Barfresh Food Group Inc. · NASDAQ:BRFH
Barfresh Food — Investor Presentation (February 2026)
28 slides from Barfresh Food's investor presentation, February 2026
Slide 1: Investor Presentation February 2026
Investor Presentation February 2026 PREMEASURED I PREPACKAGED I PERFECTION © 2026 Barfresh Food Group Inc. All rights reserved.
Slide 2: Forward Looking Statements
Forward Looking Statements This Descriptive Presentation (the “Presentation") is being furnished solely for use by prospective parties in connection with their consideration of a potential transaction with Barfresh Food Group Inc. (the “Company”). Prospective parties are not entitled to rely on the
Slide 3: Real. Fresh. Deliciousness.
Real. Fresh. Deliciousness. • Barfresh is a leader in ready-to drink and ready-to-blend frozen beverages for high- volume operations • It’s no secret that people are more obsessed than ever with living a healthier lifestyle and feeding their bodies with fresh and simple foods • Barfresh founder, Ric
Slide 4: Barfresh company snapshot
Barfresh company snapshot Leader in Focused on Scaling Revenue, Ready-to-Blend Foodservice Streamlining Beverages Growth Production COMPANY OVERVIEW AND FINANCIAL HIGHLIGHTS COMPANY HQ FY’24 REVENUE FY’24 ADJ. EBITDA GROSS MARGINS Los Angeles, CA $10.7M ($1.3M) 30%+ +32% YoY 4
Slide 5: Transformative strategic acquisition overview
Transformative strategic acquisition overview Barfresh has completed the acquisition of Arps Dairy: A family-owned creamery located in the Midwest with an 80+ year history and meaningful revenue operating at breakeven • This acquisition provides immediate scale to Barfresh: ✓ New 44,000 sq ft manufa
Slide 6: Situation Overview and Acquisition Rationale
Situation Overview and Acquisition Rationale • Barfresh recently acquired Arps Dairy, a family-owned creamery located in the Transaction Sources Midwest with circa $ 1 5 M revenues and approximately breakeven adjusted EBITDA Minimum new investment sought $7.0 • Notably, the acquisition included a ne
Slide 7: Meaningful Synergies Identified
Meaningful Synergies Identified Tolling Charge Margin Freight Cost Reduction Recapture Consolidated operations reduce 1 Eliminates fees previously paid to third-party co-manufacturers, 2 inbound shipping and freight-to- storage costs through optimized boosting gross margin by logistics internalizing
Slide 8: New customer expansion opportunity
New customer expansion opportunity In addition to the acquisition of Arps Dairy, Barfresh has interest from multiple other large customers for production at its new facility. We plan to take advantage of our existing planned buildout of the new Arps Dairy facility, making incremental improvements to
Slide 9: Pro Forma Combined Income Statement
Income Statement Barfresh Arps Synergies Pro Forma Combined 2024A 2025F 2026F 2024A 2025F 2026F 2024A 2025F 2026F 2024A 2025F 2026F Revenue $ 11 $ 12 $ 20 $ 22 $ 16 $ 15 $ 33 $ 28 $ 35 YoY growth 32% 9% 67% 9% (27%) (6%) 16% (15%) 25% COGS1 7 8 12 20 16 14 (2) (2) (3) 25 22 23 Gross profit $ 4 $ 4 $
Slide 10: Updated Financial Guidance
Updated Financial Guidance FY 20251 2 FY 2026 Revenue: $14.2M Revenue: $30-35M Adjusted EBITDA:-$1-2M Adjusted EBITDA: $3.5-5M 1 The range presented is approximate and includes the newly acquired Arps 2 Includes Barfresh organic business as well as the newly acquired Arps Dairy for a portion of Q4.
Slide 11: New Customer Opportunities
New Customer Opportunities • Given the continued shortage of scaled, high-quality cultured dairy manufacturing capacity in the United States. Barfresh has been approached by multiple large branded customers seeking long-term production partnerships. • Barfresh is currently engaged in discussions tha
Slide 12: Market Opportunity
Market Opportunity SMOOTHIE MARKET GROWING ALMOST 2X THE RATE OF ALREADY-STRONG HEALTHY FOODS CATEGORY Global Healthy Food & Beverage Market Global Smoothie Market Sales 5% CAGR $1T 10% CAGR $26B $733M $15B 2020 2026 2023 2029 Source: Statista 2022 Marketing Data Forecast (Jan, 2024) 12
Slide 13: Product Offerings
Product Offerings Ready to Drink Ready to Blend Concentrates Ready to Eat Single Easy Pour 100% Twist & Go Pop & Go Serve Bulk Refreshers 13
Slide 14: Bottled, Ready-to-Drink Solution for Schools
Bottled, Ready-to- Drink ✓ 4 Ounces of Yogurt and ½ Cup of Solution for Schools Fruit/Fruit Juice ✓ No Preservatives ✓ No Artificial Flavors or Colors ✓ No Sugar Added ✓ 125 Calories ✓ 5 Grams of Protein Compliant with USDA reimbursable meal programs and smart snack compliant 14
Slide 15: Differentiated Single Serve Product Process
Differentiated Single Serve Product Process Operational Simplicity Ingredients • Perfect consistency • No waste, no spoilage • No artificial colors or • Real fruit every time • Reduces labor flavors • Gluten free • Makes a smoothie in • No complicated • Premium taste • Kosher certified approx. 1 min
Slide 16: Proprietary "Easy Pour" Bulk Format Solution
Proprietary “Easy Pour” Bulk Format Solution Response to Customers Requiring Rapid Speed of Service The Barfresh Process Barfresh Bulk Solution 1 2 3 1 gallon of concentrate + 1 gallon of water + = Any size finished smoothie Flexible Solution Can Fit with Customer’s Existing Equipment 16
Slide 17: 100% Juice Refreshers for Schools
100% Juice Refreshers for Schools ✓ 4g of Protein and 220g of Potassium, including Vitamin D, Calcium, Iron & Vitamin C ✓ No Preservatives ✓ No Artificial Flavors or Colors ✓ No Sugar Added ✓ Non-GMO and Gluten Free ✓ 10 Exciting Flavors Compliant with USDA reimbursable meal programs and smart snack
Slide 18: 100% Juice Freeze Pops for Schools
100% Juice Freeze Pops for Schools ✓ ½ Cup of Fruit Juice; 100% Juice ✓ No Preservatives ✓ No Artificial Flavors or Colors ✓ No Sugar Added ✓ Good Source of Vitamin C ✓ Gluten Free Compliant with USDA reimbursable meal Your healthy freeze pop! programs and smart snack compliant Nutritious and fun wa
Slide 19: Business Network: Customers, Distributors and Manufacturers
BUSINESS NETWORK: CUSTOMERS, DISTRIBUTORS and MANUFACTURERS © 2026 Barfresh Food Group Inc. All rights reserved
Slide 20: Diverse Sales Channels
Diverse Sales Channels EDUCATION MILITARY BUSINESS & INDUSTRY THIRD-PARTY NATIONAL QUICK RECREATION, OPERATORS SERVICE AMUSEMENT & RESTAURANTS TOURISM 20
Slide 21: Elementary and Secondary School Accounts
Elementary and Secondary REAL FRUIT School Accounts No Preservatives Massive market potential1 No Artificial Flavors or Colors School students in the United States 13K 131K+ No Sugar Added districts schools Non-GMO Gluten-Free Twist & Go, Pop & Go and WHIRLZ offerings dramatically increase growth op
Slide 22: Immense opportunity in education with tailwinds behind us
Immense opportunity in education with tailwinds behind us ✓ Enormous amount of runway with Twist & Go and Pop & Go offerings ✓ Emphasis of healthy options, especially in underprivileged areas • Importance of breakfast in academic performance is frequently documented • Twist & Go is the first chance
Slide 23: U.S. Armed Forces Accounts
U.S. Armed Forces Accounts • Received approval from the United States Defense Logistics Agency (DLA) to sell smoothie products into all branches of the U.S. Armed Forces • Expanded military channel locations domestically and now pouring product internationally in South Korea Completed Stringent Barf
Slide 24: High Profile targets fueled by strong distribution
High Profile targets fueled by strong distribution Targets for Barfresh’s Ready-to-Blend Products High Profile Restaurants, Colleges and Recreational Sites Strong Distribution Relationships in Place 24
Slide 25: Scalable Manufacturing Capabilities and Relationships
Scalable Manufacturing Capabilities and Relationships Flexible Operating Model Provides Opportunity to Scale Quickly Strategy Recent Updates • Utilize multiple contract manufacturers that • Recently added 3 new third-party contract provide Barfresh efficient national coverage manufacturer locations
Slide 26: Supply Chain In Place To Meet Increased Demand
Supply Chain In Place To Meet Increased Demand Alignment with major freight partner enhances Barfresh’s ability to service customers across North America • Inventory strategically located at centralized warehouse managed with major freight consolidation partner • System facilitates quicker order ful
Slide 27: Experienced management team
Experienced management team Years Executive Position Experience Select Prior Experience Riccardo Delle Coste Founder & CEO 25 Lisa Roger CFO 29 Steven Campbell Director Of 31 Operations 27
Slide 28: © 2026 Barfresh Food Group Inc. All rights reserved.
© 2026 Barfresh Food Group Inc. All rights reserved.
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