Comvita (CVT) investor relations material

Opening remarks and agenda

• Hybrid AGM opened after quorum confirmation; proxies represented ~91.8m shares, over 70% of total. Formal business included reports, 10 ordinary resolutions, Q&A and general business.

• Chair and CEO presentations covered FY26 commitments, market conditions, strategic priorities and the financial outlook.

Financial performance review

• FY26 operating profit was $14.0m, NPAT $7.7m and free cash flow $30.3m; revenue grew 10.7%, gross profit 38.8% and operating expenses fell NZD 12.2m.

• May 2026 recapitalization raised NZD 40.5m; net debt of NZD 62.4m at FY25-end became net cash of NZD 0.5m at FY26-end, with bank facilities refinanced to September 2028.

• Inventory fell from NZD 135m at FY24-end to NZD 79.9m at FY26-end, returning inventory days to the target range.

• FY27 Q1 unaudited sales rose 4.6% year on year and gross margin percentage increased; excluding FX, profitability was in line with prior year and trading met internal targets.

• FY27 guidance was deferred pending market, FX, geopolitical and honey-season clarity, and planned by or with February half-year results.

Board and executive committee updates

• Michael Chye, Peter Nathan and Julia Xu joined the board in 2026; shareholders were asked to elect them and re-elect Michael Sang. Kosit Suksingha was nominated by an equity security holder.

• The board said recent appointments brought FMCG, offshore-market, consumer and operational experience; executive leadership appointments strengthened commercial, operations, finance, marketing, science and people functions.

• The executive leadership team included CEO Karl Gradon, CFO Mandy Tomkins-Dancey and Chief Science Officer Dr Jackie Evans, alongside commercial, operations, marketing, people and sustainability leaders.