Neogen Corporation · NASDAQ:NEOG
Neogen — 44th Annual J.P. Morgan Healthcare Conference (January 2026)
16 slides from Neogen's conference presentation, Jan 14, 2026
Slide 1: Unlocking Neogen’s Potential
Unlocking Neogen’s Potential J.P. Morgan Healthcare Conference January 14, 2026 © 2026 Neogen Corporation. All rights reserved. | 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Neogen’s curr
Slide 3: Our Purpose and Our Vision
Our Purpose In the business of food and animal safety, the challenges are constant, the stakes are high, We’re fueling a brighter future for global and expectations are only growing. food security. Around the world, producers, processors and partners are navigating an increasingly complex Our Vision
Slide 4: Attractive End Markets ~$11B
Attractive End Markets ~$11B The Opportunity for Growth is Global… …With Room for Neogen Expansion Worldwide Estimated Addressable Market(1) 6-7% Market CAGR(1) $7B EMEA $1.8B 4% CAGR USAC USAC 6% CAGR $1.6B USAC APAC 7% CAGR USAC USAC EMEA EMEA $0.9B EMEA EMEA APAC LATAM APAC APAC APAC 7% CAGR LATA
Slide 5: Global Leadership Across Two Primary Business Units
Global Leadership Across Two Primary Business Units Food Safety Animal Safety We offer food safety solutions that reach nearly We support animal wellbeing in animal protein, Category all segments of the food, beverage, and feed animal performance and companion animal industries segments Addressable
Slide 6: Comprehensive, High-Growth Portfolio of Global Consumables
Comprehensive, High-Growth Portfolio of Global Consumables Indicator Testing & Sample Allergen Testing Veterinary Instruments, Handling Animal Care Petrifilm® +10-12% market CAGR globally $2.9B Market | 6-8% CAGR $0.3B Market | 4% CAGR $4.9B Market | 6-7% CAGR Bacterial & General Sanitation Natural
Slide 7: Petrifilm® Sets the Standard for Modern Food Safety Testing
Petrifilm® Sets the Standard for Modern Food Safety Testing Moving from Detection to Decision Holistic Monitoring of Environment and Product, with Confidence Simplified by Petrifilm’s 3-Step Process 1 INOCULATE 2 INCUBATE 3 *Results compared to traditional agar plates. ENUMERATE © 2026 Neogen Corpor
Slide 8: A Holistic Food Safety Solution; Not Just a Product Portfolio
A Holistic Food Safety Solution; Not Just a Product Portfolio Neogen is the Only Provider Offering a Comprehensive, End-to-End Food Safety Solution • Products that Work as a System • Expert Guidance that Drives Better Decisions • EM Handbook • Industry-Defining Standards • EM Assessment and Expert S
Slide 9: Clear Headroom to Best-in-Class Performance
Clear Headroom to Best-in-Class Performance Peer benchmarks across growth, margin, and maturity highlight meaningful upside as we aim to return to and exceed legacy growth/profitability Mid/High-Single-Digit Mid/High-20’s Sustained Adj EBITDA % Core Revenue Growth % 20-30% 4-8% Prior Prior NEOG NEOG
Slide 10: Executive Leadership Changes to Rapidly Transform Neogen
Executive Leadership Changes to Rapidly Transform Neogen Mike Nassif President & CEO Advanced Business Structure • Operating model redesigned for speed, accountability, and scale • Strategy embedded into operating cadence, not episodic planning Bryan Riggsbee Dr. Jeremy Yarwood Joe Freels Dr. Tammi
Slide 11: Restoring Consistent Growth with 3-Phase Plan
Restoring Consistent Growth with 3-Phase Plan H1 FY26 H2 FY26 FY27 FY28+ Driving Growth, Enhancing Collaboration and Leading in Innovation 1 Stabilize Improving Commercial Execution 2 Accelerate by Focusing on the Basics Process Maturity Driving COGS Reduction & Execution Reliability 3 Expand
Slide 12: Petrifilm® Manufacturing on Track to Key Milestones
Petrifilm® Manufacturing on Track to Key Milestones Key Activities FY23 FY24 H1 FY25 H2 FY25 H1 FY26 H2 FY26 H1 FY27 H2 FY27 H1 FY28 Risk Controls Site Prep & complete Dedicated Construction Governance Team Technical and Start complete up Staffing Redundant Equipment Install & Processing Transfers (
Slide 13: The Vision for Neogen’s Innovation Engine
The Vision for Neogen’s Innovation Engine We’re Building for the Future Our Current Portfolio is • Built on validated, real-world scientific performance PREDICTIVE & FASTER, SIMPLER, INDUSTRY- PREVENTATIVE MORE EFFICIENT DEFINING • Resilient for today with optionality for the future Continue shift A
Slide 14: A Clear Plan, Early Proof, and a Path to Best in Class
A Clear Plan, Early Proof, and a Path to Best In Class • Targeting mid-single digit core revenue growth in (1) Improving cash flow the mid-term with market + in long term with predictable, stable • Driving 10-15% of organic sales through new performance, anchored on operational product introduction
Slide 15: Recently Raised Full-Year Outlook
Recently Raised Full-Year Outlook Updated FY2026 Outlook $845M-$855M Total Revenue Previous: $820M-$840M ~$175M Adjusted EBITDA Previous: $165M-$175M ~$50M Capital Expenditures Previous: ~$50M • Free Cash Flow positive • Effective tax rate of 21% © 2026 Neogen Corporation. All rights reserved. | 15
Slide 16: Thank you.
Thank you. © 2026 Neogen Corporation. All rights reserved. | 16
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