Nominations open for Fonterra Board of Directors’ Election

29 August 2025

NOMINATIONS OPEN FOR FONTERRA BOARD OF DIRECTORS’ ELECTION

Nominations for the Fonterra Board of Directors’ Election open on Friday 29 August, with an
election to be held for two farmer-elected Directors.

This year, Andy Macfarlane and Alison Watters retire by rotation. Alison has confirmed that she will
be standing for re-election while Andy will retire from the Board following the 2025 Annual Meeting.

The Independent Assessment Process will be run first, with a nomination period of 29 August - 12
September 2025. The Independently Assessed Candidates will be rigorously assessed by an
Independent Assessment Panel of three highly respected governance experts. This year, the
Panel comprises Mark Verbiest (Chair of Meridian Energy and Summerset Group Holdings),
Patrick Strange (recently retired Chair of Auckland International Airport Limited) and Dame
Therese Walsh (Chair of Air New Zealand Limited and ASB Bank). 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 Tuesday
21 October.

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 21 October - 31 October 2025.

The Returning Officer will confirm all Directors’ Election candidates on Monday 3 November.

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 2025.

Nominations for the Fonterra Co-operative Council, the Directors’ Remuneration Committee and
the Fonterra Farmer Custodian Trust Elections will be called for on Tuesday 14 October, and close
at 12 noon on Friday 31 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.

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Warwick Lampp
Returning Officer – 2025 Fonterra Elections
Email: wlampp@electionz.com
Mobile: 021 498 517
Election Helpline: Free Phone 0800 666 034