Slide 1: Acquisition of VITHIT
Acquisition of VITHIT Earnings enhancing acquisition of a high- quality brand in an attractive category with a complementary asset light model 1
Slide 2: Acquisition Highlights
ACQUISITION HIGHLIGHTS 1 2 033 VITHIT is a Total cash Strong strategic market-leading consideration of fit with a functional soft €75m (c.£64m) complementary drinks brand on a debt-free, asset-light model cash-free basis 4 5 6 Immediately Clear organic Acquisition will earnings growth enhance attrac
Slide 3: What we told you at the interim results
WHAT WE TOLD YOU AT THE INTERIM RESULTS MACRO CONSUMER TRENDS ACQUISITION HUNTING GROUNDS NEXT GENERATION HEALTH & WELLBEING EVENING ENERGY Health seen as a lifestyle and no longer aspirational but integral Consumers looking for elevated experiences – experimentation and quality Consumers seeking ou
Slide 4: The UK soft drinks sector is forecast to grow by £2.2 billion by 2030
THE UK SOFT DRINKS SECTOR IS FORECAST TO THIRST FOR NEW GROW BY £2.2 BILLION BY 2030 CAGR% WHITE WHITE SPACE SPACE 4 4 Base Data: Nichols Demand Spaces Nov 2024: Kantar Worldpanel and Nichols Growth Platform Update May 2025: ForgeMSQ
Slide 5: About VITHIT
ABOUT VITHIT A differentiated, proven and highly scalable functional drinks brand • Operating across 3 core categories • Still drinks / PET • Sparkling / Cans • Effervescent powders • 100% Recommended Daily Allowance of 8 essential vitamins • Low sugar, low calorie, great taste • Asset light busines
Slide 6: VITHIT Product Portfolio
VITHIT PRODUCT PORTFOLIO 500ml PET bottles 500ml bottle 4-packs 330ml can sparkling Effervescent hydration sachets 6
Slide 7: VITHIT - The perfect strategic fit
VITHIT - THE PERFECT STRATEGIC FIT Full ACCELERATE alignment GROWTH IN OUR to Nichols’ PACKAGED growth strategy BUSINESS PORTFOLIO OPERATING MODEL CAPABILITY FIT • Expands presence in fast- growing health & wellness Asset-light • • Nichols distribution strength category Outsourced manufacturing • •
Slide 8: Strong scaled business with significant growth potential
STRONG SCALED BUSINESS WITH SIGNIFICANT GROWTH POTENTIAL ACCELERATE UK MARKET GROWTH IN OUR PACKAGED STRONG IRISH 13 INTERNATIONAL BUSINESS INNOVATION BRAND PRESENCE POSITION PIPELINE INVESTMENT MARKETS How Nichols can accelerate VITHIT’s growth LEVERAGE NICHOLS PROTECT & GROW ACCELERATE PROVEN GO-T
Slide 9: Financials
Financials WE MAKE LIFE BETTER
Slide 10: Financial Overview
FINANCIAL OVERVIEW A profitable business with attractive growth ACCELERATE GROWTH IN OUR PACKAGED BUSINESS and cash generation • Revenue €26.5m, +9.5% 3-year CAGR • Adjusted Operating Profit c.€4.2m • Strong Operating profit margin 15.8% • Asset-light model • c.20% effective tax rate • Strong cash c
Slide 11: Synergies and Value Creation
SYNERGIES AND VALUE CREATION Multiple ACCELERATE identified GROWTH levers IN OUR to accelerate PACKAGED earnings growth BUSINESS Revenue synergies • UK distribution expansion • Greater promotional effectiveness • International growth • NPD acceleration Cost synergies expected to be more than €1 mill
Slide 12: Attractive and Disciplined Financial Returns
ATTRACTIVE AND DISCIPLINED FINANCIAL RETURNS ImmediateGROWTH ACCELERATE earnings INenhancement OUR PACKAGEDand strong long-term returns BUSINESS • Fully aligned to M&A criteria • Immediately earnings enhancing • Positive contribution to EPS • Supports long-term DPS growth • Attractive NPV 12 12
Slide 13: The Group is financially strong with 1.5x dividend cover maintained
THE GROUP IS FINANCIALLY STRONG WITH 1.5x DIVIDEND COVER MAINTAINED Clear and robust integration plan underpinned by a comparable ACCELERATE GROWTH IN OUR PACKAGED BUSINESS asset-light business model Financing: • Cash funded • New RCF facility for working capital only • Strong liquidity maintained •
Slide 14: Summary
Summary WE MAKE LIFE BETTER
Slide 15: Accelerating Nichols' Growth
ACCELERATING NICHOLS’ GROWTH VITHIT accelerates ACCELERATE GROWTH INNichols’ long-term OUR PACKAGED evolution into a broader BUSINESS packaged portfolio of growth brands • Leading functional drinks brand • Exposure to attractive health & wellness category • Highly complementary to Nichols • Immediat
Slide 16: Summary
SUMMARY Acquisition of VITHIT supports further progress against strategic ambitions o Delivery of H1 2026 financials o Accelerated growth delivered in Africa o Strong innovation launches planned in H2 including Myprotein Protein Water o Acquisition of VITHIT in fast-growing health & wellness categor