Hi Clayton, The Bubs social media team have passed on your email...

Hi Clayton, The Bubs social media team have passed on your email address to me as I believe you have some questions or feedback on Bubs. I’m not sure I have been sent the full thread of your message but will make some general comments in response. The Bubs management team are very focused on increasing profits and delivering value for shareholders. Entry into the US market is a big part of that strategy. In terms of profits recorded at 30 June 2022 it is worth noting that only two of the six plane loads of formula were captured as revenue in the financial year to 30 June. The other four will be included in the first quarter FY23 revenue. Bubs have increased the profit margin across the group and the margin for infant formula is now 40% and infant formula will be the major driver of FY23 growth revenue. If you have any specific questions please feel free to contact me. Thank you for taking the time to message us, investor feedback is highly valued. Kind regards, Bubs Australia Investor Relations RepresentativeDeanne Curry | ConsultantM: +61 414 388 997 E: [email protected] 21, 6 O’Connell Street, Sydney NSW 2000