SPH Notice - The a2 Milk Company (New Zealand) Limited

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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 NZX
and
To Synlait Milk Limited
Relevant event being disclosed: Change in nature in relevant interest
Date of relevant event: 1 October 2024
Date this disclosure made: 1 October 2024
Date last disclosure made: 23 March 2020
Substantial product holder(s) giving disclosure
Full name(s): The a2 Milk Company (New Zealand) Limited (“a2MC NZ”)
Summary of substantial holding
Class of quoted voting products: Ordinary shares in Synlait Milk Limited (NZX/ASX Code:
SML)
Summary for a2MC NZ
For this disclosure,—
(a) total number held in class: 119,635,613
(b) total in class: 603,198,098
(c) total percentage held in class: 19.834%
For last disclosure,—
(a) total number held in class: 35,574,646
(b) total in class: 179,306,908
(c) total percentage held in class: 19.840%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure: Entry by a2MC NZ into a
voluntary escrow deed poll in respect of 76,283,104 ordinary shares in Synlait Milk Limited
dated 1 October 2024 (11 pages, attached) under which a2MC NZ’s power to dispose of
those shares is qualified by a2MC NZ undertaking to not sell, assign or otherwise dispose,
or transfer the effective control, of the 76,283,104 shares issued to a2MC NZ under a
placement on 1 October 2024 for a period of 12 months from the date of allotment of such
shares, subject to certain exceptions, including a transfer under a takeover offer, scheme
of arrangement or share buyback, a transfer to a related company, a transfer under a
security interest in favour of any bona fide lender, a transfer to a wholesale, institutional or
sophisticated investor who agrees to be bound by an equivalent transfer restriction under a

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deed poll for the remainder of the 12 month period, or if Synlait Milk Limited issues a
cleansing notice at the time of any sale, or as a result of a requirement of applicable law.
Details after relevant event
Details for a2MC NZ
Nature of relevant interest(s): Beneficial owner of ordinary shares in Synlait Milk Limited.
For that relevant interest,—
(a) number held in class: 119,635,613
(b) percentage held in class: 19.834%
(c) current registered holder(s): Citicorp Nominees Pty Limited
(d) registered holder(s) once transfers are registered: Not applicable
The power to dispose of 76,283,104 shares is qualified by the voluntary escrow deed poll
referred to above (11 pages, attached).
Additional information
Address(es) of substantial product holder(s): Level 10, 51 Shortland Street, Auckland,
1010, New Zealand
Contact details: Jaron McVicar, +61 2 9697 7000, jaron.mcvicar@a2milk.com
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
Certification
I, Jaron McVicar, 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.