SPH Notice – UBS Group AG and its related bodies corporate

Disclosure of beginning to have substantial holding Section 276, Financial Markets Conduct Act 2013 To: NZX Limited and To: The A2 Milk Company Limited Date this disclosure made: 4 October 2018 Date on which substantial holding began: 2 October 2018 Substantial product holder(s) giving disclosure Full name(s): UBS Group AG and its related bodies corporate Summary of substantial holding Class of quoted voting products: Ordinary shares Summary for: UBS Group AG and its related bodies corporate For this disclosure,-- (a) total number held in class: 37,086,513 (b) total in class: 734,797,297 (c) total percentage held in class: 5.05% Details of relevant interests Details for: UBS AG Singapore Branch Nature of relevant interest(s): Broker has the right to use over this position under a Securities Lending agreement For that relevant interest,-- (a) number held in class: 20,000 (b) percentage held in class: 0.00% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS AG Singapore Branch For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Switzerland AG Nature of relevant interest(s): Broker has the right to use over this position under a Securities Lending agreement For that relevant interest,-- (a) number held in class: 124,090 (b) percentage held in class: 0.02% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Switzerland AG Details for: UBS Switzerland AG Nature of relevant interest(s): Broker with power to exercise discretion over account For that relevant interest,-- (a) number held in class: 13,172 (b) percentage held in class: 0.00% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Switzerland AG Details for: UBS Switzerland AG Nature of relevant interest(s): Power to control disposal over shares pursuant to stock borrowing and lending activities For that relevant interest,-- (a) number held in class: 6,469,263 (b) percentage held in class: 0.88% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Switzerland AG For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS AG Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 30,407 (b) percentage held in class: 0.00% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS AG For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Asset Management (Australia) Ltd Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 3,767,257 (b) percentage held in class: 0.51% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Asset Management (Australia) Ltd For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Asset Management (Deutschland) GmbH Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 13,327 (b) percentage held in class: 0.00% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Asset Management (Deutschland) GmbH For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Asset Management (Hong Kong) Ltd Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 349,525 (b) percentage held in class: 0.05% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Asset Management (Hong Kong) Ltd For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Asset Management Life Limited Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 229,216 (b) percentage held in class: 0.03% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Asset Management Life Limited For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Asset Management Trust Company Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 36,269 (b) percentage held in class: 0.01% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Asset Management Trust Company For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Asset Management (UK) Limited Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 596,159 (b) percentage held in class: 0.08% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Asset Management (UK) Limited For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Fund Management (Luxembourg) S.A. Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 132,551 (b) percentage held in class: 0.02% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Fund Management (Luxembourg) S.A. For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS Fund Management (Switzerland) AG Nature of relevant interest(s): Fund Manager with power to exercise control over voting shares For that relevant interest,-- (a) number held in class: 886,004 (b) percentage held in class: 0.12% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Fund Management (Switzerland) AG For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS AG Australia Branch Nature of relevant interest(s): Prime Broker that has exercised its borrowing right in respect of shares pursuant to a Prime Broking Agreement For that relevant interest,-- (a) number held in class: 2,539,692 (b) percentage held in class: 0.35% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS AG Australia Branch For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details for: UBS AG London Branch Nature of relevant interest(s): Power to control disposal over shares pursuant to stock borrowing and lending activities For that relevant interest,-- (a) number held in class: 2,643,000 (b) percentage held in class: 0.36% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS AG London Branch Nature of relevant interest(s): Beneficial Owner For that relevant interest,-- (a) number held in class: 916,098 (b) percentage held in class: 0.13% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS AG London Branch Nature of relevant interest(s): Prime Broker that has exercised its borrowing right in respect of shares pursuant to a Prime Broking Agreement For that relevant interest,-- (a) number held in class: 608,740 (b) percentage held in class: 0.08% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS AG London Branch For a derivative relevant interest, also-- (a) type of derivative: swap (b) details of derivative: 15,970,922 cash-settled swap (2.17% held in class) (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: UBS AG London Branch Details for: UBS Securities Australia Ltd Nature of relevant interest(s): Power to control disposal over shares pursuant to stock borrowing and lending activities For that relevant interest,-- (a) number held in class: 1,263,180 (b) percentage held in class: 0.17% (c) current registered holder(s): Not applicable (d) registered holder(s) once transfers are registered: UBS Securities Australia Ltd For a derivative relevant interest, also-- (a) type of derivative: Options (b) details of derivative: 477,641 Physical-settled Options (0.07% held in class) (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: UBS Securities Australia Ltd Details of transactions and events giving rise to substantial holding Details of the transactions or other events requiring disclosure: Please see Appendix A. Additional information Address(es) of substantial product holder(s): Details of all UBS offices can be found through the following link: http://apps2.ubs.com/locationfinder / Contact details: Serene Peh Tel: +65 6495 5283 Email: Serene.peh@ubs.com Nature of connection between substantial product holders: UBS AG Singapore Branch: Related body corporate UBS Switzerland AG: Related body corporate UBS AG: Related body corporate UBS Asset Management (Australia) Ltd: Related body corporate UBS Asset Management (Deutschland) GmbH: Related body corporate UBS Asset Management (Hong Kong) Ltd: Related body corporate UBS Asset Management Life Limited: Related body corporate UBS Asset Management Trust Company: Related body corporate UBS Asset Management (UK) Limited: Related body corporate UBS Fund Management (Luxembourg) S.A.: Related body corporate UBS Fund Management (Switzerland) AG: Related body corporate UBS AG Australia Branch: Related body corporate UBS AG London Branch: Related body corporate UBS Securities Australia Ltd: Related body corporate Name of any other person believed to have given, or believed to be required to give, a disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure relates: Not applicable Certification We, certify that, to the best of our knowledge and belief, the information contained in this disclosure is correct and that we are duly authorised to make this disclosure by all persons for whom it is made. End CA:00324887 For:ATM Type:SHINTR Time:2018-10-05 08:30:27