Fonterra provides update on forecast FY26 earnings

2 September 2026

Fonterra provides update on forecast FY26 earnings

Fonterra Co-operative Group has today advised that it expects its FY26 full year underlying earnings
1
to
be at the top end of its previously announced range of 60-70 cents per share.

“As we look to close our accounts for the year, it has become clear that we have maintained our solid
performance across FY26," says Mr Allen.

"We therefore expect earnings to be at the top end of our full year forecast earnings range, supporting a
strong full year dividend."

Fonterra’s final FY26 earnings remain subject to the finalisation of financial statements and audit. The Co-
op will confirm its final FY26 earnings and full year dividend when it reports its annual results on 24
September 2026.

The Co-op’s dividend policy is 60-80% of full year earnings.

ENDS

1
Underlying performance is Fonterra's continuing operations represented as if the Mainland
transaction had occurred for the full period to provide a comparative of Fonterra's continuing
operations and align with the Pro forma historical financial information disclosed in the Notice of
Special Meeting 2025 (29 September 2025).

For further information contact:
Rachel Reynolds
Fonterra Communications
Phone: +64 21 507 072