Northington Partners Independent Report

13/05/2025 15:00 NZST, GENERAL

13 May 2025

Northington Partners Independent Report

The attached independent report, prepared by Northington Partners at the request of the Fonterra Co-operative Council (on behalf of Fonterra), for the purposes of s109LA of the Dairy Industry Restructuring Act 2001, has been provided to shareholders by the Fonterra Co-operative Council.

ENDS

For further information contact:

Anya Wicks

Company Secretary

Phone: +64 21 283 0945