Determination of Director’s Independence

13 FEBRUARY 2017 FONTERRA SHAREHOLDERS' MARKET RULE 3.2.3 DETERMINATION OF DIRECTOR'S INDEPENDENCE In accordance with the Fonterra Shareholders' Market Rules, the Board of Fonterra Co-operative Group Limited has determined that Mr Ian Farrelly is not an Independent Director. Anya Wicks Company Secretary +64 9 374 9341 End CA:00296675 For:FSF Type:DIRECTOR Time:2017-02-13 15:20:57