• Delivered record sales of $1.9 billion with double-digit growth
• Reached top-4 brand position in China's IMF market
• Launched new products in infant, kids and seniors nutrition segments

The a2 Milk Company ('the Company', 'a2MC') today marked its 25th year since formation, reporting strong FY25 results and announcing major updates that substantially progress its supply chain transformation strategy and capital structure optimisation. The company delivered record sales of $1.9 billion with double-digit growth in revenue, EBITDA and EPS. It reached a top-4 brand position in China's IMF market, a major milestone in brand health and market penetration. The company achieved double-digit sales growth in English label IMF and record market share in China label IMF, driven by high new user recruitment. It launched a range of new products targeting growth opportunities in the infant, kids and seniors nutrition segments, and entered the Vietnam IMF market. The company also initiated returns to shareholders, declaring its first ever dividends totalling 20.0 cents per share for FY25. Since the end of the financial year, the Company has continued to progress its supply chain transformation strategy. It announced the acquisition of an integrated nutritional manufacturing facility with two China label IMF product registrations, located in Pokeno, New Zealand, for approximately $282 million. It also divested its 75% and China Animal Husbandry Group's 25% shareholding in Mataura Valley Milk Limited (MVM) to Open Country Dairy Limited for net proceeds of approximately $100 million. The company intends to invest ~$100 million in a multi-year capital investment programme to increase capacity and enhance capability at the new a2MC Pokeno site.The transactions enable the Company to build a better, higher growth, lower risk, end-to-end business and deliver substantial benefits to shareholders. The acquisition secures greater market access to the attractive NZ$23 billion China label IMF registered market, supports growth in the core IMF business, accelerates development of nutritional manufacturing capability, and provides access to A1 protein free milk pool from New Zealand's Waikato region.

FY26 continuing operations guidance for revenue growth of high-single digit percent versus FY25 and EBITDA % margin to be approximately 15% to 16%.

The company is focused on executing its supply chain transformation strategy, expanding its China label IMF portfolio, and driving growth across its infant, kids and seniors nutrition segments.