Fonterra Shareholders' Fund (NS) — Earnings Release 2019

Sep 25, 2019

	Results for announcement to the market
	Name of issuer		Fonterra Shareholders’ Fund
	Reporting Period		12 months to 31 July 2019
	Previous Reporting Period		12 months to 31 July 2018
		pg		y
	Cu	rrency	New Zealand D	ollars
		Amoun		t (m’s)	Percentage change
	Reope	venue from continuing	$(14	4)	(69)%
		rations
	Tot	al Revenue	$(1	4)	(69)%
	Net profit/(loss) fromcontinuing operations	t profit/(loss) from	$n	il	-%
	Total net profit/(loss)		$nil		-%
	Interim/Final Dividend
	Amount per Quoted EquitySecurity		No final dividend is to be paid
	Imputed amount per QuotedEquity Security		Not Applicable
	Record Date		Not Applicable
	Dividend Payment Date		Not Applicable
			Current period			Prior comparable period
	Net tangible assets perQuoted Equity Security		$3.77			$5.12
	A brief explanation of any ofthe figures above necessaryto enable the figures to beunderstood		Fonterra Shareholders’ Fund financial statements are prepared in accordancewith New Zealand Equivalents to International Financial Reporting Standards.Revenue from continuing operations comprises net fair value movements ofEconomic Rights of Fonterra Shares, and dividend income. This is a loss forthe current reporting period.
	Authority for this announcement
	Name of person authorisedto make this announcement		Andrew Cordner
	Contact person for thisannouncement		Simon Till
	Contact phone number		+64 21 777 807
	Contact email address		Investor.relations@fonterra.com
	Date of release through MAP		26/09/2019

Audited financial statements accompany this announcement.

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