Announcement PDF 1. Revenue for the current Elixinol Wellness Ltd continuing Australia business following the strategic transformation and portfolio restructuring, excluding the recently divested US CBD operations. Results are unaudited. 2. Underlying operating cash excludes financing costs, payments for income taxes and other items (timing adjustments and nonrecurring items). This is not an ASX Appendix 4C measure. ASX ANNOUNCEMENT ASX : EXL EXL Delivers Strong Gross Profit and Sales Growth 14 October 2026, Melbourne: Elixinol Wellness Ltd (ASX: EXL) ("EXL," "Elixinol," or "the Company"), a leading sustainable nutrition and wellness company, is pleased to report its September 2026 quarterly activity report and Appendix 4C (“Q3 FY26”). Key Highlights  Q3 FY26 recorded Sales Revenue of $3.6 million1 , up 6% on the prior corresponding period (pcp), with Gross Profit growing faster than Sales up 27% on pcp  Gross Margin increased to 42%, up 7 percentage points on pcp  Operating cost base reduced, with operating expenses down 26% on pcp  YTD (January to September) FY26 revenue growth of 6% and Gross Profit up 34% on pcp  Underlying operating cash flow positive for the fourth consecutive quarter2  Cash balance of $0.9 million as at 30 September  Signed a binding agreement to acquire Vitable, an Australian personalised supplement subscription platform, in an all-scrip transaction that should take the combined Group above $20 million in annual revenue on a proforma 2026 basis.  Completed the sale of the US business to Ananda Health Inc. on 4 September 2026, simplifying the Group and sharpening its focus on Australia Natalie Butler, CEO and Executive Director, commented: “Q3 FY26 continued the progress delivered through 2026. Revenue increased 6% on the prior corresponding period, gross profit grew 27% and gross margin expanded to 42%. These results reflect our focus on higher-margin products and channels, alongside an operating cost base that was 26% lower than the prior corresponding period. The Healthy Chef delivered revenue growth of 13%, driven by successful spring promotional campaigns, while Australian Primary Hemp ingredients revenue increased by 81% at an improved margin. Momentum strengthened through the quarter, with September revenue up 18% on the prior corresponding month. We also delivered our fourth consecutive quarter of positive underlying operating cash flow2 . Reported cash flow continued to reflect finance costs, prior-period payments and other adjustments, including costs associated with the US divestment. The consistency of our performance through 2026 demonstrates how the foundations of the business have been reset, providing a stronger base from which to grow. During the quarter, we completed the US divestment and signed the agreement to acquire Vitable, subject to shareholder approval. As we enter Q4, our focus is on building on this foundation through innovative brand expansion, while maintaining the margin and cost discipline that has underpinned the turnaround.” Q3 FY26 Overview Elixinol generated sales revenue of $3.6 million in Q3 FY26, an increase of 6% compared with the prior corresponding period (pcp). Performance during the quarter reflected the Company's continued focus on higher-margin revenue streams, disciplined portfolio management and an improved sales channel mix. The Healthy ChefTM Priceline rollout The Healthy ChefTM delivered revenue of $0.87 million, up 13% on pcp, driven by continued Stage One rollout into Priceline Pharmacy and successful spring promotional campaigns. Gross profit increased 10% on pcp to $0.52 million at a gross margin of 60%. Stage One of the Priceline partnership continued the roll out into stores nationally in July 2026, extending The Healthy Chef beyond its traditional direct-to-consumer channel into a high-traffic retail network and increasing brand awareness and consumer access. New Launch - The Healthy ChefTM Protein Broths The Healthy ChefTM also launched a new signature line of premium, 100% plant-based Protein Broths designed as clean, savory nutritional supplements. These instant formulas use organic Hemp Gold® protein as their base, providing a natural source of clean protein, fibre, magnesium, and iron. New Launch - Mt Elephant Cake PodsTM Mt ElephantTM launched its new innovative Cake PodsTM range into more than 700 Coles supermarkets nationally, marking the brand’s entry into the dessert category, with the rollout commencing in late Q3 and continuing into early Q4. Gross margin expansion Elixinol continued to improve sales revenue quality during Q3 FY26 through its focus on higher- margin products, owned brands and disciplined channel management. Gross margin increased to 42% in Q3 FY26, compared with 35% in Q3 FY25, reflecting portfolio optimisation and reduced exposure to lower-margin contracts and SKUs. As a result, Gross profit increased 27% on pcp to $1.5 million (Q3 FY25: $1.2 million). Cash flow and operating performance Cash receipts from customers of $3.9 million were ahead of quarterly sales of $3.6 million, reflecting strong collection of receivables carried over from the prior quarter. Meanwhile, the Company’s operating cost base decreased by 26% compared with the prior corresponding period. This included a 13% reduction in employee costs, 21% less marketing expenditure and 28% less administration and corporate costs. Net operating cash outflow for the quarter was $0.32 million. This result included non-recurring costs and impacts from out-of-cycle payments relating to prior periods, interest payments to secured loan note holders and costs associated with the Company's divestment of the US business. After those adjustments (per the chart below), the underlying operating cashflow for Q3 is positive $0.04 million. This represents the fourth consecutive quarter of positive underlying operating cash flow and an improvement of approximately $1.09million compared with Q3 FY25, when the underlying operating cash outflow was $1.05 million. The Company remains focused on delivering sustained positive underlying operating cash flow, supported by revenue momentum, increased contributions from higher-margin products and channels, and a structurally lower operating cost base established during FY26. Recent portfolio optimisation and channel expansion initiatives are expected to provide additional support for revenue growth over the coming quarters. Cash on hand as at 30 September 2026 was $0.9 million. Payments to related parties and their associates of $0.11 million, as disclosed in Item 6.1 of the Appendix 4C, relate to Director fees and executive director remuneration. Corporate update Proposed acquisition of Vitable: On 24 September 2026, the Company signed a binding agreement to acquire Vitable, an Australian personalised supplement subscription platform, in an all-scrip transaction comprising $2.5 million of equity, payable in five tranches and a performance- based Platform Kicker. Vitable contributed more than $5 million in revenue over the last twelve months, and the combined business is targeting more than $20 million in annual revenue in 2026. The acquisition remains subject to shareholder approval at a general meeting expected in November 2026. The target is for combined revenue of A$27m and A$3m EBITDA by 2028, on full realisation of the earn-out terms. 2. Underlying operating cash excludes financing costs, payments for income taxes and other items (timing adjustments and nonrecurring items). This is not an ASX Appendix 4C measure. Divestment of US business: On 31 August 2026, the Company entered into an asset purchase agreement to sell its US business to Ananda Health, Inc., with completion occurring on 4 September 2026. Headline consideration is approximately A$465,000, comprising A$250,000 upfront and deferred and contingent proceeds of up to A$215,000. The divestment simplifies the Group’s operations, reduces exposure to the evolving US regulatory environment and allows management to focus on the core Australian health and wellness portfolio. Gavin Evans, Chair, commented: “The Board is pleased with the progress delivered during Q3 FY26, a quarter that marked a significant step in the Company’s transformation. The completion of the US divestment and the binding agreement to acquire Vitable reflect our commitment to building a focused, scaled Australian health and wellness business. Over the past twelve months, management has successfully repositioned the business around stronger brands, higher-margin revenue streams and a significantly leaner operating cost base. These initiatives are now translating into improved financial performance, improving underlying cash generation and a more resilient operating platform. Importantly, the Company's performance over the past four quarters demonstrates a fundamental improvement in the quality and sustainability of the business. Expanding gross margins, disciplined cost management and improving operating cash flow provide a solid foundation for long-term value creation. We are particularly encouraged by the continued momentum of The HealthyChef, which is benefiting from strong consumer demand for premium wellness products and its expanded presence in Priceline, while our retail, e-commerce and B2B channels continue to provide multiple avenues for growth. Looking ahead, the Board remains focused on disciplined capital allocation and accelerating organic growth, particularly through The Healthy Chef's position in the rapidly expanding precision nutrition category, including bioactive peptides and other science-backed functional ingredients. The proposed acquisition of Vitable reflects our approach to complementary, capital-light acquisitions that enhance our capabilities and create long-term shareholder value, and we look forward to shareholders considering the transaction at the upcoming general meeting.” Quarterly business update overview: To watch an accompanying overview of the quarterly business update, and ask any questions, please visit the Elixinol Wellness Investor Hub. Authorised for release by the Board of Elixinol Wellness Limited. For further information, please contact: Natalie Butler, CEO & Executive Director natalie.butler@elixinolwellness.com About Elixinol Wellness Elixinol Wellness Limited (ASX: EXL) is a sustainable nutrition and wellness company operating across Australia. The Company produces, manufactures, and distributes a range of complementary products spanning key verticals including nutrition, wellness, and superfood ingredients. In Australia, Elixinol Wellness operates a vertically integrated hemp foods business. Its major retail brands include The Healthy Chef, Hemp Foods Australia and Mt Elephant, alongside ingredient brands Australian Primary Hemp and The Australian Superfood Co. Products are sold through grocery, wholesale, and e- commerce channels. To find out more, please visit www.elixinolwellness.com or the Elixinol Wellness Investor Hub https://investorhub.elixinolwellness.com/link/P3xNBy Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Name of entity Elixinol Wellness Limited ABN Quarter ended (“current quarter”) 34 621 479 794 30 September 2026 Consolidated statement of cash flows Current quarter $A’000 Year to date (9 months) $A’000 1. Cash flows from operating activities 3,935 11,424 1.1 Receipts from customers 1.2 Payments for (6) (28) (a) research and development (b) product manufacturing and operating costs (2,436) (7,113) (c) advertising and marketing (253) (781) (d) leased assets (12) (38) (e) staff costs (894) (2,546) (f) administration and corporate costs (480) (1,304) 1.3 Dividends received (see note 3) - - 1.4 Interest received 1 4 1.5 Interest and other costs of finance paid (134) (256) 1.6 Income taxes paid/(received) - (1) 1.7 Government grants and tax incentives 23 43 1.8 Other (non-recurring) (67) (442) 1.9 Net cash from / (used in) operating activities (323) (1,038) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (g) entities (h) businesses - - (i) property, plant and equipment - (19) (j) investments - - (k) intellectual property (5) (33) (l) other non-current assets - - Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (9 months) $A’000 2.2 Proceeds from disposal of: - - (a) entities (b) businesses 250 250 (c) property, plant and equipment - 55 (d) investments - - (e) intellectual property - - (f) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Cash acquired on equity settled business combination - - 2.6 Net cash from / (used in) investing activities 245 253 3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 240 240 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - (39) 3.5 Proceeds from borrowings 2,454 3,443 3.6 Repayment of borrowings (leases) (2,670) (3,299) 3.7 Transaction costs related to loans and borrowings (15) (46) 3.8 Dividends paid - - 3.9 Other - - 3.10 Net cash from / (used in) financing activities 9 299 Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. 4. Net increase / (decrease) in cash and cash equivalents for the period 996 1,411 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) (323) (1,038) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 245 253 4.4 Net cash from / (used in) financing activities (item 3.10 above) 9 299 4.5 Effect of movement in exchange rates on cash held - 2 4.6 Cash and cash equivalents at end of period 927 927 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 927 996 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 927 996 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 111 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) 4,042 3,963 7.4 Total financing facilities 4,042 3,963 7.5 Unused financing facilities available at quarter end 79 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. A Trade Debtor Finance facility of up to $1,500,000 and $300,000 for Trade finance was established with Scottish Pacific Business Finance Pty Ltd (“ScotPac”), on 20 December 2023. In August 2026, the Trade finance facility was increased by $140,000 to a limit of $440,000. As of 30 September 2026, $969,000 was drawdown against the Trade Debtor facility and $438,000 against the Trade finance facility. The total amount available to drawdown was $1,469,000. The interest rate on these facilities is approximately 11.27% on drawn-down amounts and is secured against the assets of the Group’s subsidiary, Elixinol Wellness (Byron Bay) Pty Ltd. During Q2 2025, the Company received $1.35 million under a 12-month secured debt facility, originally maturing on 31 May 2026 and bearing interest at 12% per annum, payable on maturity. At maturity, a portion of the loan note holders agreed to convert their debt into Convertible Notes. The remaining loans of $505,000 have agreed repayment plans, where all loans will be repaid by 31 March 2027. EXL reserves the right to early repayment. The interest rate on the remaining facilities is 15%. As at 30 September 2026, the balance of this facility was $505,000. On 30 December 2025, a THC Shopify Commerce Finance facility was established providing $420,000 of access to e-commerce revenue in advance. As at 30 September 2026, the balance of this facility was $55,000 with a term of 18 months with repayment of 17% of daily Shopify sales. The interest rate is a fixed fee of 9% of the initial facility. The facility is secured against future Shopify receipts. On 5 March 2026, a PayPal Commerce Finance facility was established providing $347,000 of access to e-commerce revenue in advance. As at 30 September 2026, the balance of this facility was $163,000 with repayment of 30% of daily PayPal receipts. The interest rate is a fixed fee of 8.4% of the initial facility balance. The facility is secured against future PayPal receipts. On 25 June 2026, a THC Shopify Commerce Finance facility was established providing $440,000 of access to e-commerce revenue in advance. As at 30 September 2026, the balance of this facility was $481,000 with a term of 18 months with repayment of 25% of daily Shopify sales. The interest rate is a fixed fee of 9.3% of the initial facility. The facility is secured against future Shopify receipts. On 28 July 2026, a HFA Shopify Commerce Finance facility was established providing $140,000 of access to e-commerce revenue in advance. As at 30 September 2026, the balance of this facility was $127,000 with a maximum term of 18 months with repayment of 25% of daily Shopify sales. The cost of funds is a fixed fee of 8.6% of the initial facility. The facility is secured against future Shopify receipts. On 2 September 2026, a deed of variation was entered into with an existing lender, Raw with Life Pty Ltd to repay the loan of $146,000 over a 24 month term, at an interest rate of 10%. As at 30 September 2026, the balance of this facility was $131,000. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 6 + See chapter 19 of the ASX Listing Rules for defined terms. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (323) 8.2 Cash and cash equivalents at quarter end (item 4.6) 927 8.3 Unused finance facilities available at quarter end (item 7.5) 79 8.4 Total available funding (item 8.2 + item 8.3) 1,006 8.5 Estimated quarters of funding available (item 8.4 divided by item 8.1) 3.1 Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. 8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? N/A 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? N/A 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? N/A Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 14 October 2026................................................................................... Authorised by: ........By the Board…........................................................................ (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 7 + See chapter 19 of the ASX Listing Rules for defined terms. [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.