Slide 1: 1H FY25 Results
rsonal use only Investor Presentation 1H FY25 Results 19 March 2025 Peter Davey CHIEF EXECUTIVE OFFICER Andrew Allibon CHIEF FINANCIAL OFFICER
Slide 2: Agenda
Agenda rsonal use only Company overview 1H FY25 Highlights Financial Review Operational Overview Strategy and Outlook 2
Slide 3: About Clover Corporation
About Clover Corporation We develop and produce encapsulated bioactive ingredients, specialising in high-value nutritional oils for infant formula, medical foods, and functional rsonal use only foods. We deliver high-value nutritional solutions that enhance product stability, bioavailability, and he
Slide 4: 1H FY25 Highlights
rsonal use only 1H FY25 Highlights 4
Slide 5: Half Year Financial Highlights
Half Year Financial Highlights $37.6m $33.2m Revenue in line with guidance, up 38% on 1H FY24 $27.3M. rsonal use only Gross margin improvement 200bp Revenue up 38% Working capital EBITDA growth underpinned by sales growth and gross down $4.9m margin improvement from customer / product mix and , manu
Slide 6: Half Year Operational Highlights
Half Year Operational Highlights rsonal use only • A recovery of both IF and other business across Europe and ANZ • New products continue to diversify the business • Customer engagement remains a key focus with recovery of diversified sales in Infant Formula and food segments • Improved operational
Slide 7: First & Second Half Performances
First & Second Half Performances FY23 rsonal use only • 1H Driven by stock build ahead of China licensing which came into effect Feb 23 • 2H Demand reduced following stock build and introduction of China GB license FY24 • 1H Market demand fell – high inventory and ongoing low birth rates • China mov
Slide 8: Financial Review
rsonal use only Financial Review 8
Slide 9: Profit and Loss 1H 2025
Profit and Loss 1H 2025 rsonal use only AUD Million 1H 2025 1H 2024 Change • Revenue up 38% following a significant recovery across Europe and ANZ Revenue ($m) $37.6 $27.3 +38% • Gross margin improvement underpinned by customer /product mix and EBITDA ($m) $4.3 $0.3 +$4.0m manufacturing performance
Slide 10: Cashflow statement 1H 2025
Cashflow statement 1H 2025 Cash flow 1H 2025 1H 2024 rsonal use only Receipts from customers 37,461 25,931 Payments to suppliers and employees (27,847) (26,616) • Significant growth in operating Interest paid (148) (481) cashflow driven by a strong Income tax paid (640) (1,893) rebound in sales, imp
Slide 11: Balance Sheet 31st January 2025
Balance Sheet 31st January 2025 rsonal use only AUD 1H 2025 1H 2024 Change ($M) • USD cash holdings, Cash 15.4 8.1 7.3 reduction in overdue accounts and lower Trade Receivables 14.1 13.1 1.0 inventory supporting the Inventories 23.8 34.0 (10.2) strong cash position Total Current Assets 53.9 56.2 (2.
Slide 12: Operational Overview
rsonal use only Operational Overview 12
Slide 13: Melody Dairies - New Zealand
DNIL 12.1% rsonal use only Clover LCorp 43.9% 32% SSheep 12% Melody Dairies - New Zealand SSheep • The new management team is delivering high-quality products with improved 12 plant utilisation and efficiency • Increased demand from Clover, in conjunction with its other major shareholder, is ensurin
Slide 14: Ecuador
rsonal use only Ecuador • Volume of crude fish oil extracted from Tuna heads is growing • Shipments commenced November 2024 Excellent yield & quality Resourcing of the facility completed Cost effective sourcing which will deliver benefits in 2H FY25 Clover Corporation | Investor Presentation M
Slide 15: DHA Growth
DHA Growth rsonal use only • Product diversification into non-allergenic, higher fortification levels and plant-based powders are allowing Clover to deliver new solutions to our customers providing revenue growth • Despite a subdued global infant formula market, we have seen a recovery of business a
Slide 16: New Products Driving Growth
New Products Driving Growth Highly concentrated oils • Sales of powdered High Omega 3 in nutraceuticals, petfood rsonal use only and Food for Special Medical Purposes continues to gain traction Gelphorm • A unique double emulsion DHA product that can pass through the UHT process and provides no sens
Slide 17: CholineXcel
CholineXcel • CholineXcel is a unique flowable powder • Clover completed further production trials in December 2024, rsonal use only manufacturing at commercial quantities • Product will be on show in May at Vita Foods Europe • Samples have been presented to selected customers • 2H continued product
Slide 18: Premneo
Premneo • Clover’s unique DHA emulsion is clinically proven rsonal use only to increase the IQ of preterm infants • Clinical review by experts is ongoing and we have received the results of a published independent clinical review 1H FY25 • Clover remains confident the conclusions of the independent
Slide 19: Strategy & Outlook
rsonal use only Strategy & Outlook 19
Slide 20: Strategic focus
Strategic focus Operations & supply chain efficiencies Innovation & business growth rsonal use only • Integration of the Ecuador facility into the • Appointment of new distributors to support our sales supply chain for strategic and gross margin team in reach and diversification of our segment and b
Slide 21: FY25 Outlook
FY25 Outlook rsonal use only The Board expects the momentum of 1H FY25 to continue with a stronger 2H assuming current forecast demand and the global conditions prevail. Clover Corporation | Investor Presentation March 2025 21
Slide 22: Q&A
rsonal use only Q&A 22