Market Overview

The a2 Milk Company™ Launches into Walmart

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A true natural innovation, a2 Milk® continues to
aggressively drive brand awareness and store distribution partnerships
with national retailers

The
a2 Milk Company
™ today announced it has secured distribution into
Walmart stores across New York, Pennsylvania, Florida, Texas, Maryland,
and Washington DC.

The products became available in stores on July 27, furthering the
growth of its brand across the U.S.

Named one of Fast Company's Most Innovative Companies in Food in 2018,
the Australian headquartered dairy-based nutrition company that produces
easier on the digestion, 100% real milk products has seen a sharp
increase in consumer demand with major retail outlets now stocking the
products.

"Achieving distribution with such a powerful and respected retailer like
Walmart further validates the a2 Milk® brand proposition in the US and
marks a critical point in our company's drive to bring consumers back to
dairy by providing our products to the roughly 75 million Americans who
report dairy intolerance," said Blake Waltrip, Boulder Colorado-based US
CEO of The
a2 Milk Company
™. "The a2 Milk® proposition is unique in the dairy
industry, and we are looking forward to continuing to spread awareness
of the benefits of A1 protein free milk with the first to market brand,
a2 Milk®."

The
a2 Milk Company
™ global Managing Director and CEO Jayne Hrdlicka
added: "We are thrilled that millions more Americans will now have the
opportunity to bring a2 Milk® into their homes for their families. Our
products offer a natural solution to those people who experience
digestive discomfort from dairy and this is the next step of our goal of
giving everyone the chance to enjoy the nutritious benefits of real
milk."

The partnership with Walmart adds to the continuous success, opportunity
and growth the company has exhibited since expanding in to the U.S.

The a2 Milk Company™ has already announced a major expansion in the U.S.
market into the northeast, making products available in New York, New
Jersey, Connecticut, Massachusetts, Delaware, Pennsylvania and Rhode
Island. The products are now available across the U.S.

In addition to Walmart, consumers can now find a2 Milk® at more than
6,000 retail outlets in the U.S. including at major grocers Wegmans,
Stop & Shop, Giant Carlisle, Giant Landover, Whole Foods Market, Market
Basket, Sprouts, Safeway, King Soopers, Target, Ralphs, Publix, ShopRite
and The Fresh Market.

An increase in year-over-year global sales helped fuel a 68 percent rise
in total combined annual revenue for The a2 Milk Company™ (ATM.NZ
A2M.AU), which posted a 101 percent gain in FY18 operating EBITDA in its
annual results on August 22.

Ms. Hrdlicka took over as the Company's MD and CEO last month after
spending five years running Jetstar Airways Pty Ltd., a Qantas group
multinational budget airline. Ms. Hrdlicka also serves as President and
Chair of Tennis Australia Limited.

About The a2 Milk Company

The a2 Milk® Corporation was founded in 2000 in New Zealand by Dr.
Corran McLachlan after a scientific discovery showed that proteins in
milk affect people differently. Specifically, he noted that ordinary
cows produce milk contains 2 different beta-casein protein types, called
A1 and A2, which are digested differently.

Research over the years demonstrates that many people who have
discomfort when drinking ordinary cows' milk were able to drink the
natural a2 Milk® brand without the downsides. That's because a2 Milk®
naturally contains only the A2 protein type and no A1.

Since its foundation the company has flourished in its home market
Australia, where it is the leading premium milk brand with ~10% of the
total supermarket milk category and more recently has become market
leader in infant formula with 32% share. This success has also
translated into the China market with 5.1% share of the lucrative China
infant formula category.

The a2 Milk Company™ works closely with all their U.S. farmers and all
their farms are certified by Validus for animal welfare. The a2 Milk
Company pays a premium to all its farmers when sourcing A1 protein free
milk in Australia, New Zealand, UK and the U.S.

a2 Milk® products include Whole, 2% Reduced Fat, Chocolate 2% Reduced
Fat and 1% Low Fat

For more information on The a2 Milk Company™, its products and location
availability, please visit a2milk.com.

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