Synlait increases forecast milk price for 2024/2025 season

Synlait Milk Limited (Synlait) has increased its forecast base milk price for the 2024/2025 season. The forecast for the 2024/2025 season has increased to $8.60 per kgMS, up from $8.00 per kgMS. Despite the forecast increase, Synlait continues to take a conservative approach to its 2024/2025 forecast, given the exposure to volatile future global dairy commodity prices at the beginning of the season. Retention of Synlait's milk supply remains a critical priority for the company. Synlait is committed to delivering a competitive milk price and advanced rate profile, which has also been lifted for 2024/2025 to ensure the company's on-farm offering remains attractive to farmer suppliers. Synlait will continue to monitor future forecast movements and update farmer suppliers as needed. Synlait’s final milk price for the 2023/2024 season will be confirmed when the company’s full-year result is released on 30 September 2024. Forecasts are based on the best information available to Synlait at the time. For more information contact: Hannah Lynch Head of Strategy & Corporate Affairs P: +64 21 252 8990 E: hannah.lynch@synlait.com