Synlait Cleansing Notice

SYNLAIT MILK LIMITED NOTICE PURSUANT TO REGULATION 49G(2)(E) OF THE FINANCIAL MARKETS CONDUCT REGULATIONS 2014 Synlait Milk Limited (Synlait) gives notice under regulation 49G(2)(e) of the Financial Markets Conduct Regulations 2014 (FMC Regulations) that it is making an offer for the issue of unsecured subordinated fixed rate bonds (the Bonds) (the Offer). The Offer is being made using short-form disclosure under the simplified disclosure offer process as the Bonds will rank in priority to Synlait's ordinary shares which are quoted on the NZX Main Board under the ticker code SML. A copy of the product disclosure statement for the Offer is available at www.companies.govt.nz/disclose under Synlait's offer number (OFR12776). Synlait's shares have been continuously quoted on the NZX Main Board over the preceding three months and trading in its shares has not been suspended for a total of more than five trading days during that three-month period. As at the date of this notice, Synlait is in compliance with: - its continuous disclosure obligations that apply in relation to Synlait's ordinary shares; and - its financial reporting obligations (as defined in regulation 49H(7) of the FMC Regulations). As at the date of this notice, there is no information that is "excluded information" (as defined in in regulation 49H(7) of the FMC Regulations) which is required to be disclosed. ENDS For investor relations enquiries: Hannah Lynch, Corporate Affairs Manager, P: + 64 21 252 8990 E: Hannah.Lynch@synlait.com For media enquiries: Linda Chalmers, Senior Communications Advisor - External P: +64 21 951 347, E: linda.chalmers@synlait.com For more information about Synlait visit www.synlait.com Synlait does not intend that the bonds be offered for sale, and no action has been taken or will be taken to permit a public offering of bonds in any jurisdiction other than New Zealand. This document is not, and should not be construed as, an offer to sell or a solicitation of an offer to buy Synlait bonds and may not be relied upon in connection with any purchase of Synlait bonds. This document may not be published, delivered or distributed in or from any country other than New Zealand. The information in this document has been prepared by Synlait solely for informational purposes and does not purport to be complete or comprehensive and does not constitute financial product, investment, tax or other advice. Synlait has been designated as a "Non-Standard" (NS) issuer by NZX because Bright Dairy Holdings Limited, its cornerstone shareholder, has the right to appoint four Directors to the Board. End CA:00345178 For:SML Type:OFFER Time:2019-11-29 09:46:22