Capital Change Notice

Capital Change Notice

Updated as at June 2023


Notice of issue of Ordinary Shares

This notice is given under NZX Listing Rules 3.13.1 and 3.15.2 and relates to the vesting and
automatic exercise of performance rights and the issue of fully paid Ordinary Shares under ATM’s
Long Term Incentive Plan (LTI Plan).

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 958,594 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

0.133% 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 certain
employees as a result of
performance rights vesting and
being automatically exercised in
connection with ATM’s LTI Plan, as
authorised by a Board Resolution
dated 19 August 2023
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.
722,934,808 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

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

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 19 August
2023 and 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
30/08/2023
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

30/08/2023


Listing Rule 3.15.2 – Performance 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:
1,546,855 performance rights converted into
1,546,855 Ordinary Shares, resulting in:
(a) 958,594 Ordinary Shares being issued
to certain LTI Plan participants; and
(b) 588,261 Ordinary Shares being
transferred by the trustee of the a2MC
Group Employee Share Trust (
Share
Trust
) to certain LTI Plan participants.
These Ordinary Shares were acquired
on-market and are held by the trustee
of the Share Trust to satisfy employee
incentives.
(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:
4,546,473 performance 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).

---

Application for quotation of +securities
Application for quotation of +securities
1 / 6
Announcement Summary
Entity name
THE A2 MILK COMPANY LIMITED
Announcement Type
New announcement
Date of this announcement
Wednesday August 30, 2023
The +securities to be quoted are:
Total number of +securities to be quoted
ASX +security
codeSecurity description
Number of +securities to
be quotedIssue date
A2MORDINARY FULLY PAID958,59430/08/2023
Refer to next page for full details of the announcement
+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities
being converted

Application for quotation of +securities
Application for quotation of +securities
2 / 6
Part 1 - Entity and announcement details
1.1 Name of entity
THE A2 MILK COMPANY LIMITED
We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix
2A of the ASX Listing Rules.
1.2 Registered number type
ARBN
Registration number
158331965
1.3 ASX issuer code
A2M
1.4 The announcement is
1.5 Date of this announcement
30/8/2023
New announcement

Application for quotation of +securities
Application for quotation of +securities
3 / 6
Part 2 - Type of Issue
2.1 The +securities to be quoted are:
2.2 The +securities to be quoted are:
Additional +securities in a class that is already quoted on ASX ("existing class")
+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities
being converted

Application for quotation of +securities
Application for quotation of +securities
4 / 6
Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an
Appendix 3B
Existing +securities converting into additional +securities in an existing class
FROM (Existing Class)
ASX +security code and description
A2MAD : PERFORMANCE RIGHT
TO (Existing Class)
ASX +security code and description
A2M : ORDINARY FULLY PAID
Please state the number of options
that were exercised or other
+convertible securities that were
converted
958,594
The first date the options were
exercised or other +convertible
securities were converted
30/8/2023
The last date the options were
exercised or other +convertible
securities were converted
30/8/2023
Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been
exercised or have all of those convertible securities now been converted)?
The right of the holder of the options or other +convertible securities to receive the +underlying securities is being
satisfied by:
The underlying securities being received by the holder are:
Were the options being exercised or other +convertible securities being converted issued under an +employee
incentive scheme?
Are any of the options being exercised or other +convertible securities being converted held by +key management
personnel (KMP) or an +associate?
Provide details of the KMP or +associates who are exercising options or converting convertible securities
Name of KMPName of registered holder
Number of options being exercised
or other +convertible securities
being converted
Xiao LiPacific Custodians Pty Limited
208,842
Yes
Yes
Intended to be, but are not yet, quoted by ASX
An issue of new +securities
No

Application for quotation of +securities
Application for quotation of +securities
5 / 6
Issue date
30/8/2023
Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued
+securities in that class?
Issue details
Number of +securities to be quoted
958,594
Are the +securities being issued for a cash consideration?
Please describe the consideration being provided for the +securities
Nil
Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the
+securities to be quoted
4.640000
Any other information the entity wishes to provide about the +securities to be quoted
No
Yes

Application for quotation of +securities
Application for quotation of +securities
6 / 6
Part 4 - Issued capital following quotation
Following the quotation of the +securities the subject of this application, the issued capital of the entity will
comprise:
(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one
application for quotation/issuance currently with ASX for processing.)
4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the
+securities subject of this application)
ASX +security code and description
Total number of
+securities on issue
A2M : ORDINARY FULLY PAID722,934,808
4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)
ASX +security code and description
Total number of
+securities on issue
A2MAD : PERFORMANCE RIGHT5,134,734

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
1 / 6
Announcement Summary
Entity name
THE A2 MILK COMPANY LIMITED
Date of this announcement
Wednesday August 30, 2023
The +securities the subject of this notification are:
Total number of +securities to be issued/transferred
ASX +security
codeSecurity description
Total number of
+securities to be
issued/transferredIssue date
A2MORDINARY FULLY PAID588,26130/08/2023
Refer to next page for full details of the announcement
Unquoted options that have been exercised or other unquoted +convertible securities that have been converted

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
2 / 6
Part 1 - Entity and announcement details
1.1 Name of entity
THE A2 MILK COMPANY LIMITED
We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.
1.2 Registered number type
ARBN
Registration number
158331965
1.3 ASX issuer code
A2M
1.4 The announcement is
1.5 Date of this announcement
30/8/2023
New announcement

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
3 / 6
Part 2 - Issue details
2.1 The +securities the subject of this notification are:
2.2b The +securities being issued, transferred or re-classified as a result of the options being exercised or other
+convertible securities being converted are:
securities that have already been quoted on ASX ("existing class")
Unquoted options that have been exercised or other unquoted +convertible securities that have been converted

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
4 / 6
Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to
ASX in an Appendix 3B
The right of the holder of the options or other +convertible securities to receive the +underlying securities is being
satisfied by:
The underlying securities being received by the holder are:
Existing +securities converting into an existing class
FROM (Existing Class)
ASX +Security code and description
A2MAD : PERFORMANCE RIGHT
TO (Existing Class)
ASX +Security code and description
A2M : ORDINARY FULLY PAID
Please state the number of options
that were exercised or other
+convertible securities that were
converted
588,261
The first date the options were
exercised or other +convertible
securities were converted
30/8/2023
The last date the options were
exercised or other +convertible
securities were converted
30/8/2023
Is this all of the options or other +convertible securities on issue of that type?
Were the options being exercised or other +convertible securities being converted issued under an +employee
incentive scheme?
Are any of the options being exercised or other +convertible securities being converted held by +key management
personnel (KMP) or an +associate?
Provide details of the KMP or associates who are exercising options or converting convertible securities.
Name of KMPName of registered holderNumber of +securities
David BortolussiDMZSK Pty Ltd <D&M Bortolussi
Family Trust A/c>
478,577
Date the +securities the subject of this notification were issued/transferred
30/8/2023
Any other information the entity wishes to provide about the +securities the subject of this notification
Exercise satisfied by the transfer of ordinary shares previously purchased on-market.
Yes
Yes
No
Already quoted by ASX
A transfer of existing +securities

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
5 / 6
Issue details
Number of +securities
588,261

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
6 / 6
Part 4 - +Securities on issue
Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of
the entity will comprise:
(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one
application for quotation/issuance currently with ASX for processing.)
4.1 Quoted +Securities (Total number of each +class of +securities quoted)
ASX +security code and description
Total number of
+securities on issue
A2M : ORDINARY FULLY PAID721,976,214
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
ASX +security code and description
Total number of
+securities on issue
A2MAD : PERFORMANCE RIGHT5,505,067