• Approval received from SAMR to transition China label IMF products to a2 brand
• Final step in a2 Pokeno facility acquisition completed
• Expected to launch new products later this year
• Board to convene to declare a $300 million special dividend

The a2 Milk Company (the Company, a2MC) confirms that it has received approval from the State Administration for Market Regulation (SAMR) to transition the two China label infant milk formula (IMF) product registrations acquired in connection with the a2 Pokeno facility to a2 branded products. This represents the final step pursuant to the terms of a2MC's acquisition of the a2 Pokeno facility. The Company expects to launch the new products later this calendar year. David Bortolussi, Managing Director and CEO, said 'SAMR approval marks a significant milestone in our China growth strategy and Supply Chain transformation. It supports long-term growth in our core IMF business through market access and innovation, accelerates the development of advanced nutritional manufacturing capability, and captures attractive financial returns through incremental brand contribution and vertical margin capture.' As indicated at the time of the a2 Pokeno acquisition, it is expected that the Board will convene soon with the intent to declare a $300 million special dividend that will be fully franked and unimputed.

Expected to launch new products later this year; Board to declare a $300 million special dividend

The approval supports long-term growth in the core IMF business, accelerates advanced nutritional manufacturing capability, and captures attractive financial returns.