Slide 1: Fiscal Year 2027 First-Quarter Results
Fiscal Year 2027 First-Quarter Results October 6, 2026
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Neogen intends that such forward- looking statements be covered by the safe harbor prov
Slide 3: Q1 FY27 Financial Highlights
Q1 FY27 Financial Highlights Solid Core Margin Expansion $5M Revenue Growth (1) While Investing Free Cash Flow (2) in Both Segments in the Future Generation Core Revenue Growth (1) Year-over-year $18M Incremental Accelerated to ~8% in Food Adjusted EBITDA Margin (2) Free Cash Flow Safety & Animal Sa
Slide 4: Building on our Leadership in Food Safety
Building on our Leadership in Food Safety D R I V I N G T O W A R D I M P R O V E D , M O R E P R E D I C TA B L E O P E R AT I O N A L P E R F O R M A N C E Strengthening our sales & marketing engine by Commercial deploying an enhanced go-to-market strategy, a Prowess global solutions-based selling
Slide 5: Key Financial Highlights for the Quarter
Key Financial Highlights for the Quarter Adjusted Net Income(3) Revenue ($M) Adjusted EBITDA ($M) (2) ($M, excl. per share) $45.4 $225.3 $222.8 $41.6 $35.5 $18.7 $209.2 $17.5 $9.5 $0.09 $0.08 17.0% 20.2% 18.7% $0.04 Adjusted Adjusted Margin Margin Margin Adjusted EPS (3) EPS (3) (3) EPS Q1 FY26 Q4 F
Slide 6: Balance Sheet & Capital Allocation
Balance Sheet & Capital Allocation Current Debt Improving Free Cash Flow Trends (2) $26.2 $11.1 Debt $7.7 $4.7 $774M Less: Cash & Equivalents Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 $172M ($13.1) • Further improvement in trade working capital, down over 500 bps as a Net Debt (1) percentage of revenu
Slide 7: Raised Full-Year Outlook
Raised Full-Year Outlook Financial Guidance FY2027 $885M – $890M Total Revenue Previous: $880M – $885M $181M – $183M Adjusted EBITDA Previous: $180M – $182M Neogen Confidential Information © 2025 Neogen Corporation. All rights reserved. | 7
Slide 8: Quarterly Performance Summary
Quarterly Performance Summary • Fundamentals of the business showing continued signs of improvement ‒ Implementation of new commercial strategy underway globally, enhancing opportunity to drive consistent, long-term growth ‒ Operational improvement initiatives demonstrating measurable progress ‒ Inn
Slide 9: Thank you for joining us.
To view the earnings press release and Thank you for presentation, visit: WWW.NEOGEN.COM/INVESTOR-RELATIONS joining us. © 2026 Neogen Corporation. All rights reserved. | 9
Slide 10: Appendix
Appendix
Slide 11: Non-GAAP Reconciliations: Adjusted Gross Profit
Non-GAAP Reconciliations Adjusted Gross Profit © 2026 Neogen Corporation. All rights reserved. | 11
Slide 12: Non-GAAP Reconciliations: Adjusted Operating Income
Non-GAAP Reconciliations Adjusted Operating Income © 2026 Neogen Corporation. All rights reserved. | 12
Slide 13: Non-GAAP Reconciliations: Adjusted EBITDA
Non-GAAP Reconciliations Adjusted EBITDA © 2026 Neogen Corporation. All rights reserved. | 13
Slide 14: Non-GAAP Reconciliations: Adjusted Net Income
Non-GAAP Reconciliations Adjusted Net Income © 2026 Neogen Corporation. All rights reserved. | 14
Slide 15: Non-GAAP Reconciliations: Adjusted Operating Expenses
Non-GAAP Reconciliations Adjusted Operating Expenses © 2026 Neogen Corporation. All rights reserved. | 15
Slide 16: Non-GAAP Reconciliations: Core Revenue Growth and Free Cash Flow
Non-GAAP Reconciliations Core Revenue Growth and Free Cash Flow © 2026 Neogen Corporation. All rights reserved. | 16