ASM Presentations and Business Update

Blis Technologies Limited: 81 Glasgow Street, South Dunedin 9012, PO Box 2208, Dunedin 9012, New Zealand
T:+64 3 474 0988 E: info@blis.co.nz W: www.blis.co.nz




26 July 2019

Annual Shareholder Meeting Presentations and Business Update
At its Annual Meeting of Shareholders Blis Technologies Limited (NZX: BLT) is providing an overview
of the Company’s performance during the 2019 financial year in which Blis achieved a maiden net
profit. Shareholders will also hear of the opportunities and strategic priorities the Board and
Management team are focused on delivering to in FY20 and beyond.
In his address to shareholders, Chair Tony Offen states “2019 was a milestone year for Blis. We
reported a maiden net profit, our products saw a significant increase in consumer demand and our
people and our growth pipeline are now well positioned to build on this momentum
Our revenues grew strongly across all of our territories, rising by 59% for the year to reach $8.4m.
This latest revenue achievement has seen us deliver compound average growth in revenue of 45%
over the past five years which we are very pleased with.”
In providing an updated on first quarter trading and FY20 guidance Chief Executive Brian Watson
states “We are forecasting sustained profitable growth in FY20 and an EBITDA similar to FY19 as we
grow the investment in building a pipeline of new revenue opportunities for the company and
identify partners capable of bringing increased scale to the business
“In line with this, we are pleased to share the financial year 2020 quarter one unaudited results. We
have made an excellent start to the year with first quarter revenue of $2.8m which is up 63% on the
same quarter last year with an EBITDA surplus for the quarter of $0.5m.
“This provides us with further confidence to continue our re-investment into growth and that we will
deliver another profitable growth year for 2020, with EBITDA expected to be in line with last year.
“There remains significant international growth potential for our products and we will continue to
pursue the Company’s profitable growth objective through developing our relations with partners
capable of resourcing international scale for the business.”
Copies of the Annual Meeting speeches and presentation are attached and available from the
investor section of the company website https://blis.co.nz/pages/nzx-announcements
.

Tony Offen Brian Watson
Chair Chief Executive Officer
Phone: 021 463 336 Phone: 027 705 9133
Ends

About Blis Technologies Ltd

Delivering proven health benefits through evidence-based, advanced probiotics
Blis is an NZX-listed manufacturer of advanced probiotic strains that go beyond the gut. Combining innovation
with evidence-based research and the highest quality production controls enables the delivery of probiotic
solutions for specific health targets including throat health, halitosis (bad breath), immune support and teeth and
gum health. BLIS products are sold throughout New Zealand and in Australia, Asia, Europe and the USA. More
information about Blis Technologies Ltd can be found at www.blis.co.nz.

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1

Annual Shareholder Meeting
Friday, 11am 26th July 2019
Edgar Centre, Dunedin.





Good morning, ladies and gentlemen.

I am Tony Offen, and I am the Chair of Blis Technologies Limited.

On behalf of my fellow directors, our chief executive, Mr Brian Watson and all the
Blis team, welcome to The Edgar Centre for our 2019 annual shareholder meeting.

On arriving today, you will have been greeted by staff of Link Market Services, our
share registrar, who are available to support you with the formal aspects of the
meeting.

Also here today are Heidi Rautjoki, the Audit Partner from Deloitte, our company’s
auditor and Anne McLeod, Partner Anderson Lloyd our company’s solicitor.

I can advise that the Notice of Meeting has been duly given to shareholders and
we have a quorum. I am pleased to declare the annual shareholder meeting of Blis
Technologies Limited open.

As you know, health and safety is a priority for Blis and in the unlikely event of an
emergency during the meeting we want to ensure everyone’s safety. If the building
needs to be evacuated for any reason, a long alarm will sound as a Siren with
voiced directions to evacuate at your nearest exit. Please follow the instructions of
the Edgar Centre staff, and they will point you to the nearest exit. Our assembly
area is directly opposite the main entrance doors on to the centre, staff will direct
you to this area once you exit the building.

Toilets are located on this floor landing and on the ground floor half way along the
main sports centre as well as in the arena, and please note that the Edgar Centre
is a non-smoking venue.
Slide 1: Chair – ASM welcome

2
And while I am on the topic of health and safety, I would like to briefly take this
opportunity to thank the team for their outstanding efforts recently when they
identified and swiftly dealt with a potential chemical incident. You may have heard
that on the 12
th
of July a staff member identified an issue with a small quantity of a
substance used infrequently within our research facilities.

I am very pleased to report that the action taken by staff, demonstrated the robust
procedures we have in place and we were extremely pleased with both the
exemplary actions taken and the outcome achieved.

And I would note that it was very pleasing to have these views echoed by Fire &
Emergency New Zealand as they confirmed that the risk mitigation steps in place
and actions taken by staff were entirely appropriate.






The agenda for this morning will include an overview from me of the company’s
performance for the year to 31 March 2019. Brian Watson, our CEO, will then
provide you with a deeper review of the results, progress against our objectives
and what shareholders should expect to see in the remainder of the current
financial year.

There will then be an opportunity for shareholders to ask questions.

Following this we will move to the formal business of the meeting. At that point I will
outline the process for the discussion and voting on the resolutions set out in the
agenda.
And of course, at the meeting’s conclusion, you are invited to join directors and the
Blis team for light refreshments and further discussions.











Slide 2: Chair - Agenda
Slide 4: Chair - Board
Slide 3: Chair – Chairperson’s address

3
Before reviewing the company’s performance, I would first like to introduce your
Board. Their profiles are available online on the governance page of the company’s
website and are also included within the annual report. You will have received the
Annual Report for the year ended 31 March 2019, either by post or electronically,
depending on your choice, and there are additional hard copies available in the
room here today if you would like one.

Graeme Boyd joined the board in 2014 and is deputy chair. Graeme sits on the
remuneration committee and has also served on the audit & risk committee.
Graeme understands brand value and brings strong experience in international
marketing, growth strategies and executive leadership. Graeme was CEO of
Comvita in 1998 leading the company from being small and privately-owned to a
publicly-listed company marketing natural health products internationally.

Geoff Plunket joined the board early in 2018 and is chair of the audit & risk
committee. Geoff brings a strong commercial focus and experience in leading a
large organisation with expertise in logistics, supply chain, human resource, health
& safety and risk management. Geoff had a long career with Port Otago Limited,
including as CFO culminating in his appointment as CEO from 2004 until his
retirement in 2017.

Veronica Aris joined the board in 2014 and is chair of the remuneration
committee. Veronica has over 20 years’ in senior marketing and sales roles that
span the innovation, primary care consumables, pharmaceuticals, natural health
care, consumer and safety product markets. Veronica, who was up for re-election
by rotation today, announced recently that she will be stepping down at the end of
this meeting. I would like to take the opportunity now to thank Veronica for her
contribution over her five years of service, and on behalf of us all, to wish her all
the best for the future.

Dr Barry Richardson joined the board in 2018 and sits on audit and risk
committee. Barry has a science background and brings both Blis specific and
international biotechnology and nutritional dairy industry experience to the board.
Barry was formerly CEO of Blis between 2007 – 2016 leading the company’s
transition from predominately research based to being commercially focused.

Dr Alison Stewart was invited to join the board in September 2018 following a
professional search process for specific capabilities. Alison brings to the board

4
substantial experience as an innovation and research leader who has a clear
understanding of the drivers for successful international commercialisation of
biotechnology lead research. Alison is currently CEO of the Foundation for Arable
Research and is standing for election today. The board recommends Alison’s
election and unanimously supports her election as a director today. We will have
the opportunity to hear from Alison a little later.

And in terms of myself, I have been a director and shareholder since 2009 and
chair since August 2017. I am currently on the audit and risk and remuneration
committees. Previously I have served as deputy chair and also for a short time as
an executive director for the company. Being eligible, I am also offering myself for
re-election today, so more on that later as well.

You will note, that with Veronica retiring, the number of directors reduces to five (5)
and the board is not seeking to fill this vacancy. The board has determined that
based on the company’s current size and stage of development that an optimal
number of directors is five, with the current director mix of skills and experience
being appropriate for governing Blis. Where required, we look to strengthen our
oversight of issues using expert advice.


That said, each year as part of the board’s annual review process the director
capability mix is assessed for alignment with the company’s future development
and international growth plan requirements. When the board’s succession planning
anticipates an upcoming vacancy to be filled or that further director capability is
required, professional search services are used to assist the board in identifying
suitable candidates for nomination, as was the case with the latest appointment of
Dr Alison Stewart.










It is my pleasure to present you with an overview of the company’s performance.


Slide 6: Chair – Results Overview
Slide 5: Chair – Disclaimer

5
Performance Overview.
2019 was a milestone year for Blis. We reported a maiden net profit, our products
saw a significant increase in consumer demand and our people and our growth
pipeline are now well positioned to build on this momentum.
Our revenues grew strongly across all of our territories, rising by 59% for the year
to reach $8.4m. This latest revenue achievement has seen us deliver compound
average growth in revenue of 45% over the past five years which we are very
pleased with.
This strong growth in revenue contributed to the company’s first net profit of $0.4m
and making 2019 a turning point for Blis in keeping with our goal of delivering
sustainable profitable growth.
Importantly for the company, the share of revenues from our Blis Probiotic branded
product range grew to 38% of overall sales, compared to 19% last year.
This is important because growing the Blis probiotics brand is a core strategic
positioning priority for us. Through increasing sales of BLIS PROBIOTICS
TM

branded products we are building and strengthening a direct relationship with our
customers. While the revenue we generate from our ingredient products continues
to underpin our business, growing the Blis branded portion of our sales will
underwrite the realisation of the strong long-term value inherent in the company.
Our customers and consumers are increasingly identifying directly with Blis as the
trusted source of quality products, thereby future-proofing our business.




We continue to make good progress against our four strategic priorities; Positioning
(as just highlighted), Supply Chain, Pipeline and People and Performance.
These priorities focus us on developing core expertise and knowledge internally as
we continue to innovate in order to optimise our Intellectual Property. We recognise
that a company does not outperform its people so building a high-performance
culture is core to ensuring we maintain the right internal capabilities and
relationships to support our growth goals.
There is no question that this year’s achievements - including the Company’s
maiden profit - underpin a turning point for Blis. The result is evidence of the
increased resilience of the business due to broader revenue mix, increasing
Slide 7: Chair – Strategic Priorities

6
revenue from BLIS® branded products, stronger regulatory positions, an improved
working capital base and development of robust internal capabilities.
We also recognise that long term, sustainable business success requires an
understanding of the interconnectedness of all parts of our business and the
impact we have on all our stakeholders, including our community and the
environment. We have started the continuous journey of evolving our sustainable
environmental, social and governance practices and look forward to reporting to
you in the future beyond the traditional financial measures.
There remains significant international growth potential for our products and we will
continue to re-invest for the future by growing markets, our pipeline and importantly
the Blis brand. We believe with our existing resourcing we can continue to meet
attractive revenue growth rates profitably by working with our existing distributors
and markets, and by actively targeting new relationships with key partners with the
right capabilities and resources we will benefit further from the increased reach
they would bring to our business.
Brian will cover the achievements and progress across these areas in his address
as well as the first quarter results for this year and the outlook for 2020.
On behalf of the board, management and all of the Blis team I would like to thank
you our shareholders for your continued support and ongoing interest in the
company.
Thank You.
I will now pass over the Brian for his address, after which there will be an
opportunity to ask questions before we then move to the formal part of the meeting.
Brian, over to you.

7







Thank you Tony.
On behalf of management team I would like to welcome the shareholders here
today and introduce the Blis leadership team. Detailed profiles of the team are
available online on the company’s governance page and have been included within
the annual report.

Richard Wingham is our Chief Financial Officer (CFO)
Richard has been with Blis for 18 months and he has quickly had a significant
impact on our reporting and analytics as well as contributing to broad leadership
within the company.
Dr John Hale is our Chief Technology Officer (CTO)
John has been with Blis since 2011 having studied under John Tagg then gained
experience offshore. John leads our R & D and scientific services group
progressing our development pipeline of new products.
Our Chief Marketing Officer (CMO) is Julie Curphey
Julie has headed up Marketing for Blis for the last 2 ½ years leading our drive to
grow the Blis branded portfolio, with our new market launches onto Amazon USA
and the more recent expanded launch in Australia.
As for myself, I’m proud to have been your Chief Executive since early 2016 and I
have been focused on ensuring the fundamentals right so we are positioned for the
growth opportunities in our future.



As Tony highlighted FY19 saw the company achieve a maiden net profit on the
back of strong revenue growth.
Slide 8 - CEO Address
d hh ld
Slide 9: CEO – Leadership team
Slide 10: CEO – Financial summary

8
Total revenue grew 59% over the previous year driven by growth across all
territories.
The benefits of increased scale combined with a continuing tight focus on costs
saw the company’s operating earnings before interest expense, tax, depreciation
and amortisation (EBITDA) rising to $0.9m compared to a loss of $0.4m in the
previous financial year.
Net profit for the year was $0.4m in line with our upgraded guidance provided April
2019.
Other financial highlights included an increase in working capital to $2.3 m up from
$1.5m in FY18, a 50% increase.





The company has made good progress across our strategic priorities of
Positioning, Supply chain, Pipeline and People and performance.
As Tony mentioned, under the Positioning priority we are targeting consistency of
value proposition and development of the BLIS PROBIOTICS™ brand as a means
of future proofing the business and developing a closer relationship with customers
and consumers.
Key progress in this area included the launch of the BLIS K12 range into the large
Australian Pharmacy channel and the launch of the BLIS range on the Amazon
US platform. Along with these new launches we have continued to grow our NZ
market with the BLIS branded range.
Our focus on Supply chain is to ensure the right quality, capacity and IP protection
throughout our entire supply chain – from ingredient supply through to the finished
product with our customer.
Key progress has included establishing a new contract manufacturer relationship
with GMP Pharmaceuticals to support the regulatory requirements and capacity
needs of the Australian launch.
We have also progressed our partnership with an offshore fermentation expert for
supply of the raw ingredient which will provide increasing capacity to meet the
growing demand for our products.
These initiatives are critical to achieving the scale needed to continue to grow the
business and capture the opportunities we are seeing.
Slide 11: CEO – Strategic priorities

9
Our ongoing focus on Pipeline is about optimising value from our Intellectual
Property, this activity ranges from early R & D activity to format innovation and
market preparation.
To help underwrite the ongoing investment in R & D we have secured a Callaghan
Innovation growth grant providing a 20% rebate on qualifying R & D investment
until March 2021.
Through our own initiatives and with our partners we have continued to improve
market access with K12 approvals in Russia, Belgium and M18 approvals in
Australia and Full GRAS approval in the US.
As Tony mentioned, our focus on People and Performance is ongoing and we
recognise this is at the core of our business. We are continuing to build a high-
performance culture, ensuring we have the right internal capability and processes
to support our growth goals.
To faciliate this we have established a values framework which has galvanised the
team. We’ve also added internal capability by hiring a E-commerce specialist to
further develop our on-line presence.





Looking at trading revenue in more detail we saw good growth across all regions.
In our home market, NZ, revenues grew impressively by 60% to reach $1.2m. Our
New Zealand retail presence has continued to strengthen through our relationship
with Radiant Health which was launched in March 2018. BLIS® branded products
are stocked on the shelves across the network of over 900 pharmacies with high
levels of support provided by our distribution partner, including promotional activity
that has extended our reach to medical professionals.
The rest of Asia Pacific revenue grew significantly, by 237% to reach $2.9m, driven
by the extended launch into the Australian market as well ingredient sales growth
in Japan.
The sales growth evident in our Asian market was also very pleasing. In particular,
strong sales growth into Japan has reinforced the potential of that market with new
opportunities now under development.
Our strategy for the China market has seen us broadening our focus from
establishing a China domestic presence, which continues to be challenging, to also
Slide 12: CEO – Regional performance

10
building a sales channel based on “cross border e-Commerce” (CBEC) and Daigou
sales which will be more actively targeted this financial year.
Europe/ Middle East/ Africa saw revenue growth of 5% to $3.0m in FY19.
Steady year on year growth in this important market continues to deliver a solid
return. Our distribution partner in Europe and the Middle East, Bluestone Pharma
continues to successfully implement a strategy focused on launching consistent
value propositions to health professionals ensuring a broad acceptance and
recognition within the medical community.
During the 2019 financial year our partner achieved new approvals for Russia and
Belgium and launched BLIS K12™ products to health care professionals in these
markets along with launches with new customers in Denmark, the Netherlands and
the UAE.
North American revenues grew by 45% to $1.2m in FY19 as we benefited from the
USA launch of BLIS® branded products on the Amazon platform which has
delivered steady growth since the launch in June 2018.
Our partner Stratum Nutrition has continued to expand the customer base through
new customer launches and across a range of channels including retail, direct
selling and on-line.
Following the recent GRAS “No objection” status of BLIS M18™ (achieved by BLIS
K12™ in 2016) we now have the potential to open new opportunities with larger
consumer food and supplement companies in the US and we are currently
exploring the options.




In line with our strategic priority we have seen significant growth in our Blis branded
finished product revenue.
The proportion of Product revenue generated by BLIS Branded finished goods has
grown from 19% in FY18 to 38% in FY19 and in dollar terms, from $1m to $3m .
This has been a strategic priority to ensure increased brand awareness, getting
closer to consumers to generate brand loyalty, ensuring consistency in the value
proposition and ensuring we get a higher proportion of the value chain.

Slide 13: CEO – BLIS branded finished products

11




The launch of the Company’s expanded product range into the Australian
pharmacy network took place from 1st of April this year.
Our products hit the Australian shelves with strong support from our exclusive
distribution partner in this market. iNova Pharmaceuticals has exceptional reach
into the Australian Pharmacy channel and a proven track record of establishing
category leading brands in consumer health care.
The launch included BLIS® branded products from the BLIS K12™ based range:
ThroatGuard™, ImmuneDefence™, HoneyBlis™, DailyDefence Junior™,
TravelProtect™ as well as a Difflam ® co-branded offer Difflam 1st Signs
Defence™ into the Australian pharmacy network. iNova has supported the launch
through a comprehensive consumer and trade marketing programme that
coincided with the build-up towards the busy winter season.
There has been widespread acceptance of the BLIS K12™ range by all key
Pharmacy Banner groups in Australia and the more recent approval of BLIS M18™
as an ingredient for "listed complementary medicines" in April 2019 will open the
way for launch planning of our BLIS M18™ dental product range into Australia with
iNova Pharmaceuticals.
Although it is still early days in the launch we are pleased with the presence of the
product range within the key pharmacy chains, in particular Chemist Warehouse
which is the dominant chain within the Australian pharmacy network.
Our relationship with iNova includes reviewing other maket opportunities across
Asia Pacific and Africa. An early evaluation priority is how we coordinate activity in
building Blis Branded product sales into the attractive China Cross Border e-
commerce channel from both NZ and Australia.




During this financial year and beyond we will continue our investment in our
pipeline ensuring we have a steady stream of innovation to support revenue growth
and strengthen our IP maintaing a strong market position.
Slide 14: CEO – Australia launch
Slide 15: CEO – Pipeline investment

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This investment includes development of new probiotics strains with our
development of a skin targeted strain already progressing well – and I’ll expand on
this a little later.
We will back this up with format innovation ensuring we meet customer and
consumer needs with. Notable developments include a proposition combining Oral
and Gut targeted probiotic strains which we belive will help us meet broader
consumer needs. We also have a focus on delivering innovation to meet dental
professionals needs within a clinic evironment.
Longer term R & D is focused on the market potential represented by pet health
and functional foods which today are not seen as core markets but respresent
exciting potential.
This endeavour will generate new IP positions including patents, trademarks and
trade secrets which are core to our ongoing value proposition.






Skin respresents an attractive target for our R & D pipeline.
There is a rapidly emerging market for probiotic technology targeting both cosmetic
and therapeutic opportunities. Global retail sales withinin the broad skin care
market are estimated to be $180 billion per year by 2024.
Blis innovation is focused on developing and commercialising BLIS Q24 a unique
patented strain of a species that naturally lives on the skin. BLIS Q24 has
advanced activity that represents exciting potential as both a cosmetic and
therapeutic solution.



Blis has made the strategic decision to focus on health targets where we believe
we can establish a leadership position.
Probiotic dietary supplements represent an attractive category that has continued
to grow rapidly highlighting the broad appeal and acceptance of probiotics globally.
With our specific health targets we compete within attractive categories including
Ear Nose and Throat health and Oral care.
Slide 16: CEO – Skin target
Slide 17: CEO – Leadership team

13
Our pipeline focus will allow us to target functional foods, pet health and skin care
in the future.



We are pleased to share the 2020 financial year quarter one unaudited results.
Total revenue was $2.8m up 63% on same quarter last year. With a EBITDA
surplus of $519 k. This has been a positive start to the year which supports
maintaing our full year guidance of sustained profitable growth in FY20 and an
EBITDA similar to FY19.
Importantly this profitable start to the year gives us the confidence to invest in new
markets and our pipeline.



There remains significant international growth potential for our products and we will
continue to pursue the Company’s profitable growth objective through developing
our relations with partners capable of resourcing international scale for the
business.
Key growth opportunities for the company in FY20 include:
Canada where we will target a distribution partnership to launch within the
Pharmacy channel.
China cross border e-commerce and Daigou markets.
Market expansion with iNova Pharmaceuticals.
Expansion of on-line sales.
To facilitate this growth we will be working with our existing distribution partners as
well as targeting new relationships with partners with the right capability and
resources to support our goals.
Thank you.

Slide 18: CEO – Outlook
Slide 19: CEO – Outlook continued

14



Thank you, Brian.

We now have an opportunity to take questions on the company’s financial
statements and reports for the year ended 31 March 2019, and the presentations
you have heard from Brian and myself.
I now invite questions from the floor and ask you to use the microphones offered.
Please indicate by raising your hand if you have a question and I will ask for a
microphone to be passed to you when there is an opportunity for you to speak.
Before asking your question, could you state your name and if you are a
shareholder, proxy holder or shareholder representative.
Thank you, ladies and gentlemen. I now move to the formal part of the meeting, the
resolutions. If you do not have a pen or a voting paper and would like one, please
raise your hand and Link Market Services will help you.


Director Election Resolutions

As the first resolution relates to my standing for re-election, Graeme Boyd, Deputy
Chair will put this director resolution to the meeting.

Graeme approaches the stand.


Ordinary Resolution 1 proposes:

That Tony Offen, who is eligible for election, be elected as a director of the
company. Tony has been nominated in accordance with the NZX Listing Rules and
the Company’s constitution.

The Board has determined Tony is standing as an independent, non-executive
director.

The Board recommends Tony to you as a director of Blis Technologies Limited and
unanimously supports his re-election.

I now invite Tony to address the meeting.
Slide 20: Questions

15
Is there any discussion on this resolution?
There appears to be no further discussion.
I now put to the vote the ordinary resolution: That Tony Offen, who is eligible for
election, be elected as a director of the company.
Please take a moment to mark your proxy voting form in relation to Resolution 1.


Tony returns to the Chair the meeting

Ordinary Resolution 2 proposes:

That Alison Stewart, who is eligible for election, be elected as a director of the
company. Alison has been nominated in accordance with the NZX Listing Rules
and the Company’s constitution.

The Board has determined Alison is standing as an independent, non-executive
director.

The Board recommends Alison to you as a director of Blis Technologies Limited
and unanimously supports her election.

I now invite Alison to address the meeting.
Is there any discussion on this resolution?
There appears to be no further discussion.
I now put to the vote the ordinary resolution: That Alison Stewart, who is eligible for
election, be elected as a director of the company.
Please take a moment to mark your proxy voting form in relation to Resolution 2.

Ordinary Resolution 3 proposes:
That the Directors be authorized to fix the remuneration of the auditors for the
ensuing year.
Is there any discussion on this resolution?
There appears to be no further discussion.
I now put to the vote the ordinary resolution: That the Directors be authorized to fix
the remuneration of the auditors for the ensuing year.

16
Please take a moment to mark your proxy voting form in rel ation to Resolution 3.

Special Resolution 4 proposes:
That the constitution of the Company be amended in the form and manner
described in the Explanatory Notes, with effect from the close of the meeting.
Is there any discussion on this resolution?
There appears to be no further discussion.
I now put to the vote the special resolution: That the constitution of the Company
be amended in the form and manner described in the Explanatory Notes, with
effect from the close of the meeting.
Please take a moment to mark your proxy voting form in rel ation to Special
Resolution 4.

Other Business
That brings us to any other business.
Is there any other business a shareholder wishes raise?

Close
That brings us to the end of the meeting, as mentioned earlier, you are all invited to
join us for further discussion and questions over some light refreshments.

Thank you all, I now declare the meeting closed.

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1
Annual Shareholder Meeting
26th July 2019

Meeting Agenda
2
Business of the Meeting:
Chairperson’s Address - Tony Offen
Chief Executive Officer’s Address - Brian Watson
Ordinary Resolutions
1. Re-election of Mr Anthony (Tony) Offen as a director
2. Election of Dr Alison Stewart as a director.
3. Re-appointment of Deloitte as Auditor
Special Resolution
4. Amendments to Constitution
Other Business

3
Chairperson’s Address
Anthony (Tony) Offen
Chair, independent non-executive director

4
Anthony
(Tony) Offen
Chair, independent
non-executive director
Graeme
Boyd
Deputy Chair,
independent
non-executive director
Geoffrey
Plunket
Chair of audit
committee,
independent
non-executive director
Dr Barry
Richardson
Independent
non-executive director
Dr Alison
Stewart
Independent
non-executive director
Veronica
Aris
Chair of remuneration
committee,
independent
non-executive director
Board of Directors

5
Information
The information in this presentation is an overview and does not contain
all information necessary to make an investment decision. It is intended to
constitute a summary of certain information relating to the performance
of Blis Technologies Limited (“Company” or “Blis”). The information in this
presentation is of a general nature and does not purport to be complete.
This presentation should be read in conjunction with the Company’s other
periodic and continuous disclosure announcements, which are available at
nzx.com.
Not financial product advice
This presentation is for information purposes only and is not financial or
investment advice or a recommendation to acquire Blis securities, and has
been prepared without taking into account the objectives, financial situation
or needs of individuals. The Company, its directors and employees do not
give or make any recommendation or opinion in relation to acquiring or
disposing of shares. In making an investment decision, investors must rely
on their own examination of the Company, including the merits and risks
involved. Investors should consult with their own legal, tax, business and/or
financial advisors in connection with any acquisition of securities.
Future performance
This presentation may contain certain ‘forward-looking statements’, for
example statements concerning the development and commercialisation of
Disclaimer
new products, regulatory approvals, customer adoption and results of future
clinical studies. Forward-looking statements can generally be identified
by the use of forward-looking words such as, ‘expect’, ‘anticipate’, ‘likely’,
‘intend’, ‘could’, ‘may’, ‘predict’, ‘plan’, ‘propose’, ‘will’, ‘believe’, ‘forecast’,
‘estimate’, ‘target’, ‘outlook’, ‘guidance’ and other similar expressions.
The forward-looking statements contained in this presentation are not
guarantees or predictions of future performance and involve known and
unknown risks and uncertainties and other factors, many of which are
beyond the control of the Company and may involve significant elements
of subjective judgement and assumptions as to future events which may
or may not be correct. There can be no assurance that actual outcomes
will not materially differ from these forward-looking statements. A number
of important factors could cause actual results or performance to differ
materially from the forward-looking statements. The forward-looking
statements are based on information available to the Company as at the
date of this presentation. Except as required by law or regulation (including
the NZX Main Board Listing Rules), the Company undertakes no obligation
to provide any additional or updated information whether as a result of new
information, future events or results or otherwise.
No representation
This presentation may contain information from third-parties believed to
be reliable, however, no representations or warranties are made as to the
accuracy or completeness of such information.

6
$0.4m
Maiden net profit
EBITDA
FY19 HighlightsRevenue Growth Trend
$0.9m
Growth in Total Revenue (5 Year compound
annual growth rate CAGR 45%)
59%
10
8
6
4
2
0
NZ$ MILLIONS
FY16FY15FY17FY18FY19
5 YEAR CAGR +45%
Results FY 2019

7
Value Proposition
1.
2.
3.
4.
Company vision
Delivering health benefits to global
consumers by unlocking the potential
of the microbiome.
Value proposition
Blis Technologies is a leader in the
manufacture of advanced probiotic
strains that go beyond the gut. We
combine innovation with a strong
evidence base and the highest quality
controls to deliver probiotic solutions
for specific health targets.
Pipeline
People &
Performance
Positioning
Supply
Chain
Positioning – consistency of value
proposition and development of the
BLIS PROBIOTICS™ brand
Supply chain – ensuring quality, capacity
and IP protection within our supply chain
Pipeline – optimising value from our IP
People and Performance – building
internal capability and a high-
performance culture
Our strategic priorities

8
CEO’s Address
Brian Watson
Chief Executive Officer (CEO)
BCom (Marketing), BPhEd

9
Leadership Team
Julie
Curphey
Chief Marketing Officer (CMO)
MBA, BCApSc (Food Science)
Dr John
Hale
Chief Technology Officer (CTO)
PhD
Richard
Wingham
Chief Financial Officer (CFO)
CA, BCom (Accounting)
Brian
Watson
Chief Executive Officer (CEO)
BCom (Marketing), BPhEd

10
Key Points
→59% total revenue growth
→$0.9m EBITDA surplus
→$0.4m maiden profit
→Working capital $2.3m - 50% increase
FY19 Financial Summary
FY19 FY18 Change
$000 $000 $000
Total Revenue 8,406 5,288 3,118
EBITDA 896 (422) 1,318
Net Surplus / (Deficit) 381 (1,042) 1,423

11
Strategic Priorities
1. Positioning – consistency of value proposition and
development of the BLIS PROBIOTICS™ brand
Launched BLIS K12™ range into Australian Pharmacy channel with partner iNova . . . . . . . . . . . . . . . . . .✓
Launched full BLIS® Branded range on Amazon US platform . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .✓
Continued to grow NZ retail and medical professional market through Radiant Health partnership . . .✓
2. Supply chain – ensuring quality, capacity and IP protection
within our supply chain
Established new contract manufacturer relationship with GMP Pharmaceuticals . . . . . . . . . . . . . . . . . . .✓
Established new relationship for future offshore raw ingredient manufacture . . . . . . . . . . . . . . . .ongoing
3. Pipeline – optimising value from our IP
Approval of a Growth Grant from Callaghan Innovation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .✓
Regulatory approvals BLIS K12™: Russia, Belgium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .✓
Regulatory approvals M18: Australia TGA Listed complementary medicine, US FDA GRAS . . . . . . . . . . . .✓
4. People and Performance – building internal capability and a
high-performance culture
Established a staff values framework . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .✓
Recruited an e-Commerce specialist (start date April 2019) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .✓
Pipeline
People &
Performance
Positioning
Supply
Chain

12
FY19 Regional Sales Performance
$1.2M
+45%
North America
$3.0M
+5%
Europe
$2.9M
+237%
Asia Pacific
(excl. NZ)
$1.2M
+60%
New Zealand

13
Branded finished products
– a significant driver of growth
FY18
Product
Revenue
$5.2M
FY19
Product
Revenue
$8.1M
IngredientsIngredients
19%
38%
81%62%
Branded goodsBranded goods

14
Branded product range:
Australia launch
Distribution partner
Early banner group acceptance
Plans underway
for launch of the
dental range

15
New strains
→BLIS Q24 – skin target
→Strain library screening
Novel product formats
→Oral plus gut strain combination
→Innovative dental professional offer
Future potential
→Pet health
→Functional food
Growing IP portfolio
→Patents
→Trade marks
→Trade secrets
Dice-D20
Flask-potion
globe
Head-side-brain
Pipeline Investment

16
BLIS innovation:
→Unique patented strain BLIS Q24
→Advanced probiotic activity
→Solid progress in overcoming formulation challenges
→Both cosmetic and therapeutic potential – phased
development
Emerging market – Cosmetics and therapeutics
Skin Target
$180B
Global skincare
market value by
2024
1
1
Statista.com

17
Current and Future Addressable Markets
Blis’s current formulation range
focuses on the following markets
→Global Vitamins and Dietary
Suppliments Market
→Ear, Nose and Throat (ENT)
→Oral Care
Probiotics represent an attractive
supplements category
Global Probiotic Supplements Retail Value 2013–2018
Blis is actively developing applications
for the following new markets
→Global Fortified and Functional Foods
→Global Pet Food
→Super Premium Beauty and Personal Care
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2013
US$ MILLIONS
20152014201620172018
+4 .5%+0.2%
+10.3%
+9 .1%
+8 .9%
2018 sales surpassed US$5.6 billion

18
Outlook
“We are forecasting sustained profitable growth in FY20 and an
EBITDA similar to FY19 as we grow the investment in building a pipeline
of new revenue opportunities for the company and identify partners
capable of bringing increased scale to the business”
Q1 FY20 update (unaudited)
→Total Revenue of $2.8M, 63% Growth (compared to Q1 FY19)
→EBITDA $0.5M

19
Outlook continued
Pipeline Investment
New market focus and investment
→China cross border e-Commerce, Daigou market
→Accelerate Canada market evaluation and planning
→Increase sales of dental products
→Progress plans with iNova for selected new markets
→Leverage existing new market opportunities including:
— iNova launch in Australia
— Amazon USA platform
Ongoing R & D investment
→New finished product innovation
→New probiotic strain development

Thank you