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 announced the voluntary recall of three batches of a2 Platinum infant formula sold into the USA.</li><li>No confirmed incidents of illness or harm have been reported at this stage, but ATM is communicating with US consumers around recommended actions if they have purchased the product.</li><li>The direct financial impact of the recall is immaterial to ATM, with total US infant formula sales ~0.1% of revenue in 1H26.</li></ul>

The a2 Milk Company (ATM) has announced the voluntary recall of three batches of a2 Platinum infant formula sold into the USA.No confirmed incidents of illness or harm have been reported at this stage, but ATM is communicating with US consumers around recommended actions if they have purchased the product.The direct financial impact of the recall is immaterial to ATM, with total US infant formula sales ~0.1% of revenue in 1H26.

The a2 Milk Company (ATM): US Infant Formula Recall

A2 Milk Co Ltd

The a2 Milk Company (ATM): US Infant Formula Recall