Determination of Director’s Independence

13 November 2018 FONTERRA SHAREHOLDERS' MARKET RULE 3.2.3 DETERMINATION OF DIRECTOR'S INDEPENDENCE In accordance with the Fonterra Shareholders' Market Rules, the Board of Fonterra Co-operative Group Limited has determined that Mrs Leonie Guiney and Mr Peter McBride are not Independent Directors. Anya Wicks Director Governance +64 9 374 9341 End CA:00326755 For:FCG Type:GENERAL Time:2018-11-13 10:29:10