Nominations open for Fonterra Board of Directors’ Election

NEWS RELEASE



9 August 2024 For Immediate Release


NOMINATIONS DOCUMENTS READY FOR FONTERRA BOARD OF DIRECTORS’ ELECTION

Nominations for the Fonterra Board of Directors’ Election open on Friday 9 August, with an election
to be held for two farmer-elected Directors.

This year, Leonie Guiney, Peter McBride and John Nicholls retire by rotation. Both Peter McBride
and John Nicholls have confirmed that they will be standing for re-election while Leonie Guiney is
retiring from the Board.

The Independent Assessment Process will be run first, with a nomination period of 9 - 23 August
2024. The Independently Assessed Candidates will be rigorously assessed by an Independent
Assessment Panel of three highly respected governance experts. This year, the Panel comprises
Dame Joan Withers (Chair of The Warehouse Group Limited), Patrick Strange (Chair of Auckland
International Airport Limited) and Mark Verbiest (Chair of Meridian Energy and Summerset Group
Holdings). Their role is to shortlist and recommend the best candidates to Fonterra’s shareholders.

The Returning Officer will announce the Independent Assessment Process candidates on Monday 23
September.

The Non-Assessment Process - where farmers can put themselves forward as a candidate for the
Board outside the Independent Assessment Process - will follow, with the nomination period running
from 23 September - 3 October 2024.

The Returning Officer will confirm all Directors’ Election candidates on Friday 4 October.

The Director Election will be held using the first past the post system via postal and online voting by
eligible Fonterra shareholders.

The Independent Assessment Panel search brief along with the Candidate Handbook are now
available from the Returning Officer, Warwick Lampp, from electionz.com. These documents provide
prospective Director candidates with information on all aspects of the Election process, including
details of the skills and attributes that the Board is looking for in 2024.

Nominations for the Fonterra Co-operative Council and the Directors’ Remuneration Committee
Elections will be called for on Tuesday 17 September, and close at 12 noon on Thursday 3 October.

Fonterra supplying shareholders are eligible to stand in the Fonterra Elections. Candidates must
satisfy eligibility requirements to be elected and further procedural requirements are specified in the
Election rules and the Candidate Handbooks.



Warwick Lampp
Returning Officer – 2024 Fonterra Elections
Email: wlampp@electionz.com
Mobile: 021 498 517
Election Helpline: Free Phone 0800 666 034