SPH Notice – BlackRock, Inc. and related bodies corporate

Disclosure of beginning to have substantial holding Section 276, Financial Markets Conduct Act 2013 To: New Zealand Stock Exchange And: The A2 Milk Company Limited Date this disclosure made: 04 June 2018 Date on which substantial holding began: 31 May 2018 Substantial product holder(s) giving disclosure Name(s): BlackRock, Inc. and related bodies corporate Summary of substantial holding to which disclosure relates Class of listed voting securities: Ordinary Share Summary for: Product holders listed in Appendix A For this disclosure,-- (a) total number held in class: 36,733,392 Ord (b) total in class: 730,039,067 (c) total percentage held in class: 5.032% Details of transactions and events giving rise to person beginning to have substantial holding Details of the transactions or other events requiring disclosure under the instructions to this form: Refer to Appendix B Details of relevant interests currently in substantial holding Details for: Product holders listed in Appendix A Nature of relevant interest(s): The power to control the acquisition or disposal of the quoted voting product and/or the exercise of a right to vote attached to the quoted voting product, arising only from the powers of investment contained in each case under investment management agreements appointing each entity as investment manager of funds or separate accounts (i.e. entity currently exercising investment discretion on behalf of the relevant funds or separate accounts). No relevant agreement document needs to be attached under Regulation 142. For that relevant interest,-- (a) number held in class: Refer to Appendix A (b) percentage held in class: Refer to Appendix A (c) current registered holder(s) of securities: Refer to Appendix A (d) registered holder(s) of securities once transfers registered: Not applicable For a derivative relevant interest, also-- (a) type of derivative: Contract for Difference (b) details of derivative: - Notional number of underlying shares: 194,990 - These derivatives are all cash-settled. - Derivatives were acquired and/or disposed of as follows: Refer to Appendix B (c) parties to the derivative: Refer to Appendix C (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: The power to control the acquisition or disposal of the derivative - Refer to Appendix C Additional information Nature of connection between substantial security holders: Refer to Appendix A Address(es) of substantial security holder(s): Refer to Appendix A Contact details: Bradley Taylor , Tel +1-302-797-2361, Email bradley.taylor@blackrock.com Name of any other person believed to have given, or believed to be required to give, a disclosure under the Act in relation to the securities to which this disclosure relates: Not applicable. Certification I, Bradley Taylor, Authorised Signatory, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure for BlackRock Investment Management (Australia) Limited. End CA:00318864 For:ATM Type:SHINTR Time:2018-06-05 08:30:18