Notices pursuant to Listing Rules 7.12.1 and 7.12.9

Notice pursuant to NZX Main Board Listing Rule 7.12.1 In accordance with NZX Main Board Listing Rule 7.12.1, The a2 Milk Company Limited (ATM) advises that the following securities have been issued on 17 February 2017: Class of Security: Ordinary Shares in ATM ISIN: NZATME000258 Number issued: 68,750 Issue price: Exercise price of NZ$0.63 each Payment in cash: $43,312.50 Amount paid up (if not in full): Not applicable Percentage of the total class of securities issued: 0.01% Reason for issue: The shares were issued as a result of the exercise of options pursuant to ATM's Long Term Incentive Plan. Specific authority for issue: Board resolution. Terms or details of issue: All shares rank equally with the existing Ordinary Shares. Total number of securities of the class in existence after the issue: 726,688,815 Treasury stock (acquisition only): Not applicable Date of issue: 17 February 2017 Listing Rule 7.12.9 For the purposes of Listing Rule 7.12.9 of the NZX Main Board Listing Rules, in respect of the same exercise of options, ATM advises the following securities have been converted: (a) Number and class of securities converted: 68,750 (b) Interest or dividend conditions attached to the Securities converted: None (c) Number of securities of the same class remaining to be converted:12,931,250 options with an exercise price of NZ$0.63 each Geoffrey Babidge Managing Director The a2 Milk Company Limited +61 2 9697 7000 End CA:00296973 For:ATM Type:ALLOT Time:2017-02-17 16:22:19