A2 Milk : Ongoing disclosure notice & Appendix 3Y – Peter Hinton

N Z X,..,.

Ongoing Disclosure Notice Disclosure of Directors and Senior Managers Relevant Interests

Sections 297(2) and 298(2),Financial Markets ConductAct 2013

To NZX Limited;and

Name of listedissuer:

Date this disclosure made:

Date of last disclosure:

The a2 Milk Company Limited ("ATM")

/10/2016

26/02/2016

Director or senior manager giving disclosure

Full name(s):

Name oflisted issuer:

Name of related body corporate (if applicable):

Position held in listed issuer:

Peter BruceHinton

The a2 Milk Company Limited ("ATM")

N/A

Director

Summary of acquisition or disposal of relevant interest (excluding specified derivatives)

Class of affected quoted financialproducts:

Nature of the affected relevant interest(s) :

For that relevant interest-

Number held in class before acquisition or disposal:

Number heldin class after acquisition or disposal:

Current registered holder(s):

Registered holder(s) once transfers are registered:

Ordinary Shares

Legal and beneficial owner

1,100,000

1,050,000

Peter Bruce Hinton

Unknown

Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)

Type of affectedderivative:

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):

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 thatderivative,-

Parties to thederivative:

Ifthe director or senior manager is not a party to the derivative ,the nature of the relevant interestin the derivative :

Details of transactions giving rise to acquisition or disposal

Total number of transactions towhich notice relates:

Details of transactions reauiring disclosure-

Date of transaction:

Nature of transaction :

Name of any other party or parties to thetransaction (ifknown) :

The consideration,expressed inNew Zealand dollars,paid or received for the acquisition or disposal. If the consideration was not incash and cannot be readily by converted intoa cash value, describe the consideration :

Number of financial products to which the transaction related:

19/10/2016

On market sale of shares through broker facilities

$100 ,500

50,000

If the issuer has a financial products trading policy thatprohibits directors or semormanagers from trading during any period without written clearance (aclosed period) include the followin details-

Whether relevant interestswere acquired or disposed of during a closed period: No

Whether prior written clearance was provided toallow the acquisition or disposalto proceed during the closed period:

Date ofthe prior written clearance (ifany):

Summary of otherrelevant interests after acquisition ordisposal:

Class ofquoted financial products:Nature of relevant interest:

For thatrelevant interest,-

Number held in class: Current re isteredholder s :

For aderivative relevant interest,-

!Type of derivative :

Details ofderivative,-

Thenotional value of the derivative (if any) orthe notional amountof underlying financial products (ifany) :

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 (ifany) :

Any other details needed to understand how the amount of the consideration payable under the derivative or the valueof the derivative is affected by the valueof 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 :

I certify that ,to the best of my knowledge and belief,the informationcontained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom itis made.

Signature of director or officer :

Date of signature:

Certification

Signature of person authorised to sign on behalf of director orofficer:

Date of signature:

Name and title of authorised person:

or

Notes

Use this form to disclose all the acquisitions and disposals by a directoror senior manager of a listedissuer,or of a related body corporate ,or in specified derivatives .The disclosure must be made within-

1. 20 working days after the first acquisition or disposal disclosed in this notice if theacquisitions or disposals are of a kind referred to in section 297(2)(a)of the Financial Markets Conduct Act 2013 ;or

2. inany other case,5 trading days after the first acquisition or disposal disclosed in this notice.

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