Announcement PDF H1 -25 Results Presentation 29August 2025 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. 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This Presentation is current as of 29 August 2025. 2 H1-25 Scorecard Sales Growth Margin Improvement • Revenue up 12.8% (H1-25 $7.6m, H1-24: $6.8m) • H1-25 gross margin 37% (35% H1-24) • Healthy Chef: strong Q2, H1-25 revenue $1.7m • • HFA: core hemp business stabilised (H1-25 $2.4m) Retail brands’ cost pressures (hemp grain, chocolate) offset by ecommerce margins • Mt Elephant: return to growth in Q2 vs Q1-2025 • Q2 -25 gross margin (38%), procurement improvements to underwrite further gains Ops. Optimisation Channel Diversification • • E-commerce growth in H1 reduced the risk of reliance on traditional retail Grocery and bulk channels experienced organic growth in Q2 vs Q1-2025 • Ananda NSW facility closed in March • Soul Seeds hemp products consolidated under Hemp Foods • Cost reduction measures to reduce cash burn as one-off costs also begin to fall away 3 Financial Highlights Group Revenue ($M) +0.8 Revenue Growth (12.8%) • Australia’s House of Brands (incl. Healthy Chef) drove 12.8% YoY growth in H1-25. 6.8 • H1 impacted by seasonality, with sales lower vs H2-24. • Elixinol Americas revenue softened as marketing scaled back ahead of rebrand and digital overhaul 5.8 1.0 H1-24 8.2 7.6 7.1 6.8 1.1 H2-24 0.8 H1-25 Australia Americas Adjusted EBITDA • Loss widened to –$2.2m (H1-24: –$1.5m; H2 -24: –$1.2m) • Integration of acquisitions increased costs; optimisation benefits to flow in H2 Adjusted* EBITDA ($M) • Margin pressures from ingredient costs and lower seed yields offset by Healthy Chef’s higher-margin portfolio • Rationalisation underway, paving the path to profitability -1.5 -1.2 -2.2 H1-24 H2-24 H1-25 *Adjusted to exclude non-cash impairments, share-based payments and non-recurring expenses 4 Profit and Loss Snapshot Revenue Revenue H1-25 $(M) 7.6 H1-24 $(M) 6.8 Cost of goods sold (4.8) (4.4) Gross Profit 2.8 2.4 GP Margin (%) 37% 35% Operating expenses (5.7) (4.1) Non-operating income 0.7 0.2 Adjusted* EBITDA (2.2) (1.5) Depreciation (0.5) (0.5) Impairment of assets (0.3) (0.1) Share-based payments 0.1 (0.2) Non-recurring expenses 0.1 (0.3) Adjusted EBITDA Interest income/(cost) (0.3) (0.1) Profit/(loss) before tax (3.1) (2.8) • - - Adjusted EBITDA loss of –$2.2m, with cost base transition and optimisation still underway (3.1) (2.8) • Procurement gains, ongoing rationalisation and integration synergies expected to improve H2 trajectory Tax expense Profit/(loss) after tax *Adjusted to exclude non-cash impairments, share-based payments and nonrecurring expenses • Revenue up 12.8% YoY to $7.6m, led by House of Brands expansion following Healthy Chef acquisition Margins • Gross margin lifted to 37% (vs 35%), supported by higher e-commerce mix • Ingredient cost pressures (hemp grain, chocolate) impacted margins but are resolved for H2 Operating Expenses • Higher Op Ex ($5.7m vs $4.1m) driven by integration of Healthy Chef operating costs and Ananda operations closing end Q1 5 Segment Performance Australia A$M H1 25 Revenue Gross profit GP% Op. expenses Other income Adjusted EBITDA* 6.8 2.3 33% (3.7) (1.4) Americas Corporate H1 24 H1 25 H1 24 H1 25 H1 24 5.8 1.7 30% (2.4) (0.7) 0.8 0.6 69% (0.9) 0.2 (0.1) 1.0 0.6 64% (0.7) 0.2 0.1 (0.7) (0.7) (0.9) (0.9) * Adjusted to exclude non-cash impairments, share-based payments and non-recurring expenditure Sales Channel Mix Shifting towards higher margin E-Commerce 15% 2025 38% 48% Other includes Bulk and Private Label E-commerce 21% Retail Other 19% 2024 Australia • Revenue up $1.0M, driven by Healthy Chef acquisition; base brands softer in Q1 but rebounded Q2 • Gross profit lifted to 33% with higher-margin ecommerce mix • Op Ex increased following acquisitions and dual facilities; Newcastle facility closed in H1 Americas • Revenue $0.8m (vs $1.0m), reflecting transition to ecommerce model • Margin grew to 69% (vs 64%) prioritising higher margin products Sales Mix • E-commerce mix rose to 38% (vs 21%), reducing reliance on lower-margin retail 59% 6 Financial Position Current assets Cash and cash equivalents Trade & other receivables Inventories Assets held for sale Other Total current assets Non-current assets Property, plant and equipment Intangible assets Deferred Tax Asset Other Total non-current assets Total assets Liabilities Trade and other payables Borrowings Other current liabilities Contingent Consideration Other Non-current liabilities Total liabilities Net assets 30 Jun 2025 ($M) 31 Dec 2024 ($M) 1.1 1.3 2.9 0.2 0.5 1.1 1.6 3.9 0.6 0.8 6.0 3.6 0.2 10.6 1.2 6.2 3.6 0.3 11.3 6.0 7.2 16.6 18.5 2.2 2.5 1.8 2.6 0.5 9.6 7.0 2.2 1.1 1.7 2.7 0.7 8.4 10.0 Working Capital • Receivables reduced with stronger collections • Inventory down ($3.9m → $2.9m) through improved turns and purchasing discipline • Trade and Other Payables steady • Significant improvement in the Cash Conversion Cycle Borrowings • Borrowings increased to $2.5m following $1.3m debt funding Contingent consideration • $2.6m liability relates to Healthy Chef acquisition Discipline to drive recovery • Net assets at $7.0m (Dec-24: $10.0m) reflecting focus on working capital reduction 7 H1 FY25 Cash Flow H1 25 $(M) H1 24 $(M) Cashflow from operating activities (1.4) (2.1) Cashflow from investing activities 0.0 0.4 Cashflow from financing activities 1.4 2.6 Net increase/(decrease) in cash 0.0 0.9 Opening cash and cash equivalents 1.1 0.7 FX impact - - Closing cash on hand 1.1 1.6 Net Cashflow • • • Neutral cashflow: financing inflows balanced operating outflows Operating Cash Flow • • Cash burn reduced to –$1.4m (H1 -24: –$2.1m) Improvement from lower losses (+$0.4m) and insurance proceeds (+$0.5m), partly offset by finance costs +0.8 -1.4 -2.1 0.5 Closing cash $1.1m (H1-24: $1.6m) H2 focus on cash discipline and operational efficiency for long term growth -0.1 0.4 H1 24 Lower Losses Insurance Proceeds Finance cost H1 25 8 H2 FY25 Growth Strategy H2 25 and Beyond Profitability Sustained Growth • Revenue up 12.8% YoY in H1-25; with stronger uplift expected in H2-25 from Q4-25 e-commerce peak • • Healthy Chef protein waters and GLP-1 launches to accelerate growth Gross margin lifted and stabilised in H1-25, expected to further improve in H2-25 • Q4-25 profitability targeted, with sustainable EBITDA run-rate into 2026 • Mt Elephant and Soul Seed range reset positions brands for retail expansion • Strategic product and customer margin review to support sustained profitability Operational Leverage Channels & Markets • Innovative launches planned for H2-25 to further drive e-commerce growth • • Retail growth to be reignited through innovation and refreshed ranging Business simplification and right-sizing to be completed during H2-25 • Final Integration costs fall away from H2-25 • Elixinol US brand and digital strategy refresh underway • Operating expenses to increase at a slower rate than revenues to improve profitability 10 Thank you!