SPH Notice – The Goldman Sachs Group, Inc.

1

Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013

To NZX Limited
and
To The A2 Milk Company Limited (ATM)

Date this disclosure made: 29 March 2022
Date last disclosure made: 18 March 2022
Date on which substantial holding ceased: 21 March 2022
Substantial product holder(s) giving disclosure
Full name(s): The Goldman Sachs Group, Inc. (“GSGI”) on behalf of itself and its subsidiaries
(“Goldman Sachs Group”) including its significant subsidiaries listed in Annexure A.

Summary of previous substantial holding
Class of quoted voting products: Ordinary shares
Summary for GSGI on behalf of itself and the Goldman Sachs Group.

For last disclosure,—
(a) total number held in class: 41,195,535
(b) total in class: 743,656,528
(c) total percentage held in class: 5.5396%

For current holding after ceasing to have substantial holding,—
(a) total number held in class: 35,207,250
(b) total in class: 743,656,528
(c) total percentage held in class: 4.7343%

Details of transactions and events giving rise to ceasing of substantial holding
Details of the transactions or other events requiring disclosure: Please see Annexure B.

Additional information

Address(es) of substantial product holder(s):

The Goldman Sachs Group, Inc. - Corporation Trust Center, 1209 Orange Street, Wilmington DE
19801, U.S.A.

Goldman Sachs International (GSI) - Plumtree Court, 25 Shoe Lane, London EC4A 4AU, United
Kingdom

2

Goldman Sachs Asset Management L.P. (GSAMLP) - Corporation Trust Center, 1209 Orange Street,
Wilmington DE 19801, USA

Goldman Sachs Financial Markets Pty Ltd (GAUS) - Level 17, 101 Collins Street, Melbourne,
Victoria 3000, Australia

Goldman Sachs & Co. LLC (GSCO) - 200 West Street, New York, NY 10282, USA

Goldman Sachs Asset Management International (GSAMI) - Plumtree Court, 25 Shoe Lane,
London EC4A 4AU, United Kingdom


Contact details:
Contact person – Noble Sebastian
Contact number - 852 2978 7432
Email - gs-reg-ops-pos-sgp@gs.com

Nature of connection between substantial product holders:

The Goldman Sachs Group, Inc. owns, directly or indirectly, at least 99% of the voting securities of
each of:
 Goldman Sachs International;
 Goldman Sachs Financial Markets Pty Ltd;
 Goldman Sachs & Co. LLC.
 Goldman Sachs Asset Management L.P. and
 Goldman Sachs Asset Management International


Certification
I, Noble Sebastian, declare 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



Print name


Noble Sebastian
(signing under power of attorney)

Capacity

Authorised Person

Sign here




Date

29 March 2022

3

Annexure A

Significant Subsidiaries of The Goldman Sachs Group, Inc.

The following are significant subsidiaries of The Goldman Sachs Group, Inc. as of December 31, 2021 and the
states or jurisdictions in which they are organized. Each subsidiary is indented beneath its principal parent. The
Goldman Sachs Group, Inc. owns, directly or indirectly, at least 99% of the voting securities of substantially all of
the subsidiaries included below. The names of particular subsidiaries have been omitted because, considered in
the aggregate as a single subsidiary, they would not constitute, as of the end of the year covered by this report, a
“significant subsidiary” as that term is defined in Rule 1-02(w) of Regulation S-X under the Securities Exchange
Act of 1934.

4




THE GOLDMAN SACHS GROUP, INC AND ITS SUBSIDIARIES


Signature



Print name


Noble Sebastian
(signing under power of attorney)

Capacity

Authorised Person

Sign here




Date

29 March 2022

5


Annexure B
Date of
change
Person whose
relevant
interest
changed
Nature of Change
Consideration
given in relation
to change (NZD)
Number of
Securities
Class
02/23/2022 GSI
Sell
575,504

94,633 Ordinary
02/23/2022 GAUS
Sell
718,851

117,997 Ordinary
02/24/2022 GSI
Sell
649,159

113,560 Ordinary
02/24/2022 GAUS
Sell
109,774

18,022 Ordinary
02/24/2022 GAUS
Sell
378,331

62,112 Ordinary
02/25/2022 GSI
Sell
328,599

56,780 Ordinary
02/28/2022 GSI Buy 42,447 7,134 Ordinary
02/28/2022 GSI Buy 24,645 4,142 Ordinary
02/28/2022 GSI Return of Borrowed Securities N/A 5,952 Ordinary
02/28/2022 GSI Return of Borrowed Securities N/A 2,688 Ordinary
02/28/2022 GAUS
Sell
147,751

25,484 Ordinary
02/28/2022 GAUS
Sell
4,354

751 Ordinary
03/01/2022 GSI Buy 1,534 254 Ordinary
03/01/2022 GSAMI Buy 15,618 2,590 Ordinary
03/01/2022 GSI Return of Borrowed Securities N/A 4,377 Ordinary
03/01/2022 GSI
Sell
373,351

63,089 Ordinary
03/01/2022 GAUS
Sell
54,089

9,140 Ordinary
03/02/2022 GSI Buy 444,655 74,875 Ordinary
03/02/2022 GSAMLP Buy 64,056 10,743 Ordinary
03/02/2022 GAUS
Buy
168

28 Ordinary
03/03/2022 GSI Buy 12,810 2,181 Ordinary
03/03/2022 GSI Return of Borrowed Securities N/A 400,000 Ordinary
03/03/2022 GSI
Sell
223

38 Ordinary
03/03/2022 GSI
Buy
223

38 Ordinary
03/03/2022 GSI
Sell
625,075

107,251 Ordinary
03/03/2022 GAUS
Sell
150,996

25,484 Ordinary
03/03/2022 GAUS
Buy
5,421

915 Ordinary

6

03/04/2022 GSI Buy 820 142 Ordinary
03/04/2022 GAUS
Buy
5,336

919 Ordinary
03/07/2022 GSI Buy 25,419 4,488 Ordinary
03/07/2022 GAUS
Buy
27,468

4,755 Ordinary
03/08/2022 GSI Return of Borrowed Securities N/A 32,944 Ordinary
03/08/2022 GSI
Sell
356,901

63,088 Ordinary
03/09/2022 GSI Buy 105,243 18,437 Ordinary
03/09/2022 GSCO Borrow of Securities N/A 1,500,000 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 999,999 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 801,253 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 750,000 Ordinary
03/09/2022 GSCO Borrow of Securities N/A 590,259 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 500,000 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 500,000 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 460,000 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 275,632 Ordinary
03/09/2022 GSCO Return of Borrowed Securities N/A 200,000 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 53,514 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 40,566 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 26,272 Ordinary
03/09/2022 GSCO Return of Borrowed Securities N/A 22,110 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 6,033 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 403 Ordinary
03/09/2022 GSI Return of Borrowed Securities N/A 403 Ordinary
03/10/2022 GSI Buy 20,044 3,473 Ordinary
03/10/2022 GSCO
Sell
6

1 Ordinary
03/10/2022 GSCO
Buy
6

1 Ordinary
03/10/2022 GAUS
Buy
11,852,898

2,055,489 Ordinary
03/10/2022 GAUS
Buy
1,070,688

185,675 Ordinary
03/10/2022 GSI
Sell
728,208

126,049 Ordinary
03/11/2022 GSI Return of Borrowed Securities N/A 200,000 Ordinary
03/11/2022 GSI Return of Borrowed Securities N/A 79,000 Ordinary
03/11/2022 GAUS
Buy
7,764,698

1,343,232 Ordinary
03/14/2022 GSI Buy 19,901 3,582 Ordinary
03/14/2022 GSAMLP Buy 801 143 Ordinary
03/14/2022 GSCO Borrow of Securities N/A 2,400,000 Ordinary
03/14/2022 GSCO Borrow of Securities N/A 1,000,000 Ordinary
03/14/2022 GSCO Return of Borrowed Securities N/A 79,959 Ordinary

7

03/14/2022 GAUS
Buy
521,405

93,366 Ordinary
03/14/2022 GAUS
Sell
9,120,306

1,633,139 Ordinary
03/15/2022 GSI Sell 12,124 2,210 Ordinary
03/15/2022 GSI Buy 17,287 3,149 Ordinary
03/15/2022 GAUS
Buy
1,843,977

334,330 Ordinary
03/15/2022 GSI
Sell
155,514

28,360 Ordinary
03/15/2022 GAUS
Sell
41,901

7,597 Ordinary
03/15/2022 GAUS
Buy
343,703

62,836 Ordinary
03/16/2022 GSI Buy 855 155 Ordinary
03/16/2022 GSI Sell 76,094 13,807 Ordinary
03/16/2022 GSI Sell 38,149 6,924 Ordinary
03/16/2022 GSI Buy N/A 6,926 Ordinary
03/16/2022 GSI Borrow of Securities N/A 1,570,000 Ordinary
03/16/2022 GSCO Return of Borrowed Securities N/A 819,873 Ordinary
03/16/2022 GSCO Return of Borrowed Securities N/A 500,000 Ordinary
03/16/2022 GSCO Return of Borrowed Securities N/A 223,871 Ordinary
03/16/2022 GSCO Return of Borrowed Securities N/A 4,782 Ordinary
03/16/2022 GAUS
Sell
103,603

18,852 Ordinary
03/16/2022 GSI
Sell
692,717

126,049 Ordinary
03/16/2022 GSI
Sell
346,356

63,024 Ordinary
03/16/2022 GAUS
Buy
359,419

65,180 Ordinary
03/17/2022 GSI Sell 74,225 12,956 Ordinary
03/17/2022 GAUS
Sell
11,994,426

2,128,443 Ordinary
03/17/2022 GSI
Buy
133,902

23,318 Ordinary
03/17/2022 GSI
Sell
55,724

9,706 Ordinary
03/17/2022 GSI
Sell
1,187,634

207,981 Ordinary
03/17/2022 GAUS
Sell
357,791

63,491 Ordinary
03/18/2022 GSI Sell N/A 136,440 Ordinary
03/18/2022 GSI Sell 28,062 4,855 Ordinary
03/18/2022 GSI
Sell
4,535

783 Ordinary
03/18/2022 GAUS
Buy
130,480

22,767 Ordinary
03/21/2022 GSCO Return of Borrowed Securities N/A 3,000,000 Ordinary

8

03/21/2022 GSCO Return of Borrowed Securities N/A 690,104 Ordinary
03/21/2022 GSCO Return of Borrowed Securities N/A 458,182 Ordinary
03/21/2022 GSI
Buy
653,636

111,500 Ordinary
03/21/2022 GAUS
Sell
5,339,902

919,877 Ordinary
03/21/2022 GAUS
Sell
21,995

3,789 Ordinary
03/21/2022 GAUS
Buy
203,143

34,672 Ordinary


Signature



Print name


Noble Sebastian
(signing under power of attorney)

Capacity

Authorised Person

Sign here




Date

29 March 2022