SPH Notice – Macquarie Group Limited

Disclosure of beginning to have substantial holding Section 276, Financial Markets Conduct Act 2013 Note: This form must be completed in accordance with the instructions at the end of the form. To NZX Limited and To The a2 Milk Company Limited Date this disclosure made: 16 October 2018 Date on which substantial holding began: 12 October 2018 Substantial product holder(s) giving disclosure Full name(s): Macquarie Group Limited Summary of substantial holding Class of quoted voting products: The a2 Milk Company Limited Ordinary Shares Summary for Macquarie Group Limited For this disclosure,-- (a) total number held in class: 36,781,500 Macquarie Bank Limited - 30,098,498 Macquarie Investment Management Global Ltd - 169,311 Macquarie Investment Management Australia Ltd - 5,636,765 Macquarie Securities (Australia) Ltd - 611 Macquarie Securities (New Zealand) Ltd - 4,273 Macquarie Investment Management Ltd - 872,042 (b) total in class: 734,797,297 (c) total percentage held in class: 5.01% Details of transactions and events giving rise to substantial holding Details of the transactions or other events requiring disclosure: See attached Additional information Address(es) of substantial product holder(s): Level 6, 50 Martin Place, Sydney, New South Wales, Australia 2000. Contact details: Young Hong, +61 2 8232 4129 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: N/A Certification I, Ida Lawrance, 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. End CA:00325390 For:ATM Type:SHINTR Time:2018-10-17 08:30:07