Share trades by Executive Leadership Team

NZX Code: ATM
ASX Code: A2M








31 August 2026
NZX/ASX Market Release


Share trades by Executive Leadership Team

The a2 Milk Company (the Company, or a2MC) advises that, consistent with the approach in 2025 and the previously
communicated view of the Company’s Board, members of its Executive Leadership Team (ELT) have sold shares
equivalent to up to 50% of the a2MC shares received following vesting of FY24 performance rights issued under the
Company’s long-term incentive plan. The shares were sold on-market predominantly to cover tax obligations arising
following the vesting of performance rights.

All ELT members who have had more than one grant of performance rights vest while in an ELT role currently exceed
their Executive Minimum Shareholding Requirement.

Further details of the recent share sales are provided in the NZX Ongoing Disclosure Notices and the ASX Appendix 3Y
attached to this announcement.

The Company separately notes recent share purchases by a number of its non-executive directors.

Authorised for release by the Board of Directors

Pip Greenwood
Chair
The a2 Milk Company Limited


For further information, please contact:

Investors / Analysts
Chante Mueller
Head of Investor Relations
M +61 400 374 133
chante.mueller@a2milk.com




Media – New Zealand
Barry Akers
M +64 21 571 234
barryakers9@gmail.com
Media – Other markets
Rick Willis
M +61 411 839 344
rick@networkfour.com.au

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
31-Aug-2026
Date of last disclosure: 27-Aug-2026
Director or senior manager giving disclosure
Full name(s):
Amanda Hart
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Chief People and Culture Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in ATM (Ordinary Shares)
Nature of the affected relevant interest(s):Registered holder and beneficial owner.
For that relevant interest-
Number held in class before acquisition or disposal:132,850 Ordinary Shares (Note existing relevant interests
in other securities on the following page)
Number held in class after acquisition or disposal:
92,850 Ordinary Shares (Note existing relevant interests
in other securities on the following page)
Current registered holder(s):Amanda Hart
Registered holder(s) once transfers are registered:Amanda Hart
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:
1

Details of transactions requiring disclosure-
Date of transaction:
24-Aug-2026
Nature of transaction: On market sale of 40,000 Ordinary Shares using broker
facilities
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
Average price of NZD 8.04 per Ordinary Share
Number of financial products to which the transaction related:
40,000 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Unlisted performance rights
(Performance Rights) representing an
entitlement to acquire fully paid ordinary
shares (Ordinary Shares) in ATM.
Nature of relevant interest:
Registered holder and beneficial owner
For that relevant interest,-
Number held in class:
(1) 104,049 performance rights of which:
(a) 64,947 are due to vest on a date to be determined
by the Board following the release of ATM's full year
audited results for FY2027 provided certain performance
conditions are met; and
(b) 39,102 are due to vest on a date to be determined
by the Board following release of ATM's full year audited
results for FY2028 provided certain performance
conditions are met.
Current registered holder(s):
(1)(a) & (b) Lac Deamer Hart Pty Ltd.
For a derivative relevant interest,-
Type of derivative:
N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.
Signature of director or officer:
Date of signature:
28-Aug-26
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
31-Aug-2026
Date of last disclosure:
27-Aug-2026
Director or senior manager giving disclosure
Full name(s):Ping (Chopin) Zhang
Name of listed issuer:The a2 Milk Company Limited
Name of related body corporate (if applicable):N/A
Position held in listed issuer:Chief Supply Chain Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in ATM (Ordinary
Shares)
Nature of the affected relevant interest(s):Registered holder and beneficial owner.
For that relevant interest-
Number held in class before acquisition or disposal:136,712 Ordinary Shares (Note existing relevant
interests in other securities on the following page)
Number held in class after acquisition or disposal:
80,134 Ordinary Shares (Note existing relevant
interests in other securities on the following page)
Current registered holder(s):Ping Zhang
Registered holder(s) once transfers are registered:Ping Zhang
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:
1

Details of transactions requiring disclosure-
Date of transaction:
24-Aug-2026
Nature of transaction: On market sale of 56,578 Ordinary Shares using
broker facilities
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
Average price of NZD 7.98 per Ordinary Share
Number of financial products to which the transaction related:
56,578 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Unlisted performance rights
(Performance Rights) representing an
entitlement to acquire fully paid ordinary
shares (Ordinary Shares) in ATM.
Nature of relevant interest:
Registered holder and beneficial owner
For that relevant interest,-
Number held in class:
(1) 147,074 Performance Rights of which:
(a) 92,460 are due to vest on a date to be
determined by the Board following the release of
ATM’s full year audited results for FY2027
provided certain performance conditions are met;
and
(b) 54,614 are due to vest on a date to be
determined by the Board following the release of
ATM's full year audited results for FY2028
provided certain performance conditions are met.
Current registered holder(s):
Ping Zhang
For a derivative relevant interest,-
Type of derivative:
N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.
Signature of director or officer:
Date of signature:
28-Aug-26
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
31-Aug-2026
Date of last disclosure:
27-Aug-2026
Director or senior manager giving disclosure
Full name(s):
David Landt Bortolussi
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Managing Director and Chief Executive Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Ordinary Shares
Nature of the affected relevant interest(s):Beneficial owner
For that relevant interest-
Number held in class before acquisition or disposal:1,572,795 Ordinary Shares (Note existing relevant interests in
other securities on the following page)
Number held in class after acquisition or disposal:1,227,762 Ordinary Shares (Note existing relevant interests in
other securities on the following page)
Current registered holder(s):DMZSK Pty Ltd <D&M Bortolussi Family Trust A/c> which is
the registered holder of 640,383 Ordinary Shares, and DMZSK
Super Pty Ltd <D&M Bortolussi Superannuation Fund A/c>
which is the registered holder of 932,412 Ordinary Shares
Registered holder(s) once transfers are registered:DMZSK Pty Ltd <D&M Bortolussi Family Trust A/c> which is
the registered holder of 640,383 Ordinary Shares, and DMZSK
Super Pty Ltd <D&M Bortolussi Superannuation Fund A/c>
which is the registered holder of 587,379 Ordinary Shares
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal

Total number of transactions to which notice relates:
3
Details of transactions requiring disclosure-
Date of transaction:
(1) 25 August 2026
(2) 26 August 2026
(3) 27 August 2026
Nature of transaction:
(1) On market sale of 232,346 Ordinary Shares using broker
facilities
(2) On market sale of 11,918 Ordinary Shares using broker
facilities
(3) On market sale of 100,769 Ordinary Shares using broker
facilities
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
(1) Average price of NZD 8.46 per Ordinary Share
(2) Average price of NZD 8.62 per Ordinary Share
(3) Average price of NZD 8.32 per Ordinary Share
Number of financial products to which the transaction related:
345,033 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Unlisted performance rights (Performance Rights)
representing an entitlement to acquire fully paid ordinary
shares in ATM (Ordinary Shares).
Nature of relevant interest:
Beneficial owner
For that relevant interest,-
Number held in class:
(1) 862,942 Performance Rights of which:
(a) 538,336 are due to vest on a date to be determined by the
Board following the release of ATM’s full year audited results
for FY2027 provided certain performance conditions are met;
and
(b) 324,606 are due to vest on a date to be determined by the
Board following the release of ATM’s full year audited results
for FY2028 provided certain performance conditions are met
Current registered holder(s):
1)(a) DMZSK Super Pty Ltd <D&M
Bortolussi Superannuation Fund A/c>
(1)(b) DMZSK Pty Ltd <D&M Bortolussi
Family Trust A/c>
For a derivative relevant interest,-
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:

For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.
Signature of director or officer:
Date of signature:30-Aug-26
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
31-Aug-2026
Date of last disclosure:
27-Aug-2026
Director or senior manager giving disclosure
Full name(s):
David Muscat
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Chief Financial Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in ATM (Ordinary Shares)
Nature of the affected relevant interest(s):
Registered holder and beneficial owner.
For that relevant interest-
Number held in class before acquisition or disposal:
235,712 Ordinary Shares (Note existing relevant interests in other
securities on the following page)
Number held in class after acquisition or disposal:
149,712 Ordinary Shares (Note existing relevant interests in other
securities on the following page)
Current registered holder(s):
David Muscat
Registered holder(s) once transfers are registered:
David Muscat
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:
2

Details of transactions requiring disclosure-
Date of transaction:
(1) 24 August 2026
(2) 25 August 2026
Nature of transaction:
(1) On market sale of 82,500 Ordinary Shares using broker facilities
(2) On market sale of 3,500 Ordinary Shares using broker facilities
Name of any other party or parties to the transaction (if known):N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
(1) Average price of NZD 8.11 per Ordinary Share
(2) Average price of NZD 8.38 per Ordinary Share
Number of financial products to which the transaction related:
86,000 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Unlisted performance rights (Performance Rights) representing an
entitlement to acquire fully paid ordinary shares (Ordinary Shares) in
ATM.
Nature of relevant interest:
Registered holder and beneficial owner
For that relevant interest,-
Number held in class:
1) 231,811 Performance Rights of which:
(a) 144,652 are due to vest on a date to be determined by the Board
following the release of ATM’s full year audited results for FY2027
provided certain performance conditions are met; and
(b) 87,159 are due to vest on a date to be determined by the Board
following the release of ATM’s full year audited results for FY2028
provided certain performance conditions are met.
Current registered holder(s):
(1) (a) David Muscat
(1) (b) Kathryn Anne Muscat
For a derivative relevant interest,-
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.
Signature of director or officer:
Date of signature:
28-Aug-2026
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
31-Aug-2026
Date of last disclosure:
27-Aug-2026
Director or senior manager giving disclosure
Full name(s):
Jaron James McVicar
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:Managing Director - ANZ and Sustainability
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in ATM
(
Ordinary
Shares
)
Nature of the affected relevant interest(s):
Regist ered holder and benef icial ow ner
For that relevant interest-
Number held in class before acquisition or disposal:
207,045 Ordinary Shares.Ordinary Shares
(Note existing relevant interests in other
securities on the following page)
Number held in class after acquisition or disposal:142,450 Ordinary Shares (Note existing
relevant interests in other securities on the
following page)
Current registered holder(s):
Jaron James McVicar holds 117,855
Ordinary Shares and Charlotte Mary
McVicar holds 89,190 Ordinary Shares.
Registered holder(s) once transfers are registered:
Jaron James McVicar holds 97,855 Ordinary
Shares and Charlotte Mary McVicar holds
44,595 Ordinary Shares.
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal

Total number of transactions to which notice relates:
1
Details of transactions requiring disclosure-
Date of transaction:
24-Aug-2026
Nature of transaction:
On market sale of 64,595 Ordinary Shares
using broker facilities
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
Average price of NZD 8.07 per Ordinary
Share
Number of financial products to which the transaction related:
64,595 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Unlist ed perf ormance right s
(
Performance Rights
) represent ing an
ent it lement t o acquire f ully paid ordinary
shares (
Ordinary Shares
) in ATM.
Nature of relevant interest:
Regist ered holder and benef icial ow ner
For that relevant interest,-
Number held in class:
(1) 125,040 Performance Rights of which:
(a) 76,437 are due to vest on a date to be
determined by the Board following the
release of ATM’s full year audited results for
FY2027 provided certain performance
conditions are met; and
(b) 48,603 are due to vest on a date to be
determined by the Board following release of
ATM's full year audited results for FY2028
provided certain performance conditions are
met.
Current registered holder(s):
(1)(a) & (b) Charlotte Mary McVicar
For a derivative relevant interest,-
Type of derivative:
N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.

Signature of director or officer:
Date of signature:28-Aug-26
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
31-Aug-2026
Date of last disclosure: 27-Aug-2026
Director or senior manager giving disclosure
Full name(s):
Kate Tidbury
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Chief Legal Officer & Company Secretary
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in ATM (Ordinary Shares)
Nature of the affected relevant interest(s):Registered holder and beneficial owner.
For that relevant interest-
Number held in class before acquisition or disposal:34,640 Ordinary Shares (Note existing relevant interests in
other securities on the following page)
Number held in class after acquisition or disposal:
25,640 Ordinary Shares (Note existing relevant interests in
other securities on the following page)
Current registered holder(s):Kate Tidbury
Registered holder(s) once transfers are registered:Kate Tidbury
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:
1

Details of transactions requiring disclosure-
Date of transaction:
26-Aug-2026
Nature of transaction: On market sale of 9,000 Ordinary Shares using broker
facilities
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
Average price of NZD 8.53 per Ordinary Share
Number of financial products to which the transaction related:
9,000 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Unlisted performance rights
(Performance Rights) representing an
entitlement to acquire fully paid ordinary
shares (Ordinary Shares) in ATM.
Nature of relevant interest:
Registered holder and beneficial owner
For that relevant interest,-
Number held in class:
(1) 26,421 Performance Rights of which:
(a) 16,399 are due to vest on a date to be determined by
the Board following the release of ATM's full year audited
results for FY2027 provided certain performance conditions
are met; and
(b) 10,022 are due to vest on a date to be determined by
the Board following release of ATM's full year audited results
for FY2028 provided certain performance conditions are met.
Current registered holder(s):
Kate Tidbury
For a derivative relevant interest,-
Type of derivative:
N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.
Signature of director or officer:
Date of signature:
27-Aug-26
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
31-Aug-2026
Date of last disclosure: 27-Aug-2026
Director or senior manager giving disclosure
Full name(s):
Xiao Li
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Chief Executive – Greater China
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in ATM (Ordinary Shares)
Nature of the affected relevant interest(s):Beneficial owner.
For that relevant interest-
Number held in class before acquisition or disposal:788,155 Ordinary Shares (Note existing relevant interests in
other securities on the following page)
Number held in class after acquisition or disposal:
607,155 Ordinary Shares (Note existing relevant interests in
other securities on the following page)
Current registered holder(s):Pacific Custodians Pty Limited (as custodian)
Registered holder(s) once transfers are registered:Pacific Custodians Pty Limited (as custodian)
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:
1

Details of transactions requiring disclosure-
Date of transaction:
24-Aug-2026
Nature of transaction: On market sale of 181,000 Ordinary Shares using broker
facilities
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
Average price of NZD 8.01 per Ordinary Share
Number of financial products to which the transaction related:
181,000 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Unlisted performance rights
(Performance Rights) representing an
entitlement to acquire fully paid ordinary
shares (Ordinary Shares) in ATM.
Nature of relevant interest:
Registered holder and beneficial owner
For that relevant interest,-
Number held in class:
(1) 467,945 performance rights of which:
(a) 289,377 Performance Rights due to vest on a date to be
determined by the Board following the release of ATM’s full
year audited results for FY2027 provided certain performance
conditions are met; and
(b) 178,568 Performance Rights due to vest on a date to be
determined by the Board following the release of ATM’s full
year audited results for FY2028 provided certain performance
conditions are met.
Current registered holder(s):
(1)(a) & (b) Xiao Li
For a derivative relevant interest,-
Type of derivative:
N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.
Signature of director or officer:
Date of signature:
28-Aug-26
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

---

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
31-Aug-2026
Date of last disclosure:
27-Aug-2026
Director or senior manager giving disclosure
Full name(s):Yohan Senaratne
Name of listed issuer:The a2 Milk Company Limited
Name of related body corporate (if applicable):N/A
Position held in listed issuer:Managing Director – International
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Fully paid ordinary shares in ATM (Ordinary
Shares)
Nature of the affected relevant interest(s):Registered holder and beneficial owner.
For that relevant interest-
Number held in class before acquisition or disposal:243,969 Ordinary Shares (Note existing relevant
interests in other securities on the following page)
Number held in class after acquisition or disposal:169,644 Ordinary Shares (Note existing relevant
interests in other securities on the following page)
Current registered holder(s):Aditi Kane who is the registered holder of 95,319
Ordinary Shares, and Yohan Senaratne who is the
registered holder of 148,650 Ordinary Shares
Registered holder(s) once transfers are registered:Aditi Kane who is the registered holder of 95,319
Ordinary Shares, and Yohan Senaratne who is the
registered holder of 74,325 Ordinary Shares
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:
1

Details of transactions requiring disclosure-
Date of transaction:
26-Aug-2026
Nature of transaction: On market sale of 74,325 Ordinary Shares using
broker facilities
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
Average price of NZD 8.61 per Ordinary Share
Number of financial products to which the transaction related:
74,325 Ordinary Shares
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Unlisted performance rights
(Performance Rights) representing an
entitlement to acquire fully paid ordinary
shares (Ordinary Shares) in ATM.
Nature of relevant interest:
Registered holder and beneficial owner
For that relevant interest,-
Number held in class:
(1) 192,542 Performance Rights of which:
(a) 120,159 are due to vest on a date to be
determined by the Board following the release of
ATM’s full year audited results for FY2027
provided certain performance conditions are met;
and
(b) 72,383 are due to vest on a date to be
determined by the Board following the release of
ATM’s full year audited results for FY2028
provided certain performance conditions are met.
Current registered holder(s):
(1)(a) and (b) Aditi Kane
For a derivative relevant interest,-
Type of derivative:
N/A
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Certification
I, 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.
Signature of director or officer:
Date of signature:
28-Aug-26
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

---

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Rule 3.19A.2
Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and
documents given to ASX become ASX’s property and may be made public.
Introduced 30/09/01 Amended 01/01/11

Name of entity The a2 Milk Company Limited (Company)
ABN 97 769 415 292

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the
director for the purposes of section 205G of the Corporations Act.

Name of Director
David Landt Bortolussi
Date of last notice
27 August 2026

Part 1 - Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be
disclosed in this part.

Direct or indirect interest
Indirect
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.

DMZSK Super Pty Ltd (ACN 617 428 216),
as trustee for D & M Bortolussi
Superannuation Fund, holds 538,336
performance rights and 932,412 ordinary
shares.

DMZSK Pty Ltd (ACN 128 544 838), as
trustee for D&M Bortolussi Family Trust,
holds all other interests (both existing and
acquired).

Mr Bortolussi’s voting power in DMZSK
Super Fund Pty Ltd and DMZSK Pty Ltd is
above 20%.
Date of change
1. 25 August 2026
2. 26 August 2026
3. 27 August 2026



No. of securities held prior to change
1. 862,942 Performance Rights.
2. 1,572,795 Fully Paid Ordinary Shares.
Class
1. Performance Rights.
2. Fully Paid Ordinary Shares.

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

Number acquired
1. nil Performance Rights.
2. nil Fully Paid Ordinary Shares.
Number disposed
1. nil Performance Rights.
2. 345,033 Fully Paid Ordinary Shares.
Value/Consideration
Note: If consideration is non-cash, provide details and estimated valuation

1. Average price of NZD 8.46 per Ordinary
Share
2. Average price of NZD 8.62 per Ordinary
Share
3. Average price of NZD 8.32 per Ordinary
Share

No. of securities held after change
1. 862,942 Performance Rights.
2. 1,227,762 Fully Paid Ordinary Shares.
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back
On market sale of 345,033 Ordinary Shares
predominantly to cover tax obligations
arising following the vesting of performance
rights under ATM's long term incentive
programme using broker facilities.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be
disclosed in this part.

Detail of contract
N/A
Nature of interest


N/A
Name of registered holder
(if issued securities)

N/A
Date of change
N/A
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in relation
to which the interest has changed

N/A
Interest acquired
N/A
Interest disposed
N/A
Value/Consideration
Note: If consideration is non-cash, provide details and an
estimated valuation

N/A
Interest after change
N/A

Part 3 –
+
Closed period

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Were the interests in the securities or contracts detailed
above traded during a
+
closed period where prior written
clearance was required?
N/A
If so, was prior written clearance provided to allow the
trade to proceed during this period?
N/A
If prior written clearance was provided, on what date was
this provided?
N/A