Lark Distilling Co. Ltd. · ASX:LRK
Lark Distilling — FY2025 Earnings Presentation
47 slides from Lark Distilling's earnings presentation, Aug 21, 2025
Slide 1: FY25 Investor Briefing
LARK Lark Distilling Co Ltd FY25 Investor Briefing &
Slide 2: Australia's No.1 Luxury Single Malt Whisky
Australia’s No.t Luxury Single Malt Whisky .~.
Slide 3: For personal use only
INTERNATIONAL SALES BUILD LONG TERM MOMENTUM & DOMESTIC BRAND VALUE LEADERSHIP POSITION vill b recogni and diffe y brand CASH & CAPITAL DISCIPLINE vill prioriti S ion tou growth while ng capital disci
Slide 4: FY25 Highlights
For personal use only FY25 Highlights
Slide 5: FY25 Financial Highlights
LARK FY25 Financial Highlights $15.6m! NET SALES (FY24: $14.0m) +12% vs. FY24 Whisky Net Sales +16% vs. FY24 $2.9m OPERATING CASH OUTFLOW (FY24: $4.2m) +$1.3m vs. FY24 Achieved despite planned step-up in marketing spend 1 . Net Sales = sales after excise $10.0m GROSS PROFIT (FY24: $9.5m) +6% vs. FY2
Slide 6: For personal use only
For personal use only • • • • • • • • •
Slide 7: For personal use only
For personal use only ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Slide 8: Strong FY25 delivery in a challenging market
FY25 Strong FY25 delivery in a challenging market LRK - Net Sales & Operating Cashflow - FY20 to FY25 Net Sales +12%, growth every quarter vs PCP Whisky Net Sales +16% Operating Cashflow improvement despite increased marketing spend Positive operating cashflows targeted during FY27 - post period of
Slide 9: Ultra-Premium+ Whisky volume in Australia
Ultra-Premium+ Whisky volume in Australia + Australia’s ultra-premium whisky category saw a sharp COVID-era volume spike, consistent with global spirits trends — =Pre-COVID Trend * Category volumes corrected post-2022 but —===Market Volume remain well above pre-COVID levels * Current category volume
Slide 10: International Sales Momentum & Domestic Leadership Position
For personal use only International Sales Momentum & Domestic Leadership Position
Slide 11: For personal use only
• • • • • • • For personal use only
Slide 12: Global Travel Retail
GIR provides a unique opportunity to engage with Lark's target audience, driving brand discovery and awareness. As Australia’s Number 1 Luxury Single Malt Whisky - the GTR channel is important in the seeding of LARK to both domestic and international consumers - as they discover and dwell as part of
Slide 13: Direct-to-Consumer channels
Lark’s internally managed Direct-to-Consumer (D2C) channels performed strongly in FY25, with Net Sales of $71 million, up $1 million or 18%, driven by strong results in both Lark’s E-Commerce channel, Lark Hospitality Venues and direct engagement with high-net-worth individuals (including cask sales
Slide 14: Domestic B2B and Spirits Platform transition
Change in sales model and transition to Spirits Platform (SP) for Domestic B2B sales completed on 1 August 2024. As Australia’s leading independent spirits distributor and the market leader in Ultra- Premium and above Single Malt, SP provides a strong platform for Lark’s future growth. In the first
Slide 15: Building Long Term Brand Value
For personal use only Building Long Term Brand Value
Slide 16: Cementing Lark's position: awards
LARK Australia’s No.1 Luxury Single Malt Whisky CEMENTING LARK’S POSITION WORLD WHISKY AWARDS LARK 1911 - Single Malt Whisky - Gold Medal LARK Symphony - Blended Malt Whisky - Gold Medal & Category Winner! LARK Chinotto Citrus Cask - Single Malt Whisky - Bronze Medal LARK Tasmanian Peated - Single M
Slide 17: For personal use only
• • • • • • • • For personal use only
Slide 18: For personal use only
For personal use only
Slide 19: Cash & Capital Discipline
For personal use only Cash & Capital Discipline
Slide 20: Cash position, NAB facility, capital flexibility
For personal use only Cash position NAB facility • • • • Capital flexibility • • • •
Slide 21: For personal use only
For personal use only • • • • • • • • •
Slide 22: FY25 Financial Highlights & Whisky Bank
For personal use only FY25 Financial Highlights & Whisky Bank
Slide 23: Profit & Loss Highlights
Profit & Loss Highlights • For personal use only • • • • • •
Slide 24: Balance Sheet Highlights
Balance Sheet Highlights • For personal use only • • • • • • •
Slide 25: Cashflow Highlights
Cashflow Highlights For personal use only • • • • • • • • • • • •
Slide 26: For personal use only
For personal use only • • • • • • • • •
Slide 27: Accelerating Into FY26
For personal use only Accelerating Into FY26
Slide 28: Brand Restage
For personal use only Brand Restage
Slide 29: For personal use only
For personal use only • • • • • • • •
Slide 30: People, Product, Place
For personal use only + +People Product Place
Slide 31: Pursuit of flavour and texture
Driven by the pursuit of flavour and texture - pioneering the rise of New-world whisky. Tasmania boasts a whisky making super- climate. LARK’S award-winning house style is characterised by its fortified depth, offering layers of silky complexity, with sweetness and New World fusion umami. LARK’S uni
Slide 32: Bold by Design
Bold by Design • For personal use only • • • • • • •
Slide 33: Built to Standout
Built to Standout + Vibrant colours and commanding shelf presence + Unique, proud and disruptive & new world feel + Illustrated Lark, made up of native flora with discoverable details + Inner door holds our manifesto, and invites with “Whisky from another world” 33
Slide 34: Permanent Range
LARK & Permanent Range aR K > AAR K OSS MoO SINGLE 5 TASMANIAN SINGLE MALT WHISKY =4 ——_ \ MALT WHISKY 18S 10 SS ‘ 4) NS Pe Ky 4. his Lin No. 151 - Fire Trail No. 168 - Cinder Forest No. 183 - Devil’s Storm No. 285 - Ruby Abyss (GTR Exclusive) 34
Slide 35: For personal use only
| Australia’s Nod Luxury Single Malt Whisky Fi,
Slide 36: For personal use only
Australia’s No.t Luxury TASMANIAN SINGLE & Single Malt as ; MALT WHISKY Whisky
Slide 37: Go To Market
For personal use only Go To Market
Slide 38: For personal use only
For personal use only • • • • • • • • •
Slide 39: For personal use only
For personal use only
Slide 40: For personal use only
• • • • • • • • • For personal use only
Slide 41: For personal use only
For personal use only
Slide 42: Appendix
For personal use only Appendix
Slide 43: For personal use only
For personal use only ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 44: Statutory Revenue to Net Sales Revenue summary
LARK Statutory Revenue to Net Sales Revenue summary In accordance with AASB 15 - Revenue from Contracts with Customers, statutory accounts must report both Revenue and Cost of Goods Sold (COGS) on a gross basis, inclusive of excise payments made to the ATO. These excise costs are “Coubseauently reco
Slide 45: For personal use only
• For personal use only • • • • • • • • Pre Post • Channel EBITDA Direct Overheads Brand Marketing COGS & Shipping • Distribution Margin GST/Excise/Retail Margins
Slide 46: Disclaimer
Disclaimer LARK DISTILLING CO The information contained in this presentation has been prepared by Lark Distilling Co. Limited (“LARK”). This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in LARK
Slide 47: Investor Relations contact
Approved for release by the Board of Directors. For more information contact: Lark Investor Relations Melanie Singh +61439 748 819 LARK 47