New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>The a2 Milk Company (ATM) has received approval from the State Administration for Market Regulation (SAMR) to transfer two China-label infant formula registrations acquired as part of the Pokeno transaction.</li><li>Production and launch are expected in FY27.</li><li>As previously indicated, ATM now intends to declare a NZ$300m special dividend (fully franked but unimputed) following receipt of the approvals.</li></ul>

The a2 Milk Company (ATM) has received approval from the State Administration for Market Regulation (SAMR) to transfer two China-label infant formula registrations acquired as part of the Pokeno transaction.Production and launch are expected in FY27.As previously indicated, ATM now intends to declare a NZ$300m special dividend (fully franked but unimputed) following receipt of the approvals.

The a2 Milk Company (ATM): Receives SAMR Approval To Transition China Label Product Registrations

A2 Milk Co Ltd

The a2 Milk Company (ATM): Receives SAMR Approval To Transition China Label Product Registrations