Communication to Fonterra Shareholders’ Fund Unit Holders

10 November 2021 Fonterra Capital Structure Review - Update for Unit Holders The attached communication was provided to Fonterra Shareholders' Fund unit holders by the Chairman, John Shewan on 10 November 2021. For further information contact: John Shewan 027 450 7831 End CA:00382560 For:FCG Type:GENERAL Time:2021-11-10 09:45:16