Chart Update, page-15202

"...A key feature of a2MC’s proposed investment in MVM is that MVM’s current majority shareholder, China Animal Husbandry Group (CAHG), will retain a 25% interest in MVM alongside a2MC. CAHG is a wholly owned subsidiary of China National Agriculture Development Group Co., Ltd, which is also the parent company of a2MC’s strategic logistics and distribution partner in China, CSFA Holdings Shanghai, Co., Ltd. (China State Farm)...."

"....• partnering with a highly-respected China state owned enterprise in CAHG, to assist in further developing the business, including into China;
• the opportunity to produce additional infant nutrition products for China and other markets; and
the ability to capture manufacturing margin...."

"...Dr.Xue, Chairman of MVM, said, “CAHG welcomes The a2 Milk Company as a strategic partner as both companies share the same vision of creating large scale world-class nutritional manufacturing at MVM. a2MC already works closely with our sister company China State Farm and is well respected in the China market. CAHG would like to thank our local farmers and staff for their continued support and is looking forward to MVM being a significant contributor in the Southland economy...”