Fonterra Shareholders' Fund (NS) — Earnings Release 2020

Sep 17, 2020

	Results for announcement to the market
	Name of issuer	Fonterra Shareholders’ Fund
	Reporting Period	12 months to 31 July 2020
	Previous Reporting Period	12 months to 31 July 2019
	Currency	New Zealand Dollars
	Amount (m’s)		Percentage change
	Revenue from continuingoperations	$6	N/A
	Total Revenue	$6	N/A
	Net profit/(loss) fromcontinuing operations	$nil	-%
	Total net profit/(loss)	$nil	-%
	Interim/Final Dividend
	Amount per Quoted EquitySecurity	Final dividend (distribution) of 5 cents per unit
	Imputed amount per QuotedEquity Security	Not Applicable
	Record Date	25 September 2020
	Dividend Payment Date	15 October 2020
		Current period		Prior comparable period
	Net tangible assets perQuoted Equity Security	$3.82		$3.77
	A brief explanation of any ofthe figures above necessaryto enable the figures to beunderstood	Fonterra Shareholders’ Fund financial statements are prepared in accordancewith New Zealand Equivalents to International Financial Reporting Standards.Revenue from continuing operations comprises net fair value movements ofEconomic Rights of Fonterra Shares, and dividend income (if any) receivedduring the period year.Revenue from continuing operations has moved from a loss in the prior year of$(144,000,000) to a gain for the current reporting period. Therefore, thepercentage change is not considered meaningful.
	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	18/09/2020

Audited financial statements accompany this announcement.

Page 1