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NZX Regulation Decision Fonterra Shareholders' Fund (FSF) Approval to List as an Issuer of Equity Securities under NZX Listing Rule 1.1.2 Ruling on FSF's Governing Document Application for Rulings and Waivers from NZX Listing Rules 2.3.1, 2.3.2, 2.7.1, 2.8.1, 2.10.1, 2.11.1, 2.12.1, 2.20.1(a)(i), 2.20.1(d), 3.13.1, 4.1, 4.11.1, 4.12, 4.14.1, .4.14.2, 5.1.1, 5.2, 8.1.6(b), Appendix 3 These Rulings and waivers take effect from FSF's transition to the updated NZX Listing Rules. End CA:00336526 For:FSF Type:WAV/RULE Time:2019-06-24 14:31:55