Fonterra acknowledges Fitch Ratings review

05 February 2021 Fonterra acknowledges Fitch Ratings review Fonterra Co-operative Group Limited (Fonterra) has been notified that credit agency Fitch Ratings has affirmed its long-term issuer default rating at 'A' and has revised its rating outlook for the Co-operative from 'Negative' to 'Stable'. Chief Financial Officer Marc Rivers says "this reflects the Co-op's progress following our strategic review and, in particular, the work we've done to improve our balance sheet over the last few years." -ENDS- For further information contact: Simon Till Director Capital Markets Phone: +64 21 777807 End CA:00367212 For:FSF Type:CREDIT Time:2021-02-05 14:54:24