Vinpai

Earnings Release • Oct 30, 2023

Press release

Availability of the 2023 Half Year Financial Report

Saint-Dolay - France, October 30, 2023 - 6:45 pm CET - Vinpai (ISIN: FR001400AXT1; ticker: ALVIN), a specialist in the design, manufacture and marketing of algae- and plant-based functional ingredients for the food and cosmetics industries, today announces it has made available to the public and filed with the Autorité des marches financiers its 2023 half year financial report, only available in French.

The report is available and can be downloaded on Vinpai's website (in the "Documentation > Financial report" section): www.vinpai-finance.com.

2023 Half Year Results

Following the limited review by the statutory auditors (over the period January 1 to June 30, 2023), the simplified income statement at the end of June is presented as follows.

In €k	06/30/2023	06/30/2022
Sales	3,984	2,886
Purchases of raw materials and consumables	1,999	1,585
Gross margin1	1,985	1,301
Gross margin rate	49.8%	45.1%
Earnings Before Interest and Taxes (EBITDA)2	(381)	(374)
Operating profit2	(612)	(560)
Profit before taxes2	(836)	(654)
Net profit (group share)2	(781)	(573)

Next financial announcement: 2023 third quarter sales, on November 9, 2023, after market close

² Operating expenses for 2022 included a write-back of a provision for paid leave incorrectly booked in 2021. This had a positive impact of €162,000 on operating expenses, which must be increased by this amount for an accurate comparison.

¹ Corresponds to the difference between the sales and purchases of raw materials and consumables.

About Vinpai

Founded in 2011 by Cyrille Damany and Philippe Le Ray, Vinpai is an ingredien'tech specializing in the design, manufacture and marketing of functional ingredients based on algae, plants, minerals and fibers, offering manufacturers natural alternatives to chemical additives. Positioned in the most promising market segments, Vinpai provide supports to food, cosmetics and nutraceutical manufacturers, thanks to its cross-technology knowhow, enabling them to upgrade the nutritional qualities of their end products. The combination and mixing of ingredients and food additives enable manufacturers to accelerate their development, optimize their production costs and generate profitability. Operating on two sites, in Saint-Dolay (Morbihan) and near the harbour of Saint-Nazaire, Vinpai has developed over 3,500 formulations and has 39 employees. In 2022, the Company has recorded sales of €6.2 million, over half of which abroad, and is established in over 35 countries.

For further information: www.vinpai.com

Contacts

Vinpai

Philippe Le Ray Chief Executive Officer investors@vinpai.com

NewCap

Théo Martin Aurélie Manavarere Investor Relations vinpai@newcap.eu T. : 01 44 71 94 94

NewCap

Nicolas Mérigeau Antoine Pacquier Media Relations vinpai@newcap.eu T. : 01 44 71 94 98