Ann: FY22 Q2 - Activity Report and Appendix 4C Cashflow Statement, page-3

Q2 FY22 QUARTERLY ACTIVITIES REPORT AND APPENDIX 4C CASHFLOW STATEMENT
SUSTAINED GROWTHWITH RECORD GROSS REVENUE AND POSITIVE CASHFLOW
•Record quarterly gross revenue¹of $19.9m,up 56% pcpand up 8%QoQ.
•Record1Hgroupgrossrevenue¹of $38.5m, up73% pcp and up 57% HoH.
•Bubs®Infant Formula gross revenue¹up 83% across all markets pcp and up 13% QoQ.
•Strongrevenue growth was achieved across keybusiness segments;
-Gross revenue¹ofbrandedproducts in domestic retailers was up9% pcp and up17% QoQ.
-China gross revenue²wasup 121% pcp and up 21% QoQ.
-International(ex-China)gross revenue¹forBubs®productswas up66%pcpand up 141% QoQ.
•Bubs Australiaremainsthe fastest growinginfantformula manufacturer³acrossWoolworths,
Coles and Chemist Warehouse withacombined 31%scan salesincreasepcp³and a record 3.9%
market share ofthetotal infant formula category⁴.
•Highgrowth momentum intheCorporateDaigou Channel, up 196% pcp and up 17% QoQ, driven
by Bubs®Infant Formula sales up 272% pcp-with demand now exceeding pre-pandemic levels.
•Strong growth in China CBECwithBubs®sales up 48% pcp and CapriLac® sales up 65% pcp.
•USA eCommerce sales nowliveonleading retail platforms;Walmart, Amazon and Thrive.
•Positive cashflow for 2ndconsecutive quarter and robust balance sheet with $30.6 million in cash
reserves as at 31 Dec 2021, versus $28.3 million in prior quarter (+$2.3m).

Excellent results, would like to see some positive share price movement on these numbers..