Glanbia plcAnnual Report 2011Financial statementswww.glanbia.comThe receivables from related parties arise mainly from sale transactions and are due two months after the date of sale. Thereceivables are unsecured in nature and only bear interest when receivables are due more than three months after the dateof sale. The payables to related parties arise mainly from purchase transactions and are due one month after the date ofpurchase. The payables bear no interest.1 Purchases, sales and related year-end balances involving key management refer to trading balances with Directors who are engagedin farming activities. No loans were made to key management or associates during the year (2010: nil).(d) Key management compensation22011Company?'0002011Group?'0002010Company?'0002010Group?'000Salaries and other short-term employee benefits- 3,357- 3,671Post-employment benefits- 456- 354Share based payments- 1,368- 2,004Non-executive Directors fees684684 591 591 684 5,865 591 6,6202 Key management compensation includes Directors (executive and non-executive) and members of the Group Operating Executive Committee, including the Group Secretary. In November 2010, the Group revised its Group leadership structure to include a Group Operating Executive and a Group Management Committee.2011Company?'0002011Group?'0002010Company?'0002010Group?'000Receivables from related parties:- Glanbia Co-operative Society Limited- 19- 682- Associates--- 118- Joint ventures- 3,987- 6,764- Key management¹- 284- 207- 4,290- 7,771Payables to related parties:- Glanbia Co-operative Society Limited--- 31- Associates- 1,581- 1,972- Joint ventures- 45,647- 28,087- Key management¹- 176- 204- Subsidiaries 60,216- 101,249- 60,216 47,404 101,249 30,294(c) Year-end balances arising from sales/purchases of goods/services

Glanbia plcAnnual Report 2011Financial statementswww.glanbia.com38. Events after the reporting periodThere were no significant events, outside the ordinary course of business, affecting the Group since 31 December 2011.The USD 10.0 million loan to Southwest Cheese Company, LLC is due on 31 July 2012. The GBP 4.8 million loan toNutricima Limited is due on 30 April 2012. It is expected both loans will roll over on the repayment dates.2011Company?'0002011Group?'0002010Company?'0002010Group?'000Loans receivableAt the beginning of the year- 13,060- 33,718Foreign exchange difference on opening balance- 415- 2,384Loans advanced--- 3,742Loans repaid---(26,784)At the end of the year- 13,475- 13,060Interest on loans receivableAt the beginning of the year- 392- 391Foreign exchange difference on opening balance- 13- 30Interest charged- 542- 1,229Interest received-(841)-(1,258)At the end of the year- 106- 392Total loans and interest receivable at the end of the year- 13,581- 13,452(e) Loans to joint ventures