time-based rights


2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).