Synlait achieves B Corp(TM) recertification

Synlait Milk Limited · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · +643 373 3000 · www.synlait.com






NZX: SML
ASX: SM1

18 December 2023

Synlait achieves B Corp™ recertification; the gold standard in sustainability

Synlait Milk Limited (Synlait) has been recertified as a B Corporation™, the global gold standard
accreditation for sustainability. Synlait increased its score by 21.5% to 97.7 (previously 80.4).
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Synlait remains the only New Zealand headquartered dairy processor with this accreditation.

The strenuous accreditation process reinforces Synlait’s commitment to considering the impact of its
decisions on all its stakeholders and the environment.

Synlait CEO Grant Watson commented: “Our B Corp™ recertification proves that Synlait meets the
highest standards of verified social and environmental performance, public transparency, and legal
accountability to balance profit and purpose. It is completely aligned with our purpose:
Doing Milk
Differently for a Healthier World
.”

“Our world-class sustainability credentials are increasingly requested by our key global customers and
is a competitive differentiator for Synlait in sales negotiations. I am proud of all the work everyone at
Synlait does to push ourselves to succeed against these targets.”

Improvements in Synlait’s score came from:

 Governance – new social and environmental performance metrics are now linked to the
compensation and job descriptions of the Executive Leadership Team, and the Board also
reviews the company’s social and environmental performance. Synlait also added Purpose
and Stakeholder Consideration clauses to its constitution to maintain its B Corp™ certification.
The resolution was passed with a 97.95% majority at Synlait’s Annual Meeting.

 Environment – improved measurement and management of the company’s greenhouse gas
footprint across its value chain increased Synlait’s overall environment score.

B Lab ANZ CEO Andrew Davies commented: "Congratulations to Synlait for recertifying with
significant impact improvement. Synlait's adoption of constitutional change to embed purpose and
accountability to the interests of all stakeholders in its decision-making is a strong sign of leadership.
It is encouraging to see increasing investor support for a better way of doing business in Aotearoa
and beyond.”

Read a detailed breakdown of Synlait’s B Corp score here.


For more information contact:
Allan Swann
Corporate Communications Manager
P: +64 21 211 4874
E: allan.swann@synlait.com
 
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When including Dairyworks, Synlait’s Overall B Impact score is 89.5. Synlait’s 2020 B Impact Score of 80.4 did not include
Dairyworks (acquired in March 2020). Synlait announced its intention to divest Dairyworks and its Temuka cheese assets in
June 2023.