New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>FY22 result breakdown: Likely to be a number of moving parts given lockdown impacts on both costs and revenue in 2H22</li><li>Outlook — the all important question: Consistent with previous years, we don't expect quantitative guidance</li><li>US business updates: Recent US IF updates and more definitive strategic direction on ATM's loss making US liquid milk business</li></ul>

FY22 result breakdown: Likely to be a number of moving parts given lockdown impacts on both costs and revenue in 2H22Outlook — the all important question: Consistent with previous years, we don't expect quantitative guidanceUS business updates: Recent US IF updates and more definitive strategic direction on ATM's loss making US liquid milk business

The A2 Milk Company: FY22 Preview — All Eyes on FY23

A2 Milk Co Ltd

The A2 Milk Company: FY22 Preview — All Eyes on FY23