Dairyworks settlement complete

Synlait Milk Limited (Synlait) completed the purchase of Dairyworks Limited (Dairyworks) today. Synlait previously announced the transaction in October 2019 and received consent under the Overseas Investment Act 2005 to purchase the shares in Dairyworks last month. More information on Synlait's reason for acquiring Dairyworks is set out in this presentation (view at http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachment s/SML/349877/318695.pdf) released to the market following OIO consent. Dairyworks, like the rest of Synlait's operations, are currently operating under the New Zealand Government's Level 4 Alert restrictions as an essential service. For more information about Synlait visit www.synlait.com or contact Media Linda Chalmers, Senior Communications Advisor - External P: +64 21 951 347 E: linda.chalmers@synlait.com Investors Hannah Lynch Corporate Affairs Manager P: +64 21 252 8990 E: hannah.lynch@synlait.com End CA:00351094 For:SML Type:TRANSACT Time:2020-04-01 17:14:15