Rua extends agreement with Nimbus Health

7
th
May 2024

FOR PUBLIC RELEASE
Rua Bioscience extends agreement with Nimbus Health in Germany

Tairawhiti, New Zealand – Rua Bioscience Limited (NZX: RUA) today announced the renewal of its
distribution agreement with Nimbus Health in Germany for a three-year term.
Rua signed their first distribution agreement with Nimbus Health in April 2020, and launched their first dried
flower products into Germany in April 2023.
"The renewal of our agreement with Nimbus Health not only solidifies our strong relationship, but also reflects
our shared dedication to providing high-quality medicinal cannabis products in this major international market,”
said Rua Bioscience CEO Paul Naske.
“This partnership has allowed us to make significant inroads into Germany, and we are excited about the
further opportunities that lie ahead."
The German medical cannabis market is the largest and most developed in Europe. Currently worth €454m,
it’s expected to be worth €749m by 2027
(1)
.
Regulatory changes that came into effect on 1
st
April 2024 are expected to significantly expand the market for
medicinal cannabis products in Germany. To meet this ever-increasing demand, Rua is planning to launch
new products in the coming months.
"Germany's evolving regulatory landscape presents a unique opportunity for growth," Mr Naske added. "With
our upcoming product launches, we are ideally positioned to cater to the heightened demand."
The continuation of the distribution agreement with Nimbus Health is a key pillar in Rua Bioscience's strategy
of commercialising their unique genetics on a global scale.

Source
(1) Bundesinstitut fϋr Arzneimittel und Medizinprodukte (BfArM), Proprietary analysis by Komand Consulting October
2023

ENDS

The person who authorised this announcement:

Paul Naske
Chief Executive Officer
paul.naske@ruabio.com
+64 21 445154

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Germany
The German medical cannabis market it the largest and most developed in
Europe, and often used as a benchmark for other EU countries in designing
new medical cannabis programs.
Recent changes on the 1
st
April 2024 by the German government to de-
schedule cannabis from the controlled narcotics list is seen as a positive move
making it easier for doctors to prescribe cannabis and thus a catalyst for
additional market growth.
Germany already has over 500 products listed for prescription. Despite the
competitive intensity, the market is still young with approximately only 7% of
the eligible medical cannabis patients being treated today.
Source: Bundesinstitut fϋr Arzneimittel und Medizinprodukte (BfArM), Komand Consulting October 2023,
€ 454
€ 488
€ 533
€ 591
€ 663
€ 749
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