Amended SPH Notice - Paradice Investment Management Pty Ltd

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 The A2 Milk Company Ltd
Relevant event being disclosed: A movement of 1% or more in the substantial holding /
change in the nature of any relevant interest in the substantial holding, or both
Date of relevant event: 14
th
May 2026
Date this disclosure made: 15
th
May 2026
Date last disclosure made: 23
rd
April 2026
Substantial product holder(s) giving disclosure
Full name(s): Paradice Investment Management Pty Ltd (ABN 64 090 148 619)
Summary of substantial holding
Class of quoted voting products: ordinary share
Summary for Paradice Investment Management Pty Ltd
For this disclosure,—
(a) total number held in class: 47,372,502
(b) total in class: 725,426,194
(c) total percentage held in class: 6.5303%
For last disclosure,—
(a) total number held in class: 39,307,415
(b) total in class: 725,426,194
(c) total percentage held in class: 5.4185%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure: See Annexure

Details after relevant event
Details for Paradice Investment Management Pty Ltd
Nature of relevant interest(s): See Annexure
For that relevant interest,
(a) number held in class:
(b) percentage held in class:
(c) current registered holder(s): Unknown
(d) registered holder(s) once transfers are registered: See Annexure
Additional information
Address(es) of substantial product holder(s): See Annexure
Contact details: +61 2 8227 7400, Sydney Operations team, syd-operations@paradice.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, Aoife Kemp, 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.


Head of Legal/Company Secretary

ANNEXURE 1
STOCK:
The A2 Milk Company Lt d
1. Details of substantial holder (1)
NAMEACN/ARSN
Paradice Invest ment Management Pt y Lt dABN 64 090 148 619
David Paradice
3. CHANGES IN RELEVANT INTERESTS
DATE OF CHANGEPERSON WHOSE RELEVANT INTEREST CHANGEDNATURE OF CHANGE
CONSIDERATION GIVEN IN
RELATION TO CHANGE $
CLASS & NO. OF
SECURITIES AFFECTED
PERSON'S VOTES
AFFECTED
23/04/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 1,386,054.19 188,880 188,880
28/04/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 1,392,753.80 192,140 192,140
29/04/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 337,969.86 47,378 47,378
30/04/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 3,866,304.30 546,645 546,645
04/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 13,104,018.76 2,025,334 2,025,334
05/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 3,450,953.99 518,186 518,186
06/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 9,912,802.91 1,527,439 1,527,439
07/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 2,703,809.09 411,314 411,314
08/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 127,558.17 19,530 19,530
11/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 164,591.55 25,233 25,233
12/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 4,760,000.31 742,962 742,962
13/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 3,343,008.18 526,409 526,409
14/05/2026
Paradice Invest ment Management Pt y Lt dShare Purchase- 7,914,444.03 1,293,637 1,293,637
Tot al Purchases52,464,269.14-$ 8,065,0878,065,087
Tot al Sales-$ 00
Total-$52,464,269.148,065,0878,065,087
4. PRESENT RELEVANT INTERESTS
Holder of Relevant InterestRegistered Holder of Securities
Person entitled to be registered as
holderNature of Relevant InterestClass & No of SecuritiesPersons Votes
Paradice Invest ment Management Pt y Lt dHSBC Nominees Aust Lt dHSBC Nominees Aust Lt dInvest ment Manager26,695,634.00 26,695,634.00
Paradice Invest ment Management Pt y Lt dCit icorp Nominees Lt dCit icorp Nominees Lt dInvest ment Manager14,966,470.00 14,966,470.00
Paradice Invest ment Management Pt y Lt dJP Morgan Nominees Aust Lt dJP Morgan Nominees Aust Lt dInvest ment Manager5,710,398.00 5,710,398.00
TOTAL47,372,502.00 47,372,502.00
ADDRESSES
NameAddress
Paradice Investment Management Pty LtdL27, Chifley Tower, 2 Chifley Square, Sydney NSW 2000
David ParadiceC/- Lumina. Level 43, 25 Martin Place, Sydney, NSW 2000
Nature of relevant interest
Power to (or control) exercise vote and/or dispose of the securities as
discretionary investment managers or advisers of superannuation funds, pooled
superannuation trusts, managed investment schemes and investment
management agreements.
Relevant interest , where a person is taken to have the same relevant interests as
a body corporate, or managed investment scheme, in which the person's voting
power is over 20%