Notification of issue of securities – Ordinary shares

For the purposes of Listing Rule 7.12.1 of the NZX Main Board/Debt Market Listing Rules, Synlait Milk Limited (SML) advises that the following securities have been issued: a Class of security Ordinary Shares ISIN NZSMLE0001S9 b Number issued 36,364 c Issue price N/A (Ordinary Shares issued upon exercise of Performance Share Rights and no additional consideration is payable by the employees) d Payment in cash N/A e Amount paid up N/A f Principle terms of issue N/A g Percentage of class of securities 0.02% h Reason for issue Issue of shares under the SML IPO Incentive Scheme as part of employee remuneration i Authority for issue Resolution of the Board upon vesting of the Performance Share Rights j Terms of issue None k Total number of securities of the class in existence after the issue 179,149,619 l Treasury stock N/A m Date of issue 23 January 2017 End CA:00295877 For:SML Type:ALLOT Time:2017-01-24 08:30:18