Probiotec : Presentation - Multipack LJM Acquisition

Disclaimer

This presentation is provided for general information purposes only. The information contained in this presentation is not intended to be relied upon as advice to investors and does not take into account the investment objectives, financial situation or needs of any particular investor. Investors should assess their own individual financial circumstances and consider talking to a financial adviser or consultant before making any investment decision.

This presentation is not a prospectus, investment statement or disclosure document, or an offer of shares for subscription, or sale, in any jurisdiction.

Certain statements in this presentation constitute forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements.

While all reasonable care has been taken in relation to the preparation of this presentation, none of the Company, its subsidiaries, or their respective directors, officers, employees, contractors or agents accepts responsibility for any loss or damage resulting from the use of or reliance on this presentation by any person.

Past performance is not indicative of future performance and no guarantee of future returns is implied or given. Some of the information in this presentation is based on unaudited financial data which may be subject to change. All values are expressed in Australian Dollars unless otherwise stated.

2

Executive Summary

Probiotec is pleased to announce it has agreed to acquire Multipack-LJM, a strategic acquisition in our value chain that is expected to be highly accretive for shareholders

1. EPS accretion calculation excludes the impact of deferred consideration and earn-out payments, which remains subject to the future performance of Multipack-LJM. Deferred consideration may be paid in cash or Probiotec shares (at Probiotec's election). See slide 5 for further information
2. Excludes deferred consideration, which remains subject to the future performance of the business and may be paid in cash or scrip at Probiotec's election

Investment Highlights

The Multipack-LJM acquisition represents a highly attractive transaction with a strong commercial rationale and compelling financial metrics

• Creates Australia's leading contract packing business with the scale and capabilities to service the broad requirements of global customers across our Melbourne and Sydney footprint
• Overlap in pharmaceutical and consumer healthcare customer base provides organic revenue opportunity while new customers and capabilities expand our opportunity set
• Multipack-LJM'sfounders will join Probiotec's management team, broadening our executive team and enabling us to fully leverage our capabilities across a larger platform
• High return on capital operations with strong cashflow generation to drive returns for shareholders
• Ability to consolidate asset footprint to deliver significant overhead savings over 2-3 years
• Attractive transaction structure reduces financial risk for shareholders, with high levels of vendor alignment
• Strong financial metrics, with significant financial accretion while maintaining an appropriate level of gearing