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August 27, 2026 Phibro Animal Health Corporation Financial Results Fiscal Year2026 Fourth Quarter Ended June 30, 2026 Webcast and Conference Call August 27, 2026 U.S. toll-free +1.888.330.2022 International toll +1.365.977.0051 Conference ID: 3927884 Webcast and Conference Call
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August 27, 2026 Important Information 2 Webcast and Conference Call Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements that are subject to risks and uncertainties, including with respect to any future debt and leverage levels. All statements other than statements of historical or current fact included in this presentation are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “outlook,” “potential,” “project,” “projection,” “plan,” “intend,” “seek,” “may,” “could,” “would,” “will,” “should,” “can,” “can have,” “likely,” the negatives thereof and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. These statements are not guarantees of future performance or actions. If one or more of these risks or uncertainties materialize, or if management’s underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Phibro expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Quarterly Report on Form 10-Q and Annual Report on Form 10-K, including in the sections thereof captioned “Forward-Looking Statements” and “Risk Factors.” These filings and subsequent filings are available online at www.sec.gov, www.pahc.com, or on request from Phibro. Non-GAAP Financial Measures We use non-GAAP financial measures, such as adjusted EBITDA, adjusted net income, adjusted diluted EPS and free cash flow to assess and analyze our operational results and trends and to make financial and operational decisions. Management uses adjusted EBITDA as its primary operating measure. We report adjusted net income to portray the results of our operations prior to considering certain income statement elements. We believe these non-GAAP financial measures are also useful to investors because they provide greater transparency regarding our operating performance. The non-GAAP financial measures included in this presentation should not be considered alternatives to measurements required by GAAP, such as net income, operating income, and earnings per share, and should not be considered measures of liquidity. These non-GAAP financial measures may not be comparable with non-GAAP information provided by other companies. Reconciliation of non-GAAP financial measures and GAAP financial measures are included in the tables accompanying this presentation and/or our Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Reported results are presented in accordance with GAAP, whereas adjusted results are GAAP results adjusted to exclude a) acquisition-related items, including intangible amortization, cost of goods sold and transaction costs, b) unusual, non-operational or non-recurring items, including stock-based compensation and restructuring costs, c) other (income) expense as separately reported in the consolidated statements of operations, including foreign currency (gains) losses, net and d) income tax effects related to pre-tax adjustments and unusual or non-recurring income tax items. We are not providing a reconciliation of forward-looking guidance of non-GAAP financial measures to the most directly comparable GAAP financial measures because of the uncertainty regarding, and the potential variability of, certain of the items required for a reconciliation; accordingly, a reconciliation of the non-GAAP financial measure to the corresponding GAAP financial measure is not available without reasonable effort. These items are uncertain, depend on various factors and may have a material impact on our future GAAP results. Internet Posting of Information We routinely post information that may be important to investors in the “Investors” section of our website at www.pahc.com. We encourage investors and potential investors to consult our website regularly for important information about us. This presentation is a supplement to, and should be read in conjunction with, Phibro Animal Health Corporation’s earnings release for the quarter and year ended June 30, 2026.
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August 27, 2026 Strong Performance in Animal Health 3 Webcast and Conference Call Q4 Total Animal Health sales and adjusted EBITDA growth of 2% and 25% Sales growth: • MFAs and other Legacy +11% • MFAs and other Z-Product -11% • Nutritional specialties +5% • Vaccines +4% Q4 Total Legacy Animal Health Business sales growth of 8% Fiscal Year to Date Total Animal Health sales and adjusted EBITDA growth of 21% and 37% Sales growth: • MFAs and other Legacy +4% • MFAs and other Z-Product +70% • Nutritional specialties +9% • Vaccines +14% Fiscal Year to Date Total Legacy Animal Health Business sales growth of 7% Key Themes Continued Sales Momentum Q4 Total Consolidated sales and adjusted EBITDA growth of 5% and 29% Sales growth: • Animal Health +2% • Mineral Nutrition +20% • Performance Products +1% Q4 Total Legacy Business sales growth of 10% Fiscal Year to Date Total Consolidated sales and adjusted EBITDA growth of 17% and 39% Sales growth: • Animal Health +21% • Mineral Nutrition +11% • Performance Products -8% Fiscal Year to Date Q4 Total Legacy Business sales growth of 7% Updated 2027 guidance • Net sales of $1.550 billion to $1.600 billion • Adjusted EBITDA of $258 million to $268 million • Adjusted EPS of $3.41 to $3.59 • GAAP EPS $2.98 to $3.22 FY2027 Full Year Guidance Business Updates Phibro Forward reaches peak cumulative EBITDA contribution of ~$50 million in FY27 vs. baseline of FY24 Phibro to close site acquired as part of the Zoetis MFA acquisition at end of FY27 Ongoing discussions with Brazil regulatory agencies on therapeutic claims for Virginiamycin
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August 27, 2026 Financial Performance - Consolidated Fourth Quarter, Year-on-Year comparison Year-On-Year % changes are in comparison to the same period of the prior fiscalyear Adjusted results adjust GAAP results for one-off items, acquisition-related items and other (income) expense, including foreign currency (gains)losses. $ in millions, except per sharedata 4 Webcast and Conference Call Q4 Q4 YOY FY25 FY26 %∆ Consolidated Net Sales 378.7$ 396.7$ 5% Net Income 17.2$ 21.7$ 26% Diluted EPS 0.42$ 0.53$ 26% Adjusted EBITDA 50.0$ 64.2$ 29% Adjusted Net Income 25.6$ 35.0$ 37% Adjusted Diluted EPS 0.63$ 0.85$ 35%
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August 27, 2026 Financial Performance - Consolidated Full Year, Year-on-Year comparison Year-On-Year % changes are in comparison to the same period of the prior fiscalyear Adjusted results adjust GAAP results for one-off items, acquisition-related items and other (income) expense, including foreign currency (gains)losses. $ in millions, except per sharedata 5 Webcast and Conference Call Full Year Full Year YOY FY25 FY26 %∆ Consolidated Net Sales 1,296.2$ 1,518.1$ 17% Net Income 48.3$ 99.7$ NA Diluted EPS 1.19$ 2.43$ NA Adjusted EBITDA 183.7$ 255.0$ 39% Adjusted Net Income 88.1$ 131.7$ 49% Adjusted Diluted EPS 2.17$ 3.22$ 48%
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August 27, 2026 Financial Performance – Animal Health Fourth Quarter, Year-on-Yearcomparison $ in millions 6 Webcast and Conference Call Year-On-Year % changes are in comparison to the same period of the prior fiscalyear Adjusted results adjust GAAP results for one-off items, acquisition-related items and other (income) expense, including foreign currency (gains)losses. Q4 Q4 YOY FY25 FY26 %∆ Animal Health Net Sales 292.5$ 297.6$ 2% MFAs & other Legacy 112.0 123.7 11% MFAs & other Z-Product 94.5 83.9 (11%) Total MFA & other 206.5 207.6 1% Nutritional specialties 47.4 49.9 5% Vaccines 38.6 40.1 4% Adj. EBITDA 60.6$ 75.4$ 25% Adj. EBITDA Margin 20.7% 25.4% +470 bps
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August 27, 2026 Financial Performance – Animal Health Full Year, Year-on-Yearcomparison $ in millions 7 Webcast and Conference Call Year-On-Year % changes are in comparison to the same period of the prior fiscalyear Adjusted results adjust GAAP results for one-off items, acquisition-related items and other (income) expense, including foreign currency (gains)losses. Full Year Full Year YOY FY25 FY26 %∆ Animal Health Net Sales 962.8$ 1,162.2$ 21% MFAs & other Legacy 438.2 456.4 4% MFAs & other Z-Product 208.2 354.3 70% Total MFA & other 646.4 810.7 25% Nutritional specialties 179.3 195.1 9% Vaccines 137.2 156.4 14% Adj. EBITDA 222.3$ 303.6$ 37% Adj. EBITDA Margin 23.1% 26.1% +300 bps
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August 27, 2026 Financial Performance – Other Segments Fourth Quarter, Year-on-Yearcomparison $ in millions Year-On-Year % changes are in comparison to the same period of the prior fiscalyear Adjusted results adjust GAAP results for one-off items, acquisition-related items and other (income) expense, including foreign currency (gains)losses. 8 Webcast and Conference Call Q4 Q4 YOY FY25 FY26 %∆ Mineral Nutrition Net Sales 64.2$ 77.0$ 20% Adj. EBITDA 5.6$ 5.6$ 1% Adj. EBITDA Margin 8.7% 7.3% -140 bps Performance Products Net Sales 22.1$ 22.2$ 1% Adj. EBITDA 3.0$ 3.4$ 12% Adj. EBITDA Margin 13.8% 15.4% +160 bps Corporate Adj. EBITDA (19.3)$ (20.2)$ 5%
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August 27, 2026 Financial Performance – Other Segments Full Year, Year-on-Yearcomparison $ in millions Year-On-Year % changes are in comparison to the same period of the prior fiscalyear Adjusted results adjust GAAP results for one-off items, acquisition-related items and other (income) expense, including foreign currency (gains)losses. 9 Webcast and Conference Call Full Year Full Year YOY FY25 FY26 %∆ Mineral Nutrition Net Sales 253.2$ 282.3$ 11% Adj. EBITDA 20.8$ 21.7$ 4% Adj. EBITDA Margin 8.2% 7.7% -50 bps Performance Products Net Sales 80.2$ 73.5$ (8%) Adj. EBITDA 10.5$ 8.1$ (24%) Adj. EBITDA Margin 13.2% 11.0% -220 bps Corporate Adj. EBITDA (70.0)$ (78.3)$ 12%
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August 27, 2026 Free Cash Flow (1) Leverage Free cash flow was $10 million for the TTM -- positive cash from operating activities of $69 million, less capital expenditures of $(59) million. Cash and cash equivalents of $82 million 2.9x gross leverage ratio; $738 million total debt / $255 million TTM adjusted EBITDA 2.6x net leverage ratio; $656 million debt / $255 million TTM adjusted EBITDA Key Capitalization Metrics June 30, 2026 Quarterly dividend of $0.12 per share; $4.9 million dividend paid Dividend 10 (1) Free cash flow equals cash flow from operating activities less capital expenditures TTM: trailing twelve months Webcast and Conference Call Our debt is hedged with Interest Rate Swaps as follows: 1) $150 million of debt at fixed interest rate of 3.18% + margin through September 2029; and 2) $275 million of debt at fixed interest rate of 3.64% + margin through February 2030. Interest Rates
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August 27, 2026 $ in millions, except earnings per share (EPS) data 11 Webcast and Conference Call Financial Guidance – Phibro Fiscal Year 2027 FY 2026 Actual Low High Consolidated Net Sales 1,518$ 1,550$ 1,600$ Net Income 100$ 122$ 132$ Diluted EPS 2.43$ 2.98$ 3.22$ Adjusted EBITDA 255$ 258$ 268$ Adjusted Net Income 132$ 140$ 147$ Adjusted Diluted EPS 3.22$ 3.41$ 3.59$ Adjusted Effective Tax Rate Range 23.7% FY 2027 Full Year Guidance ~ 20%
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PAHC Company Overview 12 Webcast and Conference CallAugust 27, 2026 Q&A