Announcement PDF BINDING TERM SHEET FOR A PROPOSED ASSET ACQUISITION Elixinol Wellness to acquire Vitable The future of everyday wellness gets personal Elixinol Wellness Limited (ASX: EXL) DRAFT FOR REVIEW. PROPOSED ACQUISITION SUBJECT TO CONDITIONS AND APPROVALS 01 24 Sept 2026 What the deal unlocks for Elixinol The strategic value extends beyond Vitable's current revenue. 01 A DATA ENGINE 1.84m quiz and recommendation records, enriched by purchase behaviour, strengthen personalisation, retention and cross-sell. 02 RECURRING DIRECT REVENUE 7,851 active subscribers add recurring DTC revenue alongside Elixinol's retail and wholesale channels. 03 ACQUISITION CREDIBILITY Successful completion and integration create a stronger base for future partnerships and bolt-on acquisitions. 04 POTENTIAL RE-RATING Global precedents show that recurring, data-rich consumer health platforms can attract stronger strategic interest. The platform becomes more valuable as more customer needs, products and services connect to it. Sources: Vitable management materials, draft acquisition announcement and global precedent sources on slide 7. 05 Vitable makes supplements personal and easy Today, Vitable personalises supplements using information customers provide through its health quiz. Elixinol plans to explore at-home testing through specialist partners, adding measured results to the existing profile. TODAY 1 QUIZ Customer-reported goals and lifestyle 2 RECOMMEND A tailored supplement plan 3 DAILY PACKS A simple recurring routine PLANNED NEXT STAGE 4 AT-HOME TEST Add measured biomarker results 5 TRACK See how results change over time 6 REFINE Update the next recommendation From a one-time health snapshot to personalisation that can be measured and improved over time Sources: Vitable materials, Apr 2026, and Elixinol strategy. Testing remains subject to partner, regulatory and clinical review. 02 1.84m QUIZ + RECOMMENDATION RECORDS Vitable unlocks Elixinol’s next growth chapter Elixinol already owns Australian wellness brands spanning healthy foods, functional nutrition and supplements. Vitable adds personalisation, subscription revenue and a direct digital customer relationship. ELIXINOL TODAY THE ACQUISITION ADDS 01 EVERYDAY HEALTH FOOD Hemp Foods Australia + Mt Elephant Whole foods, fibre, protein and better-for- you pantry products. 02 FUNCTIONAL SUPPLEMENTS The Healthy Chef Collagen, protein, powders and targeted daily nutrition. 03 HEALTH TECHNOLOGY PLATFORM Vitable Personalised tablets and capsules in simple daily packs. Cross-sell works in both directions across consented customer audiences Source: Elixinol portfolio strategy and Vitable materials. Customer marketing remains subject to consent and privacy law. 03 Immediate synergies can strengthen every brand A larger owned audience, broader product range and shared digital capability create revenue and cost opportunities from completion. VITABLE Personalised supplements THE HEALTHY CHEF Functional nutrition HEMP FOODS AUSTRALIA Whole-food wellness MT ELEPHANT Better-for-you pantry ONE SHARED CUSTOMER + COMMERCE ENGINE Consented health data, CRM, e-commerce, content and customer insight CROSS-SELL THE PORTFOLIO Match customers with relevant products across food, nutrition and supplements. LOWER ACQUISITION COST Use owned audiences and direct channels before paying to acquire customers again. GROW REPEAT VALUE Broader solutions can lift order frequency, retention and customer lifetime value. SHARE CAPABILITY Combine e-commerce, content, customer service and corporate support. Every new customer and purchase can improve the performance of the whole portfolio. Sources: Draft acquisition announcement and management strategy, Sep 2026. Potential synergies are not a forecast. 04 Deal mechanics and next steps Most consideration is deferred, with clear conditions and a defined approval path. 01 UNCONDITIONAL A$1.25m Completion, 6 months and 12 months Time-based, with no performance condition 02 CONDITIONAL A$1.25m 12 months and 24 months Gated on Net Revenue and Direct EBITDA growth 03 PLATFORM KICKER A$1.0m Trigger available for up to 36 months Only if EXL market capitalisation exceeds A$20m PATH TO COMPLETION 1 BINDING TERM SHEET Sep 2026 2 CONFIRMATORY DUE DILIGENCE and transition plan 3 GENERAL MEETING Shareholder Approvals 4 COMPLETION then 6-month transition Sources: Draft binding term sheet and Chair strategy deck, Sep 2026. Dates remain subject to change. 06 Global capital is already moving into personalised health Major consumer and digital health groups are buying supplement brands, recurring revenue and personalised health platforms. US$4.95bn+ disclosed value across two major 2026 transactions Global buyers are committing real capital to categories that combine trusted brands with direct customer relationships. P&G + THORNE US$3.8bn cash Science-backed supplements and personalised health Announced Aug 2026 HIMS & HERS + EUCALYPTUS Up to US$1.15bn Australian consumer health and subscription platform Completed Jun 2026 UNILEVER + GRÜNS Consideration undisclosed Fast-growing direct-to-consumer supplement brand Completed Jun 2026 Direct customer relationships, recurring revenue and personalisation sit at the centre of these deals. Sources: P&G, Hims & Hers and Unilever company releases; Reuters, Aug 2026. 07 A larger business from day one. Built for what comes next Vitable gives Elixinol a direct customer engine, consented customer insight and recurring relationships across the wellness journey. WHY THE MODEL CHANGES 01 OWNED ROUTE TO MARKET App, email and subscription channels reduce repeated acquisition spend. 02 CUSTOMER INSIGHT THAT COMPOUNDS Each interaction improves relevance and guides what the Group builds next. 03 A READY AUDIENCE FOR GROWTH New products, services and bolt-on brands can reach existing customers faster. STARTING SCALE A$20m+ combined Group revenue from completion 3-5 YEAR AMBITION A$50m Illustrative management ambition. Not guidance. Vitable gives Elixinol the engine to build a much larger consumer health company. Sources: Draft acquisition announcement and management strategy, Sep 2026. A$50m is an illustrative ambition, not guidance. 08 Disclaimer This presentation has been prepared by Elixinol Wellness Limited (Company). It contains general background information only which is current at the date of this presentation unless otherwise specified. It contains selected summary information and does not purport to be all-inclusive, comprehensive or contain all information that may be relevant, or which a prospective investor may require in evaluating a possible investment in the Company. Prospective investors should not rely on the information contained in this presentation and must satisfy themselves as to the accuracy of all such information. This presentation has been prepared based on information available at the time of preparation and is subject to change without notice. This presentation is provided for general information purposes only. It does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of securities in the Company in any jurisdiction. It is not a prospectus, product disclosure statement, pathfinder document or any other type of public offer disclosure document for the purposes of the Corporations Act 2001 (Cth) and has not been, and is not required to be, lodged with the Australian Securities and Investments Commission (ASIC). It should not be relied on by the recipient in considering the merits of the Company, or the acquisition of shares in the Company. None of Elixinol Wellness, its subsidiaries nor its representatives make any representation, warranty or guarantee of any kind, express or implied, as to the accuracy, completeness or reasonableness of the information contained herein or any other written or oral communication transmitted or made available to any person receiving this presentation. To the maximum extent permitted by law, Elixinol, its subsidiaries and representatives expressly disclaim all liability based on or arising from, in whole or in part, such information, or any errors or omissions. This presentation contains forward-looking statements regarding the Company's resources, intentions and future business, including the future business of its subsidiaries. These statements reflect current information, expectations, intentions and strategies regarding the future, and are subject to certain risks and uncertainties. Should one or more of these risks or uncertainties materialise, or should any of the underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this presentation. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Other than where required by law, the Company is under no obligation to revise any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. Though reasonable care has been taken to ensure that the facts are accurate and that the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results and market development may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. This presentation is current as of 24 September 2026. Elixinol Wellness Limited (ASX: EXL) 09 ELIXINOL WELLNESS LIMITED (ASX: EXL) Thank you Authorised for release by the Board of Elixinol Wellness Limited FOR FURTHER INFORMATION Natalie Butler CEO & Executive Director natalie.butler@elixinolwellness.com Elixinol Wellness Limited (ASX: EXL) 10