Bubs Australia Ltd. · ASX:BUB

Bubs Australia — Corporate Update (September 2026)

14 slides from Bubs Australia's corporate update, Sep 10, 2026

1. Slide 1: FDA Authorisation

   rsonal use only FDA Authorisation BUBS AUSTRALIA LIMITED 10 Sep 2026 Joe Coote – CEO Chris Rowe – CFO Jasmin Manner – President - USA

2. Slide 2: Disclaimer

   This presentation is in summary form and is not necessarily complete. It should be read together with the Company’s other announcements lodged with the Australian Securities Exchange. ​ This presentation contains information that is based on projected and/or estimated expectations, rsonal use only a

3. Slide 3: FDA permanent authorisation secured - transformation milestone 4 years in the making

   FDA permanent authorisation secured - transformation milestone 4 years in the making rsonal use only Permanent FDA authorisation secured for Bubs Goat, Bubs 365 Day Grass Fed and Bubs Essential infant formula products Establishes Bubs among a limited group of non-US Our Purpose manufacturers authori

4. Slide 4: Permanent FDA authorisation secures the USA as a cornerstone of our global portfolio

   Permanent FDA authorisation secures the USA as a cornerstone of our global portfolio, strengthening conviction to accelerate profitable, sustainable growth rsonal use only Strategy Portfolio Brands Strategic pillars Infant milk Toddler Adult Activate Brand and Build a Winning Connect Farm to Product

5. Slide 5: Board and Executive leadership with deep, proven US infant formula experience

   Board and Executive leadership with deep, proven US infant formula experience Board rsonal use only Paul Jensen Steve Lin Joe Coote Lori Tauber Marcus Pascal De Petrini Chair Non-executive Director CEO & Managing Director Non-executive Director Non-executive Director Speaker Leadership Jasmin Manner

6. Slide 6: Competing where growth is strongest

   Competing where growth is strongest USA Infant Formula Total Addressable Market (AUD) rsonal use only Total IMF Premium Natural IMF Goat IMF Premium Natural Goat segment 12% of total market1 Bubs 48% of Premium Natural1 24% market share1 $7.2b $842m $400m Bubs 11% market share1 4-year CAGR = 3.9%2 4

7. Slide 7: Five years into USA growth strategy

   Five years into USA growth strategy rsonal use only BUB USA Sales Revenue • Built a distribution network of scale and 65.8 invested in continuity of supply CAGR 52% 53.1 • Built awareness and demand for the 35.0 Goat category 23.9 • Confident to invest for long-term growth 8.1 FY22 FY23 FY24 FY25 FY

8. Slide 8: We are scaling distribution while strengthening premium brand positioning

   We are scaling distribution while strengthening premium brand positioning Expand within existing Expand distribution door count Improve in-store Increased facings and incremental accounts productivity displays rsonal use only 10,000+ 50 2500+ 5,558 477 4,368 3871 3301 3301 4831 2257 1067 2025 Feb-26

9. Slide 9: Permanent FDA authorisation secured – accelerating the USA marketing flywheel

   Permanent FDA authorisation secured – accelerating the USA marketing flywheel 1 Marketing Mix Modelling (MMM) provides measurement and confidence to invest behind the brand. Our 360° campaign educates on rsonal use only goat milk benefits and Australian provenance. 4 1 Reinvest to Reach priority sca

10. Slide 10: FDA authorisation supports a higher-value, scalable USA profit platform

    FDA authorisation supports a higher-value, scalable USA profit platform rsonal use only RENOVATE THE CORE INNOVATE TO BROADEN Build a stronger premium shelf proposition Broaden the portfolio with the strongest US growth opportunities • Refresh to support price • Scale the infant formula and mix port

11. Slide 11: We are pursuing contract manufacturing opportunities that leverage available capacity

    We are pursuing contract manufacturing opportunities that leverage available capacity in our world class farm to formula value chain rsonal use only Bubs Farm to Formula Value Chain • Assessing contract manufacture segment (total USA TAM $350m+)1 • Leverage open capacity in our world class farm to f

12. Slide 12: Supply network options will be actioned selectively as they meet clear growth, risk and return hurdles

    Supply network options will be actioned selectively as they meet clear growth, risk and return hurdles rsonal use only Future network scenarios • Mapped options for buy, build and rent options FARM DRYING CANNING DISTRIBUTE CUSTOMER • Trade off assessment: cost, USA capital efficiency and responsive

13. Slide 13: FDA authorisation underpins Bubs' differentiated platform for sustained, profitable growth

    FDA authorisation underpins Bub’s differentiated platform for sustained, profitable growth rsonal use only Attractive category with high barriers to Proven brand equity in the premium natural Build financial momentum entry and strong margins market Highly experienced Board and leadership Diversified

14. Slide 14: rsonal use only

    rsonal use only

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