PHARMANUTRA ECCELLENZE DEL MADE IN ITALY

MILAN, SEPTEMBER 25,2024

PHARMANUTRA GROUP

THE GROUP

PHARMANUTRA

Founded in 2003 experienced a continuous and long-lasting organic growth development path.

Listed in 2017 on the AIM market of the Italian Stock Exchange, in December 2020 the Group switched to trading in the EURONEXT STAR MILAN.

In 2023 new HQ building including top-class R&D Lab Area and manufacturing plant of Sucrosomial ® Minerals.

GROUP PHARMANUTRA GROUP | JULY 2024

PHARMANUTRA REACH 100M € TURNOVER TARGET IN JUST 20 YEARS

Data at june 2024

PHARMANUTRA IS A RELEVANT PLAYER IN THE ITALIAN NUTRACEUTICAL MARKET

TOP 10 COMPANIES IN THE NUTRACEUTIC MARKET

Source IQVIA_Turnover of the top 10 pharmacy companies (millions of €)

Evaluation on the Nutraceutical Market_excluding Cetilar

TWO PHARMANUTRA PRODUCTS IN THE TOP20 DIETARY SUPPLEMENTS SOLD IN ITALY

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

SIDERAL® LEADING MARKET GROWTH IN ITALY

PharmaNutra operates in 87 countries with 58 partners, carefully selected among the best international pharmaceutical and nutraceutical companies.

SPORT MARKETING

Pre-match & medical partner

R&D EXCELLENCE

THE GROUP

PHARMANUTRA'S UNIQUENESS Intellectual

property protection

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

SCIENTIFIC RESEARCH ACTIVITIES

Sucrosomial® Iron has been described as the most innovative oral iron in several Consensus Papers

MAIN ON-GOING SCIENTIFIC WORLDWIDE COLLABORATIONS

6 5 UniPd Università degli studi di Padova: informazioni utili - UnidTest UNIVERSITÀ DEGLI STUDI DI BRESCIA - Campus Orienta Digital New York Blood Center | HIA-LI Member GALILEO RESEARCH | Distretto Toscano Scienze della Vita Fondazione Toscana Life Sciences

University of Pisa (UniPI) | REINFORCE

THE REAL PICTURE OF RELEVANT SCIENTIFIC RESEARCH ON IRON TOTAL STUDIES

SOURCE Pubmed 1980 - 2024 Data updated at 04.2024

IRON SCIENTIFIC RESEARCH IN THE NEW MILLENNIUM

*Data excluding studies with inaccessible content and those not directly related to iron supplementation (such as fortified food)

SOURCE Pubmed 2000 - 2024 Data updated at 04.2024

SIDERAL® – SUCROSOMIAL® IRON

Sideral® represents a quite new and still unique preparation of ferric pyrophosphate conveyed into a

PHOSPHOLIPID PLUS SUCROSE ESTERS OF FATTY ACIDS MATRIX, that is useful for treatment of most

of all iron deficiency related anemia.

SIDERAL® SCIENTIFIC UNIQUE SELLING PROPOSITIONS...

...SIDERAL® IS THE SMART IRON

THE SMART IRON THAT WORKS WHERE OTHER OPTIONS FAIL

CLINICAL STUDY ON IRIDA PATIENT 7 YEARS OLD

THE MOST RECENT R&D OUTCOME...

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

FINANCIALS

THE GROUP

2024 FIRST HALF

(€ MILLION) ECONOMIC DATA	2024	%	2023	%	Change
REVENUES	57 0 ,	100 0% ,	50 2 ,	100 0% ,	13 4% ,
SALES REVENUES	56 1 ,	98 4% ,	49 6 ,	98 8% ,	13 0% ,
EBITDA	16 2 ,	4% 28 ,	14 1 ,	0% 28 ,	3% 15 ,
NET RESULT	8 9 ,	15 6% ,	7 2 ,	14 4% ,	23 0% ,
Share(Euro) Earning per	0 93 ,		0 75 ,		23 7% ,

(€ MILLION) BALANCE SHEET & EQUITY	2024	2023	Change
NET	59	57	2
INVESTED	3	0	3
CAPITAL	,	,	,
NET	(4	(2	(1
FINANCIAL	5)	6)	9)
POSITION	,	,	,
EQUITY	(54	(54	0
	8)	4)	4
	,	,	,

Solid organic growth in revenues and margins compared to 2023. In the second quarter of 2024, sales revenue and gross operating margin increased by approximately 36.3% and 127%, respectively, compared to the previous quarter.
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.
Temporary absorption of liquidity linked to the distribution of dividends, which led to a limited reduction in the net financial position.

QUARTER RESULTS VS PREVIOUS PERIOD

ECONOMICS OVER THE YEARS

€/1000	Net revenues	EBITDA	% EBITDA Margin	NET INCOME
2017	37	9	0%	6
	784	441	25	030
			,
2018	46	11	25	8
	673	840	4%	557
			,
2019	53	13	6%	8
	624	183	24	454
			,
2020	56	15	27	14
	449	556	6%	072
			,
2021	68	20	5%	13
	114	080	29	771
			,
2022	82	24	29	15
	724	359	4%	048
			,
2023	100	26	4%	12
	202	483	26	832
			,
2024 consensus	112 000	28 800	25 7% ,	17 200

2020 Net income includes a tax benefit of € 5m (Patent Box); 2022 and 2023 Net income are affected respectively by a tax accrual of € 1,4m and € 2,0m accounted with the aim of complying with the institution of the cooperative compliance

Ebitda 2023-2024 includes the cost related to the set up of the new projects (USA, Espana, Cetilar Nutrition and China) which determine a limited reduction of the Ebitda Margin

BALANCE SHEETS AND CASH FLOWS OVER THE YEARS

€/000 Amounts	2017	2018	2019	2020	2021	2022	2023

NET	5	8	6	9	5	9	10
WORKING	462	866	991	559	652	692	501
CAPITAL
TOTAL ASSETS	4 544	4 206	7 589	8 812	11 366	30 618	46 510
EQUITY	19	24	28	37	082	50	407
	098	442	140	730	45	948	54

NET	(9	(11	(13	(19	(28	(10	2
FINANCIAL	092)	370)	560)	359)	064)	638)	604
POSITION
FCFO	706	6	848	797	20	464	12
	5	436	11	11	408	17	090

In 2021 began the construction of the new head quarters which was completed in 2023. Total investment amounts to € 25m; Akern acquisition in 2022 (100% of the share capital);

Changes in NPF are related to the long term loans to finance Akern acquisition and the construction of the new headquarters; Steady cash generation from operating activities over the years