Noumi Limited · ASX:NOU
Noumi — H1 FY26 Earnings Presentation
28 slides from Noumi's earnings presentation, Feb 24, 2026
Slide 1: Noumi Limited H1 FY26 Results
Noumi Limited H1 FY26 Results 24 February 2026
Slide 2: Important notice and disclaimer
Important notice and disclaimer Summary Information Only This presentation criteria contains general information about Noumi Limited and its consolidated entities (“Noumi Limited”) and its activities current as at the date of this presentation. It is provided in summary and does not purport to be co
Slide 3: H1 FY26 Overview and Progress
H1 FY26 Overview and Progress Noumi Limited | H1 FY26 Results 3
Slide 4: Strategy delivering
Strategy delivering Strategy turns to growth – strong EBITDA growth as well as investing for the future. Plant-based Milks delivers record sales with growth in all key strategic channels – Milklab in retail, HORECA and export. Flagship Milklab brand grew both in Plant-based Milks and Dairy & Nutriti
Slide 5: Our Business Units
Our Business Units
Slide 6: Our Brands
Noumi has a broad portfolio of strong Our Brands brands that meet differing consumer needs and occasions across multiple markets. 6
Slide 7: Financial performance highlights
Financial performance highlights Adjusted operating EBITDA of $33.9m up 23.3% on H1 FY25. Plant-based Milks record sales of $94.3m up 1.1% and adjusted operating EBITDA of $22.9m after investments. Overall Milklab sales up 11.1% across Plant-based Milks and Dairy & Nutritionals. Plant-based Milks HO
Slide 8: Financial highlights
FINANCIAL HIGHLIGHTS $33.9m $12.4m $22.9m Adj Op EBITDA 1,2 Dairy & Nutritionals Adj Op EBITDA 1 Plant-based Milks Adj Op EBITDA 1 $6.4m $7.8m $2.4m $332.7m $238.4m $94.3m Net Revenue Dairy & Nutritionals Net Revenue Plant-based Milks Net Revenue $33.4m $32.4m $1.0m ($24.2m) Statutory net loss after
Slide 9: Revenue highlights
Revenue highlights HORECA EXPORT In retail plant-based Returns to Growth Lactose Free Plant-based Milks milks 2.5% 16.9% 18.4% 51.8% DAIRY MILK COMMODITIES Disciplined return to Oat Bulk Cream export markets 22.5% 42.4% 69.2%
Slide 10: Investments for the future
Investments for the future H1 Spend Global Brand Guidelines NPD investments Sales and marketing Supporting Milklab becoming New Soy and Lactose free spend of $19.6m up 43.6% an international brand with launches in H2, cold drink and more to come in H2 consistent execution applications and strong pip
Slide 11: Marketing investment accelerates
Marketing investment accelerates BRAND MEDIA & COMMUNICATIONS ACTIVATIONS & EVENTS Noumi Limited | H1 FY26 Results 11
Slide 12: Further development of our team
Further development of our team Over 500 talented team members around the globe driving performance and success. Investing in additional HORECA sales team to support incremental marketing initiatives. Safety metrics continue to improve across both sites. New safety culture program launched. Frontlin
Slide 13: Noumi – Key manufacturing sites
Noumi – Key manufacturing sites Dairy & Nutritionals Plant-based Milks Shepparton, VIC Ingleburn, NSW • Noumi Nutritionals is a leading Australian • Our state-of-the-art facility in Ingleburn, manufacturer of quality Long-life dairy New South Wales specialises in the products and premium protein dev
Slide 14: The Healthier Tomorrow Plan
The Healthier Imagining a Healthier Tomorrow is Noumi’s strategic Tomorrow Plan purpose and our guiding light as we seek to create a positive impact by promoting: For our consumers Through our farmers For our people & communities & production processes & stakeholders These Principles are the foundat
Slide 15: Strategy
Strategy V7 noumi. Imagining a healthier tomorrow
Slide 16: Delivering a Healthier Tomorrow
Delivering a Healthier Tomorrow Healthier Planet, Healthier Lifestyles, Healthier Workplace =. - <> ~ : ™ . ~ . ° 4 s =~ es | BARISTA’S RETAIL INTERNATIONAL DAIRY AND FUTURE GROWTH ? ~ es > St CHANNEL MARKETS NUTRITIONALS PLATFORMS a Strategic Priorities
Slide 17: Strategy | Plant-based Milks
Strategy | Plant-based Milks Focus Areas Targeted investments following resolution of legacy issues and more consistent earnings across both segments. Build on the successful launch of Milklab in retail with brand, activation and new product development initiatives. Launching improved Soy formulatio
Slide 18: Strategy | Dairy & Nutritionals
Strategy | Dairy & Nutritionals Focus Areas Maximise value of key milk components – fat and protein. Build out portfolio of specialty dairy formats and products – such as an improved lactose free. Improvement through world class operational excellence programs and targeted sales approach. Enhance lo
Slide 19: Financial Performance
Financial Performance . noumii. Imagining a healthier tomorrow
Slide 20: H1 FY26 Earnings
H1 FY26 Earnings Summary of performance H1 FY26 ($m) H1 FY25 ($m) Change ($m) Net revenue up $33.4m – Milklab overall sales up 11.1%; Export Long-life dairy up 69.2% and plant-based export sales Net revenue 332.7 299.3 33.4 up 18.4% Adj operating EBITDA1, 2 33.9 27.5 6.4 Non-operating items incl. li
Slide 21: Financial Performance | Plant-based Milks
Financial Performance | Plant-based Milks Financial results Summary of performance H1 FY26 H1 FY25 Change Change ($m) ($m) ($m) Record revenues with gains in key strategic channels. EBITDA Net revenue 94.3 93.3 1.0 1.1% reflects investments in channels, international and products. Adjusted operating
Slide 22: Financial Performance | Dairy & Nutritionals
Financial Performance | Dairy & Nutritionals Financial results Summary of performance H1 FY26 H1FY25 Change Change ($m) ($m) ($m) Positive adjusted operating EBITDA more than doubled from $4.6m in H1 FY25 to $12.4m Net revenue 238.4 206.1 32.3 15.7% Net revenue excl. Traded Milk 233.9 194.9 39.0 20.
Slide 23: H1 FY26 Balance Sheet
H1 FY26 Balance Sheet Summary Cash and Borrowings Cash at bank of $12.5m with undrawn finance facility of H1 FY26 FY25 Change $10.0m provides liquidity for operations based on current ($m) ($m) ($m) conditions and expectations Cash and cash equivalents 12.5 16.2 (3.7) Financial debt (excl. Convertib
Slide 24: Capital structure overview
Capital structure overview Summary Drawn Facility Latest Convertible notes maturity to address gearing levels. Currently Balance at 31 December 2025 amount limit maturity ~10.5x LTM EBITDA post AASB16 (including Convertible ($m) ($m) date Notes). Revolver Finance Facility (36.0) (46.0) Mar-27 Conver
Slide 25: Cash Flow
Cash Flow Summary H1 FY26 H1 FY25 ($m) ($m) Net cash flow from operations below last year. Inventory Cash generated from trading 22.7 40.1 increased to target level and receivables reflect export growth. Net finance costs (8.7) (9.8) Property, plant and equipment (2.5) (2.1) Working capital manageme
Slide 26: Outlook
Outlook The maturity of the Convertible Notes represents a significant amount of capital relative to the Company’s market capitalisation. The outcome of the process to address the maturity of the Convertible Notes, including the impact on the equity value of the business, remains uncertain. Noumi wi
Slide 27: jon
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Slide 28: noumi. Imagining a healthier tomorrow
noumi. Imagining a healthier tomorrow