Comvita Limited · NZX:CVT
Comvita — Shareholder Meeting (October 2026)
46 slides from Comvita's shareholder meeting presentation, Oct 28, 2026
Slide 1: Annual Shareholders Meeting
Annual Shareholders Meeting 28 OCTOBER 2026
Slide 2: Disclaimer
DISCLAIMER IMPORTANT NOTICE This presentation is given on behalf of Comvita Limited. Information in this presentation: • Should be read in conjunction with, and is subject to, Comvita’s Annual Reports, Interim Reports and market releases on NZX; • Is from the audited Annual results for the year ende
Slide 3: Karakia Timatanga Opening Karakia
Karakia Timatanga Opening Karakia Nikki Reedy, Comvita Customer Experience Manager E te Atua, Tukua te wairua kia rere Let the spirit exercise its potential Hei arahia a mātou mahi i tēnei rangi To guide us in our work that we do today Homaitia tōu māramatanga me tōu rangimārie Give us your knowledg
Slide 4: Chair Address
Bridget Coates Chair Address
Slide 5: Board of Directors
Board of Directors Bridget Coates Michael Sang Bob Major Gregor Barclay Chair, Independent Director Independent Director Independent Director Independent Director Appointed Director Jul - 21 Appointed Director Sept - 23 Appointed Director Sept - 19 Appointed Chair Aug - 24 Appointed Chair of A&RC Au
Slide 6: Voting Instructions and Asking Questions
Voting Instructions and Asking Questions • In person voting • Mark your voting paper “For ”, “Against ” or “Abstain .” • Your voting paper will be collected from you. • Online Voting • Click ' Get a Voting Card ' and enter shareholder or proxyholder number. • Select 'For' , ' Against ' or ' Abstain
Slide 7: Formalities
Formalities • Notice of Meeting • Quorum • Proxies • Annual Financial Statements
Slide 8: Agenda
Agenda A. Introduction and Formalities B. Chair’s Address C. CEO Address D. Reports and Financial Statements E. Ordinary Resolutions F. Question and Answer Session G. General Business
Slide 9: Delivered On Our Priorities
Delivered On Our Priorities The Board’s focus for FY26 was clear: deliver the stronger financial and organisational foundations Comvita needed. ✓ Balance sheet strengthened • $40.5M capital raise completed. • Refinancing secured to September 2028. • Net debt* reduced from $62.4M to $0.5M net cash. •
Slide 10: Clear Expectations for Next Phase
Clear Expectations for Next Phase With stronger foundations in place, the focus is now on executing the strategy and increasing shareholder value FOCUS EXECUTION CAPABILITY • Clear strategic priorities • Greater commercial rigour • Leadership and across markets, channels, and discipline. governance
Slide 11: Board Capability for the Next Phase
Board Capability for the Next Phase Shareholders will determine the composition of the Board today • Renewal • Board capability has continued to evolve following the recapitalisation. • Recent appointments enhance previous FMCG, offshore market, consumer and operational experience . • Continuity • C
Slide 12: CEO Address
CEO Address Karl Gradon
Slide 13: A Leadership Team Built To Deliver
A Leadership Team Built To Deliver Karl Gradon Mandy Tomkins - Dancey Dr Emma Blott Andrea Wilkins Chief Executive Officer Chief Financial Officer Chief Commercial Officer Chief Marketing Officer Nikki Leske Erin Swanson Dr Jackie Evans Ben Duncan Chief People & Culture Officer Head of Sustainabilit
Slide 14: A Category In Transition
A Category In Transition Global demand is broadening, competition is intensifying and quality supply is becoming more valuable • Demand is broadening • North America is now largest Mānuka market. Honey Exports and Hive Numbers • Growth beyond China is diversifying category demand. 14,000 1,000,000 •
Slide 15: Different Markets Require Different Choices
Different Markets Require Different Choices MARKET WHAT WE SEE OUR FOCUS Strong category momentum, low Broaden distribution, build awareness, North America penetration, intense e - commerce diversify beyond individual customers competition and channels Defend premium leadership, optimise Softer dema
Slide 16: Why Comvita Will Win
Why Comvita Will Win Comvita has the trusted global brand, proprietary science, secure supply and established routes to market TRUSTED SCIENCE AND INTEGRATED GLOBAL MARKET GLOBAL BRAND INNOVATION SUPPLY CAPABILITY • Global leader in • Proprietary research • Control from forests • Established positio
Slide 17: Four Priorities Driving Performance
Four Priorities Driving Performance Our priorities are clear, and each is directed towards stronger growth, returns and execution 1. WIN IN PRIORITY MARKETS & 2. STRENGTHEN BRAND & CHANNELS INNOVATION • Sharper priorities across markets, channels • Strengthen premium brand differentiation. and custo
Slide 18: Turning Our Priorities Into Action
Turning Our Priorities Into Action CATEGORIES PROGRESS • Broadening and growing North America distribution. Commercial • Maintaining leadership position in China, while optimising operating model. • Strategic channel and customer focus, to drive improved profitability and growth. • Strengthening and
Slide 19: Manuka
Manuka Honey Lozenges with blackcurrant 2 INGREDIENTS y (6 Lozenges) eS) er Includes 10% UME™ Manuka Honey. to+
Slide 20: Positive Start to FY27 Trading
Positive Start to FY27 Trading Trading and strategy execution progressing well • Update • Group sales (unaudited) for FY27 Q1 increased 4.6% versus FY26 Q1, demonstrating benefit of market and channel diversification strategy. • Gross margin percentage up. • Premium price positioning, tight cost con
Slide 21: Formal Business
Formal Business
Slide 22: Reports and Financial Statements
Reports and Financial Statements
Slide 23: Ordinary Resolutions
Ordinary Resolutions • Appointment and Remuneration of Auditors (Resolution 1) 1. “That the meeting record the re - appointment of KPMG as the auditors of the Company for the current financial year ending 30 June 2027 pursuant to section 207T of the Companies Act 1993, and that the Board be authoris
Slide 24: Voting Instructions and Asking Questions
Voting Instructions and Asking Questions • In person voting • Mark your voting paper “For ”, “Against ” or “Abstain .” • Your voting paper will be collected from you. • Online Voting • Click ' Get a Voting Card ' and enter shareholder or proxyholder number. • Select 'For' , ' Against ' or ' Abstain
Slide 25: Resolution One
Resolution One Appointment and Remuneration of Auditors To consider, and if thought fit to pass, the following ordinary resolution: “That the meeting record the re - appointment of KPMG as the auditors of the Company for the current financial year ending 30 June 2027 pursuant to section 207T of the
Slide 26: Resolution Two
Resolution Two Director’s Election – Mr Michael Sang To consider and if thought fit to pass, the following ordinary resolution: “That Mr Michael Sang, who retires by rotation and is eligible for re - election, be re - elected as a Director of the Company. ”
Slide 27: Director's Election – Mr Michael Sang
Director’s Election – Mr Michael Sang Mr Michael Sang is a professional independent Director. He is Director and Chair of Audit & Risk Committees for Orion NZ and BRANZ. Mr Michael Sang has over 20 years’ experience with a finance background and a career in a variety of sectors, including roles as C
Slide 28: Resolution Three
Resolution Three Director’s Election – Mr Michael Chye To consider and if thought fit to pass, the following ordinary resolution: "That Mr Michael Chye, who was appointed by the Board as a director to fill a casual vacancy with effect from 22 June 2026, be elected as a Director of the Company."
Slide 29: Director's Election – Mr Michael Chye
Director’s Election – Mr Michael Chye Mr Michael Chye is the Chief Executive Officer of BeerCo Limited. He is the Alternate Director on the Board of Fraser and Neave, Limited (F&N) and is a member of F&N’s Board Executive Committee and Sustainability and Risk Management Committee. He also represents
Slide 30: Resolution Four
Resolution Four Director’s Election – Mr Peter Nathan To consider and if thought fit to pass, the following ordinary resolution: "That Mr Peter Nathan, who was appointed by the Board as a director to fill a casual vacancy with effect from 20 July 2026, be elected as a Director of the Company."
Slide 31: Director's Election – Mr Peter Nathan
Director’s Election – Mr Peter Nathan Mr Peter Nathan is an experienced corporate executive with strong financial acumen and pioneer in the infant formula business. Mr Peter Nathan has over 30 years’ experience in the Fast Moving Consumer Goods (FMCG) industry, initially in senior marketing and sale
Slide 32: Resolution Five
Resolution Five Director’s Election – Ms Julia Xu To consider and if thought fit to pass, the following ordinary resolution: "That Ms Julia Xu, who was appointed by the Board as a director to fill a casual vacancy with effect from 20 July 2026, be elected as a Director of the Company."
Slide 33: Director's Election – Ms Julia Xu
Director’s Election – Ms Julia Xu Ms Julia Xu is founder and Managing Director of Oravida and Kauri NZ Investment. Since 2011 she has built Oravida into a premium New Zealand food and beverage brand for Chinese consumers, alongside a diversified investment portfolio spanning property, agriculture an
Slide 34: Resolution Six
Resolution Six Director’s Election – Mr Kosit Suksingha To consider and if thought fit to pass, the following ordinary resolution: “That Mr Kosit Suksingha, who has been nominated to be a director by an Equity Security holder, be elected as a Director of the Company."
Slide 35: Director's Election – Mr Kosit Suksingha
Director’s Election – Mr Kosit Suksingha Mr Kosit Suksingha is currently an Alternate Director to Mr Thapana Sirivadhanabhakdi on the Board of Fraser and Neave, Limited, where he is also a member of the Board Executive Committee and the Sustainability & Risk Management Committee. He is also a nomine
Slide 36: Resolution Seven
Resolution Seven Shareholder Proposal: Director Removal – Mr Robert Major To consider, and if thought fit to pass, the following ordinary resolution, which has been proposed by a shareholder and is required to be put to the meeting for consideration: "That Mr Robert Major be removed from office as a
Slide 37: Shareholder Proposal: Director Removal – Mr Robert Major
Shareholder Proposal: Director Removal – Mr Robert Major Mr Robert Major is an independent director, who has served as a director since September 2019. He is Chair of Comvita's Safety and Performance Committee and is a member of the Audit and Risk Committee. Mr Robert Major is a professional indepen
Slide 38: Resolution Eight
Resolution Eight Shareholder Proposal: Director Removal – Mr Gregor Barclay To consider, and if thought fit to pass, the following ordinary resolution, which has been proposed by a shareholder and is required to be put to the meeting for consideration: "That Mr Gregor Barclay be removed from office
Slide 39: Shareholder Proposal: Director Removal – Mr Gregor Barclay
Shareholder Proposal: Director Removal – Mr Gregor Barclay Mr Gregor Barclay is an independent director, who has served as a director since December 2025 and is a member of the Safety and Performance Committee. He is an experienced governance professional with a strong background across the commerci
Slide 40: Resolution Nine
Resolution Nine Shareholder Proposal: Director Removal – Ms Bridget Coates To consider, and if thought fit to pass, the following ordinary resolution, which has been proposed by a shareholder and is required to be put to the meeting for consideration: “That Ms Bridget Coates be removed as a director
Slide 41: Shareholder Proposal: Director Removal – Ms Bridget Coates
Shareholder Proposal: Director Removal – Ms Bridget Coates Ms Bridget Coates is an independent director, who has served as a director since October 2021 and was appointed Chair of the Board on 31 August 2024. She is a member of the Safety and Performance Committee and the Audit and Risk Committee. M
Slide 42: Resolution Ten
Resolution Ten Directors’ Remuneration To consider and if thought fit to pass, the following ordinary resolution: “That the total annual remuneration payable to all directors of Comvita Limited be increased by $240,000, from $610,000 to $850,000, with effect from 1 November 2026.”
Slide 43: Voting – Proxies Received
Proxy Resolution For Against Discretion 1. Appointment and remuneration of 61,863,655 8,802,871 21,294,023 auditors 67.27% 9.57% 23.16% 66,538,402 3,666,327 21,621,564 Voting – 2. Re - election of Mr Michael Sang 72.46% 3.99% 23.55% 66,676,784 3,628,197 21,627,603 Proxies 3. Election of Mr Michael C
Slide 44: General Business and Q&A Session
General Business and Q&A Session
Slide 45: Meeting Close
Meeting Close
Slide 46: Karakia Whakamutunga Closing Karakia
Karakia Whakamutunga Closing Karakia K ua mutu a mātou mahi i tēnei wā Our work is done for the moment Kia marino Be calm kia whakamoemiti Be thankful Kia manatu Be mindful Kia tuku Be released Kia rite Be ready Kia atamai Be intelligent Hui e Taiki e! Enriched and unified