Notice of on-market share buyback and black out period

23 December 2022 Notice of acquisition of shares under on-market share buyback programme announced on 8 June 2022 The buyback programme will not run during the black-out period in respect of Fonterra's 2023 interim results, which (for this year) will run from 1 February 2023 until the first trading day after the Fonterra interim results announcement is made. This notice is given under FSM Rule 2.9.1 and section 65(2) of the Companies Act 1993 and relates to the acquisition of ordinary shares in Fonterra Co-operative Group Limited under the on-market share buyback programme announced on 8 June 2022. -ENDS-. For further information contact: Simon Till Director Capital Markets Phone: +64 21 777807 Email: investor.relations@fonterra.com.com End CA:00404630 For:FSF Type:SECISSUE Time:2022-12-23 08:30:42