Synlait Milk Limited (Synlait) notes the article published by BusinessDesk this morning regarding the possible sale of raw milk in the North Island to Open Country.

In April, Synlait announced it was undertaking a strategic review of its North Island assets, including its manufacturing facility in Pokeno and its blending and canning facility in Auckland.

The strategic review was expected to take several months. It is now nearing the final stages. The strategic review does include consideration of the continued collection and processing of milk in the North Island.

Synlait expects to make a further announcement about the outcome of the broader strategic review before it releases its full-year results at the end of September.

Synlait reiterates that no decision has been taken as to the outcome of its strategic review. Synlait will provide any further updates to the market to the extent required in accordance with its continuous disclosure obligations but will not otherwise respond to any further media speculation.

For more information contact:

Media & Investors

Jo Scott

Communications Lead

P: +64 21 883 123

E: jo.scott@synlait.com