Slides
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Care Productivity Partnership Annual Shareholder Meeting 2026
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2 Disclaimer The information in this presentation was prepared by EBOS Group Limited (“EBOS” or the “Group”) with due care and attention. However, the information is supplied in summary form and is therefore not necessarily complete, and, to the extent permitted by law, no representation is made as to the accuracy, comple teness or reliability of the information. In addition, neither EBOS nor any of its subsidiaries, directors, employees, shareholders nor any other person shall have liability whatsoever to any perso n for any loss (including, without limitation, arising from any fault or negligence) arising from this presentation or any information supplied in connection with it. This presentation may contain forward-looking statements and projections. These reflect EBOS’ current expectations, based on wha t it thinks are reasonable assumptions, and are subject to a number of risks and uncertainties, including material adverse events, significant one-off expenses and other unforeseeable circumstances. To the extent permitted by law, EBOS gives no warranty or representation as to its future financial performance or any future matter. Except as required by law or NZX or ASX listin g rules, EBOS is not obliged to update this presentation after its release, even if things change materially. This presentation does not constitute financial advice and does not take into account the particular needs, objectives or circumstances of any investor. Any investors are encouraged to seek independent financial advice. Further, this presentation is not and should not be construed as an offer to sell or a solicitation of an offer to buy EBOS securities and may not be relied upon in connection with any purchase of EBOS securities. This presentation contains a number of non-GAAP financial measures, including Gross Operating Revenue, EBITDA, EBIT, NPAT, Underlying Operating Expenditure, Underlying EBITDA, Underlying EBIT, Underlying NPAT, Underlying Earnings per Share, Free Cash Flow, Underlying Cash from Operations, Underlying Free Cash F low, Cash Conversion Days, Net Working Capital, Net Debt, Leverage, Net Debt : EBITDA and Return on Capital Employed (ROCE). Because they are not defined by GAAP or IFRS, EBOS’ calculati on of these measures may differ from similarly titled measures presented by other companies and they should not be considered in isolation from, or construed as an alternative to, other fi nancial measures determined in accordance with GAAP. Although EBOS believes they provide useful information in measuring the financial performance and condition of EBOS' business, readers are cautioned not to place undue reliance on these non-GAAP financial measures. The information contained in this presentation should be considered in conjunction with the audited consolidated financial statements for the full year ended 30 June 2026 and EBOS’ other periodic and continuous disclosure announcements released to NZX and ASX, which are available at www.nzx.com and www.asx.com.au. EBOS and its businesses are subject to known and unknown risks, some of which are beyond the control of EBOS and/or may not b e fully mitigated. A summary of key financial and non-financial risks identified by EBOS can be found under ‘Risk Management’ at https://www.ebosgroup.com/who-we-are/corporate-governance. This should not be considered an exhaustive list. All currency amounts are in Australian dollars unless stated otherwise. Underlying earnings for the 30 June 2026 and 30 June 2025 periods exclude M&A transaction costs, non- recurring restructuring and site transition costs and the amortisation (non-cash) expense attributable to purchase price accounting (PPA) of finite life intangible assets. Underlying earnings to 30 June 2026 also excludes the net gain on acquisition related activities, which includes a gain (non -cash) on step acquisition of ABT Nevada reflecting the remeasurement of the Group’s previously held equity-accounted interest to fair value when control was obtained in December 2025.
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Welcome 3
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4 How to participate in virtual/hybrid meetings and ask a question
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5 How to participate in virtual/hybrid meetings and vote
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6 Board of Directors Elizabeth Coutts Independent Chair Mark Bloom Independent Director Dr Tracey Batten Independent Director Stuart McLauchlan Independent Director Coline McConville Independent Director Matt Muscio Non-executive Director Julie Tay Independent Director
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7 Agenda 1 Presentation: Elizabeth Coutts, Chair 2 Presentation: Adam Hall, CEO 3 Business of Meeting 4 Conclusion
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Chair presentation Elizabeth Coutts Chair
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9 EBOS is a scaled Care portfolio with 4 divisions Symbion & Healthcare Distribution Supplies medicines, consumables and logistics services to pharmacies, hospitals, government, and healthcare partners across ANZ ANZ’s #1 or #2 institutional healthcare distributor, contract logistics provider and pharmaceutical wholesaler Retail Pharmacy Brands Helps independent pharmacies grow through providing store brands, services, digital tools and retail support across a large network Australia’s #1 community pharmacy store network1, with a focus on health services Medical Technology Embedded in hospitals and surgical teams to support specialist medical technology and biologics solutions, across ANZ and SEA/HK #1 medical technology partner in multiple therapy areas across APAC, leadership in biologics allograft manufacturing Animal Care Makes and markets pet food, markets and distributes vet products and animal health brands through retail and wholesale channels ANZ’s #1 supplier of specialty dry dog food by volume, and #1 vet wholesale supplier Healthcare reporting segment 1. By number of branded pharmacies
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10 Investment cycle complete; EBOS to continue its growth momentum Solid growth; investment cycle complete Ongoing opportunities to build further value All FY26 guidance metrics met Balance sheet flexibility to invest in growth
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11 EBOS has actively evolved into a higher-quality portfolio through disciplined investment, ramping up in the past six years DC renewal delivering better Care to our customers and driving improved performance 208 367 437 582 624 585 614 FY21 FY22 FY23 FY24 FY25 FY26 Underlying EBITDA (A$m) Accelerated growth and portfolio rebalancing Complete DC renewal ~10% long-term CAGR Similar parts organic and inorganic Inorganic Strategic M&A Organic Major investments Pet Care Kitchen (Animal Care) HCL Perth Symbion Kemps Creek Onelink NZ DC Renewal Program (S&HD) FY25 EBITDA impacted by CWA contract expiration FY16 Pre-IFRS16 Post-IFRS16
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12 Sustainability, community and a safe and inclusive workplace Sustainability highlights • Third Climate Statement published, with refreshed climate- related risks and opportunities assessment • More rooftop solar • NZ electricity matched with renewable energy certificates • Greenfleet support since 2007 now >$2.9 million • ~98,000 native trees and shrubs planted in country Victoria • Refreshed DE&I Policy and new Respect at Work training Safety highlights • Warehouse engineering improvements and critical risk investment, continuing into FY27 • EBOS Life Savers: a Group-wide framework for high-risk activities • Board and ELT safety leadership walks with our people • Safety Matters: ‘work safe to get home safe’ Our sustainability pillars
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13 Supporting health and wellbeing in our communities Symbion & Healthcare Distribution Retail Pharmacy Brands Medical Technology Animal Care Supporting FightMND for over 10 years, with money raised through fundraising donated to help the fight against motor neurone disease Orthopeadic Outreach Australasia – delivering specialist surgical care underserved communities across Southeast Asia and the Pacific Donating Black Hawk kibble, supporting the nutritional needs of over 900 dogs across the Guide Dogs program For 20+ years, TerryWhite Chemmart has partnered with Ovarian Cancer Australia, supporting awareness, fundraising and education SELECT EXAMPLES
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14 Dividends EBOS’ Directors announced a final FY26 dividend of NZ 61.5 cents per share The final dividend was fully franked for Australian taxation purposes and imputed to 20% for New Zealand taxation purposes The full-year dividend was NZ 118.5 cents per share, maintaining a stable dividend since FY24 Dividend remains supported by: Strong cash flow generation Accretive returns from bolt-on investments Robust balance sheet with capacity for reinvestment Positive long-term industry growth outlook Final dividend
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CEO presentation Adam Hall Chief Executive Officer
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16 FY26 delivered: revenue +9.9%, Underlying EBITDA +5.0%1 12.8% 20bps change vs prior period, reflecting higher capital base ROCE $13,487m 9.9% growth RevenueGuidance delivered within range $225m 4.7% growth Underlying NPAT $250m (3.1% decrease) NPAT 2.1x Remains within target range of 1.7x to 2.3x Leverage3 109.8cps 0.1% growth Underlying EPS 121.7cps (7.3% decrease) EPS NZ 61.5 cps4 Maintained Payout ratio of 84.5% Underlying NPAT Dividend $599m 7.8% growth Underlying EBITDA2 $614m (+5.0% growth) EBITDA EBITDA2 $614m Capex $145m D&A $148m Net finance costs $119m Leverage 2.1x 1. Growth is FY26 Underlying compared to FY25 Underlying 2. FY26 Underlying EBITDA guidance updated on 22 April 2026 to reflect impact of elevated fuel price and broader energy cost pressures 3. Calculated in accordance with banking covenants and excludes IFRS 16 lease impacts 4. The final dividend was imputed to 20% and fully franked to 100% for New Zealand and Australian tax resident shareholders respectively
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17 In-line with industry Completed DC renewal program Delivered against all FY26 financial guidance metrics and Investor Day growth priorities Symbion & Healthcare Distribution Retail Pharmacy Brands Medical Technology Animal Care FY26 delivered growth in line with expectations2 & was supported by disciplined capital allocation across the portfolio, focused on achieving… Mid-high single-digit Expanded network and healthcare services High single-digit Expanded therapy and product portfolio Mid-high single-digit Expanded manufacturing and innovation capability 1. FY26 Underlying EBITDA guidance updated on 22 April 2026 to reflect impact of elevated fuel price and broader energy cost pressures 2. Excluding the fuel impacts arising as a result of the Middle East Conflict, FX Translation impacts and FX impacts on purchases All FY26 guidance metrics delivered within range 1 EBITDA $614m Capex $145m D&A $148m Net finance costs $119m Leverage 2.1x Delivered on every financial guidance metric Healthcare segment Animal Care segment
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18 Positive growth building through Q1 FY27 • Major DC renewal program now complete, with capex of ~$145 million in FY26, expected to step down to ~$100 million per annum in FY27 which remains on track • Lower capital intensity driving stronger free cash flow and increasing balance sheet capacity for further growth investment • FY27 guidance re-affirmed, while noting that growth remains weighted to the second half, with FX & fuel headwinds continuing to persist • Symbion & Healthcare Distribution: “Put capacity to work”, Kemps Creek ramp-up and CWNZ2 contract extended • Retail Pharmacy Brands: “Drive store dollars”, Network store growth and growing private label brands • Medical Technology: “Expand scope & reach”, Supply partnerships expanding, recent acquisitions performing • Animal Care: “New product & customer momentum”, BlackHawk & Vitapet sales performing strongly, promising entry into US market with Kiwi Kitchens • Combined support function costs across divisions, already started across finance and IT • Scaled negotiation benefits by coordinating groupwide procurement • Supply chain consolidation opportunities leveraging footprint to serve multiple divisions • Financial benefits expected to start in FY28, with further detail to be shared at the H1 FY27 results. Focus is on optimising costs across divisions FY26 saw solid growth; investment cycle complete Divisional growth momentum continues across Q1 FY27 Shared purpose unlocks cross- divisional synergies and organisational opportunities Step down in capex unlocks ~$150m bolt- on acquisition capital availability 1 FY27 guidance re-affirmed Additional financial benefits from FY28 1. Based on Net Debt / EBITDA ratio of 2.30x vs June 2026 ratio of 2.1x and conservative target EBITDA multiple paid 2. Chemist Warehouse New Zealand
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19 Symbion & Healthcare Distribution: Put capacity to work 1. Warehouse productivity index (indexed to FY25) 2. Management forecasts New CSO regime and Kemp’s Creek productivity gains on track; HCL Perth now serving customers • Contract extended, providing near-term earnings visibility for ProPharma • CWNZ is a modest component of Group earnings, contributing approximately mid-single digit annual EBITDA • Ample time to adjust cost base and footprint, with a clear multi-year ramp down through to end of FY28 • Non-CWNZ growth remains healthy, with major customer contract renewed • Sites consolidated, with 3 sites exited to date, Dunedin site closure now announced and further potential site consolidation opportunities CWNZ contract renewed and ramps down through FY28 Community Pharmacy: • Step-up in CSO funding pool from 1 July 2026, with CSO earnings tracking in line with expectations • Strong industry demand for GLP-1s, growing at ~49% CAGR (FY22- FY25) versus ~11% for high value medicines overall • Kemps Creek DC Q1 FY27 productivity gains remain on track Hospital medicines, consumables & others: • Major hospital player successfully onboarded • Consolidated Sentry’s Sydney DC into EBOS Healthcare’s network • Continued growth in aged care agreements, including corporate customers and independents Contract Logistics: • Successfully won 20 new principals in FY26 • Go-live of Perth DC supporting existing and new principals ProPharma Onelink Closure announced Legend:
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20 Retail Pharmacy Brands: Drive store dollars Growing the store network Leading in pharmacy vaccinations Accelerating online sales Monetising retail media Growing owned brands Q1 FY27 trading performance1 ~790 stores ~10 net new added2 24% TerryWhite Chemmart flu vaccination market share3 +25% growth in units sold via TWC online channels1 +35% unit uplift from retail media screen campaigns4 Low double digit growth in owned brands retail sales1 Multiple pathways driving store dollars across the network 1. Comparison is based on YoY, unless otherwise noted 2. Store counts include TWC, MediAdvice (majority acquisition in FY26), Cincotta branded pharmacies, and unbranded pharmacies supported by the group as at October 2026 3. FY26 flu season 4. Moving annual total
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21 OEMs Donor networks CUSTOMERS SUPPLIERS Reliable, trusted channel to market Access to world class technology >400 supply partnerships 2,000 healthcare practitioners engaged in our professional education initiatives per annum >4,500 hospitals and clinics served Medical Technology: Expand scope and reach #1 independent distributor in ANZ1 #1 independent distributor in SEA1 Largest biologics provider in Australia1 1. Management estimates 2. Consolidated in H1 FY26 Precision Surgical Spine and orthopaedic distributor FY26 acquisitions AlphaXRT Radiation Oncology solutions K-Talyst Aesthetics and reconstruction Origin2 US biologics
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22 Animal Care: New product and customer momentum Branded portfolio excelling in challenging market International presence continues to scale 1. Vs July/August prior year Mid-high single digit revenue growth1 Across Black Hawk & VitaPet Outpacing the category through continued share gains and recent price increases (Black Hawk) Kiwi Kitchens now ranged in California with more regions to come
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23 Based on a shared purpose, three programs of cross divisional synergy in motion Purpose and strategy set at Investor Day for the Group Support office optimisation • Reshaping teams to uplift capability and align capacity • Standardise, centralise, automate and partner • Small run-rate benefits by end of FY27 Scaled negotiation benefits • Group-wide spend visibility unlocks buying leverage • Quick wins across high-spend categories • Benefits build as legacy contracts renew Supply chain efficiency • Group-wide network optimisation • Leverages DC renewal and automation investment • Continuation of service levels Incremental financial benefits from FY28 Further detail at the H1 FY27 results Underway From FY27 Launching FY27–28 Proof of concept FY27
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24 FY27 guidance re-affirmed, with growth weighted to the second half EBITDA1 Capex 1. Based on Underlying EBITDA D&A Net finance Execution of divisional priorities underway…. $635-655m mid-single-digit organic EBITDA growth ~$100m investment program complete $152-162m impact of prior investment, growth H1 weighted $138-148m impact of prior investment, growth H1 weighted Symbion & Healthcare Distribution: “Put capacity to work” Retail Pharmacy Brands: “Drive store dollars” Medical Technology: “Expand scope and reach” Animal Care: “New product & customer momentum” …supporting existing FY27 guidance FY28 earnings growth supported by Group wide synergies Unchanged vs prior guidance | EBITDA & NPAT growth weighted to H2 FY27
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25 The EBOS value story Investment cycle complete; divisional growth initiatives & synergies now driving the next phase of value creation Clear growth initiatives across all divisions supporting continued EBITDA growth, despite cost pressures and competitive dynamics Strong positions with structural advantages EBOS has leading positions in essential care markets, leveraged to favourable structural tailwinds, underpinned by scale-driven productivity and advantaged partnerships Care portfolio focused on higher-growth, higher-return businesses EBOS has redeployed ~$2B of capital in the last 5 years to high- growth businesses, including Medical Technology and Animal Care Disciplined value creation Together, the EBOS Group creates value through a focus on returns, disciplined capital allocation, and repeatable M&A ~85% of our Group EBITDA is from businesses in #1 or #2 positions ~$150m capital available2 for future growth investments Our proof points Higher-growth businesses, including Animal Care, MedTech and RPB now >70% of Group EBITDA 1 Guiding to mid single digit EBITDA growth in FY27 1. Also includes high-growth businesses, e.g. in Contract Logistics and Medical Consumables 2. Based on Net Debt / EBITDA ratio of 2.30x vs June 2026 ratio of 2.1x and conservative target EBITDA multiple paid
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Business of meeting
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27 Item 1: Annual Report and Financial Statements To consider and receive the annual report and the financial statements for the year ended 30 June 2026 and the audit report thereon
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28 Item 2 Resolution 1 – Re-election of Director: Julie Tay Ms Julie Tay was appointed to the EBOS Group Limited Board in May 2023. Julie is currently a director of Sonova, a global hearing care solutions company, headquartered in Switzerland and listed on the Swiss stock exchange. She has over 30 years’ experience in international leadership roles across consumer healthcare, medical devices and digital healthcare. Julie was most recently Senior Vice President and Managing Director, Asia Pacific and member of the global Executive Management Committee for Align Technology. Prior to this time, she was regional head of Bayer Healthcare (Diabetes Care) in Asia Pacific and also previously held senior executive roles in Asia at Johnson Diversey and Johnson & Johnson. She has also completed the International Directors Program at INSEAD, and is a member of the Young President's Organization (YPO).
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29 Item 3 Resolution 2 – Auditor’s remuneration It is resolved that the directors of the Company be authorised to fix the fees and expenses of Deloitte as auditor of the Company. Deloitte is automatically reappointed as the auditor of the Company under section 207T of the Companies Act 1993. Pursuant to section 207S of the Companies Act 1993, this resolution authorises the directors to fix the fees and expenses of the auditor.
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30 Item 4 To consider any other business that can be properly brought before the meeting
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Conclusion