Ann: BUBS USA Growth Accelerates, page-2

KEY HIGHLIGHTS

• Bubs is experiencing strong growth and accelerating consumer demand in the USA despite recent stock shortages.

• Record weekly USA revenue of over $770k in November 2023

• USA full year FY24 net revenue is forecast to be at least $48m, up 100% on

  FY23

• Bubs® is the #1 infant formula goat milk in the U.S, with over 330,000 tins sold financial year to date by the end of November 20231 compared to 400,000 in full year FY23

• Bubs® ranged in over 5,900 stores across the USA •

The American Academy of Pediatrics (AAP) has now officially expanded its infant

Bubs Australia Limited
ACN 060 094 742
23-29 Nina Link, Dandenong South VIC 3175 Australia

1800 2827 2878 (1800 BUBS AUST) [email protected]

11 December 2023

formula recommendations to include goat milk-based products.2

https://www.forbes.com/sites/ninashapiro/2023/12/01/pediatricians-are-now-

recommending-goat-milk-formula-for-infants/?sh=167751d8d070