Ann: ANO Investor Presentation Update, page-139

Sharing some findings here. Feel free to correct me if my findings is wrong.

A. ZnO and TiO VS the rest

Below is the link for recent FDA sunscreen product ingredients rules changes proposal.

https://www.fda.gov/downloads/Drugs/ResourcesForYou/Consumers/BuyingUsingMedicineSafely/UnderstandingOver-the-CounterMedicines/UCM631738.pdf

GRASE= Generally Recognized as Safe and Effective
Zinc oxide and titanium dioxide

Not GRASE** for use in sunscreens
Aminobenzoic acid (PABA) and trolamine salicylate

***Insufficient data for use in sunscreens
Cinoxate, dioxybenzone, ensulizole, homosalate, meradimate, octinoxate, octisalate, octocrylene, padimate O, sulisobenzone, oxybenzone, avobenzone

14 out of 16 ingredients propose ban rules by FDA. Left only Zinc Oxide and Titanium Dioxide.


B. ZnO VS TiO
We know ZnO has better properties for UVA 1 and UVA 2.

https://www.acne.org/whats-the-difference-between-uva-and-uvb-rays.html

Scroll down to look for the sunscreen effectiveness chart.

So, ZnO provide much better UV protection than TiO.

C. Which product can increase capacity fast, with low capex and havingthe manufacturing process advantage?

1. ZinClear
2. Z-COTE
3. Zano (my understanding is this is previously from ANO as well)

Or maybe another one more option

1. Zinxation?

3 out of 4 originated from ANO.

Finally, you can see the company that will benefit the most clearly. With the FDA rules, the demand for of ZnO as sunscreen ingredient will grow multiple times, i estimate it should be much larger opportunity than Europe market that could be available to ANO.

Good luck to us and hang tight, this is once in a life time regulation wave. Put your sunscreen on that last for years and ride the waves.

Cheers!

TK