AFT Pharmaceuticals : FY22 Results Presentation

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INVESTOR PRESENTATION

RESULTS FOR THE YEAR TO 31 MARCH 2023

22 MAY 2023

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Important Notice

This presentation has been prepared by AFT Pharmaceuticals Limited ("AFT"), to provide a general overview of the performance of AFT for the year to 31 March 2023. It is not prepared for any other purpose and must not be provided to any person other than the intended recipient.

This presentation should be read in conjunction with AFT's interim financial statements, market releases and other periodic and continuous disclosure announcements, which are available at www.nzx.com and www.asx.com.au.

All amounts are disclosed in New Zealand dollars (NZ$) unless otherwise indicated.

All references to financial years appearing in this presentation are for the period ending 31 March, unless otherwise indicated. This presentation is not a recommendation, offer or invitation to acquire AFT's securities or other form of financial advice or disclosure document.

While reasonable care has been taken in compiling this presentation, none of AFT nor its subsidiaries, directors, employees, agents or advisers (to the maximum extent permitted by law) gives any warranty or representation (express or implied) of the accuracy, completeness or reliability of the information contained in it nor takes any responsibility for it.

The information in this presentation has not been and will not be independently verified or audited. This presentation may contain certain forward-looking statements and comments about future events, including with respect to the financial condition, results, operations and business of AFT.

These statements are based on management's current expectations, which may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct, and the actual events or results may differ materially and adversely from these statements. Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon (and is not) an indication of future performance.

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AFT Declares Maiden Dividend; Record Revenue

• Operating revenue grew 20% to $157 million lifted by organic growth, the launch of 22 new products in Australasia and continued international expansion.
• Operating profits, excluding licensing income, grew 38% to $18.8 million, despite $8 million investment in new Australian sales force and new global distribution capabilities. Operating profit including licensing income of $19.7 million down 3.5%

• Maiden dividend of 1.1 cents per share.

Australasia: 150+ products across seven therapeutic areas distribution via 7,700 pharmacies.

Asia: A broad range of products sold through licensees and distribution partners.

Rest of the World: AFT developed IP commercialised in 61 countries (including ANZ) and agreements in more than 100 territories.

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FT TOTAL OPERATING REVENUE

	$180													14.5%
													CAGR	$157
	$160
	$140																	$130
MILLION	$120																	$113
$100																	$106
													$81	$85
	$80
NZ$								$64	$69
$60	$40	$49	$56
	$40
	$20

$0

FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23

AFT OPERATING PROFIT

	$25
	$20										$6.7	$0.9
	$15
MILLION	$10					$3.8				$2.1	$13.7	$18.8
$1.6		$1.1	$4.9
		$7.6
	$5				$1.2		$8.6
NZ$	$0
-$5	-$16.4	-$11.2
	-$10
	-$15
	-$20	FY 17	FY 18	FY 19	FY 20				FY 21	FY 22	FY 23
				Operating Profit (ex Lic income)			License Income

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FY2023 growth strong across all territories and channels

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• Revenue grew in all regions with the core Australasian business making the largest contribution to growth ($26.3 million )
• International revenue (ex-licensing income) by 71% to $10.8 million; licensing income of $0.9 million vs $6.7 million in FY22
• Growth led by the OTC channel with the pain segment (Maxigesic dose forms) driving growth in all markets

use	OPERATING REVENUE BY REGION
	$100							$94.1
		$90
								$76.7
		$80
	Million	$70
	$60
ersonal	$50						$44.0
NZ$	$40						$35.1
	$30
		$20	$5.5 $6.8	$13.1$11.7
		$10
		$0
		Asia	Rest of world	New Zealand	Australia
						FY 22		FY 23

REVENUE BY REGION

4%	7%	FY23
10%
4%	28%
	27%

FY22

59%

60%

New Zealand

Australia

Asia

Rest of world

REVENUE BY CHANNEL

FY 23

23%

27%

FY 22

58%

15%

15%

61%

OTC Prescription Hospital

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Australia: Sales Accelerating Underpinned By New Product Launches

• Sales in Australia rise 22.8% to $94.1 million from $76.7 million in FY22
• OTC channel the standout performer, up 29.7% to $61.2 million, with growth led by the pain segment, including the successful launch of the hot-drink sachet; investment of $8 million in new GP focused sales force delivering early results
• Hospital channel rises 14% lifted by growth in injectables

AUSTRALIAN OPERATING REVENUE						AUSTRALIA REVENUE BY CHANNEL
	$100						$94.1
	$90									25.4%	FY 23
					$76.7
	$80
				$68.3						27.3%
	$70
			$61.4
Million	$60
$49.2	$50.3									FY 22
$50
NZ$									9.6%	11.2%	61.5%
$40
								65.0%
	$30
	$20
	$10
	$0										OTC Prescription Hospital
	FY 18	FY 19	FY 20	FY 21	FY 22	FY 23
											5
							AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH