Determination of Director’s Independence

15 NOVEMBER 2017 FONTERRA SHAREHOLDERS' MARKET RULE 3.2.3 DETERMINATION OF DIRECTORS' INDEPENDENCE In accordance with the Fonterra Shareholders' Market Rules, the Board of Fonterra Co-operative Group Limited has determined that Mr Brent Goldsack and Mr Andrew Macfarlane are not Independent Directors. Anya Wicks Director Governance +64 9 374 9341 End CA:00310345 For:FCG Type:GENERAL Time:2017-11-15 11:18:49