SPH Notice – The Goldman Sachs Group, Inc. (“GSGI”)

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 To NZX Limited and To The A2 Milk Company Limited (ATM) Date this disclosure made: 27 August 2018 Date last disclosure made: 23 August 2018 Date on which substantial holding ceased: 21 August 2018 Substantial product holder(s) giving disclosure Full name(s): The Goldman Sachs Group, Inc. ("GSGI") on behalf of itself and its subsidiaries ("Goldman Sachs Group") including its significant subsidiaries listed in Annexure A. Summary of previous substantial holding Class of quoted voting products: Ordinary shares Summary for GSGI on behalf of itself and the Goldman Sachs Group. For last disclosure,-- (a) total number held in class: 54,200,605 (b) total in class: 731,539,067 (c) total percentage held in class: 7.4091% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 32,973,207 (b) total in class: 731,539,067 (c) total percentage held in class: 4.5074% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: Please see Annexure B. Additional information Address(es) of substantial product holder(s): The Goldman Sachs Group, Inc. - Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, U.S.A. Goldman Sachs International (GSI) - Peterborough Court, 133 Fleet Street, London EC4A 2BB, United Kingdom Goldman Sachs Asset Management L.P. (GSAMLP) - Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, USA Goldman Sachs Financial Markets Pty Ltd (GAUS) - Level 17, 101 Collins Street, Melbourne, Victoria 3000, Australia Goldman Sachs & Co. LLC (GSCO) - 200 West Street, New York, NY 10282, USA Goldman Sachs Asset Management International (GSAMI) - Peterborough Court, 133 Fleet Street, London EC4A 2BB, United Kingdom Contact details: Contact person - Haruka Araki Contact number - 852 2978 7696 Email - gs-reg-ops-hk-posn@gs.com Nature of connection between substantial product holders: The Goldman Sachs Group, Inc. owns, directly or indirectly, at least 99% of the voting securities of each of: - Goldman Sachs International; - Goldman Sachs Financial Markets Pty Ltd; - Goldman Sachs & Co. LLC. - Goldman Sachs Asset Management L.P. and - Goldman Sachs Asset Management International Certification I, Haruka Araki, 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 by all persons for whom it is made. Signature Haruka Araki End CA:00322890 For:ATM Type:SHINTR Time:2018-08-28 08:30:47