Ann: Investor presentation, page-2

China infant formula regulatory environment • Monitoring of the regulatory environment in China for further changes and clarification remains an ongoing focus for the Company 16 1 CFDA: China Food and Drug Administration English label product sold through CBEC platforms • China Ministry of Commerce (MoC) announcement, 17 March 2017 indicates: ‒ CBEC to be managed in the same way as personal goods (or direct mail) ‒ Increase to CBEC Free Trade Zones (from 10 to 15) ‒ Detailed implementation plans to follow China label product sold through traditional import mode • CFDA1 registration required for products imported from 1 January 2018 • Inventory received in China prior to January 2018 may continue to be sold • Synlait Milk progressing application in close co-operation with a2MC and advisors – Detailed requirements for the application dossier includes: raw materials and finished products testing, certification of manufacturing standards, formulation assessment and labelling • Potential implications of draft labelling guidelines under consideration • Application on track for lodgement by end of May

On track, excellent!

FY17 Q3 update: 9 months to March 17 UK • Continued strong growth in UK fresh milk, now exceeding plan by 60%

WOW!

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New USA marketing campaign: “Love milk again” 18 https://a2milk.com/love-milk-again-tvc/