ASX Appendix 3A.1

Fonterra Shareholders' Fund has submitted the attached Appendix 3A.1 Notification of dividend/distribution to the ASX as required by the ASX listing rules. Dates and times referred to in this Appendix are Australian Eastern Standard Time. For further details please refer to the Distribution Reinvestment Plan booklet available at: http://www2.fonterra.com/our-financials/dividends For further information contact: Simon Till Director Capital Markets Phone: +64 21 777 807 End CA:00298674 For:FSF Type:GENERAL Time:2017-03-22 09:46:16