Interim Report correction

30 March 2017 INTERIM REPORT CORRECTION Subsequent to the release of the Fonterra Co-operative Group Limited Interim Report on 22 March 2017, it was identified that a portion of the "Australian ingredients" gross margin was incorrectly allocated to "Other gross margin" in the Ingredients gross margin table on page 19. The "Total gross margin" figure allocated to the Ingredients business is correct. To accurately reflect the breakdown of the "Total gross margin", the "Australian ingredients" gross margin reported figure has been changed from $9 million to $27 million and the "other gross margin" figure has been changed from $148 million to $130 million. There have been no other changes made. An amended version of the Interim Report is appended to this announcement and will be sent to shareholders. The amended Ingredients gross margin table is also appended. ENDS For further information contact: Simon Till Director Capital Markets Phone: +64 21 777 807 End CA:00299093 For:FCG Type:HALFYR Time:2017-03-30 16:02:50