Bubs Australia Ltd. · ASX:BUB
Bubs Australia — Investor Day (March 2026)
51 slides from Bubs Australia's investor day presentation, Mar 26, 2026
Slide 1: Bubs Strategy Update Day 2026 ASX announcement
Bubs Australia Limited ACN 060 094 742 23-29 Nina Link, Dandenong South VIC 3175 Australia 1800 2827 2878 (1800 BUBS AUST) info@bubsaustralia.com Bubs Strategy Update Day 2026 26 March, Melbourne: Bubs Australia Limited (ASX: BUB) (“Bubs” or “the Company”) is hosting a Strategy Update Day in Melbour
Slide 2: Bubs Australia Limited Strategy Update
For personal use only Bubs Australia Limited Strategy Update Thursday, 26 March 2026
Slide 3: Disclaimer
This presentation is in summary form and is not necessarily complete. It should be read together with the Company’s other announcements lodged with the Australian Securities Exchange. This presentation contains information that is based on projected and/or estimated expectations, For personal use
Slide 4: Chair Introduction
For personal use only Chair Introduction Paul Jensen Chair
Slide 5: Acknowledgement of Country
Acknowledgement of Country For personal use only Bubs acknowledges the Traditional Custodians of the Lands on which we operate. We pay our respects to Elders past and present. Image: Bunurong Marine National Park of Victoria
Slide 6: What to expect today
What to expect today For personal use only Demonstrate our unique value proposition and provide a 01 deeper understanding of our business 02 Introduce the experienced Bubs Executive Leadership Team Share how we will create shareholder value by driving 03 profitable growth through leveraging scale an
Slide 7: Executive leadership team introduction
Executive leadership team introduction Business Leadership Functional Leadership For personal use only Joe Coote Jasmin Manner Naomi Verloop Richard Paine Chief Executive Officer President - US Chief Financial Officer Chief Operating Officer Jackie Lin Chris Lotsaris Kathryn O’Hehir Annie Chen GM -
Slide 8: Agenda
Agenda For personal use only 1 2 3 4 Welcome Strategic overview Brand and Consumer USA Page 5 Page 12 Page 16 Page 22 09.30 09.35 09.50 10.05 5 6 7 8 China Australia and ROW Break Supply Chain Transformation Page 27 Page 30 10.55 Page 34 Page 38 10.25 10.40 11.15 11.30 9 10 11 12 Finance Strategy re
Slide 9: A globally trusted, premium infant nutrition business
A globally trusted, premium infant nutrition business with strong growth and healthy margins For personal use only Infant milk Toddler Adult Portfolio formula milk formula Caprilac USA China Australia Rest of World Markets Revenue $53.1M Revenue $21.1M Revenue $19.8M Revenue $8.5M Revenue FY25 52% o
Slide 10: Our Purpose and Our Mission
For personal use only Our Purpose Our Mission To provide clean nutrition To make naturally gentle, products that offer peace clean nutrition the first choice of mind for parents and for modern parents – lifelong wellbeing for recognisably Australian, bubs. trusted globally.
Slide 11: Proven platform now focused on strategic growth
We have established a proven platform and are now focused on strategic growth For personal use only Start up to IPO Volatile expansion Platform reset Strategic Growth Revenue Guidance $18m $47m $47m $104m $60m $80m $103m $120-125m 2006 2013 2017 2018 2019 2021 2022 2023 2024 2025 2026 Founded to Lau
Slide 12: Responding to an inflection point
Responding to an inflection point – we have reviewed our options and aligned our strategy to current context and market dynamics For personal use only Current Context Market Dynamics Macro demographic forces • Distinctive brand equity in the premium segment • Mass market impacted by declining birth
Slide 13: Our 5-year growth strategy
Our 5-year growth strategy strengthens our core business, then expands into new markets and innovations to drive profitable growth Strategic pillars For personal use only Activate Brand and Consumer Build a Winning Portfolio Connect Farm to Formula Enablers Performance culture Business Innovation St
Slide 14: Strategy aligned with shifting market dynamics
Our strategy aligns with shifting market dynamics, translating into clear, actionable initiatives For personal use only Activate Brand and Consumer Build a Winning Portfolio Connect Farm to Formula Enablers • Evolve brand to “Naturally gentle -- • Profitable growth across Strategic • Operational exc
Slide 15: Our investment proposition
Our investment proposition is underpinned by a proven, scalable platform delivering strong margins and geographic resilience For personal use only Attractive category with high barriers to entry Financial momentum • Structural barriers to entry driven by regulatory complexity, quality • 4-year reven
Slide 16: Securing higher market share in existing markets
We will secure higher market share in existing markets through consumer acquisitions, and lifetime value extensions For personal use only (AUS, USA, China) $90b+ Infant Infant Toddler Adult Formula Supplements Nutrition Nutrition Snacks TAM1 Core entry Basket expansion Lifecycle extension Adjacent b
Slide 17: Brand and Consumer
For personal use only Brand and Consumer Annie Chen Chief Marketing Officer
Slide 18: Global brand presence in the premium natural segment
We have established a global brand presence in the premium natural segment, which continues to drive high margin growth For personal use only THE TAILWIND THE UNMET NEED OUR ANSWER THE PROOF Fewer births, Trust, transparency, Intentionally built Validation across higher stakes per child and digestiv
Slide 19: Marketing flywheel to accelerate sales momentum
Our sales momentum will accelerate as our marketing flywheel progressively compounds – each turn lowers acquisition cost and raises brand awareness For personal use only 4 1 Optimize & scale Target & reach Dynamic budget Reach and engage Zillennial parents through 1P data, lookalike modeling 3 2 Mea
Slide 20: Brand trust is a key growth driver
Brand trust is a key growth driver For personal use only Real parent experiences are fueling loyalty, advocacy, and repeat purchase globally Ajay M. Fun Little Game Recommended for sensitive tummy’s Bub loves it I’ve had such a wonderful experience with Bubs Baby Infant Love this formula. My Bub has
Slide 21: Parents choose differently by market
Parents choose differently by market, we’re building our brand to meet them where they are For personal use only USA Australia China Role of Bubs Trusted partner for the full feeding journey, from infancy and beyond. Brand Positioning The premium formula for parents who put gentle digestion first. P
Slide 22: Market update
For personal use only market Update by
Slide 23: USA
For personal use only USA Jasmin Manner President
Slide 24: USA premium segment is highly attractive
The premium segment is highly attractive, with strong growth, margins and economic resilience USA IMF Market Market opportunity For personal use only AUD $7.3b1 Growth 3.0%1 1.3%1 Consumer demand Premiumisation is fueled by digestibility benefits, demand for clean-label ingredients, and strong pedia
Slide 25: Scaling distribution while strengthening premium positioning
We are scaling distribution while strengthening premium brand positioning Opportunity: expand distribution across Improve in-store Opportunity: drive further upside Expand within existing broader portfolio through increased facings and accounts productivity incremental displays For personal use only
Slide 26: Data and modelling to optimise marketing ROI
We use data and modelling to focus marketing investment and optimise ROI For personal use only Digital and Social Platforms Meta Meta MMM ENGINE Google TikTok Marketing mix model Retail Media Amazon DS True channel ROI and contribution Walmart Connect Optimal budget allocation Target Roundel Market
Slide 27: USA strategic priorities
Our strategic priorities centre around accelerating our position within the premium natural segment For personal use only Ambition Top-3 premium natural IMF and top-2 goat IMF in the USA Expand accessibility Accelerate brand Drive Innovation and Broaden omnichannel and shelf presence awareness and s
Slide 28: China
For personal use only China Jackie Lin General Manager Presented by Annie Chen
Slide 29: China remains the world's largest market
China remains the world’s largest market, with growth concentrated in the premium segment China IMF Market Market opportunity For personal use only Despite declining birth rates, China remains the world’s AUD $5.4b1 CAGR 13.5% YoY1 Large market largest infant formula market with strong English label
Slide 30: China growth playbook
We are executing a growth playbook – expanding distribution, extending our product portfolio and increasing investment in lower tier cities For personal use only 1 2 3 Expanding into general trade Extending beyond infant formula into Targeted social media and offline (including China label SAMR) wit
Slide 31: Australia and Rest of World
For personal use only Australia and Rest of World Chris Lotsaris General Manager
Slide 32: Australian growth driven by premium segments
Growth in the Australian infant formula market is driven by the premium segments of goat, organic and specialty Australian IMF Market1 Market opportunity For personal use only Category value growth in Australia is driven by premium AUD $417m CAGR 3.3% 5.1% #1 goat Consumers seeking value segments, d
Slide 33: Building market share in Australia
We are building market share through premium positioning, recruitment and execution excellence For personal use only 1 2 3 Drive trial and early adoption to Increase premium mix through Improve in-store and e-commerce increase household penetration in positioning, product, and execution to drive vel
Slide 34: Expansion across core and new markets
We are targeting expansion across core and new market opportunities Category value Growth Characteristic For personal use only Vietnam AUD$1.6b1 CAGR 7.3%2 High category Market size participation Canada AUD$700m3 CAGR 14%3 High import dependency Market size Mexico AUD$1.1b4 Premium segment High cate
Slide 35: Break
Break for 20 minutes For personal use only for happy families today and tomorrow
Slide 36: Supply Chain
For personal use only Supply Chain Richard Paine Chief Operating Officer
Slide 37: Highest standards of quality, availability and resilience
The infant nutrition category demands the highest standards of quality, availability and resilience For personal use only Supply chain Distribution Ingredient sourcing Core areas of focus: Milk Collection Spray Blending Canning Distribution Consumers Safety and Quality Drying High quality, sustainab
Slide 38: Scalable, resilient supply chain to support expansion
We are building a scalable, resilient supply chain to support our expansion For personal use only Operational Excellence Capacity Expansion Partnerships Technology Sustainability • Global safety-first standards • Market-proximate • Multi-partner model • End-to-end digital • Embed environmental and e
Slide 39: From single-source supply chain to global network
We are evolving from a single-source supply chain, to a global supply network Efficient opex and working capital: Reduced cost to serve and working Service responsiveness: Improved service levels through regional proximity to capital through regional sourcing, shorter lead times and optimised invent
Slide 40: Business Transformation
For personal use only Business Transformation Kathryn O’Hehir General Manager – Corporate Services
Slide 41: One globally interconnected business operating cadence
We operate as one globally interconnected business with a single cadence, that enables disciplined investment of our human and financial capital For personal use only Single Operating Cadence Value Discipline One planning and review rhythm across the company Stage-gated capital allocation Unified pr
Slide 42: Our business transformation horizon
Our business transformation horizon FY27 FY28 FY29 FY30 FY31 PMO Establishment PMO Continuous Improvement For personal use only Integrated Business Planning Optimisation and improvement Brand Refresh Product Innovation Product Innovation Customer and Consumer Engagement Digital and AI Transfo
Slide 43: Financial Performance
For personal use only Financial Performance Naomi Verloop Chief Financial Officer
Slide 44: FY26 upgraded outlook
FY26 upgraded outlook 1H FY26 performance Full Year FY26 guidance For personal use only $120.0M – $125.0M, reflecting 22-27% growth on Revenue1 $55.5M prior year Gross profit % 48% 40 – 45% EBITDA2 $3.0M $4.0M – 6.0M Underlying EBITDA3 $4.4M $9.0M – 11.0M 1 Revenue represents the revenue recognised
Slide 45: Targeting double digit revenue growth and operational leverage
We are targeting double digit revenue growth and operational leverage to drive organisational value For personal use only CAGR: 26% Accelerating growth through expanded market penetration, regional expansion and targeted innovation 120-125 Market Penetration Customer Acquisition 103 80 Regional Expa
Slide 46: Disciplined, capital light approach
Our disciplined, capital light approach manages risk and generates a strong return For personal use only Maximising value creation Maintain capital light balance sheet through the cycle Targeting strong alignment between strategic objectives and capital investment to fund growth Strategic capital ex
Slide 47: Recap Strategy
For personal use only Recap Strategy
Slide 48: Our 5-year growth strategy
Our 5-year growth strategy strengthens our core business, then expands into new markets and innovations to drive profitable growth Strategic pillars For personal use only Our Purpose To provide clean nutrition products that offer peace of mind for parents and life-long wellbeing for bubs Activate Br
Slide 49: Differentiated strengths underpin scalable growth
Our differentiated strengths underpin scalable growth which will deliver shareholder value For personal use only Attractive category with high Financial momentum; low debt, barriers to entry and strong Diversified global markets strong cash flow generation margins Proven brand equity in the premium
Slide 50: Thank You and Questions
Thank You and Questions For personal use only
Slide 51: For personal use only
For personal use only for happy families today and tomorrow