Pharmanutra

Investor Presentation • May 27, 2025

PHARMANUTRA

DOMESTIC AND INTERNATIONAL MARKET

REVENUES EVOLUTION: SOLID ORGANIC GROWTH

POSITIVE GROWTH TREND IN PROFITABILITY

TWO PHARMANUTRA PRODUCTS IN THE TOP20 DIETARY SUPPLEMENTS SOLD IN ITALY

	MAI Valvi (MIVE)
SIDERAL FORTE 20CPS	36.4	+8,8%
ESOXX ONE 20BUST STICK 10ML	25,0	+13,0%
GRINTUSS ADULTI SCIR 180G	23,2	+15,0%
GRINTUSS PEDIATRIC SCIR 180G	22,9	-6,0%
MARIAL 20 ORAL STICK 15ML	19,5	+12,2%
CARNIDYN PLUS 20BUST	19.4	+2,7%
ENTEROLACTIS PLUS 30CPS	18.9	+7,7%
ARMOLIPID PLUS 60CPR	18.6	-6.6%
VSL3 10BUST	17.3	+6,5%
YOVIS FLACONCINI 10FL OS	16,8	+22,9%
BETOTAL ADVANCE B12 30FL	13.8	+11,2%
ENTERELLE PLUS 24CPS	12.4	+12,6%
APPORTAL 14BUST	12,3	+17.0%
VICKS ZZZQUIL NATURA 60PAST	12.1	+11.4%
REUFLOR GOCCE 5ML	11.9	-4,2%
DICOFLOR GOCCE 5ML	11,8	-2,5%
NEOBIANACID 45CPR MASTICABILI	11,2	+10,1%
BETOTAL 40CPR	10,9	-8,9%
YOVIS STICK 10BUST	10,9	+12,8%
YOVIS CAPS 10CPS	10,8	+13,0%

Since November 2019 is N°1 Dietary Supplement sold in Italy

Source: New Line Ricerche di Mercato

WIDE INTERNATIONAL NETWORK: STRENGTHENING PHARMANUTRA PRESENCE ON GLOBAL STAGE

PharmaNutra operates in 91 countries with 64 partners,

carefully selected among the best international pharmaceutical and nutraceutical companies.

R&D EXCELLENCE

PHARMANUTRA'S UNIQUENESS Intellectual property protection

8

No player in the dietary supplements and medical devices industry has these 4 STRONG PILLARS IN ONE SINGLE COMPANY

SUCROSOMIAL® IRON MENTIONED IN THE GUIDELINE OF WHO

9

Read full press release

Read full press release

THE MOST RECENT R&D OUTCOME...

10

Results suggest that orodispersible Sucrosomial® Vitamins D3 and B12 have an higher absorption rate compared to conventional vitamins, demonstrating a high safety and tolerability.

LAUNCH: NOVEMBER 2024

Apportal® BOOST

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Conversion-Focused Campaigns on Amazon

YouTube Video Campaigns

Digital Advertising Campaigns Lifestyle & Business Platforms

Pharmacies (Physical Stores and Online)

THE ONLY PRODUCT THAT GUARANTEES IMMEDIATE ENERGY EVERY TIME YOU NEED IT

Apportal® Boost 22 active ingredients, carefully selected and properly dosed to deliver maximum energy effectiveness.

New Website / Campaign Landing Page

Social media

LAUNCH: JUNE 2025

THE RECENT SPORTING ACHIEVEMENTS

PHARMANUTRA INCREASE ITS VISIBILITY AS PARTNER OF THE MOST IMPORTANT SPORTING EVENTS AND TEAMS

• ➢ PharmaNutra with Cetilar® Nutrition until 2027 will be the Official Nutrition Partner of GIRO D'ITALIA, GRAN FONDO STRADE BIANCHE, STRADE BIANCHE, GRAN FONDO II LOMBARDIA
• ➢ PharmaNutra with Cetilar® brand is title sponsor of Pisa Sporting Club, the football team who was promoted to SERIE A in the 2024–2025 season
• ➢ In the Motorsport Pharmanutra consolidates its presence with Cetilar Racing in the American IMSA Championship in the GTD category, with a Ferrari 296 GT3 and supports the Ferrari/AF Corse Team in the new and highly anticipated Hypercar challenge developed by the Maranellobased manufacturer. Since 2023, Cetilar® brand has been featured on the Ferrari 499P, marking Ferrari's official return to the world of endurance prototypes.

FINANCIALS

FIRST QUARTER 2025

(€ million) ECONOMIC DATA	Q1 2025	%	Q1 2024	%	Change
REVENUES	26 8 ,	100 0% ,	24 0 ,	100 0% ,	11 6% ,
SALES REVENUES	26 4 ,	98 4% ,	23 7 ,	98 7% ,	11 2% ,
EBITDA	4 9 ,	18 4% ,	5 0 ,	20 6% ,	-0 3% ,
RESULT NET	2 4 ,	9 1% ,	2 6 ,	10 9% ,	4% -7 ,
Share(Euro) Earning per	0 25 ,		0 27 ,		3% -7 ,
(€ million) & BALANCE SHEET EQUITY	Q1 2025		ACT 2024		Change
INVESTED CAPITAL NET	56 3 ,		56 6 ,		(0 3) ,
FINANCIAL POSITION NET	8 1 ,		6 5 ,		2 5 ,
EQUITY	(64 4) ,		(62 2) ,		2 2 ,

• Solid organic growth in sales revenue with an increase of 11% compared to the same period of the previous year.
• The implementation process of the activities of the subsidiaries Pharmanutra España, Pharmanutra USA and the Cetilar® Nutrition products line is in line with forecasts, resulting in a limited reduction in margins due to the costs incurred. New projects' contribution to revenues still marginal.
• Steady generation of cash from Operating activities during the period (€2.1 million compared to €2.3 absorbed in the first quarter of 2024).

NET REVENUES

Net revenues at 31.03.2025 accounted for € 26,3 million, recording a 11,2% increase compared to the previous year.

Revenues on foreign markets recorded a growth of 18,2% while revenues on domestic market increased by 4,4%.

Akern's net revenues accounted for € 2 million (+43,9%), about 8% on the total net revenues of the Group.

NET FINANCIAL POSITION

NFP

The significative amount of cash generated by the operating activities (€ 2.1 million) and the use of tax receivables drove the increase of the Group's NFP net of outflows related to Capex (€ 0,7M) and share buybacks (€ 249K).

OUTLOOK 2025

• The foresee organic growth consistent with the Group's performance in 2024, despite a highly challenging environment, is expected to continue in 2025, together with a strong cash generation.
• The development of the new projects launched in 2023 Cetilar® Nutrition, Pharmanutra USA and Pharmanutra España – is in progress. It will lead to a limited reduction in margins for the current financial year and the following one.
• The strategies being implemented so far, along with ongoing and expanding Research and Development activities, lay the foundation for significant value creation in the coming years.

DPS VS STOCK PERFORMANCE

THE FUTURE

PHARMANUTRA USA STRATEGIC PLAN 2025-2027

In 2023 and 2024 set up of our HQ in Miami, creating the basis for digital marketing and e-commerce initiatives and opening contacts with hospital groups and doctors

From January 2025 new strategic plan implanted starting together with a primary international consulting firm

Focus on three different distribution channels aiming at exploiting full potential of US market

First results are expected in 2H and are planned to be progressively and significantly consolidated over the next 2 years.

EXPECTED US REVENUES 2025-2027

CHINA: FULL DIGITAL DISTRIBUTION APPROACH

The online supplement Chinese market size is around 13,5 billion €. So far in China Pharmanutra has a client basis of almost 60.000 unique buyer with 30% of repeat customers

Collaboration with influencers by posting stories , reelsand conducting live streaming event

In 2024 started developing digital visibility of scientific assets through publications on Nature China and meetings with HCPs

EXPECTED CHINA REVENUES 2025-2027

R&D PIPELINE: 162 PROTOTYPES IN DEVELOPMENT FOR 15 INNOVATIVE PRODUCTS

5 PRODUCTS

4 PRODUCTS

→ Intended for children with macro/micro nutrients deficiences →Pediatric field

→ Designed for athletes to enhance

4 PRODUCTS

→ Intended for adults with macro/micro nutrients deficiences →orthopedic, rheumatology and geriatric field

2 PRODUCTS

→ Intended for physical and mental fatigue recovery

→ Designed for adults

their perfomance →Sport nutrition field

PHARMANUTRA 2030 SALES DEVELOPMENT PROFITABILITY DEVELOPMENT

ESG STATE OF THE ART

The Group obtained a score of 71/100 (Silver Medal) in the environmental impact assessment conducted by EcoVadis, ranking in the Top 15% position.

Additionally, in 2024, the CDP evaluation questionnaire was completed, resulting in a score of B.

The Group is also awaiting the finalization of the Omnibus decree on the modification of the CSRD. In the meantime, with the aim of integrating into the ESRS principles, the Gap Analysis between the current reporting with GRI and the ESRS one will be completed, and the Life Cycle Assessment is in the design phase.

We actively working in order to improve our ESG rating and we are confident that once the domotic system implemented at the end of 2024 is fully operational and data related to consumptions are available the rating will further improve.