Disclosure of relevant interests

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
The a2 Milk Company Limited (ATM)
Date this disclosure made:
11-Dec-25
Date of last disclosure:
03-Dec-2025
Director or senior manager giving disclosure
Full name(s):
David Landt Bortolussi
Name of listed issuer:
The a2 Milk Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Managing Director and Chief Executive
Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Unlisted performance rights
(Performance Rights) representing an
entitlement to acquire fully paid ordinary
shares in ATM (Ordinary Shares).
Nature of the affected relevant interest(s):
Beneficial owner
For that relevant interest-
Number held in class before acquisition or disposal:
1,228,402 Performance Rights of which:
(a) 690,066 are due to vest on a date
to be determined by the Board following
the release of ATM’s full year audited
results for FY26 provided certain
performance conditions are met; and
(b) 538,336 are due to vest on a date
to be determined by the Board following
the release of ATM’s full year audited
results for FY27 provided certain
performance conditions are met.
Number held in class after acquisition or disposal:
1,553,008 Performance Rights of which:
(a) 690,066 are due to vest on a date
to be determined by the Board following
the release of ATM’s full year audited
results for FY26 provided certain
performance conditions are met;
(b) 538,336 are due to vest on a date
to be determined by the Board following
the release of ATM’s full year audited
results for FY27 provided certain
performance conditions are met; and
(c) 324,606 are due to vest on a date
to be determined by the Board following
the release of ATM’s full year audited
results for FY28 provided certain
performance conditions are met.
Current registered holder(s):
DMZSK Super Pty Ltd <D&M Bortolussi
Superannuation Fund A/c>

Registered holder(s) once transfers are registered:
(a) & (b) DMZSK Super Pty Ltd <D&M
Bortolussi Superannuation Fund A/c>
(c) DMZSK Pty Ltd <D&M Bortolussi
Family Trust>
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
N/A
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant
interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:
1
Details of transactions requiring disclosure-
Date of transaction:
08-Dec-2025
Nature of transaction:
Grant by ATM of Performance Rights
under ATM's Long Term Incentive Plan.
Name of any other party or parties to the transaction (if known):
N/A
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
Nil
Number of financial products to which the transaction related:
324,606 Performance Rights
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:
No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
N/A
Date of the prior written clearance (if any):
N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:
Ordinary Shares
Nature of relevant interest:
Beneficial owner
For that relevant interest,-
Number held in class:
(1) 1,035,313 Ordinary Shares
(2) 242,346 Ordinary Shares
Current registered holder(s):
(1) DMZSK Pty Ltd <D&M Bortolussi
Family Trust A/c>
(2) DMZSK Super Pty Ltd <D&M
Bortolussi Superannuation Fund A/c>
For a derivative relevant interest,-
Type of derivative:
N/A

Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial
products (if any):
N/A
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative (if any):
The price's specified terms (if any):
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
For that derivative relevant interest,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant
interest in the derivative:
Certification
I, certify that, to the best of my knowledge and belief, the information contained in this
disclosure is correct and that I am duly authorised to make this disclosure by all persons
for whom it is made.
Signature of director or officer:
Date of signature:
08-Dec-2025
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

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Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.
01/01/2011 Appendix 3Y Page 1
Rule 3.19A.2
Appendix 3Y
Change of Director’s Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and
documents given to ASX become ASX’s property and may be made public.
Introduced 30/09/01 Amended 01/01/11
Name of entity: The a2 Milk Company Limited (Company)
ABN: 97 769 415 292
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the
director for the purposes of section 205G of the Corporations Act.
Name of Director
David Landt Bortolussi
Date of last notice
3 December 2025
Part 1 - Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be
disclosed in this part.
Direct or indirect interest
Indirect
Nature of indirect interest
(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant
interest.
DMZSK Super Pty Ltd (ACN 617 428 216),
as trustee for D &
M Bortolussi
Superannuation Fund, holds 1,228,402
performance rights and 242,346
fully paid
ordinary shares.
DMZSK Pty Ltd (ACN 128 544 838), as
trustee for D&M Bortolussi Family Trust,
holds
all other interests (both existing and
acquired).
Mr Bortolussi’s voting power in DMZSK
Super Fund Pty Ltd and DMZSK Pty Ltd is
above 20%.
Date of change
8 December 2025
No. of securities held prior to change
1. 1,228,402 performance rights
2. 1,277,659 fully paid ordinary shares
Class
1. performance rights
2. fully paid ordinary shares
Number acquired
1. 324,606 performance rights
2. nil fully paid ordinary shares
Number disposed
1. nil performance rights
2. nil fully paid ordinary shares

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.
Appendix 3Y Page 2 01/01/2011
Value/Consideration
Note: If consideration is non-cash, provide details and estimated valuation
Employee incentive
No. of securities held after change
1,553,008 performance rights
1,277,659 fully paid ordinary shares
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back
Issue of FY26 performance rights under The
a2 Milk Company Limited Long Term
Incentive Plan.
This issue was approved at the entity’s annual
general meeting held on 20 November 2025,
including for the purposes of ASX Listing
Rule 10.15.7.
Part 2 – Change of director’s interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be
disclosed in this part.

Detail of contract
N/A
Nature of interest
N/A
Name of registered holder
(if issued securities)
N/A
Date of change
N/A
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in relation
to which the interest has changed

N/A
Interest acquired
N/A
Interest disposed
N/A
Value/Consideration
Note: If consideration is non-cash, provide details and an
estimated valuation

N/A
Interest after change
N/A
Part 3 –
+
Closed period
Were the interests in the securities or contracts detailed above
traded during a
+
closed period where prior written clearance
was required?
N/A
If so, was prior written clearance provided to allow the trade to
proceed during this period?
N/A
If prior written clearance was provided, on what date was this
provided?
N/A