Comvita Limited · NZX:CVT
Comvita — Investor Presentation (April 2026)
26 slides from Comvita's investor presentation, April 2026
Slide 1: Capital Raise Investor Presentation
Capital Raise Investor Presentation April 2026
Slide 2: Important Notice and Disclaimer (1/2)
Important Notice and Disclaimer (1/2) This presentation has been prepared by Comvita Limited (New Zealand company number 194391, (NZX:CVT)) (Comvita). This presentation has been Not financial product advice prepared in relation to an offer of new fully paid ordinary shares in Comvita (New Shares) by
Slide 3: Important Notice and Disclaimer (2/2)
Important Notice and Disclaimer (2/2) Financial Information The Specified Persons make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of The financial information in this presentation is given for illustrative purposes only and should not
Slide 4: Contents
Contents • Refinancing and Capital Raise Details • Guidance Reconfirmed and Balance Sheet Impact • Strategy Recap Appendix – Capital Raise Additional Information
Slide 5: Overview
Overview • Comvita has worked collaboratively with its lenders to agree a refinancing package, conditional on the successful execution of a capital raise of at least $25m, or such lesser amount approved by the lending syndicate1, and payment of the net proceeds of the capital raise in reduction of e
Slide 6: Refinancing and Capital Raise Details
Refinancing and Capital Raise Details
Slide 7: Refinancing Details
Refinancing Details Refinancing package arranged, conditional on a successful capital raise • Refinancing package agreed with lending syndicate, conditional on the successful execution of a capital raise of at least $25m (or such lesser amount approved by the lending syndicate)1, and payment of the
Slide 8: Key Terms of the Capital Raise
Key Terms of the Capital Raise Rights Offer • $30 million pro rata renounceable rights offer to Eligible Shareholders at a ratio of 1 for 1.53 (Rights Offer). • Up to approximately 46.1 million new fully paid ordinary shares in Comvita (New Shares) can be issued under the Rights Offer, representing
Slide 9: F&N Summary
F&N Summary We are pleased to welcome Singapore-listed Fraser and Neave, Limited (F&N), a leading Southeast Asian consumer group, as a strategic investor Collaboration provides foundation to accelerate Comvita’s strategy About F&N • Comvita is pleased to welcome F&N as a strategic shareholder and is
Slide 10: Capital Raise Size / Take Up Scenarios
Capital Raise Size / Take Up Scenarios Comvita is expected to raise between $25m and $44m, depending on Rights Offer take up • Capital raise is conditional on the refinancing package becoming unconditional, requiring Comvita to undertake a capital raise of at least $25m (or such lesser amount as app
Slide 11: Guidance Reconfirmed and Balance Sheet Impact
Guidance Reconfirmed and Balance Sheet Impact
Slide 12: Guidance Reconfirmed
Guidance Reconfirmed On track for improved financial performance • FY26 normalised EBIT guidance of $15.5m re-confirmed ($14.3m normalised pre IFRS 16)1. • Delivered on 1H26 financial objectives, including improved volume and disciplined cost control. • Remain focussed on key value drivers and assoc
Slide 13: Continued Inventory and Debt Progress
Continued Inventory and Debt Progress Inventory normalisation delivered ahead of plan… …supporting a meaningful and continuing debt reduction Inventory position ($m) Drawn debt position ($m) Cash 99 95 Net debt 88 76 71 65 59 146 46 43 137 144 136 132 86 112 121 80 82 99 101 28 89 21 63 62 68 53 49
Slide 14: Balance Sheet Impact of the Capital Raise
Balance Sheet Impact of the Capital Raise Capital raise expected to result in a significant deleveraging, de-risking Comvita’s balance sheet • Comvita intends that the net capital raise proceeds will be applied to repay its existing bank facilities to support the refinancing. • At a shareholder take
Slide 15: Strategy Recap
Strategy Recap
Slide 16: Differentiated Mānuka Platform
Differentiated Mānuka Platform 15+ 11K+ $192m 487 #1 1 Scale platform Distribution Scale markets points FY25 revenue employees filling plant 50+ 35 AA 84% 2 Globally recognised Mānuka honey brand Patents Global BRC Revenue from year heritage granted rating exports1 Vertically integrated supply Diver
Slide 17: Recap of Strategic Reset Priorities and Objectives
Recap of Strategic Reset Priorities and Objectives Four priorities to seek to sharpen core competencies and improve performance Focus area Overall objectives Expected benefits • Disciplined capital allocation framework to guide • Able to withstand primary sector risks. 1 Capital allocation capital s
Slide 18: Progress and Roadmap
Progress and Roadmap Significant progress to date, with clear current and future priorities across all four areas Progress to date Current priorities Future priorities Capital raise to reset balance sheet. Refinance bank facilities. ❑ Reintroduce dividends. $31m net debt reduction from $80m as
Slide 19: Our Strategy to Win and Build Long-Term Value
Our Strategy to Win and Build Long-Term Value Objectives 1 2 CONTINUE BUILDING A WORLD-LEADING WIN IN MĀNUKA HEALTH & WELLNESS BRAND Strategic imperatives Our enablers Our goals 1. Win in growth markets Get our hive humming through ✓ Strong and consistent optimising our base shareholder returns Stra
Slide 20: Appendix – Capital Raise Additional Information
Appendix – Capital Raise Additional Information • Rights Offer Timetable • Key Risks • Foreign Selling Restrictions
Slide 21: Rights Offer Timetable
Rights Offer Timetable Event Date Announcement of Rights Offer Wednesday, 15 April 2026 Rights ex-date1 Tuesday, 21 April 2026 Rights trading commences Tuesday, 21 April 2026 Record date for the Rights Offer Wednesday, 22 April 2026 Rights Offer opens Thursday, 23 April 2026 Offer Document dispatche
Slide 22: Key Risks Relating to the Capital Raise (1/3)
Key Risks Relating to the Capital Raise (1/3) This section outlines the key risks associated with the capital raise. These risks could have an effect on the performance of the Comvita share price as well as the financial performance and earnings of Comvita. While this section sets out the key risks
Slide 23: Key Risks Relating to the Capital Raise (2/3)
Key Risks Relating to the Capital Raise (2/3) China is a key market for Comvita and has been subject to prolonged disruption, softer consumer demand and aggressive competitor pricing. Comvita has undertaken China market risk exposure distribution resets and structural simplification in China, with a
Slide 24: Key Risks Relating to the Capital Raise (3/3)
Key Risks Relating to the Capital Raise (3/3) Comvita generates a significant proportion of revenue from offshore markets and is therefore exposed to movements in foreign exchange rates. Adverse movements in exchange rates may affect reported revenue, margins, cash flows and asset values when foreig
Slide 25: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In particular, Singapore. On-sale restrictions in Singapore may be applicable to investors who acquire New Shares. As such, investors are this document may not
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