Slide 1: Tristel PLC 2025 Audited Results - Investor Presentation
TRISTEL PLC 2025 AUDITED RESULTS - INVESTOR PRESENTATION Matt Sassone, CEO Anna Wasyl, CFO October 2025 tristelgroup.com 1
Slide 2: New CFO
New CFO • Joined 1st September 2025 • 20 years of experience across publicly listed and venture-backed companies • Previous roles: o Chief Commercial Partnerships and Operations Officer and Group CFO at CMR Surgical (“CMR”), the Cambridge-based global surgical robotics business Anna Wasyl Anna bring
Slide 3: Our Company
Our Company We are a global infection prevention company. The entire purpose of our business is to prevent the transmission of microbes from one object or person to another. We achieve our mission by applying a very powerful biocidal chemistry – chlorine dioxide – to the target environmental surface
Slide 4: FY24-25 Financial Highlights
FY24-25 Financial Highlights 11% growth in turnover to a record level of £46.5m (2024: £41.9m) We are an infection prevention * profit before tax up 23% to £10.1m AdjustedThe Reported profit before tax up 18% company. entire purpose of our business is (2024: £8.2m) the to prevent to £8.4m (2024: £7.
Slide 5: Operational Highlights
Operational Highlights FDA clearance of Tristel OPH, a high-level disinfectant (HLD) foam for use on ophthalmic medical devices Successful insourcing of Trio Wipes Manufacturing, with net annual savings of £0.8m Updated USA standards recognising chlorine dioxide foam as a recommended means of HLD fo
Slide 6: The Market Opportunity
The Market Opportunity tristelgroup.com 6
Slide 7: Global Market Opportunity
Global Market Opportunity Tristel has penetrated only a fraction of its total addressable market. Serviceable Obtainable Market is the portion of the market that we can realistically capture, given the market landscape, our current resources and geographic presence. Medical Device Disinfection Surfa
Slide 8: Market Opportunity by Specialty
Market Opportunity by Specialty Ultrasound ENT Ophthalmology Surfaces Invasive and non-invasive Single and non-lumened Reusable devices such as Surfaces and equipment in ultrasound devices. flexible endoscopes. tonometer prisms and high-risk healthcare settings. diagnostic lenses. 200 million proced
Slide 9: Global Market Trends
Global Market Trends 1. Continuous expansion of devices 5. Growing awareness on the being used during percutaneous negative impact of biofilms procedures, requiring HLD 6. Constant threat of antimicrobial 2. Increased utilisation of ultrasound resistance and the resultant high at the point of care c
Slide 10: Our Products
Our Products tristelgroup.com 10
Slide 11: The Power of Chlorine Dioxide
The Power of Chlorine Dioxide Multiple An oxidising Broad Unlike chlorine, Per molecule is Due to molecular Tristel chlorine effective substance with spectrum does not 263% more size and gaseous dioxide is rapid modes of an unstable efficacy readily form reactive than nature in solution acting with
Slide 12: Our Product Portfolios
Our Product Portfolios 8% High Level Disinfection of Hospital surface & equipment medical devices disinfection Ambition: Ambition: Global market Global market leader in leader in point of care sporicidal decontamination disinfection for of medical critical healthcare devices settings £1b 87% £5b 8%
Slide 13: The Impact of Our Products
The Impact of Our Products Medical Device Medical Surface How we win: Disinfection How we win: Disinfection Convenience Compatibility Efficacy Faster Disinfection at point Approved to be used Broader spectrum & Speed of action vs of procedure with ‘000s of devices sporicidal abilities typical method
Slide 14: Our Hospital Map
Our Hospital Map Tristel products are well recognised across the entire hospital, in a wide variety of clinical settings, for both medical device decontamination and surface disinfection. 50+ hospital departments 70+ medical device types Millions of patient procedures tristelgroup.com 14
Slide 15: Why Tristel
Why Tristel Trends are in The right Intelligent Ready for Present in the Uniquely our favour chemistry delivery microbial right hospital positioned systems challenges spaces global player tristelgroup.com 15
Slide 16: Progress So Far
Progress So Far tristelgroup.com 16
Slide 17: Sales Growth by Geography
Sales Growth by Geography Period Highlights 2024-25 2023-24 Geography on period % change £m £m Strong growth coming change • from MENA, Italy, Spain Europe, Middle East 20.88 17.90 2.96 17% and Africa and Germany. APAC 7.91 7.49 0.43 6% • On a CC basis France Americas 0.26 0.13 0.13 100% returned to
Slide 18: Sales Growth by Portfolio
Sales Growth by Portfolio 45 40 Highlights 35 • Tristel Medical Device Decontamination 30 products sale grew by 11% YOY while Cache 25 Surface Disinfection products grew by 9% £m 20 • Cache success in UK & Europe offset 15 by declines in Asia 10 • The highest rates of growth for both portfolios 5 ca
Slide 19: Customer Success
Customer Success Surfaces Portfolio Sporicidal Wipe Stella System DUO ULT “I've got nothing but praises "Today, it seems that almost "The Stella system quickly "Tristel Duo ULT and Tristel for the service and support all the clinics and hospitals in emerged as the most Clean can be used as close we
Slide 20: Tristel vs Competition
Tristel vs Competition Early findings from existing markets are now confirmed in the US Customer experience with Customer experience following disinfection machines Tristel product introduction • Inefficient workflow due to transportation • Significant cost reduction of the probes, machine warm up c
Slide 21: Insourcing of Trio Wipes Manufacturing
Insourcing of Trio Wipes Manufacturing Reducing risk while increasing profitability Traditionally Trio wipes were single sourced from FMP posing a business continuity risk, inflating material and freight costs and increasing QMS complexity. £750K invested in 2 Enflex sachet machines and barcode / tr
Slide 22: Future Opportunities
Future Opportunities tristelgroup.com 22
Slide 23: Executing on the Opportunity
Executing on the Opportunity Geographical Refined Surface Expanding Product Digital Expansion Disinfection Clinical Reach Portfolio Leadership Strategy and Influence Expansion tristelgroup.com 23
Slide 24: US Opportunity
US Opportunity OPHTHALMOLOGY ULTRASOUND • 16 million procedures p.a. • 50 million procedures p.a. • $2 end user price • $3 end user price • Tristel direct sales team for select customers • Royalty Model with Parker Labs • Rest of the market served by specialist distributors • Parker have invested si
Slide 25: US ULT Procedures
US ULT Procedures • 300,000 procedures in FY25, 150,000 Procedures by quarter in Q1 FY26 160,000 140,000 • Gradually increasing penetration in the 362 active accounts with 70% engaging with 3T 120,000 training and traceability 100,000 80,000 • Healthy mix of smaller clinics with quicker 60,000 decis
Slide 26: US OPH Progress
US OPH Progress • 15 Hospital systems ordered and received product in 2 months since launch • Further 60 sites in evaluation and 88 actively engaging • Multi center case study initiated to create best practice recommendations for reprocessing • Working with all major equipment manufacturers to updat
Slide 27: Refined Surface Disinfection Strategy
Refined Surface Disinfection Strategy • The global surface disinfection market exceeds $5bn but is highly Higher Margin commoditised with margin pressure. Critical circa Healthcare 60% • 20–30% of spend occurs in critical Setting care settings (e.g. OR, NICU, Dialysis, Oncology) where efficacy Lower
Slide 28: Expanding Clinical Reach and Influence
Expanding Clinical Reach and Influence Clinical guidelines directly influence purchasing decisions and institutional protocols. Our focused effort to embed chlorine dioxide into global guidance will accelerate adoption, build competitive advantage, and unlock significant revenue growth. 126 clinical
Slide 29: Product Portfolio Expansion
Product Portfolio Expansion • Cleaning is a crucial initial step in high-level disinfection, essential for removing organic material and reducing the microbial load before disinfection can be effective. • This is a manual step that must be performed every time. • VisiClean is the only visibly verifi
Slide 30: Digital Leadership
Digital Leadership Compliance Tools Advancing Digital Platforms • 3T currently offers interactive product training and full • 3T is evolving to a multi-tier SaaS model, where a free tier digital traceability for medical device reprocessing remains - offering all global customers access to training a
Slide 31: Financial Outlook
Financial Outlook tristelgroup.com 31
Slide 32: Growth Scenarios
Growth Scenarios 100 CAGR 17% 90 Opportunities for more 80 CAGR 10% aggressive growth 70 coming from: 60 50 11.7% CAGR • US market expansion £m 40 • New product launches 30 • Software 20 commercialization 10 - • Inorganic opportunities 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
Slide 33: US Projection – Illustrating Go-To-Market Model
US Projection – Illustrating Go-To-Market Model Sales projections reaching 4% share of ULT and 8% of OPH procedures by 2030 10,000 • Tristel’s business model for ULT sales 9,000 in the US is royalty based allowing for 8,000 contributions at 100% gross margin 7,000 6,000 • The model for OPH sales is
Slide 34: Our 2025–2030 Financial Commitments
Our 2025–2030 Financial Commitments Metric Target Timeframe Revenue Growth Double Digit Annually FY25–FY30 EBITDA* Margin ≥25% Annually Every Year Dividend Policy Progressive YoY Growth Ongoing * Excluding Share Based Payments tristelgroup.com 34
Slide 35: Summary & Outlook
Summary & Outlook Acceleration of US market penetration building on success milestones achieved Broadening clinical influence to embed HLD as the standard of care New revenue streams from portfolio expansion Fundamentals of profitable, cash generating growth and progressive dividends remain in place
Slide 36: Questions
Questions tristelgroup.com 36
Slide 37: Appendix
Appendix tristelgroup.com 37
Slide 38: Appendix – Income Statement
APPENDIX – INCOME STATEMENT Year ended Year ended 30.06.25 30.06.24 £’000 £’000 Turnover 46,462 41,933 Cost of sales (9,003) (8,355) Gross profit 37,459 33,578 Gross margin % 81% 80% Administrative and distribution expenses less other operating income (24,945) (23,115) Net interest 19 100 Operating
Slide 39: Appendix – Balance Sheet
APPENDIX – BALANCE SHEET 30.06.25 30.06.24 Non-current assets £’000 £’000 Goodwill 4,971 4,997 Intangible assets 5,016 4,885 Property, plant and equipment 3,431 3,364 Right of use assets 5,553 5,538 Deferred tax 187 613 19,158 19,397 Current assets Inventories 4,642 4,681 Trade and other receivables
Slide 40: Appendix – Balance Sheet …Continued
APPENDIX – BALANCE SHEET …Continued 30.06.25 30.06.24 Capital and reserves £’000 £’000 Share capital 478 476 Share premium account 15,310 14,933 Merger reserve 2,205 2,205 Foreign exchange reserve (798) (647) Retained earnings 15,796 15,443 Total equity 32,991 32,410 Current liabilities Trade and ot
Slide 41: Appendix – Cash Flow Statement
APPENDIX NDIX––CASH CASHFLOW FLOWSTATEMENT STATEMENT Year ended Year ended 30.06.25 30.06.24 £’000 £’000 Profit before tax 8,416 7,082 Add back non-cash items 3,286 3,754 Working capital movements (163) 115 Interest received 19 100 Purchase of tangible fixed assets (857) (1,138) Purchase of intangib
Slide 42: Year Sales Growth Record
10 Year Sales Growth Record 50,000 45,000 10-year 40,000 35,000 CAGR: 11.7% Revenue £’000 30,000 • H1 FY25 YOY growth 8%* • H2 FY25 YOY growth 13%* 25,000 * 9% and 15% on a constant currency basis respectively 20,000 15,000 Sources of £4.6m 10,000 year on year growth: 5,000 • £3.8m volume • £0.8m pr
Slide 43: Year EBITDA Record
10 Year EBITDA* Record 12,000 35% 30% 10,000 25% 8,000 EBITDA* £’000s 20% EBITDA* % 6,000 15% 4,000 10% 2,000 5% - 0% FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 * Excluding Share Based Payments tristelgroup.com 43
Slide 44: Progressive Year on Year Dividend
Progressive Year on Year Dividend 16 14 Dividend Payment per share in pence 12 10 8 6 4 2 0 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Standard Special tristelgroup.com 44
Slide 45: Geographical Expansion
Geographical Expansion Today: • 19 subsidiaries with 267 employees globally • 42 distributors serving a further 40 countries Head Office Subsidiaries Partners tristelgroup.com 45
Slide 46: Our People
Our People • 267 Employees Globally 163 • 48.69% In Sales, Marketing 3 XXX 55 23 & Distribution Roles • 4.7% YOY Workforce Growth • 49% F / 51% M Gender Split • 5.56 Years Average Tenure 23 • 88.24% Overall Retention Rate (over past 12 months) tristelgroup.com 46
Slide 47: ESG Strategy - Doing the Right Thing, the Right Way
ESG Strategy - Doing the Right Thing, the Right Way Pillar 1: Creating safe, effective products is core to our business. We’re committed to developing sustainable solutions and reducing waste 1 Pushing the through thoughtful design. • Innovation • Waste management and a circular economy boundaries o
Slide 48: Sustainability – FY25 Key Success Areas
Sustainability – FY25 Key Success Areas Net Zero & Social Value: Sustainable Solutions • MSCI ESG Ratings – AAA • Aligned with UN SDGs • SBTi 1.5°C Targets Approved • UK Living Wage Employer • Carbon Reduction Plan Development • 44% Females in STEM Roles • Product Carbon Footprint (PCF) • Modern Sla
Slide 49: Customer Success USA
Customer Success USA “I can confidently “Tristel ULT is faster “Purchasing Tristel ULT "Tristel has been a recommend Tristel ULT. and easier to use than has been a lifesaver! game changer for our both Cidex and Trophon, sonographers, providing The product is just as We run a super busy with a cost p