PROMOTION TERMS & CONDITIONS

First Time Farm Owner Promotional Package

Part A: General Promotional Package Terms and Conditions

1. General: These terms and conditions relate to the package of promotions made available by Farm Source and certain Farm Source suppliers and partners (each a “Promotion” and, together, the “Promotional Package”).

2. Structure of the Promotional Package: These general terms and conditions apply to all Promotions in the Promotional Package. The details of each Promotion forming part of the Promotional Package are set out in the specific terms and conditions for that Promotion (Part B). To the extent of any inconsistency between these general terms and conditions and the specific terms and conditions for a Promotion, these general terms and conditions will prevail.

3. Eligibility:

3.1. The Promotional Package is available to all First Time Farm Owners who are commencing first supply to Fonterra in the 2026/27 season. An owner will be eligible to be a First Time Farm Owner if they:

(a) own 50% or more of the farm entity supplying Fonterra; and

(b) actively manage the farm on a day-to-day basis and have not had a previous controlling interest (e.g. 50% or over) in a dairy landowning business.

3.2. Formal lease to buy arrangements may be included.

3.3. Farm Source reserves the right to exclude any person from participating in the Promotional Package or any Promotion where Farm Source believes that the person:

(a) is not eligible under these terms and conditions;

(b) has engaged in, or attempted to engage in, conduct that is misleading, deceptive, fraudulent or otherwise improper; or

(c) has breached, or attempted to breach, these terms and conditions.

4. Promotional period: The Promotional Package and each Promotion is available from Monday, 1st June 2026 to Monday, 31st May 2027 unless ended sooner or extended further in accordance with these terms and conditions (“Promotional Period”).

5. Acceptance of terms and conditions: Participation in any Promotion is deemed to be acceptance of these terms and conditions.

6. Changes: Farm Source reserves the right to change these terms and conditions, subject to applicable laws (including the Fair Trading Act 1986 and the Consumer Guarantees Act 1993). Farm Source may, at any time, add to, remove, or amend the Promotions described in Part B. The current version of the Promotional Package (together with these terms and conditions) will be available here on the Farm Source website.

7. How to participate: Details of how to participate in each Promotion, including any applicable redemption process, are set out in Part B. Each Promotion is limited to one redemption per First Time Farm Owner during the Promotional Period. All Promotions are subject to supplier participation and availability. Any entitlement to a Promotion must be used within the applicable Promotional Period, after which it will expire and may not be redeemed.

8. Exclusions / cannot be used with other offers: Unless expressly stated otherwise, the Promotional Package is not valid in conjunction with any other discount, promotion, coupon/voucher, bundle offer, special pricing, negotiated pricing, contract pricing, trade pricing, staff pricing, or any other promotional offer. Farm Source may determine, at its sole discretion, whether a transaction is eligible where multiple offers could apply.

9. Non-transferable: Participation in any Promotion (and any entitlement to it) is not transferable, exchangeable or redeemable for cash or store credit (in whole or in part), unless required by law.

10. Pricing: Prices are in New Zealand dollars and include GST (unless stated otherwise) and are subject to change. Delivery, freight, installation, service call-out or other ancillary charges may apply to a Promotion unless expressly stated as included in Part B.

11. Systems / technical issues: Farm Source is not responsible for any problems or technical malfunction of any website, telephone network or lines, computer systems, servers, providers, computer equipment, software, technical problems or traffic congestion, or any combination thereof.

12. Disruption, suspension and supplier participation: Farm Source reserves the right, to the extent permitted by law, to cancel, suspend, withdraw or modify the Promotional Package or any individual Promotion (in whole or in part) at its discretion, including if:

(a) it is not capable of being conducted or administered as planned due to any event beyond Farm Source’s reasonable control;

(b) such action is necessary to protect the proper conduct, fairness, integrity or administration of the Promotional Package;

(c) a supplier withdraws from, or is no longer able to support, a Promotion;

(d) a Promotion is otherwise affected by the availability of products, services or supplier participation.

13. Liability: To the maximum extent permitted by law, Farm Source and its related companies are not liable for any loss, damage or personal injury suffered or sustained by any person arising out of or in connection with the Promotional Package or any Promotion, including:

(a) any losses arising from the use of any products or services supplied under a Promotion; or

(b) any advice or recommendations provided by third parties in connection with a Promotion.

First Time Farm Owners are responsible for determining whether any recommendation, product or service is appropriate for their circumstances and should seek independent advice where appropriate.

14. Privacy: Any Personal information collected in connection with the Promotional Package will be used by Farm Source for the purposes of administering the Promotional Package and verifying eligibility. Personal information may be shared with Farm Source’s suppliers and related companies for these purposes. Please refer to Fonterra’s Privacy Statement (www.fonterra.com/nz/en/privacy-statement) for more information on the collection, use disclosure and storage of your personal information by Farm Source, and how you can access or request correction of your personal information.

Part B: Details of Each Promotion and Additional Terms and Conditions Applying to Them

SupplierDescription of PromotionPricingRedemption processAdditional terms
Free on-farm consultations and products
Ecolab / Skellerup / FILFree dairy shed set-up consultationFree (standard consultation value variable depending on circumstances)Book consultation via Farm Source TSRFree consultation must be booked and completed within the Promotional Period. Consultation availability subject to supplier capacity and geographic coverage.
AgBizFree calf shed consultationFree (standard consultation value variable depending on circumstances)Book consultation via Farm Source TSRFree consultation must be booked and completed within the Promotional Period. Consultation availability subject to supplier capacity and geographic coverage.
Ancalf / NovolyteFree calf rearing products:

  • 5 × 20kg bag of Ancalf (SKU: 213260); and
  • 1 × 12kg pail of Novolyte (SKU: 261296)
Free (standard retail price at the start of the Promotional Period is $977.44 Inc GST)Request from Farm Source TSRFixed quantities, no exchanges or substitutions, while stocks last and not redeemable for cash or credit.
BarenbrugFree pasture health consultationFree (standard consultation value variable depending on circumstances)Book consultation via Farm Source TSRFree consultation must be booked and completed within the Promotional Period. Consultation availability subject to supplier capacity and geographic coverage.
NufarmFree herbicide product: 1 × 15L Crucial Herbicide (SKU: 262444)Free (standard retail price at the start of the Promotional Period is $269.99 Inc GST)Request from Farm Source TSRFixed quantities, no exchanges or substitutions, while stocks last and not redeemable for cash or credit.
Discounted dairy shed workwear kits
360Discounted dairy shed workwear kit:

  • 1 x 360 gumboots (Article 261428)
  • 1 x 360 milking apron (Article 263745)
  • 1x 360 milking sleeve (article 261287)
  • 1 x 360 dairy shed parka (Article 264003)
  • 1 x 360 dairy shed bib (Article 264005)
$350 (standard retail price for the products at the start of the Promotional Period is $594.95)Redeem in-store using promotion code: FTFO2026Fixed bundle, no exchanges, substitutions or partial purchases, sizes and colours subject to availability, while stocks last and not redeemable for cash or credit. Standard returns policy applies only to unused items in original condition. Offer ends 31 August 2026.
KaiwakaDiscounted dairy shed workwear kit:

  • 1 x Kaiwaka milking apron (Article 250496)
  • 1 x Kaiwaka sleeve protector (Article 250460)
  • 1 x Sealtex parka (Article 233089)
  • 1 x Sealex overtrousers bib (Article 233090)
$450 (standard retail price for the products at the start of the Promotional Period is $654.96)Redeem in-store using promotion code: FTFO2026Fixed bundle, no exchanges, substitutions or partial purchases, sizes and colours subject to availability, while stocks last and not redeemable for cash or credit. Standard returns policy applies only to unused items in original condition. Offer ends 31 August 2026.
Discounted fuel and bills
Allied PetroleumDiscount to On Farm Fuel billDiscount of 13 cents per litre for a three month periodComplete an On Farm Fuel application form using promotion code: FTFO2026.Subject to supplier pricing and market conditions. Three-month period must be consecutive. Maximum volumes and/or deliveries per month may apply.
2degreesDiscount to Telco connectivity bill (bundle includes: 2 x mobile plans and 1 x broadband and landline plan)1/3 off bill for 12 monthsComplete partner Farm Source Billing Authority Form using promotion code: FTFO2026Applies to specified bundle only and supplier contract terms apply. 12-month period must be consecutive. Discount applies only to standard recurring monthly plan charges and not to any usage-based, variable or one-off charges, including call charges, tolls, roaming charges, international calls, excess data, text, premium services, add-ons, late payment fees or other account charges. Early termination fees or minimum term commitments may apply per supplier contract terms. Network coverage dependent on location.
GallagherDiscount to Gallagher Farm Cover insurance premium bill1/3 off bill for three months (applied across a 12 month period)Complete partner Farm Source Billing Authority Form using promotion code: FTFO2026Discount is equivalent to one-third off the eligible premium amount for three months and will be applied as a credit or reduction spread across the First Time Farm Owner’s premium payments over a 12 month period. Subject to underwriting approval and policy terms. Three-month period must be consecutive. Early termination fees and minimum term commitments may apply per policy terms.
Discounted on-farm subscriptions
TrevDiscount to Trev subscription fees1/3 off subscription fees for 12 monthsComplete partner Farm Source Billing Authority Form using promotion code: FTFO2026Supplier contract terms apply. 12 month period must be consecutive. Discount applies to standard base subscription fees only (excludes hardware, installation, onboarding, and add-ons). Early termination fees and minimum term commitments may apply per supplier contract terms.
AimerDiscount to Aimer Farming subscription fees1/3 off subscription fees for 12 monthsComplete partner Farm Source Billing Authority Form using promotion code: FTFO2026Supplier contract terms apply. 12-month period must be consecutive. Discount applies to standard base subscription fees only. Early termination fees and minimum term commitments may apply per supplier contract terms.
SenseHubDiscount to SenseHub cow collar subscription fees1/3 off subscription fees for 12 months ( applied as the first four months free)Complete partner Farm Source Billing Authority Form using promotion code: FTFO2026Discount applied by waiving the first four months of subscription fees, with the remaining eight months being charged at standard rates. Supplier contract terms apply. Discount applies to standard base subscription fees only (excludes additional hardware and add-ons, installation and onboarding is included). Minimum subscription term of five years. Early termination fees may apply per supplier contract terms.
CoolcareDiscount on PAUS lease programme1/3 off bill for 12 months (applied as the first four months free)Complete partner Farm Source Billing Authority Form using promotion code: FTFO2026Discount applied by waiving the first four months of subscription fees, with the remaining eight months being charged at standard rates. Supplier contract terms apply. 12-month period must be consecutive. Discount applies to standard base subscription fees only (excludes hardware, installation, onboarding, and add-ons). Minimum subscription term of seven years. Early termination fees may apply per supplier contract terms.
Discounted vehicles and farm equipment
SurronDiscount on Light Bee X Electric farm bike1/3 off standard retail priceRedeem in-store using promotion code: FTFO2026While stocks last. Not redeemable for cash or credit. Lead times may vary. Excludes on-road costs, accessories and delivery. Discount is provided for the First Time Farm Owner’s own on-farm business use and not for resale. Farm Source may decline or reverse the discount if it reasonably considers the bike has been purchased for resale or commercial re-supply.

Part C: Your Co-Op Credit Advance | Terms Of Advance

1. The Contract

  • These First Time Farm Owner Advice terms and conditions, together with the Fonterra Farm Source Terms of Supply of Goods and Services (Terms of Supply), contain the terms and conditions on which you have agreed to receive this Advance from us, in the form of credit on your Farm Source Account. For full details visit Fonterra Farmers Terms of Supply.
  • On completion and acceptance of your application, the $15,000 advance will be processed as credit onto your Farm Source account (the FTFO Advance).
  • Applications for the FTFO Advance are accepted or declined at Fonterra’s discretion.

2. Conditions of Eligibility

  • You must be a First Time Dairy Farm Owner who is commencing first supply to Fonterra in the 2026/27 season.
  • Being a First Time Dairy Farm Owner (“FTFO”, “you”) means:
  • Any farm where the first-time farm owner owns 50% or more of the farm entity supplying Fonterra; and
  • Is actively managing the farm on a day-to-day basis and hasn’t had a previous controlling interest (e.g. 50% or over) in a dairy landowning business.
  • Formal lease to buy arrangements may be included.
  • All eligibility will be determined by Fonterra.

3. Finance

  • You are limited to one FTFO Advance.
  • The FTFO Advance may be used alongside any other Farm Source credit facilities that you may be eligible for from time to time.

4. Repayment

  • You agree to pay your Farm Source account balance via milk cheque deduction for the duration of the FTFO Advance.
  • We will deduct the outstanding FTFO Advance amount from any milk payments and dividend payments owing to you (in the June 2028, paid July 2028 milk payment).
  • You have the option to repay the FTFO Advance sooner in full, as it suits you.

5. Cessation of Supply or Change of Structure

  • If your entity ceases supplying milk to the Co-op, the FTFO Advance will be required to be repaid immediately on the effective date of the cease (generally on 1 June).
  • If you change your supplying entity ownership structure, you are required to notify us. The FTFO Advance may become immediately repayable at Fonterra’s discretion.

6. Interest

  • The FTFO Advance is interest free until 30 June 2028. If your entity ceases supplying milk to Fonterra the FTFO Advance will be required to be repaid immediately, and any outstanding amounts will be charged interest at Farm Source’s then current default interest rate.
  • Interest may be charged after 30 June 2028 on any amount not paid, at Farm Source’s default interest rate, currently 6.7%.

7. Security

  • No security will he held over your shares or other assets in relation to the FTFO Advance.