Fonterra Co-operative Group Limited · NZX:FCG
Fonterra Co-operative — Shareholder Meeting (November 2026)
24 slides from Fonterra Co-operative's shareholder meeting presentation, Nov 12, 2026
Slide 1: Fonterra Co-operative Group Annual Meeting 2026
Fonterra Co-operative Group Annual Meeting 2026 10.30am on Thursday, 12 November 2026 Mystery Creek Events Centre, Hamilton and Online
Slide 2: Agenda
Agenda Welcome Chief Executive Officer’s Address Chair’s Review
Slide 3: Agenda
Agenda Resolution 1: Approval of changes to the remuneration of Directors Approval of changes to the remuneration of Resolution 2: Co-operative Councillors Approval of changes to the remuneration of members Resolution 3: of the Directors’ Remuneration Committee Appointment of KPMG as auditor and aut
Slide 4: Agenda
Agenda Co-operative Council Report – John Stevenson, Council Chair Approval of the Co-operative Council Resolution 7: programme and budget Voting Paper Collection General Business Closing
Slide 5: Richard Allen, CEO's Address
Richard Allen CEO’s Address
Slide 6: Strong performance delivering value for shareholders
Strong performance delivering value for shareholders Performance Total Group Mainland Underlying Underlying Underlying Profit after Tax Divestment Benefit Operating Profit Earnings per share Return on Capital $2.6b $1.2b $1.8b 71c 14.2% from 1.1b from 1.5b from 54c from 11.7% Distributions F
Slide 7: FY27 priorities focused on value growth
FY27 priorities focused on value growth Driving value through operational efficiency, growth investments and strengthening digital capability Investing for Growth Operational Efficiency Digital Transformation • Completion of announced: • Full Mainland operational separation by • ERP remains on budge
Slide 8: FY27 Outlook
FY27 Outlook 2026/27 Season FY27 Full Year Forecast Farmgate Milk Price Forecast earnings range $9.00 - $10.50 per kgMS 65 - 85 cents per share 2026/27 Season Forecast Farmgate Organic Milk Price $14.50 - $16.00 per kgMS 8
Slide 9: Peter McBride, Chair's Review
Peter McBride Chair’s Review
Slide 10: $2.20 of value generated from FY26 performance
$2.20 of value generated from FY26 performance Cash returned: $2.73 +$1.47 +$0.73 $8.10 share price, after adding back the +$2.00 $2.00 capital return $5.90 –$0.53 Cash + $2.73 +$0.73 fully imputed FY26 dividends Share $5.37 = $2.20 Opening price Share price Capital return FY26 dividends Closing val
Slide 11: Value more than doubled since capital structure review started
Value more than doubled since capital structure review started Cash returned: $5.20 +$2.70 $10.57 +$3.31 share price, after adding back $2.50 of capital returns +$2.50 Cash $5.20 + $4.56 +$0.81 +$2.70 fully imputed dividends Share $5.37 = $6.01 Closing value Share price Capital returns Dividends Clo
Slide 12: A structured sell-down for ceased suppliers
A structured sell-down for ceased suppliers From the compliance date of the season beginning 1 June 2027 10 years reduction period 5 years reduction period 3 years reduction period 1/10 per season 1/5 per season 1/3 per season Applies to ceased suppliers Applies to ceased suppliers who Applies to ce
Slide 13: Fonterra Co-operative Group Annual Meeting 2026
Fonterra Co-operative Group Annual Meeting 2026
Slide 14: Resolution 1
Resolution 1 Approval of changes to the remuneration of Directors
Slide 15: Resolution 2
Resolution 2 Approval of changes to the remuneration of Co-operative Councillors
Slide 16: Resolution 3
Resolution 3 Approval of changes to the remuneration of members of the Directors’ Remuneration Committee
Slide 17: Resolution 4
Resolution 4 Appointment of KPMG as auditor and authorisation of the Directors to fix the auditor’s remuneration
Slide 18: Resolution 5
Resolution 5 Ratification of appointment of Ms Holly Kramer
Slide 19: Resolution 6
Resolution 6 Ratification of appointment of Mr Jonathan Mason
Slide 20: John Stevenson, Chair, Co-operative Council
John Stevenson Chair, Fonterra Co-operative Council
Slide 21: Resolution 7
Resolution 7 Approval of the Co-operative Council programme and budget
Slide 22: Voting Paper Collection
Voting Paper Collection
Slide 23: General Business
General Business
Slide 24: Annual Meeting 2026 has now closed. Thank you.
Fonterra Co-operative Group Annual Meeting 2026 has now closed. Thank you. This is where image / video of presenter appears
Fonterra Co-operative Group — Shareholder Meeting (November 2026) on 6ix