United Kingdom & EU New Growth Markets, page-4

Here is a possible scenario of growth

• 30 June 2024 they hit/exceed $13 million in sales which is predominantly Australia

I have lowered the Australian growth rates below to be a bit conservative

FY 24/25

• Grow Australia 13 mill by say 50% (below current growth rate) to $20 mill
• Traction in UK and total sales to say $5 million
• Other new market sales allocate say $1 mill

Year End Position say $26 million sales

FY25/26

• Grow Australia $20 mill by say 40% to $28 million
• UK Sales grow 100% to $10 million
• Other new markets sales grow to $3 million

Year End Position say $41 million

FY26/27

• Grow Australia by 35% to say $38 million
• Grow UK by say 70% to $17 million
• Other new markets say $5 million

Year End Position $60 million

So in above scenario in 36 months or so from now they would be selling $60 million which at 59% margin they would be seeing $36 million - not bad !!!!!

The growth pathway/rate has been proven in last 36 month in Australia so there is no reason same cant be replicated in the UK and then broader Europe and other markets (not even contemplating what might happen to sales if Chinese people start buying in bulk to ship back to China to family and friends back aka the Blackmore/baby formula experiences)

Sure they need to deliver on it all but a very exciting journey ahead IMHO

Good luck to all holders