Rua Bioscience ASM Presentation and Speeches

PO Box 1387, Gisborne 4040, Aotearoa New Zealand | 0800 RUABIO | www.ruabio.com




FOR PUBLIC RELEASE
NZX Limited
Wellington

Wednesday 12 October, 2022

Presentation Slides and Commentary Available for Rua Bioscience Ltd Annual Shareholder
Meeting

The attached ‘Presentation Slides’ and ‘Chairman’s and Managing Director’s Commentary’ will be
presented at the Rua Bioscience Annual Shareholders Meeting.

The meeting will be a hybrid meeting held at 10:00am (New Zealand time) on 12 October 2022 at
Waikanae Surf Club, 280E Grey Street, Awapuni, Gisborne and online via Computershare Investor
Services Limited’s (Computershare) meeting platform https://meetnow.global/nz.


ENDS

For more information, please visit www.ruabio.com or contact:
Media
Kerry Donovan
Communications Manager
+64 (21) 128 7689
kerry.donovan@ruabio.com

Investors
Hamish White

Chief Financial Officer

+64 (21) 050 5795
Hamish.white@ruabio.com




Chairman’s and Managing Director’s Commentary

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Rua Bioscience Ltd (NZX: RUA)
Annual Shareholder Meeting
10:00am, 12 October 2022


CHAIRMAN'S COMMENTARY

Tēnā koutou ladies and gentlemen, my name is Trevor Burt chair of Rua Bioscience. Welcome to our Annual

Shareholders Meeting. Thank you for joining us. It’s a pleasure and a privilege to be here to deliver an update on
our operations over FY 2022 and to provide some insight into what the future holds for us at Rua Bio.


Board of Directors – Leadership to Grow Rua (slide 7- 8)

Before we get into our formal agenda, I’d like to take a few moments to introduce the Board and recognize the
contribution of two people who have been key to our journey so far.
Supporting Rua is a very capable Board of Directors who possess a wealth of domestic and international
expertise:
• Panapa Ehau was appointed to the Board in October 2017.
• Brett Gamble was appointed in December 2019. Brett retires by rotation and seeks reappointment
today.
• Anna Stove was appointed in May 2019 and, in FY23, agreed to take on the role of Managing Director.
• Martin Smith was appointed to the Board in November 2018.

Martin retires today and formally leaves us at the close of this meeting. Martin has made a significant
contribution to the company during his five-year tenure. Martin joined the Board when the business was at the
conceptual stage and quickly became be a key part of the governance team. Martin guided the business
through to our NZX listing and has played a big part in getting us export ready.

I’d like to take this opportunity to thank Martin for all his hard work and wish him all the best for the future.
Martin Smith’s retirement is consistent with Rua’s succession plan and our intention to supplement the Board’s
skill base as the company nears export market entry with its first products. To that end, in July 22, we announced
the appointment of Teresa Ciprian.

Teresa has an exceptional background in commercialisation, innovation, marketing and business development in
the primary sector, specifically with dairy products, functional beverages and other foods on the global stage.
Teresa has a track record of helping develop highly capable leaders, strong brands, accumulating IP and seeing
organisations flourish through continuous improvement.

Teresa was appointed as an Independent Non Executive Director effective 1 August 2022 and seeks re-election
today.

Finally, in June, we welcomed Bronson Marshall as an observer on the Rua Board, as part of the OnBoard NZ
programme. Bronson is the Māori Sector Driver at KPMG New Zealand, was raised in Gisborne and has
whakapapa to Ruatorea, so brings both personal and professional purpose to his role here. A qualified
accountant, Bronson has previously worked for AuditNZ, Spark and GSMA in London. We’re really pleased to be
part of Bronson’s governance journey and to be able to support the advancement of Board diversity in Aotearoa.


Leadership Changes (slides 9)

In July, Rob Mitchell announced his retirement. Since his appointment as CEO in February 2020, Rob has built a
world-class team, leading them through significant milestones and developing new strategic partnerships.
Under Rob’s leadership, Rua launched on the NZX, gained GMP certification, launched our first product in New
Zealand, and developed new global market opportunities. The Board would like to thank Rob for his leadership
Chairman’s and Managing Director’s Commentary

and continued commitment to the vision of Rua’s Co-founders, keeping kaupapa and community at the heart of
the business.

While the Board looks to appoint a new Chief Executive Officer, Rua Director Anna Stove will lead the business
as Managing Director. Her leadership and expertise in the pharmaceutical sector and deep knowledge of the
company will enable Rua to maintain momentum.


Co-founder Refocuses (slide 10)

In September, Rua Bioscience announced the departure of co-founder and former CEO, Manu Caddie. This was
in line with a managed succession plan, as Manu looked to develop opportunities in other areas.

A true entrepreneur with a passion for social enterprise, Manu leaves Rua to follow new projects focused on the
development of high value extracts from native plants and fungi. These are projects that Manu has been
developing in parallel with his part time role at Rua over the past two years.

Rua will continue a relationship with Manu through some of these projects. We’re extremely proud to be part of a
much larger legacy that he is building and wish him the very best on his new endeavours.


Our Strategy – Focus and Objectives (slide 13)

Let me start with our strategy, which is unchanged. We continue to focus on our four key strategic areas:
• Creating unique product and plant IP
• Developing new products and markets
• Optimising cultivation and processing, and
• Developing our people

FY22 was our most satisfying and challenging year yet. To ensure a pathway to sustainable revenue, Rua started
the year with three key objectives:
• To build a clearer view of the regulatory environment
• To secure product supply at scale
• To further develop key markets

While there is no doubt we have experienced delays and that our commercial milestones are not as advanced as
we had expected, our team made excellent progress on all key indicators.


Achievements at a Glance (slide 14)

We progressed our commitment to New Zealand prescribers and patients, and our shareholders by recieving
Good Manufacturing Practice (GMP) certification from Medsafe and subsequent verification that our first
medicinal cannabis product meets Medsafe’s quality standards. These were the neccessary regulatory
steppingstones for the April launch our first medicine in New Zealand.

We welcomed the East Coast Cannabis Company as our first local cultivation partner.

We also significantly advanced our export strategy:
• Shareholders overwhelmingly approved the purchase of Zalm Therapeutics and its supply contract for
GMP-grade medicinal cannabis with Australian producer Cann Group, and
• We received our narcotic license through Nimbus Health GmbH (Nimbus) for the distribution and
marketing of our first product for the German medicinal cannabis market.


Volatility in the NZ Market (slide 15)

Despite of all those achievements a key challenge has been our share price, as you can see from this chart.
We’re pre-revenue, we have a small market cap, and receive no coverage from analysts. We are subject to the
volatility of the market and as such, our share price decline roughly reflects that of the overall share market
which you can see in blue. However, I believe that we have performed adequately compared to our peers as you
can see from the red line, which is Rua.

We reported some very positive news last week, which has had a positive impact on our share price and isn’t
reflected in the graph. We know shareholders, investors and analysts are waiting to see us meet our goals and
further demonstrate a clear path to revenue. If we continue our current trajectory, which we intend to do, one
would expect to see our share price improve.
We appreciate your support and perseverance while we work to deliver on that promise. To talk about that
further is Managing Director, Anna Stove.



MANAGING DIRECTOR’S COMMENTARY

FY22 Overview (slide 17)
In the past year, Rua has been focused on preparing for market entry – securing partners and developing the
frameworks and strategies that will give the company the best chance of success both in New Zealand and
globally.
• Rua launched our first product for NZ patients as a prescription only medicine in April 2022 & we have
already gained 5% market share
• We are focusing on the developing European medicinal cannabis market, which is estimated to be
worth €2.3b by 2026.
• In addition to Germany, there are a number of other European countries where Rua is looking to
expand. Recently Rua signed an agreement with European medicinal cannabis distributor, Motagon, to
become its preferred Australia/NZ supplier of medicinal cannabis products.
• We have exported our first seeds to Australia.
• We have formally received our first order of flower for Germany, so we are on track to have our first
export products available for German patients early 2023.


Rua’s Operational Priorities (slide 18)

In FY22, we focused on four key operational priorities:
1. Leveraging our Cann cultivation and processing facility to launch products to Germany.
2. Further developing the European market.
3. Successfully manufacturing CBD100 in Gisborne, launching our first product & increasing our market
share in NZ.
4. We are continuing to discover interesting new, illicit varieties at Ruatorea - ultimately growing chosen
varieties at scale in Australia.
I will talk about each of these priorities in more detail in the coming slides.


Leveraging our Cann Group Production Capacity to Service Global Markets (slide 19)

In January 2022, we received overwhelming shareholder approval to secure the company Zalm. This acquisition
provides us with a long-term supply contract for GMP-grade medicinal cannabis through Cann Group, ultimately
using our unique cultivars.

Cann’s new AUD $120m cultivation and processing facility at Mildura is considered one of the largest and most
advanced in Australasia. The first stage of its construction is complete and is capable of producing 12,500kgs of
dried cannabis flower per year. When complete, capacity at the 13.5-hectare facility will grow up to 70,000
kilograms.

Just last week, Cann announced that the GMP manufacturing licence for this facility has been extended to cover
the manufacture and release of finished dried flower products for patient use. Rua will leverage this to deliver a
range of medicinal cannabis products to multiple export markets.

We believe that combining speed to market with long-term preferential access to substantial volumes of very
competitively priced product will allow Rua to build a meaningful market presence faster and with a greater
economy of scale. We view this is a major competitive advantage as new markets are established.

Rua Significantly Advances German Market Entry (slide 20)

We have just received our first order from German distributor, Nimbus Health marking a significant commercial
milestone & signifying just how close we are to cementing export revenues and providing German patients with a
sustainable supply of Rua medicines.

The order is for Rua’s high THC flower, which has been developed through an extensive R&D programme by
Cann Group.

In Germany, 70% of medicinal dried-cannabis flower is prescribed to patients with pain. Flower with a THC
content of greater than 20% makes up 77% of those prescriptions. At its launch, we believe Rua’s flower will be
one of the highest THC dried flower medicines on the market, which will give Rua a significant competitive
advantage.

Rua has been working with Nimbus since 2020 and anticipates exporting this order by year’s end. Rua’s
commercial team is now working with them on the company’s launch into Germany.


Advancing our Export Strategy (slide 21)

From its outset, Rua has understood that it must go global to support local and has had its eye on the
developing European medicinal cannabis market.

Rua recently signed five-year manufacturing and supply agreement with European medicinal cannabis
distributor Motagon. This gives us the first opportunity to supply the European distributor with a full portfolio of
medicines, including dried cannabis flower and full spectrum oils. Beyond Germany, we are in discussions in
markets including Poland, Czech Republic, and the United Kingdom.

Of course, while Rua looks to global markets, the company remains committed to its connection to Te Tairāwhiti.
The kaupapa to give back to the community will always be part of our DNA and entering global markets will
secure meaningful revenue so we can continue prioritising sustainable economic development in the Ruatorea
and East Coast communities.


Entering the NZ Market (slide 22-23)

The launch of Rua’s first medicine in New Zealand was a milestone for patients, prescribers and the medicinal
cannabis industry. This medicine is an important first step for the company and the community for which it was
created.

Rua is one of just two companies in New Zealand locally manufacturing medicinal cannabis that meets the
minimum quality standards as set out by the Medicinal Cannabis Agency. Available on prescription, medical
practitioners are now able to include Rua’s medicine in patient treatment plans.

The product launch was complemented by the launch of our free compassionate access programme. Consistent
with our kaupapa, the programme is a meaningful way of enabling prescribers to supply medicinal cannabis to
those in need of it in our community.

The New Zealand Market is one that we’ve been committed to, given the heightened demand for medicinal
cannabis products.

Reliable data on the use of medicinal cannabis in Aotearoa is limited. However, data released by the Ministry of
Health under the Official Information Act shows that the number of packs supplied in New Zealand in the year to
30 June 2022 was over 43,000 units; compared to just over 2,000 in 2018.

New Zealand prescribers are increasingly engaged and curious as they better understand the role cannabinoids
can play in conventional medicine. While not always considered a first-line treatment, practitioners are
increasingly willing to trial medicinal cannabis where patients are not responding to standard treatments.
Rua’s medicine was launched in late April this year and has gained nearly 5% market share in six months. This
is a fantastic outcome, especially in due to NZ regulations where we can't market or advertise this product.
I used to head up a large pharmaceutical company in NZ & I can assure you that this first six months is a terrific
outcome.

Ruatorea – Our Home of genetic Innovation (slide 19)

Rua’s cultivation centre of excellence at Ruatorea continues to drive world-class R&D and unique cultivar
development.

Our R&D facilities include six growing rooms with specialist seed production capability as well as an outdoor
research growing facility. Rua’s indoor cultivation team have continued to establish the unique varieties which
Rua will be able to grow at scale in Cann’s GMP-certified facility in Mildura.

Additionally, our new cultivation partner the East Coast Cannabis Company expanded and led our outdoor trial
programme.


Rua recently Exported Its First Seeds to Australia (slide 25)

Rua recently exported its first seeds to Australia. Although this was a small step, it
was an exciting moment for the company.

The seeds will be grown by Rua’s cutivation partner Cann Group, to be assessed for their commercial potential.
Rua will also run parallel trials with remaining seed at our cultivation R&D facility in Ruatorea. This is the first
step of establishing the process of sending genetics to Australia, where we can then grow at a global scale. It
also demonstrates that, in time, we will be able to export unique East Coast genetics from Ruatorea to the world.


We are a Business with a Deep Sense of Kaitiakitanga (slide 26)

As a business with a deep sense of kaitiakitanga, Rua believes we are responsible for protecting and nurturing
the environment and sharing the benefits of a successful business with our community. Rua’s intergenerational
view comes from a deep-seated belief that great business is good for the land and its people.

The Rua Sustainability Framework guides Rua’s sustainability programme. It shapes the way the company
engages with stakeholders; supports sustainable decision-making processes at all levels of the company; shapes
business strategy; guides innovation; drives better performance; creates value and attracts investment.

In FY22, we made great progress with our sustainability goals with a focus on progressing our 'Toitu Envirocare
journey and strengthening our approach to ethical governance.


Opportunities and Challenges for the Sector (slide 27)

In regards to Toitu, Rua has completed the CO2 emission analysis of our base year and we have received the
draft results.

Our total greenhouse gases for FY22 was 217 tons of CO2. Our top emission was caused by a leaking refrigerant
- R-404A which has been subsequently repaired. It's great to now have this benchmark & we have plan in
progress to reduce. These results are unaudited. Our audit is scheduled for early November.


Continuing our commitment to Drive Community Change (slide 28)

Rua is focused on maximising the potential of the emerging medicinal cannabis industry to enhance health, heal
the whenua and restore prosperity to the region. This year, we have continued our commitment to drive
community change focusing on inspiring the next generation of scientists and entrepreneurs.

In 2020, Trust Tairawhiti committed $50,000 over two years to Rua’s community capability development
projects. This funding was matched by Rua and managed by the company’s Community Engagement
Coordinator, Darylene Rogers. It supports our Scholarships, Careers Series, Internships and industry exposure
visits.

Last year, Rua awarded eight Undergraduate Scholarships and two Postgraduate Scholarships.

Rua guided four kura from Te Tairāwhiti through our cultivation facility in Ruatorea as part of the company’s
student exposure visits. The students experienced first-hand the indoor cultivation process and heard about the
potential career pathways available to them.
We also worked with Ngata Memorial College, taking students to visit industry partners in Auckland and
included visits to The University of Auckland, ESR, Plant and Food Research and Manaaki Whenua.


Leadership Changes (slide 29)

Last month, we announced that Andi Grant would step down from the role of Chief Commercial Officer and that
that role would be filled by current Chief Operating Officer, Paul Naske.

Andi joined Rua in June 2021 and I want to thank Andi publicly for her efforts which have substantially
progressed Rua’s global business goals. Highlights have been that she has significantly advanced our entry into
Germany, where we will launch by year’s end. She also played a key role in the acquisition of Zalm and has
progressed our cultivation partnership with Cann Group.

I am thrilled that Paul has agreed to step into this critical role. Paul has been with Rua since the very early days
and has helped build our organisation. He also oversaw the construction of Rua’s two world-class medicinal
cannabis facilities in Mangaoporo and Gisborne. Paul’s expertise complements that of Andi’s, so we expect a
seamless transition over the next month.


Rightsizing Rua (slide 30)

Earlier this year, the Board undertook a review of our operations understanding that the journey to sustainable
revenue had been delayed significantly by the global COVID19 pandemic and slow NZ Regulatory decisions.
These delays meant that we were not reaching our commercial milestones or meeting the expected outcomes
we had provided to our investors. We took this into account when considering how long our capital funding
would support our current organisational structure and spend.

Our vision remains the same and our commitment to creating an intergenerational business remains strong, but
we need to be flexible around our strategy and structure to achieve this.

In September, we proposed a right sizing to the team. This is never an easy process, but people understood why
& we received significant support for the change. A large number of employees provided in-depth feedback
during the consultation process. This feedback helped us make the ultimate decision on structure.
We believe we now have the right focus and agility to ensure a sustainable future.


Pathway to Sustainable Revenue (slide 31)

So just to recap...in the last 12 months:
• We purchased Zalm Therapeutics and their long-term supply contract for GMP-grade medicinal
cannabis through Cann Group, with the goal of ultimately using our unique cultivars.
• We launched our first product for NZ patients as a prescription only medicine in April 2022 and we have
already gained 5% market share.
• We have continued our focus on the developing European medicinal cannabis market.
• We have signed five-year manufacturing and supply agreement with European medicinal cannabis
distributor Motagon, which gives Rua the first opportunity to supply the European distributor with a full
portfolio of medicines. Beyond Germany, we are in discussions in markets including Poland, Czech
Republic and the United Kingdom.
• We have exported our first seeds to Australia.
• We have formally received our first order of flower for Germany, so we are on track to have our first
export products available for German patients early 2023

Although the last 12 months have been challenging with COVID interruptions & regulatory delays we have still
made strong progress.

I believe that with right sizing the business, rebuilding our kaupapa and culture, and having a laser focus on our
future strategy and deliverables, we have set ourselves up for future success. I will now hand you over to our
Chief Financial Officer, Hamish White, who will walk you through our financial results.

ANNUAL RESULTS

Rua Receives First Revenues (slide 33)

In FY22, Rua focused on preparing for market entry. Walking through the key financial highlights.

Our
total income
for FY22 was $646k. This includes funding from NZTE, Callaghan Innovation and the Research
Development Tax Incentive, as well as revenues from our first product for New Zealand patients. Sales
began late in the financial year and are beginning to show strong growth as Anna mentioned. This is an area
we’re proactively working in, and our commercial team has a solid strategy to grow local market share by
increasing the volumes and range of medicines we deliver to New Zealand patients.

In the next financial year, Rua expects to drive export revenue as the company enters new high-value markets in
Europe, with a particular focus on the launch of our first flower product in Germany.

Our
R&D investment
for FY22 was $2.98m up $1m from FY21.

R&D is the lifeblood of any pharmaceutical company and especially of Rua’s as we look to develop medicinal
cannabis products that are unique to the global market. As previously mentioned, this investment was
underpinned by a $376,000 grant from Callaghan Innovation for a series of exciting projects related to plant
science and product development. The team is undertaking innovative ventures including the existing
hyperspectral imaging project, which looks to revolutionise crop management practice; advancements in CO2
extraction; and DNA tracking and protection of unique Rua cultivars.

Meanwhile, Rua’s cultivation centre of excellence at Ruatorea continues to drive unique cultivar development.
Together our cultivation and manufacturing teams are an incubator of medicinal cannabis innovation, furthering
Rua’s aspiration to produce next-generation pharmaceuticals.

Overall, Rua had a net loss before tax for the year ended 30 June 2022 of $7.49m, which was in line with our
expectations.


Rua Remains Well Capitalised (slide 34)

In terms of our balance sheet...

Rua remains well capitalised with investments, cash and cash equivalents on hand at the end of the year of
$9.94m. As a company we are constantly monitoring our cashflow to ensure we have the appropriate reasources
to meet our key milestones.

Based on our cash on hand, Rua has no plans to capital raise in the next financial year.

In February, Rua acquired Zalm Thereputics. As Anna highlighted, this partnership with Cann Group creates a
unique opportunity in the NZ market with Rua having access to scalable supply of high-quality product without
additional capital outlay. We see this is a major competitive advantage – this is a capital lite growth strategy
and provides agility as we enter new markets around the world.

As part of the aquisition we have recognised intangible assets related tob the favourable supply contract with
Cann Group and resulting goodwill. As the contract is milestone-based we have also recognised two contingent
liabilites, these are both subject to particular milestone achievements.
As at the end of the financial year, the total assets of the Group were $33.57m with total liabilities of $9.38m
bringing our net assets to $24.2m.


Investing in the Future (slide 35)

In terms of our Cashflow...

Net cash outflow from operating activities for FY22 was $6.84m.

Our net cash inflow from investing activities was $5.59m. This primarily relates to the maturing of investments
and associated drawdown of term deposits. As part of the Zalm acquisition, Rua received $876k in cash. On
completion of either milestone 1 or 2 under the Zalm acquisition, Rua will receive an additional $500k and any
interest accrued.

In summary, the company remains focused on the development of our product portfolio and streamlining
systems and processes in both our cultivation and manufacturing operations to drive the best return on
investment in a highly dynamic and regulated industry. Rua has done a lot of the heavy lifting to get to market
having built facilities, attracted world class people, secured licences, secured sustainable and scalable supply
and progressing relationships with customers around the world.

We look forward to the year ahead as we focus on entering new markets, generating sales and building our
product portfolio.

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Hui a Tau
Annual Shareholders Meeting
October 2022

2

Hui a Tau
Annual Shareholders Meeting
October 2022

Rua Bioscience Limited (Rua) is a New Zealand pharmaceutical company aiming to be
a leading producer of cannabinoid derived medicines. This presentation and the
information contained in or accompanying this presentation are not, and are under no
circumstances to be construed as, an invitation to subscribe for, or an offer of, shares,
securities or financial products to any person, in any country or the basis for a
contract, financial advice, other advice or recommendation to conclude any
transaction for the purchase or sale of any security, loan or other instrument. This
presentation has not been independently verified.Neither Rua nor any of its directors,
officers, shareholders, advisors, agents or employees make any representation or
warranty as to the accuracy or completeness of the information contained in this
presentation and those parties shall have no liability for any statement, opinion,
information or matters arising out of, contained in, or for any omissions from, or failure
to correct or update any information in, this presentation or any other communications
transmitted to you in relation to this presentation.
4

How to Participate in Virtual/Hybrid Meetings (Q&A)
Shareholder & Proxyholder Q&A Participation
Written Questions
Questions may be submitted ahead of the
meeting. If you have a question to submit
during the live meeting, please select the Q&A
tab on the right half of your screen at anytime.
Typ e you r q u esti on i n to th e f i el d an d p ress
submit. Your question will be immediately
submitted.
Help
The Q&A tab can also be used for immediate
help. If you need assistance, please submit your
query in the same manner as typing a question
and a Computershare representative will
respond to you directly.
5

Shareholder & Proxyholder Voting
Once the voting has been opened, the
resolutions and voting options will allow voting.
To v o t e , s i m p l y c l i c k o n t h e Vo t e t a b , a n d s e l e c t
your voting direction from the options shown
on the screen. You can vote for all resolutions
at once or by each resolution.
Yo u r vo t e h a s b e e n c a s t w h e n t h e t i c k a p p e a r s .
To c h a n g e y o u r v o t e , s e l e c t ‘ C h a n g e Yo u r Vo t e ’ .
6
How to Participate in Virtual/Hybrid Meetings (Voting)

Board of Directors –Leadership to Grow Rua
TREVOR BURTPANAPA EHAUBRETT GAMBLEANNA STOVEMARTIN SMITH
Independent
Chairman
Global executive roles
with a Fortune 500
company, Director
PGGWrightson, Silver
Fern Farms, Chair of
LytteltonPort and the
NZ Lamb Company.
Director, Co-Founder
Co-founder of a
number ofsocial
enterprises and
holds governance
roles across
numerous for-profit
and charitable
organisations.
Director
20 years’ global
experience in
investment and
corporate finance.
Executive Director of
AlvariumInvestments
Valued at $1.4bnwith
$54bnin managed
investments.
Independent Director
25 years’ experience
leading
pharmaceutical
businesses across
Asia, Europe and NZ
including General
Manager of GSK NZ.
Director of Pacific
Edge & Deputy Chair
TAB NZ
Independent Director
25 years’ experience
in the consumer
goods sector. Former
Country Manager of
L’Oréal New Zealand
and Regional Director
for L’Oréal Asia
Pacific and Eastern
Countries.
7

8

Leadership Changes
9
Rob Mitchell
CEO
Since his appointment as CEO in February
2020, Rob has built a world-class team, leading
them through significant milestones.
•Rua launched on the NZX
•Gained GMP certification.
•Launched our first product in New Zealand.
•Developed new global market opportunities.

Co-Founder Refocuses
10
Manu Caddie
Co-Founder, Kaihautu innovation and
Regulation
Cofounded Rua in 2016.
Is part of a small group who can claim to have
built the industry in Aotearoa from the ground
up.
Globally recognised leadership and expertise in
the regulatory and research areas.
Constant advocate for the ethical evolution of
the industry.

Agenda
1.Company Overview and Chair’s Address
2.Managing Director’s Presentation
3.Annual Results Presentation
4.Shareholder Questions
5.Ordinary Resolutions
1.Auditors Remuneration
2.Re-election of Trevor Burt
3.Re-election of Brett Gamble
4.Re-election of Teresa Ciprian
6.General Business
11

Company
Overview and
Chair’s Address
12

• Createunique,sustainableandprotectedIP, cultivation techniques
• Develop commerciallyviablevarietiesofcultivars
• UseresearchpartnerstodevelopIP
CreatingUniqueProductand
PlantIP
DevelopingNewProductsand
Markets
• Createnew,protectedproduct formulations
• Developnew,attractivemarkets
• Achievesustainablerevenue
OptimisingCultivationand
Processing
• Achieveexcellencein cultivation & processing techniques
• Develop cultivation partnershipstoexpandproduction
• Obtainlicencesandapprovalsforall processes,products, markets
DevelopingourPeople
• Builda capableandcommittedteam
• CreateemploymentpathwaysforTeTa i rāwhitiresidents
Te Rautakio Rua
Our Strategy – Focus and Objectives

Māwhitimaiki ngāWhakatutukitanga
Achievements at a Glance
Rua welcomed
the East Coast
Cannabis
Company
(E3C) as its
first local
cultivation
partner.
Rua received
Good
Manufacturing
Practice (GMP)
certification
from Medsafe.
Rua launched
its first
medicine for
New Zealand
patients.
14
Rua received
verification
that its first
medicinal
cannabis
product meets
Medsafe’s
quality
standards.
Rua
shareholders
approved the
purchase of
Zalm and its
supply
contract with
Cann Group.
Rua received
its narcotic
license through
Nimbus Health
for its first
product for the
German
market.

Volatility in the NZ Market
15
-100%
-80%
-60%
-40%
-20%
0%
20%
40%
Jul 21Aug 21Sep 21Oct 21Nov 21Dec 21Jan 22Feb 22Mar 22Apr 22May 22Jun 22Jul 22Aug 22Sep 22
NZX 50
Rua
Cannasouth
Greenfern Industries

Managing
Director’s
Presentation
16

In past year, Rua has been focused on preparing for market entry
ØSecuring partners and developing the frameworks and strategies that will give the
company the best chance of success both at home and globally.
TirohangaWhānui
FY22: An Overview
17

Rua’s Operational Priorities
18
Leveraging our Cann cultivation and processing
facility to launch products to Germany
Developing the European market
Manufacturing CBD100in Gisborne & increasing
our market share in NZ
Continue to discover interesting new, illicit
varieties at Ruatorea - ultimately growing
chosen varieties at scale in Australia
Photo Credit: Cann Group

Leveraging our Cann Production Capacity to
Service Global Markets
19
Photo Credit: Cann Group
C
annGrouphaveannouncedthattheGMP
manufacturinglicencefor theCompany’sflagship
Mildurafacility, has been extended to cover the
manufacture and release of finished dried flower
products for patient use.
Rua will leverage thisto deliver a range of
medicinal cannabis products to multiple export
markets.

RuaSignificantly Advances German Market Entry
20
We have just received our first order from
German distributer, Nimbus Health, marking a
significant commercial milestone and cementing
export revenues.

Advancing our Export Strategy
Going global to support local
Source:
The European Cannabis Report: 7th edition: Reports. Prohibition Partners. (2022, April 8). Ret’d May 25, 2022.
Germany
PolandCzechiaThe United Kingdom
21

The launch of Rua’s first medicine
in Aotearoa was a milestone for
NewZealand patients, prescribers and
themedicinal cannabis industry.
22
Entering the NZ Market

CBDPRODUCTS(units)
SUPPLIED PERANNUMTO
THENZ MARKET
New Zealand’s CBD market is growing rapidly
off a small base.
Source: Ministry of Health, 2022
23
NZ market grows as
practitioners are
increasingly willing to trial
medicinal cannabis

Continue to discover interesting new, illicit
varieties atRuatorea- ultimately growing
chosenvarieties at scale in Australia.
24
Ruatorea - our home of
genetic innovation

Rua recently exportedits
firstseeds to Australia
It is a first step in establishing the processes we
need to send genetics to Australia where we can
grow at a global scale.
It also demonstrates that, in time, we will be able to
export unique East Coast genetics from Ruatorea
to the world.
25

We are abusiness with a deep sense ofkaitiakitanga
26
Impact AreaTarget FY22Status
EnvironmentalTo i tūEnvirocarecarbon audit completed and transition plan approved.
In progress
Sustainable packaging policy adopted and recyclable packaging investigated.
Complete
GACPcertification process undertaken for Mangaoporo site.
In progress
SocialContribution made to NZMCCprescriber education programme.
On hold
Community impact monitoring framework established.
In progress
Two internships. Two work experience. Six scholarships.
Complete
Mechanism for illicit varieties to enter legal market established.
Complete
GovernanceCode of Ethics and Ethics Complaint Process added to Code of Conduct.
Complete
Ethics training completed by all staff.
Complete
Anti-corruption policy adopted.
Complete
Modern Slavery policy adopted.
Complete
All staff complete diversity and inclusion training.
Complete

Baseline forCO2 emissions established, plan in progress to
reduce
27

28
Continuing our commitment to drive community change
Focusing on inspiring the next generation of
scientists and entrepreneurs.

Leadership Changes
29

Rightsizing Rua
Rebuilding Culture and
Kaupapa
30
30

Pathway to Sustainable Revenue
Q2
2022
First
Domestic Revenue
Product available
in New Zealand as
a prescription-
only medicine.
Q4
2022
First
German Export
Export sales
imminent.
Q3
2022
New
Global Markets
Expanded
strategy
incorporates high-
value European
markets.
31
Q4
2022
First
Genetic Export
Further advances
Rua’s IP and
cultivation
strategies.
Q1
2022
Zalm Acquisition
Securinglong-
term supply
contract for GMP-
grade medicinal
cannabis.

Annual Results
32

Rua’sannualfinancialresultsforthe
year the ended 30 June 2022.
Nga Pūtea
Financial Highlights
Profit & Loss
Investment in R&D $2.98m
Loss before tax $7.49m
To t a l i n c o m e $646k
33
Rua Receives First Revenues

Cash, Cash Equivalents & Investments $9.94m
Rua’sannualfinancialresultsforthe
year the ended 30 June 2022.
Nga Pūtea
Financial Highlights
Balance Sheet
34
To t a l A s s e t s $33.57m
To t a l L i a b i l i t i e s $9.38m
Net Assets $24.2m
Rua Remains Well Capitalised

Rua’sannualfinancialresultsforthe
year the ended 30 June 2022.
Nga Pūtea
Financial Highlights
Cashflow
35
Net cash outflow from financing activities$209k
Net cash outflow from operating activities $6.84m
Net cash inflow from investing activities $5.59m
Investing in the Future

Shareholder
Questions
36

Ordinary
Resolutions
37

That the Board be authorised to fix the auditor’s remuneration.
Resolution One
38

That Trevor Burt be re-elected as a director of Rua.
BSc, Chartered Fellow of the Institute of Directors.
Trevo r br i n gs exte n s i ve co r po rate exe cu t i ve an d gove r n an ce
experience to Rua Bioscience, having served in global
executive roles with a Fortune 500 company, on the boards
of innovative agricultural companies such as NZX-listed PGG
Wrightsons, Silver Fern Farms and Market Gardeners NZ, and
as Chair of Lyttleton Port and Ngai Ta h uHoldings and the
New Zealand Lamb Company.
Trevo r was appo i n te d as Di re cto r an d Ch ai r m an o f R u a i n
August 2019.
Resolution Two
39

That Brett Gamble be re-elected as a director of Rua.
BCom, Chartered Accountant (member of CA ANZ).
Brett is an investment and finance specialist with global
connectivity having lived and worked in USA, UK, Australia,
and New Zealand. He is currently CEO ofGough
Investmentsand Executive Director of AlvariumInvestments
(NZ). Brett is also a current Director of AlvariumInvestments
Australia, Mike Greer Homes, Mojo Coffee and Mobile Medical
Te c h n o l o g i e sand was previously Chair of Enable Networks
and a director of SouthbaseConstruction. Brett also Chairs a
South Island based cancer charity, Chalky CarrTr u st .
Brett was appointed a Director of Rua in November 2019.
Resolution Three
40

That Teresa Ciprianbe re-elected as a director of
Rua.
Chartered Member of the Institute of Directors.
Te r e s a h a s a n e xc e p t i o n a l b a c k g r o u n d i n h i g h l y c o m p e t i t i v e
global FMCG businesses. A Chartered member of the
Institute of Directors, Teresa brings strong governance
capability having served on boards including FirstlightFoods
Ltd, AgResearch, Prolife Foods, Food Standards Australia
and New Zealand and Zespri. Teresa has a track record of
helping develop highly capable leaders, strong brands,
accumulating IP and seeing organisations flourish through
continuous improvement.
Te r e s a h a s b e e n aDirector of Rua since August 2022.
Resolution Four
41

General
Business
42