Mainland Group sale unconditional

6 March 2026

Mainland Group sale unconditional

Fonterra Co-operative Group Ltd has today confirmed that the agreement to sell its global
consumer and associated businesses, Mainland Group to Lactalis for $4.22 billion is now
unconditional.

All required regulatory approvals have been received and the separation of Mainland Group from
Fonterra is complete.

With all conditions of the sale satisfied, Fonterra and Lactalis will now proceed to complete the
transaction.

Timing of capital return

In February, Fonterra shareholders voted to approve a capital return of $2.00 per share to
shareholders and unitholders following completion of the transaction.

Fonterra can today advise that it expects the record date to be eligible for the capital return to be 9
April 2026 and the payment date to be 14 April 2026, based off the transaction completing at the
end of March 2026.

Fonterra will confirm the capital return record date and payment date when the transaction
completes.

ENDS

For further information contact:
Philippa Norman
Fonterra Communications
Phone: +64 21 507 072