Fonterra Co-Operative Group Limited Announces Scott St John Will Step Down from the Fonterra Board on 31 March 2024
Finance and Risk Committee, Sustainability and Innovation Committee, and Disclosure Committee. He was
also previously Chair of the Milk Price Panel for over six years. Mr. St John is the Chair of Fisher and Paykel Healthcare and serves on the Boards of ANZ Bank New
Zealand, Mercury NZ Limited and NEXT Foundation. He will step into the role of Chair of Mercury NZ Limited
from 1 January 2024. The Fonterra Board will shortly commence a search process to replace Mr. St John and farmer shareholders
will have an opportunity to ratify that appointment at the 2024 Annual Meeting.