Synlait Milk Ltd. · NZX:SML
Synlait Milk — Shareholder Meeting (November 2025)
26 slides from Synlait Milk's shareholder meeting presentation, Nov 21, 2025
Slide 1: Annual Meeting Presentation
Annual Meeting Presentation Friday 21 November 2025
Slide 2: Voting Online
Voting Online • Voting is now open. • To vote, click the vote tab and select your preferred option. Once your vote is cast, a tick will appear. • There is no submit or send button. Your selection is automatically recorded, and you can change it until voting closes. PAGE 2 ANNUAL MEETING PRESENTATION
Slide 3: Asking A Question Online
Asking A Question Online • To ask a question, click on the Q&A icon. • Click on the box, type your question, and press submit. • Your question will be asked at the appropriate part of the meeting. • Please ensure questions are concise, clear, and relevant to the meeting. PAGE 3 ANNUAL MEETING PRESEN
Slide 4: Need Help?
Need Help? • Use the Q&A tab to message a Computershare representative. • Check the virtual meeting guide issued with the Notice of Meeting or on Synlait’s website. • Call the Computershare team on +64 9 488 8777. PAGE 4 ANNUAL MEETING PRESENTATION 2025
Slide 5: Chair Address
Chair Address George Adams PAGE 5
Slide 6: Agenda
Agenda • Chair Address • CEO Address • Resolutions & Voting • Other Business PAGE 6 ANNUAL MEETING PRESENTATION 2025
Slide 7: Your Board
Your Board Independent Directors George Adams Paul McGilvary Paul Washer (Retiring) Chair Bright Dairy Appointed Directors Leon Fung Edward Yang Tao Zhang Julia Zhu PAGE 7 ANNUAL MEETING PRESENTATION 2025
Slide 8: Board Committees
Board Committees Audit & Risk Julia Zhu George Adams Paul McGilvary Chair People, Environment, & Governance Leon Fung George Adams Paul McGilvary Chair PAGE 8 ANNUAL MEETING PRESENTATION 2025
Slide 9: Looking Back: Board Priorities
Looking Back: Board Priorities A prolonged period of fire-fighting to ensure Synlait’s survival. $130m Bright Dairy Guidance New CFO The a2 Milk Company Equity raise and bank Shareholders shareholders loan withdrawal appointment settlement refinancing announced approve equity raise July 2024 July 20
Slide 10: Current Focus: Board Priorities FY26
Current Focus: Board Priorities FY26 Executing a fulsome balance sheet reset and creating a plan for the future. Debt reduction Future strategy North Island assets to be sold to Pressure test previous priorities. global healthcare leader, Abbott. Proceeds (circa NZ$307 million) Careful exploration o
Slide 11: Looking Forward: Resetting Synlait
Looking Forward: Resetting Synlait Creating the roadmap to return Synlait to success. Premium product and innovation pipeline Strategic partnerships Capital strategy Dunsandel A clear pathway to strategy sustainable growth Optimising operational excellence PAGE 11 ANNUAL MEETING PRESENTATION 2025
Slide 12: CEO Address
CEO Address Richard Wyeth PAGE 12 ANNUAL MEETING PRESENTATION 2025
Slide 13: FY26: Delivering An Operational Step Change
FY26: Delivering An Operational Step Change Back to basics approach to uplift operational stability. Right people, Training and Quality right place capability uplift focus Underpinned by: PAGE 13 ANNUAL MEETING PRESENTATION 2025
Slide 14: Big 6 for '26: Update On Current Focus Areas
Big 6 for ‘26: Update On Current Focus Areas Shifting Synlait from reactive recovery to proactive performance. Operational Quality Customer Stability Performance Satisfaction Strengthening Financial Financial Culture Performance Resilience PAGE 14 ANNUAL MEETING PRESENTATION 2025
Slide 15: Moving Forward
Moving Forward FY26 will see Synlait reshaped and well-positioned to capitalise on the growing global demand for New Zealand dairy. Strong South Island High quality World-class team Operational business Canterbury milk supply and facilities excellence Stronger strategic Commercially-smart Premium pr
Slide 16: Asking A Question Online
Asking A Question Online • To ask a question, click on the Q&A icon. • Click on the box, type your question, and press submit. • Your question will be asked at the appropriate part of the meeting. • Please ensure questions are concise, clear, and relevant to the meeting. PAGE 16 ANNUAL MEETING PRESE
Slide 17: Resolutions & Voting
Resolutions & Voting PAGE 17 ANNUAL MEETING PRESENTATION 2025
Slide 18: Resolution 1: Director Re-election
Resolution 1: Director Re-election That Paul McGilvary be re-elected as a Director. Voting Online To vote, click the vote tab and select your preferred option. Once your vote is cast, a tick will appear. There is no submit or send button; your selection is automatically recorded, although it can be
Slide 19: Resolution 2: Director Election
Resolution 2: Director Election That Yi (Julia) Zhu be elected as a Director. Voting Online To vote, click the vote tab and select your preferred option. Once your vote is cast, a tick will appear. There is no submit or send button; your selection is automatically recorded, although it can be change
Slide 20: Resolution 3: Auditor's Remuneration
Resolution 3: Auditor’s Remuneration That the Board be authorised to determine the auditor’s fees and expenses for the coming financial year. Voting Online To vote, click the vote tab and select your preferred option. Once your vote is cast, a tick will appear. There is no submit or send button; you
Slide 21: Resolution 4: North Island Sale
Resolution 4: North Island Sale That the North Island Sale is approved under and for the purposes of NZX Listing Rule 5.1.1(b). Voting Online To vote, click the vote tab and select your preferred option. Once your vote is cast, a tick will appear. There is no submit or send button; your selection is
Slide 22: Proxy Votes Cast Ahead Of The Meeting
Proxy Votes Cast Ahead Of The Meeting For Open Against Total Abstain 520,632,893 1,282,448 344,101 Resolution 1 (99.69%) (0.25%) (0.07%) 522,259,442 180,125 520,561,128 1,285,927 337,317 Resolution 2 (99.69%) (0.25%) (0.06%) 522,184,372 255,195 520,770,385 1,276,803 185,257 Resolution 3 (99.72%) (0.
Slide 23: Other Business
Other Business PAGE 23 ANNUAL MEETING PRESENTATION 2025
Slide 24: Asking A Question Online
Asking A Question Online • To ask a question, click on the Q&A icon. • Click on the box, type your question, and press submit. • Your question will be asked at the appropriate part of the meeting. • Please ensure questions are concise, clear, and relevant to the meeting. PAGE 24 ANNUAL MEETING PRESE
Slide 25: This Concludes Synlait's 2025 Annual Meeting
This Concludes Synlait’s 2025 Annual Meeting PAGE 25 ANNUAL MEETING PRESENTATION 2025
Slide 26: Disclaimer
Disclaimer This presentation is given on behalf of Synlait Milk Limited (Synlait). Information in this All currency amounts are expressed in New Zealand dollars unless otherwise stated presentation: and figures, including percentage movements, are subject to rounding. Similarly, unless otherwise ind