Lark Distilling Co. Ltd. · ASX:LRK
Lark Distilling — H1 FY2026 Earnings Presentation
30 slides from Lark Distilling's earnings presentation, Feb 24, 2026
Slide 1: Lark Distilling Co Ltd 1H FY26 Presentation
Lark Distilling Co Ltd 1H FY26 Presentation 24 FEBRUARY 2026 1
Slide 2: Australia's No.1 Luxury Single Malt Whisky
Australia’s No.t Luxury Single Malt Whisky ...
Slide 3: Strategic Priorities
Strategic Priorities INTERNATIONAL SALES BUILD LONG TERM MOMENTUM & DOMESTIC BRAND VALUE LEADERSHIP POSITION LARK will build a globally Creation of repeatable and recognised and differentiated diversified (geography and luxury brand channel) revenue streams CASH & CAPITAL DISCIPLINE LARK will priori
Slide 4: 1H FY26 Highlights
1H FY26 Highlights 4
Slide 5: 1H FY26 Financial Highlights
1H FY26 Financial Highlights $8.7m 1 $ 5.1m GROSS PROFIT NET SALES (1H FY25: $5.0m) (1H FY25: $ 7.9m) GP Margin 58% +10% vs. 1H FY25 Underlying GP Margin remains Whisky Net Sales +18% vs. 1H FY25 stable at 63% 2 $2.4m $18.3m OPERATING CASH CASH POSITION OUTFLOW (30 June 2025: $23.1m) (1H FY25: $ 2.6
Slide 6: 1H FY26 Operational Execution
1H FY26 Operational Execution BUILD LONG TERM BRAND VALUE • LARK Brand Restage preparations with initial shipments commencing ahead of 2H FY26 consumer launches • Initial three core portfolio products in addition to Travel Retail exclusives • Pontville redevelopment completed delivering improved saf
Slide 7: Positive momentum in Net Sales
Positive momentum in Net Sales Quarterly Net Sales Growth • Sixth consecutive quarter of top - line growth, with 1HFY26 Net Sales revenue 30% of $ 8.7 million, up 10% vs. the prior corresponding period (pcp) 20% • Net Sales performance is particularly encouraging, set against a challenging backdrop
Slide 8: Building Long Term Brand Value
Building Long Term Brand Value 8
Slide 9: Opportunity Created by Brand Restage
Opportunity Created by Brand Restage TAPPING INTO A GLOBAL AUDIENCE • Clear positioning & branding, positioning LARK on the world stage, as a leader in New World Whisky • Three initial core products, form the foundation of the Brand restage in addition to GTR channel exclusives: 1. Fire Trail – RRP
Slide 10: Restage rollout underway
Restage rollout underway LAUNCH EVENTS AND MEDIA COVERAGE BUILDING AWARENESS FOR THE RESTAGED LARK PORTFOLIO
Slide 11: Australia's No.1 Luxury Single Malt Whisky
Australia’s No.1 Luxury Single Malt Whisky CEMENTING LARK’S POSITION CWSA LARK 1911 – Single Malt Whisky Double Gold Medal LARK Classic Cask - Single Malt Whisky Silver Medal GLOBAL SPIRITS MASTERS LARK Classic Cask - Single Malt Whisky LARK Chinotto Citrus Cask - Single Malt Whisky LARK Tasmanian P
Slide 12: International Sales Momentum & Domestic Leadership Position
International Sales Momentum & Domestic Leadership Position 12
Slide 13: Asia Export
Asia Export INTERNATIONAL SALES MOMENTUM • Direct Export Net Sales $1.3 million, an increase of $0.8 million onpcp , reflecting expanded distribution and improving depletion momentum across Asia, and shipments of new portfolio • Initial shipments delivered into 7 out of 10 Asian markets (Singapore,
Slide 14: Global Travel Retail
Global Travel Retail INTERNATIONAL SALES MOMENTUM • Global Travel Retail (GTR) Net Sales of $1.0 million, up 17% vspcp , supported by strong retailer engagement and continued momentum in brand visibility across the channel. • New GTR channel -exclusive portfoliofinalised and presented to key Austral
Slide 15: Australia - D2C
Australia - D2C DOMESTIC LEADERSHIP POSITION • Direct to Consumer (D2C) Net Sales of $4.2 million, up 17% vs pcp, driven by continued momentum in Ecommerce, which delivered $2.1 million in Sales, Net up 33%. • Ecommerce performance supported by strong gifting demand and continued optimisationof digi
Slide 16: Australia – B2B
Australia – B2B DOMESTIC LEADERSHIP POSITION • Domestic B2B Net Sales of $2.3 million, down $0.7 million 2( 4%) vs pcp , with part of the comparative period reflecting the previous direct sales model (before distributor margin impacts were reflected in reported net sales), as well as timing and one
Slide 17: Cash & Capital Discipline
Cash & Capital Discipline 17
Slide 18: Balance Sheet Strength and Capital Flexibility
Balance Sheet Strength and Capital Flexibility CASH AND CAPITAL DISCIPLINE Cash position NAB facility • Strong Balance Sheet & Cash Position to support growth ambitions to achieve strategic milestones $5M UNDRAWN CASH BALANCE COMMITTED FACILITY • Cash including Term Deposits of $18.3million OF $ 18.
Slide 19: Scalable Capacity & High-Quality Whisky Bank
Scalable Capacity & High -Quality Whisky Bank FUTURE PROOFED DISTILLING OPERATIONS & WHISKY BANK POSITIONED TO SUPPORT EXPORT AND DOMESTIC GROWTH Distillery & Production site redevelopment • Commissioning of Distillery and Blending facility now completed • Site distilling capacity at ~520kL at 43%,
Slide 20: 1HFY26 Financial Highlights
1HFY26 Financial Highlights 20
Slide 21: Profit & Loss Highlights
1HFY26 FINANCIAL RESULTS Profit & Loss Highlights H1 FY26 H1 FY25 vs LY $ vs LY % • Net Sales Revenue $8.7m, up 10% vs 1H FY25 , with Whisky Net Sales Gross Sales 9,151 8,532 619 7% +18% vs. 1H FY25. Excise (457) (651) 194 30% Net Sales 8,694 7,881 813 10% • Net Sales growth rate higher than Gross S
Slide 22: Balance Sheet Highlights
1H FY26 FINANCIAL RESULTS Balance Sheet Highlights A$'000 Dec-25 Jun-25 vs LY $ • Trade receivables increase driven by growth in export sales and a $0.3 million Cash and cash equivalents 18,300 23,107 (4,807) increase in other receivables relating to R&D income. Trade and other receivables 1,132 628
Slide 23: Cashflow Highlights
1HFY26 FINANCIAL RESULTS Cashflow Highlights A$'000 H1 FY26 H1 FY25 vs LY $ • Focus on cash and capital discipline continues across the business, with Cash flows from operating activities operating cash outflows improving by $0.3 million. Receipts from customers 9,659 8,488 1,171 Payments to supplie
Slide 24: FY26 Growth Priorities
FY26 Growth Priorities 24
Slide 25: 2H FY26 Perspectives
2H FY26 Perspectives BUILD LONG TERM BRAND VALUE • Consumer and trade launches of the new portfolio across all channels in 2H FY26, with export launches from January, Domestic Australia launch from March and GTR from May • Marketing investment to remain elevated, with increased weighting toward cons
Slide 26: Appendix
Appendix 26
Slide 27: Foundations Laid in FY23 – FY25
Foundations Laid in FY23 – FY25 INTERNATIONAL SALES MOMENTUM BUILD LONG TERM CASH & CAPITAL & DOMESTIC OTHER INITIATIVES BRAND VALUE DISCIPLINE LEADERSHIP POSITION ✓ LARK Brand restage complete; ✓ Asia go - to- market strategy developed ✓ Successful capital raise - funds secured ✓ Experienced leader
Slide 28: Strong Progress against KPI's / Milestones
OUR GROWTH PLAN Strong Progress against KPI's / Milestones PRIORITY DESCRIPTION KPI TIMING PROGRESS LARK will build a globally ▪ LARK Single Malt Restage ▪ Lark Brand restage complete, shipments commenced in 1HFY26, recognized and Complete (architecture, format etc) with consumer and trade launches
Slide 29: Disclaimer
Disclaimer LARK DISTILLING CO The information contained in this presentation has been prepared by Lark Distilling Co. Limited (“LARK”). This presentation i s n ot an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in LA
Slide 30: Approved for release by the Board of Directors
Approved for release by the Board of Directors. For more information contact: Lark Investor Relations Melanie Singh +61 439 748 819 investors@larkdistilling.com 30