ASM chair address and presentation

AFT Pharmaceuticals
2023 Annual Meeting
Milford Cruising Club
Friday, 4 August 2023
Chairman’s address
The financial year ending 31 March 2023 has been another good year for AFT. Your
board’s decision this year to declare a maiden dividend represents the start of a new
chapter in the history of AFT and another significant achievement.
The payment of the dividend is a strong statement of confidence in the future of AFT; that
the company can continue to self-fund ongoing growth and at the same time deliver an
income stream to shareholders.
Revenue for the 2023 year reached another record of $157 million. It represented an
increase of 20% over the previous financial year and extended an uninterrupted record
of revenue growth that is now running at a 10-year average annual compound rate of
nearly 15%.
We have also notched up several important strategic achievements. We extended our
portfolio to more than 150 products and bolstered our strong product development
pipeline.
We consolidated our strong position in both Australia and New Zealand with further
investment into market presence in Australia and multiple new product launches.
We continued to extend our reach into new markets around the world including the
United States where a rapid-dissolving prescription-only version of our Maxigesic pain
relief medicine was approved for sale by the US Food and Drug Administration.
This is a first for AFT and New Zealand. Until now, no other company in the country has
had a patented locally developed medicine with clinical studies approved by the United
States FDA for sale in the world’s largest healthcare market. We are also expecting
additional FDA approval later this year – this time for the intravenous version of the
medicine that we call Maxigesic IV.
We are proud of these achievements.

We have also continued to consistently grow earnings.
Operating profit of $19.7 million was in line with the prior year’s $20.4 million. However –
as we have seen in prior years – this topline figure masks the significant and consistent
growth the company has delivered in operating profit in product sales and royalties,
which are ultimately the most significant driver of shareholder value.
Operating profit from these sources rose a very strong 38% to $18.8 million and as you will
see from this slide this extends a strong record of growth.
Licensing income – which is the revenue we receive in exchange for giving others the
right to use our intellectual property in international markets – was lower than we received
in the prior year when we received a significant milestone payment related to Maxigesic
IV.
This is not to diminish the significance or value of licensing income. Importantly it is
revenue that drops almost directly to the bottom line. However, it is lumpy and is linked
to certain regulatory or commercial milestones that are often unpredictable.
Pandemic
The strong lift in operating profit from product sales and royalties in the 2023 financial year
is a return to form as we have shaken off many of the challenges caused by the global
pandemic.
The pandemic had a bigger impact on our growth plans than we had previously realised
– particularly our international growth ambitions. Now that Hartley and his team have
been able to recommence travel we realise how critical it is get face to face with
customers and suppliers.
So – it is vital that Hartley and his team have been able to get back out into international
markets, drive sales and expand the research and development pipeline which is the
source of the company’s future growth. The performance we have seen this year reflects
the company starting to reap the rewards of these efforts.
Funding
AFT remains well funded. Net debt of $29.3 million at the end of the financial year is in line
with the prior year and this has been achieved despite lower-than-expected licensing
income and increased investment in our market presence, and into research and
development. The company has also continued to maintain higher inventory levels in
order to manage the ongoing supply chain disruptions, although these are slowly easing
and inventory levels will normalise over time.
Dividend
Those investments in market presence, and our significant continued R&D expenditure,
together with lower-than-expected licensing income meant that our debt level was
higher than forecast and above our policy of one times EBITDA.

This is the key reason we opted to pay a maiden dividend in July of 1.1 cents per share
that represented 11% of net profit after tax. T his is below our stated policy of 20% to 30%
of (normalised) net profit after tax. Directors felt that a below policy dividend was also
appropriate given the significant growth opportunities available to the company and
capital required to fund them. Our intention is to operate the company within both the
dividend and debt policy level over the coming year.
Governance
AFT, with its mission of ‘working to improve your health,’ is founded on sustainability.
Consequently, the increased requirement from shareholders and international investors
that we report on our sustainability strategies is a movement that we have fully
understand and will embrace over time so as to ensure that we continue to do the right
thing.
We have always understood that accounting for and managing Environmental, Social
and Governance considerations are critical to our long-term ability to create value and
improve the health of the customers and communities we serve.
We have this year continued to advance the sophistication of our programme to
introduce objective and robust measures of performance in the ESG areas that are
material to our business.
Measurement is an important step to help AFT refine our priorities, better manage risks,
and identify opportunities for innovation. It also promotes transparency and helps
stakeholders better understand how we are managing our sustainability risks and
opportunities.
We are proud of our record and have listed some of our key achievements on this slide –
and this is also set out in more detail in our annual report.
The ultimate measure of our social contribution is the extent of our medicine portfolio, its
reach across the world, and the extent to which we fund its further development. On
these measures AFT has delivered a strong performance. We are also constantly seeking
new opportunities for health enhancing products that will make a difference to patients
lives. Hartley will talk more about some of our exciting new drug development
programmes.
On many other important measures, the company is also delivering. The detail of our
achievements is covered in the sustainability section of our annual report, but I do want
to highlight our record on several key points:
• We lost zero time to injury.
• We pay our people according to their skill and performance, with no bias to
gender.
• More than 90% of our suppliers have attested to compliance to the Modern
Slavery policy we introduced last year, providing extra assurance on our
commitment to ethical and sustainable supply chains.

• We also strengthened this commitment with the introduction of a Supplier Code
of Conduct to help ensure our commitment to deal with ethical and responsible
counterparties.
• Turning to our environmental footprint; 99% of our packaging waste is diverted
from landfill.
• We have also commenced a climate risk assessment and we will be ready to
report against the new climate standards for the current financial year.
Social
I also want to note other efforts we undertake generally without publicity but which
indicate the values of this company.
One weekend last year some children in Indonesia were poisoned by a tainted medicine.
The poison could be mitigated by a product called fomepizole and the only supplies
available were in our warehouse in Sydney. So, during the weekend our team worked
with the Australian government to get those supplies on transport from our warehouse in
Sydney to those children in Indonesia.
We also worked with Chemist Warehouse in Australia to raise money for men’s and
women’s mental health charities by contributing 5% of gross sales of Maxigesic tablets
sold through Chemist Warehouse over a promotional period.
Outlook
We expect the momentum we have seen in the last year to continue, supported by
growth in the core Australasian markets from market share gains in the existing portfolio
and new product launches.
We are also targeting increased growth in International and Asian markets and from an
expanded presence in the United Kingdom.
Hartley will be expanding on this shortly in his presentation.
For the 2024 financial year we continue to expect an operating profit of $22 million to $24
million. We also expect licensing income, not included in the guidance range, of at least
$6 million on the launch of Maxigesic IV in the US, following the expected FDA approval
later this year. Depending on these timings this license income could fall into the end of
FY2024 or early FY2025.
The one caveat to this guidance is that it is subject to the manner in which we decide to
undertake our Maxigesic Rapid commercialisation strategy in the United States.

Before handing over to Hartley I want to thank the AFT team for all they have delivered
over the past year and their ongoing commitment.
We place a high priority on supporting and developing our people and promoting a
diverse and inclusive culture that makes AFT attractive to talented people.

And while we are ever vigilant to ensure we deliver on these goals, we recognise AFT’s
good fortune in having a team that is so committed to the company’s success.
We are proud of the way they have embraced the challenges of the last year and
delivered such an outstanding result for all of our stakeholders. On behalf of the Board
and shareholders we thank them for their efforts.
Thank you also to my colleagues on the Board, and to our Managing Director Hartley
Atkinson, for their efforts and commitment to the company’s success. In particular, I
would like to thank Jon Lamb for his dedication and commitment to the company over
a long period of time and to wish him all the best in his retirement. He has played a pivotal
role in the growth of the company and personally gave me great support when I joined
the board.
On behalf of the Board and the company, I would also like to thank you our shareholders
for your continued support.
I will now invite Hartley to address the meeting.
Released for and on behalf of AFT Pharmaceuticals Limited by Chief Financial Officer
Malcolm Tubby
For more information:
Investors Media
Dr Hartley Atkinson Richard Inder
Managing Director The Project
AFT Pharmaceuticals Tel: +64 21 645 643
Tel: +64 9488 0232

---

ANNUAL
SHAREHOLDER
MEETING
MILFORD CRUISING CLUB
AUCKLAND
4 AUGUST 2023

Important Notice
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH2
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.

AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH3
David Flacks
Chairman and Independent Director

Directors
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH4
Dr Hartley Atkinson
CO-FOUNDER, EXECUTIVE
DIRECTOR AND CHIEF EXECUTIVE
OFFICER
Marree Atkinson
CO-FOUNDER, EXECUTIVE
DIRECTOR AND CHIEF OF STAFF
Anita Baldauf
INDEPENDENT DIRECTOR
Jon Lamb
INDEPENDENT DIRECTOR
Dr Ted Witek
INDEPENDENT DIRECTOR

Agenda
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH5
•Chair's address
•Managing Director's address
•Shareholder questions
•Resolutions & general business
•Meeting close

$40 .0
$49 .0
$56 .0
$64 .0
$69 .0
$81 .0
$85 .0
$106 .0
$113 .0
$130 .0
$157 .0
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23
NZ$ MILLION
AFT TOTAL OPERATING REVENUE
AFT Extends Strong Record of Growth, Declares Maiden Dividend
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH6
14.5%
CAGR
A Global Company
Australasia:
•150+ products across seven
therapeutic areas distribution
via 7,700pharmacies.
Asia:
•A broad range of products
sold through licensees and
distribution partners
Rest of the World:
•AFT developed intellectual
property commercialisedin
61 countries (including ANZ)
and agreements in more than
100 territories.

-$16.4
-$11.2
$4.9
$7.6
$8.6
$13.7
$18.8
$1.6
$1.1
$1.2
$3.8
$2.1
$6.7
$0.9
-$20
-$15
-$10
-$5
$0
$5
$10
$15
$20
FY 17FY 18FY 19FY 20FY 21FY 22FY 23
NZ$ MILLION
AFT OPERATING PROFIT
Operating Profit (ex Lic income)License Income
Solid Financial Performance
Consistent Earnings Growth from a Growing Portfolio
•Operating profit excluding licensing income up 38%
•Total operating profit slightly lower impacted by lower
licence fees
•Net debt of $29.3 million in line with the prior year with a
focus on bringing net debt to target level
•Growth investments fully funded by operating cash flow
•Lower operating cash flow reflects higher working capital
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH7

Sustainability – Establishing a Baseline as the Next Step of Our Evolution
Environmental Social and Governance Highlights
We have moved to the measurement of the material ESG matters that
impact our business as we refine our priorities and establish strategies for
improvement.
Environment
•99% of our packaging waste is diverted from landfill.
•Commenced a climate risk assessment
Social
•Extended our product portfolio to 150 medicines across seven
therapeutic areas.
•$11.8 million spent on research and development
•Zero hours lost time to injury
•Zero instances of concern in gender pay parity review
Governance
•Instituted a Supplier Code of Conduct
•90% of suppliers attested compliance to Modern Slavery Policy
•Zero product recalls
Our mission of working to improve the health of our customers and our
communities has at its heart a commitment to sustainability and a determination
to contribute positively to environmental and social outcomes
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH8

AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH9
Dr Hartley Atkinson
Co-Founder and Managing Director

FY23 Highlights: Strong growth across all territories and channels
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH10
•Revenue grew in all regions with the core Australasian business making the largest contribution to growth ($26.3 million )
•International revenue (ex-licensing income) up 71% to $10.8 million; licensing income of $0.9 millionvs $6.7 million in FY22
•Growth led by the OTC channel with the pain segment (Maxigesicdose forms) driving growth in all markets
$5.5
$13.1
$35.1
$76.7
$6.8
$11.7
$44.0
$94.1
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
AsiaRest of worldNew ZealandAustralia
NZ$ Million
OPERATING REVENUE BY REGION
FY 22 FY 23
27%
59%
4%
10%
28%
60%
4%
7%
REVENUE BY REGION
New ZealandAustraliaAsiaRest of world
FY22
FY23
58%
15%
27%
61%
15%
23%
REVENUE BY CHANNEL
OTCPrescriptionHospital
FY 23
FY 22

Driving Growth With New Products
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH11
•DuringFY 23AFT launched 22 newproducts
•Planning ~68 product launches in Australasia FY24 -FY26 across all
three channels
•Some of these products also targeted for launch in Asia Hubs
(Singapore and Hong Kong) and UK
•A number of innovative products in-licensed e.g. Zeneo® Midazolam
Needle FreeAuto-Injector for epilepsy
YearFY 23FY 24FY 25 - FY 26
Planned launches222642
Australasia product launch pipeline

Driving Growth Through International Partnerships
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH12
•Maxigesic IV development partner and expect to
expand our collaboration
•Hyloris follows a similar strategy to AFT of
reformulating and repurposing approved
pharmaceuticals
•Belgium-based listed on Euronext Brussels,
•Market capitalisation€326m

Driving Growth Through Expanded Distribution Networks: E-Commerce
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH13
A Global Presence Online and in Market
•Extended our online presence
•Amazon (US AU);
•China (Tmall Global);
•Australia (Direct)
TMALL A GATEWAY TO CHINA
AMAZON USA

Driving Growth Through Expanded Distribution Networks
AFT Pharmaceuticals UK Ltd
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH14
Increasing Geographic Expansion
•4 Launches planned for FY24
•Established entity - 70% AFT Owned and 30%
Edge Pharma
•Significant number regulatory filings underway
and planned
•CEO appointed, 2 Commercial Managers,
Hospital Sales Representative

60%
28%
8%
4%
37%
17%
35%
11%
AustraliaNew ZealandInternationalAsia
New Product Development and International Markets to Drive Growth
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH15
THE FUTURE
REVENUE MIX BY REGION
FY 2023
•Ongoing new product launches
•Growing R&D pipeline and launches in later years
•Leveraging Maxigesic launches and line extensions
•Growing presence in Asia (OTC and online)
•UK launches and pipeline
•AFT ANZ pipeline expanded to AFT Hubs (SG, HK, UK)
•Amazon USA Launch

Australia: Sales Accelerating Underpinned By New Product Launches
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH16
•Sales in Australia rise 22.8% to $94.1 million from $76.7 million in FY22
•OTC channelthe standout performer, up 29.7% to $61.2 million
•Investment of $8 million in new GP focused sales force and promotions delivering early results.
•Future growth driven by both organic growth and new launches
$49.2
$50.3
$61.4
$68.3
$76.7
$94.1
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
FY 18 FY 19 FY 20 FY 21 FY 22 FY 23
NZ$ Million
AUSTRALIAN OPERATING REVENUE
61.5%
11.2%
27.3%
65.0%
9.6%
25.4%
AUSTRALIA REVENUE BY CHANNEL
OTCPrescriptionHospital
FY 23
FY 22

New Zealand: Strong Organic Growth Across All Channels
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH17
•New Zealand revenue grows 25% to $44.0 million from $35.1 million lifted by strong post Covid OTC growth and continued
growth in revenue from the Maxigesic family of medicines.
•Future growth driven again by organic growth and new product launches
$27.1
$26.8
$30.1
$30.5
$35.1
$44.0
$0
$5
$10
$15
$20
$25
$30
$35
$40
$45
$50
FY 18 FY 19 FY 20 FY 21 FY 22 FY 23
NZ$ Million
NEW ZEALAND OPERATING REVENUE
57.2%
28.1%
14.7%
52.3%
33.6%
14.1%
NZ REVENUE BY CHANNEL
OTCPrescriptionHospital
FY 23
FY 22

Asia: Expanded OTC Presence and Moving into China
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH18
•Sales in Asia rose 24% to $6.8 million from $5.5 million in prior year
•OTC channel leading growth; contribution from the new Tmall global site growing; AFT to run the site post 1 Aug 23
•Targeting accelerating growth in Asia driven by some organic growth but mainly by new launches and geographic
expansion (China, Vietnam, Philippines, Thailand)
$1.3
$2.1
$4.9
$4.4
$5.5
$6.8
$0
$1
$2
$3
$4
$5
$6
$7
$8
FY 18 FY 19 FY 20 FY 21 FY 22 FY 23
NZ$ Million
ASIAN OPERATING REVENUE
8.1%
19.5%
72.4%
14.7%
5.9%
79.4%
ASIA REVENUE BY CHANNEL
OTCPrescriptionHospital
FY 23
FY 22

19
International: Strong Organic Growth of Product Sales and Royalties
•International income – excluding licensing income –rises 71%to $10.8 million; licensing income in FY 23 was $873k vs FY22
$6.7 million
•Maxigesic Rapid tablets registered in the US and progressing discussions over best approach to distribution;
•Maxigesic IV US registration to trigger $6 million licencefee payment from Hikma in calendar 2024
•Targeting accelerating International income growth from multiple sources (organic, geographical, new dose forms and products)
2
3
4
7
9
20
28
43
46
61
0
10
20
30
40
50
60
70
FY 14FY 15FY 16FY 17FY 18FY 19FY 20FY 21FY 22FY 23
Countries
COUNTRIES WHERE MAXIGESIC IS SOLD AND ORDERED
19
$3.6
$5.9
$9.1
$9.9
$13.1
$11.7
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
FY 18 FY 19 FY 20 FY 21 FY 22 FY 23
NZ$ Million
INTERNATIONAL OPERATING REVENUE
Product sales and royaltiesOther

Operating Cashflow Supports Continued R&D Investment
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH21
$9.5
$4.1
$3.6
$3.4
$5.5
$5.6
$2.5
$2.9
$6.3
$5.8
$4.9
$6.2
$-
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
FY 2018FY 2019FY 2020FY 2021FY 2022FY 2023
NZ$ Million
Research and development expenses
Expensed R&D CostsCapitalised R&D Costs

NZ$'000s
Year ended 31 March
2023Revenue
%
2022Revenue
%
Revenue156,641130,314
Gross profit72,98346.6%61,77547.4%
Operating expenses and other income(53,314)34.0%(41,386)31.8%
Operating profit19,66920,389
Finance expenses and other income(3,870)(1,704)
Ta x(5,145)1,163
Profit after tax10,65419,848
EBITDA21,39321,476
Revenue from product sales and royalties155,768123,570
Gross profit from product sales and royalties72,11046.3%55,03144.5%
Dividend (cents per share) 1.1-
Operating Profit Lower on Reduced LicenceIncome
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH22
•Strong growth in operating revenue and
steady gross margins
•Excluding licensing income, revenue
grew 26%;
•Licensing income $0.9 million vs. $6.7
million in FY22
•$8 million in investment in Australian
sales force and international distribution
•Maiden dividend of 1.1 cents per share

Balance Sheet: Well Funded, Net Debt Steady
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH23
NZ$'000
Year ended 31 March20232022
(restated*)
Current assets 89,85169,602
Cash4,7497,940
Non-current assets 53,46349,782
Total assets 148,063127,324
Current liabilities37,31719,160
Current interest-bearing liabilities 2,4584,000
Non-current liabilities 2,8202,766
Non-current interest-bearing liabilities 32,20033,200
Total liabilities 74,79565,016
Total equity 73,26962,308
Total liabilities and equity148,063127,324
•Net debt in line with last year, but higher than
1X EBITDA target due to:
-investment in for growth Australian sales
force and international distribution
-higher inventory amid (albeit easing)
pandemic and supply chain pressures
•Focus on bringing ratio back to 1X target level
in FY24.
*FY 2022 figures restated to reflect recognition of deferred tax asset in FY 2021

Cash Flow: AFT Remains Well Funded as Debt Reduction Continues
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH24
NZ$'000’s
Year ended 31 March20232022
(restated*)
Net cash from operating activities 11,62914,152
Net cash used in investing activities (9,177)(5,585)
Net cash used/(generated) from financing
activities
(6,978)(2,276)
Net increase/(decrease) in cash (4,526)(6,291)
Impact of foreign exchange on cash and cash
equivalents
(123)101
Opening cash and cash equivalents 7,9401,548
Closing cash and cash equivalents 3,2917,940
•Lower operating cashflow reflecting higher
working capital applied in line with revenue
growth and the need to manage supply chain
pressures.
•AFT fully funded growth investments from
internally generated cash
*FY 2022 figures restated to reflect reclassification of bank overdraft as cash and cash equivalents

AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH25
Summary and Outlook: Growth momentum expected to continue in FY24
•Ongoing rollout of Maxigesic and its line extensions in international markets and after this, products from our
expanded R&D pipeline.
•Targeting increased growth in International and Asia markets
•Expansion in the UK and E-commerce
•Organic growth and new product launches in ANZ markets
•Targeting increased R&D pipeline acquisitions with 3 projects under diligence
•Target of $200 million of rolling twelve-month stretch sales now in sight
•Operating profit guidance range of $22 million to $24 million. Expect licensing income (not included in
guidance) of at least $6 million on the launch of Maxigesic IV in the US, following expected FDA approval
•Guidance subject to decision on US Maxigesic Rapid commercialisationstrategy determination

SHAREHOLDER
QUESTIONS

RESOLUTIONS

Resolutions
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH28
Resolution 1: That the directors are authorised to fix the fees and
expenses of Deloitte as auditor for the 2024 financial year.

Resolutions
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH29
Resolution 2: That Marree Atkinson be re-elected as adirector of
AFT Pharmaceuticals Limited.

Proxies for the resolutions
AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH30
Resolution
For
Against DiscretionaryAbstain
1. Auditor fees and expenses86,170,16015,003473,17111,501
2. Re-election MarreeAtkinson86,182,67116,490466,2674,407

VOTING

GENERAL
BUSINESS

MEETING CLOSE

www.aftpharm.com

Australasian Product Portfolio
AFT has the #1 selling product (Maxigesic) in the Australian para-ibu
1
combo pain relief. AFT’s portfolio includes a
combination of 150 proprietary, branded and generic products which address the following therapeutic areas:
PainMaxigesic, ParaOsteo, ZoRubOA/HP, Fenpaed,
CombolieveDay/Night
EyecareHylo, Novatears, CromoFresh,
Opti-soothe Wipes/Mask, VitAPOS
VitaminsFerro-liquid, FerroTab, Ferro-F, Ferro-sachets,
Lipo VitC, Lipo VitD, CalciTab
AllergyLoraclear, Histaclear, Fexaclear, Levoclear,
Allersoothe, Lorapaed, Becloclear, Steroclear
GastrointestinalGastrosoothe/Forte, LaxTab, Micolette,
Nausicalm, DiaRelieve
DermatologyCrystaderm, Crystawash Hand Sanitizer, Crystasoothe,
ZoRub anti-chafing, Decazol, MycoNail
HospitalMaxigesic IV, Injectables
1
Paracetamol and Ibuprofen
35

PainMaxigesic
Medicated VitaminsFerro-sachets, Lipo VitC, Lipo VitD and
expanding pipeline – T Mall
DermatologyCrystawash Extend Hand Sanitizer, Hemptuary
HospitalMaxigesic IV, Injectables
AFT Asian Product Portfolio
AFT’s Asia portfolio includes a range of proprietary, branded and generic products which address the following therapeutic areas:
36

AFT Global Product Portfolio
AFT is building the global presence of its proprietary and patented products through its network of licensees and distributors.
It continues the development of its portfolio of repurposed medicines: Maxigesic, Pascomer, NasoSURF, CrystawashExtend and Crystaderm
PainMaxigesic oral dose forms
-Tablets
-Solution
-Hot drink sachet
-Rapid
-Cold and Flu
HospitalMaxigesic IV (intravenous)
NasoSurf– nasal nebuliserdrug delivery
DermatologyPascomer – selected territories
Crystawash extend – selected territories
Crystaderm – selected territories
1
Paracetamol and Ibuprofen
37

AFT was founded 23 years ago by Dr Hartley and Marree Atkinson. Since thenAFT has remained an Atkinson-family
controlled business and has grown organically into Australia and internationally.
The 2015 IPO raised funds to pursue a more aggressive (and loss-making) R&D-led growth strategy. AFT has now
returned to profitability as intended, as the company was prior to IPO.
History of AFT Pharmaceuticals
199720042005200920132014201520202019
2023
AFT founded by
Dr Hartley
and Marree
Atkinson
Development of
Maxigesic
commences
First sales into
Australia
Maxigesic
registered in New
Zealand and sales
commence
Maxigesic
registered in
Australia
AFT launches the
sale of products
into the SE Asian
market
$33m IPO to fund new
R&D development
programmes for
Maxigesic and other
proprietary products
AFT returns to profitability
following a significant
investment period funded
by the 2015 IPO
In FY20 AFT delivers
over $100m of
revenue and
operating profit
growth of 87%
Maxigesic
sales
commence
in Australia
AFT revenue reaches
$157 million, and the
company declares a
maiden dividend
38

Reconciliationof EBITDA to GAAP
1
Paracetamol and Ibuprofen
AFT’s standard profit measure prepared under New Zealand GAAP is net
profit after tax attributable to the owners of the parent
AFT has used the non-GAAP profit measures of EBITDA when discussing
financial performance in this document. AFT directors and management
believe that this measure provides useful information as they are used
internally to evaluate performance of business units, to establish operational
goals and to allocate resources.
Non-GAAP profit measures are not prepared in accordance with NZ IFRS
(New Zealand International Financial Reporting Standards) and are not
uniformly defined, therefore the non-GAAP profit measures reported in this
document may not be comparable with those that other companies report
and should not be viewed in isolation or considered as a substitute for
measures reported by AFT in accordance with NZ IFRS.
GAAP to Non-GAAP reconciliation
NZ$'000
Year ended 31 March
20232022
Net profit after tax attributable to owners
of the parent
10,65419,848
Less: Finance income(13)(4)
Add back: Interest costs 2,8732,435
Add back: Other finance loss/(gain)1,010(727)
Add back: Depreciation808828
Add back: Amortisation916260
Add back: Income tax expense/(benefit)5,145(1,163)
EBITDA21,39321,477
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www.aftpharm.com
FORMOREINFORMATION
DrHartleyAtkinson
ManagingDirector
Email: hartley@aftpharm.com
Malcolm Tubby
Chief Financial Officer
Email: malcolm@aftpharma.com
AFT Pharmaceuticals Limited
Level 1, 129 Hurstmere Road
Takapuna, Auckland 0622
New Zealand