Fonterra Annual Meeting Results

5 NOVEMBER 2020 Results of Shareholder voting at Fonterra Annual Meeting Fonterra shareholders have voted to pass 8 of the 11 resolutions at this year's Annual Meeting. Resolutions 9, 10 and 11, which were three ordinary resolutions put forward by a Fonterra shareholder, were not passed. The results of the resolutions are: RESOLUTION RESULT - % in favour Resolution 1: That no increase of remuneration of Directors be approved 97.34% Resolution 2: That no increase of remuneration of Shareholders' Councillors be approved 97.60% Resolution 3: That no increase of remuneration of members of Directors' Remuneration Committee be approved 97.97% Resolution 4: Appointment of KPMG as auditor and authorisation of the Directors to fix the auditor's remuneration 97.67% Resolution 5: Ratification of appointment of Ms Holly Kramer 95.79% Resolution 6: Ratification of appointment of Mr Bruce Hassall 91.46% Resolution 7: Approval of open entry related amendments to the Constitution 96.17% Resolution 8: Approval of Shareholders' Council programme and budget 74.71% Resolution 9: Mr Paterson's Proposal 39.70% Resolution 10: Mr Paterson's Proposal 37.65% Resolution 11: Mr Paterson's Proposal 35.62% -ENDS- For further information contact: Fonterra Communications 24-hour media line Phone: +64 21 507 072 End CA:00362734 For:FSF Type:MEETING Time:2020-11-05 13:28:40