2024 Annual Meeting of Shareholders

Blis Technologies Limited: Ground Floor, 442 Moray Place, Dunedin Central 9016, PO Box 2208, Dunedin 9044, New Zealand
T:+64 3 474 0988 E: info@blis.co.nz W: www.blis.co.nz




28 August 2024
BLIS Te c h nologies Limited
Annual Shareholder Meeting 2024

Chair’s Address

Slide 1 - Introduction
Good morning, and welcome everyone to the BLIS Technologies Limited Annual Shareholder Meeting
for 2024. My name is Geoff Plunket, and I am Chair of the Board for BLIS Technologies.
On behalf of my fellow directors, our new Chief Executive, Scott Johnson and all the BLIS team it is
my pleasure to welcome you all here today in person and to those of you attending online. Welcome

Slide 2 – Voting and asking questions
Today we are providing both an in person and online attendance option for shareholders. It is
pleasing once again to have so many shareholders join us online today, and to see so many of you in
person.
When it comes to voting: For our shareholders in attendance here you may vote as usual on the
voting card provided to you at the registration desk when you arrived. For shareholders online, you
will be able to cast your vote online by pressing the “Get a voting card” button and validating yourself
using your shareholder or proxy number. Please note that only shareholders, proxy holders or
shareholder company representatives may vote.
Please refer to our virtual meeting online portal guide or contact the team at MUFG Corporate
Markets on 0800 200 220 if you require any assistance.
Shareholders online will also be able to ask questions by clicking the “ask a Question” button. I
encourage shareholders who have questions to send their questions through as soon as possible.
I am pleased to say that the meeting has been properly called and there is a quorum present.
We will be using slides during the meeting. For those of you online you will be able to see these and
follow along. They have also been posted to the NZX and are available on the BLIS website.
A quick Health & Safety note - for those of you here with us, in the unlikely event of an emergency
the building needs to be evacuated, please evacuate via the emergency exit doorways indicated.
Follow the signs to the main staircase and out to the front entrance by the nearest assembly point.

Slide 3 - Agenda
The agenda for this morning will include an overview from myself of the company’s performance for
the year to 31 March 2024. Scott Johnson, our CEO, will then provide you with a deeper review of
the results, and on progress against our strategic plan.
There will then be an opportunity for shareholders to ask questions. We will first take questions from
those in attendance here today and then any questions posted online that have not already been
covered by responses to previous answers.
Following this we will then move to the formal business of the meeting. At that point I will outline
the process for the discussion and voting on the three resolutions set out in the agenda.
At the meeting’s conclusion, for those of you here with us we would be delighted if you would join
the directors and the BLIS team for light refreshments and further discussions.

Slide 4 – Introductions
Before reviewing the company’s performance, I would first like to introduce our new CEO and the
Board. Their profiles are available on the BLIS Technologies website and are also included within the
annual report.
Scott Johnson – Appointed in January 2024, Scott is an experienced CEO with over 35 years of
experience in consumer and health and wellness sectors both internationally and within Australasia
with businesses such as IBM, Frucor-Suntory and the GO-Healthy Group.
M yse lf, Geoff Plunket – joined the Board in May 2018, held the role of chair since July 2021. CEO of
Port Otago from 2004 to 2017, currently an independent director on Port of Auckland.
Aimee McCammon – was appointed to the Board in October 2021, CEO of Pic’s Peanut Butter based
in Nelson, with a background in advertising, marketing and governance.
Dr Alison Stewart. Alison joined the board in September 2018. Alison brings to the board substantial
experience as a research and innovation leader. Alison is currently CEO of the Foundation for Arable
Research.
Dr Barry Richardson. Barry joined the board in 2018. Barry has a science background and brings both
BLIS specific and international biotechnology and nutritional dairy industry experience to the board.
Anita Johansen – CEO of Probi AB, joined the Board in January this year. Anita has a background in
pharmaceuticals and has held leadership positions in various global consumer healthcare companies
and is a board member of both the International Association of Probiotics (IPA) and IPA Europe.

Slide 5 - Results
It is pleasing to report that after two years of operating losses that BLIS Technologies has returned to
profitability. Profit for the year of $0.6m was achieved on revenue of $11.5m, which was 12.6%
higher than the previous year.
Revenue growth was achieved in our Business to Business (B2B) segment, with an 18% increase in
ingredient sales and royalty income. Revenue in the Business to Consumer (B2C) area was affected

by cost of living pressures on our customers and as a result revenue grew modestly at 1.6% on the
previous year.
The revenue growth combined with a tight control over costs resulted in an improved trading
performance. The Profit for the year of $0.6m compares with a Loss of $1.4m in the previous
financial year.
This year’s result reflects early success from the Company’s tighter strategic focus.
BLIS continues to be in a strong financial position with bank balances and short term deposits of
$8.3m.

Strategy
The Board and BLIS Leadership Team remain committed to the current strategy of B2B revenue
growth from ingredient sales and royalty income as the pathway to delivering sustained profitability.
We have updated the 3 year strategic plan for the business. This plan has a commercial focus
structured on working closely with key customers to enhance our value proposition, developing joint
business plans to capitalise on the opportunities in their respective markets. We will continue to
explore new opportunities in other markets where we can present a competitive offering.
R&D activities have been refocused on ensuring BLIS has appropriate regulatory approval in key
markets to support the ongoing commercialisation of BLIS’ two hero probiotic ingredients, BLIS K12™
and BLIS M18™.

Dividend payment
BLIS continues to enjoy financial stability with current cash balances of $8.3m.
With the return to profitability attention does turn to the ability of the Company to pay a dividend.
To consider making a distribution to shareholders, the board will need to see an estaBLIShed record
of sustainable profitability while holding sufficient cash reserves. At this stage the Company will not
be paying a dividend. The Board will keep this under review and will consider a dividend payment at
the appropriate time.

CEO Address
Slide 6 – CEO Address (Handover to Scott)
Thank you, Geoff,
On behalf of the Leadership Team, I would like to welcome the shareholders in the room here in
Dunedin and those online thank you for your interest and support of the company as it is integral to
our journey.

Slide 7 - BLIS Leadership Team
It is my pleasure to introduce the BLIS Leadership team, who collectively represent all functions of
the business. If relevant they will be available to respond to questions later.
Team, Please raise your hand, so people can see who you are.
Ash Childs – People and Culture Manager
Melissa Drysdale – Head of Quality
Jen Walker – CRO
Richard Wingham – CFO
Dr John Hale - CTO

Slide 8 – Probiotic Supplements Market Overview
To start the presentation today, I would like to share an overview of our total addressable market and
its projected growth over the next 7 years. The key point is with a projected compound annual
growth rate (CAGR ) of 13.49%, there continue to be favourable tailwinds in the space we play in, now
and into the future. In addition, the 2 biggest markets in the probiotic space are the USA and China
and they are both markets BLIS is focused on.
Slide 9 + 10 – Summary FY24 results
In FY24, the company revenue was $11.5m, which was 12.6 % growth on the prior year. Pleasingly the
EBITDA was $800k, which has been delivered after 2 years of losses. It is important to note that the
strategy reset has delivered a return to profitability.

Slide 10 - Summary FY24 results (channel split)
In terms of how this result was delivered for BLIS, there are some key metrics to share with you all.
Firstly, the B2B channel revenue grew 18.2% and the B2C channel grew a modest 1.6%. The B2B
channel growth was underpinned by strategic partnerships with key customers such as Probi and
BSP. As a result, royalty revenue grew 3.7X on last year.
Looking at the sub-channels with B2C, there were some very encouraging results with Amazon
growing year on year 21.8% on the back of the X (Twitter) post that highlighted a study that
suggested consumption of BLIS K12™ may help alleviate Covid-19 symptoms. NZ Pharmacy also grew
16.4% due to a successfully executed dental campaign, focussed promotional effectiveness and
working closely with our business partner on improving in-field sales execution. Revenue from BLIS’
e-commerce also increased by 16.5% through successful management of all aspects of the marketing
mix.
Slide 11 – FY24 Strategic Summary
Over the last 2 years, the BLIS strategy has been all about focus to deliver sustainable profitability. As
a leadership team we have continued to refine that focus and ensure it is relevant to the market and
the customers within them. This has led to an even tighter focus on our core product offerings of
BLIS K12™ and BLIS M18™ with the premise that we need to earn the right to introduce additional

new products on the base platform that our core delivers by working with our key business partners
in markets that have been assessed as attractive based on key criteria. Based on those strategic
choices, the next stage has been all about executional excellence through joint business planning
with customers such as Probi, BSP and Wilsons to name 3. Part of that process has been aligning on
key measures to assess our progress to delivering the results required for sustainable profitability. To
ensure, we seamlessly build on that base platform of growth and look to the future, emerging
countries such as India and Brazil are being invested in by the team spearheaded by our global key
account managers. It is important to note, given the tighter focus above, that we remain committed
to supporting existing customers in areas such as skincare.

Slide 12 – BLIS Strategy House
The image projected on the screen is the BLIS Strategic Framework. It is important to note that
throughout the process of the strategic plan refresh and its refinement, which has been all about
focussing on the right things first to deliver sustainable profitability, our Purpose, Vision, and Values
which were crafted based on input from everyone in the BLIS team have remained as a cornerstone.
For example, our ‘why’ or purpose is still about ‘developing breakthrough probiotic solutions for the
health and wellbeing of global customers’ through our vision of being a globally recognised partner
and leader in probiotic innovation. The way we do things within BLIS has been all about living and
breathing our values, which you can see as the base platform of this BLIS Strategic Framework. Eg
Our Mana, Customer First, make it Happen and One Team.
As part of our ESG commitment, this financial year we started pursuing B Corp Certification. Unlike
other certifications, B Corp Certification evaluates our entire social and environmental impact,
aligning well with our company values.

Slide 13 – Q1 Update and Outlook
Earlier this month we released our Q1 unaudited results, which saw revenue growth of 23% quarter
vs quarter a year ago and an EBITDA result of $458k.
Revenue for the 3 months to 30 June 2024 was $3.4M, an increase of $640k compared with the
same period LY.
Key drivers were:
• B2B Ingredient revenue up 23%
• Amazon revenue up 65%
• E-Commerce revenue up 80%.
The first quarter results continue a positive theme from LFY and provide a solid platform the
remainder of the FY, as we look to deliver on the objective of sustainable profitability.
The outlook for the rest of the year is for double digit growth to continue for topline revenue whilst
delivering an EBITDA result similar to LY, but with approximately $500k of China regulatory costs
contained within the FY25 P&L. This investment is key for our long-term growth in one of focus
markets.
A market update on our progress will be provided with the half-interim report.

Slide 14 - In summary
We feel positive and excited about the future and ensuring BLIS delivers the potential that it has. We
will continue to maintain a laser like focus on our core value proposition which is built around the
proven performance of BLIS K12™ and BLIS M18™. Scaling up those winning value propositions by
taking them to selected countries in conjunction with our business partners through aligned joint
business plans, which have key performance measures built into them is how we are collectively
executing with excellence to deliver the results required for all stakeholders. Based on that focused
strategy delivering sustained profitability, we will deliver targeted NPD, which will deliver additional
value on that base platform. None of this is possible without a committed team to execute the
strategic plan and to that end, the Leadership Team will continue to nurture our talent through
established development plans, so we maintain our great place to work culture.
With that, I will hand over to Geoff who will facilitate the questions section of the meeting.
Thank you.

---

28 AUGUST 2024
ANNUAL
SHAREHOLDER
MEETING
2024

1
Voting and asking questions
Question boxVoting Card
ATTENDEES QUESTION AND VOTING PROCESS

CHAIRPERSON’S ADDRESS
• Geoff Plunket
CHIEF EXECUTIVE OFFICER’S ADDRESS
• Scott Johnson
ORDINARY RESOLUTIONS
• That Geoff Plunket be re-elected as a Director
•
That Dr Barry Richardson be re-elected as a Director
•
That Anita Johansen be elected as a Director
•
Directors authorised to fix the auditors remuneration
OTHER BUSINESS
MEETING AGENDA
BUSINESS OF THE MEETING

BOARD OF DIRECTORS
GEOFFREY (GEOFF)
PLUNKET
Chair, Independent non-
executive director
Member of Audit and Risk
Committee and People and
Performance Committee
DR BARRY
RICHARDSON
Independent non-executive
director
Chair of Audit and Risk
Committee
ANITA JOHANSEN
Non-executive director
DR ALISON
STEWART
Independent non-executive
director
Chair of People and
Performance Committee
AMELIA (AIMEE)
MCCAMMON
Independent non-executive
director
Member of Audit and Risk
Committee

SUMMARY FY24
REVENUE
+12 . 6%
on prior year
NET PROFIT
AFTER TAX
+$2.0m
on prior year
$
11.5m$0.6m
EBITDA
+$1.4m
on prior year
$
0.8m
B2B
REVENUE
+
18.2
%
B2C
REVENUE
+
1.6
%

CEO ADDRESS
SCOTT JOHNSON
Chief Executive Officer

THE BLIS LEADERSHIP TEAM
Left to right:
Ashleigh Childs
People & Culture Manager
Melissa Drysdale
Head Of Quality
Richard Wingham
Chief Financial Officer (CFO)
Scott Johnson
Chief Executive Officer (CEO)
Jennifer Walker
Chief Revenue Officer (CRO)
Dr John Hale
Chief Technology Officer (CTO)

PROBIOTIC SUPPLEMENTS
MARKET OVERVIEW

SUMMARY FY24
REVENUE (NZ$M)EBITDA (NZ$M)
FY18FY18
$12.0
$9.0
$6.0
$3.0
$0.0
$12.0
$10.0
$8.0
$6.0
$4.0
$2.0
$0.0
-$2.0
FY19FY19FY22FY22FY23 FY24FY23FY24FY20FY20FY21FY21
$8.2m
$9.0m
$0.9m
$5.3m
-$0.4m
-$2.1m
$10.6m
$2.1m
$
10.6m
$
10.2m
$
11.5m
$1.0m
-$0.6m
$0.8m

REVENUE BY CATEGORY (NZ$M)
$10.0
$8.0
$6.0
$4.0
$2.0
$0.0
B2BB2BB2CB2C
SUMMARY FY24
CONTINUED
FY18FY19FY20FY23 FY24FY21FY22
REVENUE BY CATEGORY (NZ$M)
31%
FY23FY24
31%34%69%66%

FY24 STRATEGIC SUMMARY
- A FOCUS STRATEGY
Core product
offerings
Key markets
Key business
partnerships to
deliver the go-to-
market strategy
‘Executional
excellence’ through
joint business plans
to deliver results

Blis Strategic Framework
Developing breakthrough probiotic
solutions for the health and wellbeing of global consumers
Purpose
Where we have chosen
to play and win
Strategy
•Probi
•BSP
•Country Specifi c Distributors.
Eg
Tradepia - Japan
B2B
Emphasis on B2B revenue opportunities leveraging partners market strengths to drive scale.
Maintain our BLIS Probiotics B2C activity in selected markets with a focus on profitability
MARKETING & NPD
Country Specific
•Wilson’s – NZ
B2C
Vision
Globally recognised preferred partner and leader in probiotic innovation
Values
PEOPLE
PROCESS & SYSTEMS
SUPPLY CHAIN
Value Creators
Business Enablers
Key Business
Partners
BLIS STRATEGIC FRAMEWORK

• We are committed to delivering double digit revenue growth
•
EBITDA result similar to FY24
•
FY25 EBITDA will include approx $0.5m of China market r
egulatory costs
UNAUDITED RESULTS FOR THE QUARTER ENDING 30 JUNE 2024 (1Q25)
REVENUEEBITDA
$3.4m$0.5m
Revenue and EBITDA are in-line with our expectations
Q1 UPDATE
OUTLOOK

SUMMARY
Focus on CVP - core customer
value proposition.
SUMMARY
Scaling up our CVP in priority
markets with the right business
partners and joint business
plans.
Nurture Talent through
established development plans.
Targeted NPD based around�
BLIS’ CVP and deep consumer�
insights.
To deliver
susainable
growth
TAENTNPD
CVPPARTNERSHIPS
Scaling up our CVP in
priority markets with the
right business partners
and joint business plans.
Focus on CVP

- core customer
value proposition.
Tar
geted NPD based
around BLIS’ CVP and
deep consumer insights.
Nurture Talent
through established
development plans.

QUESTIONS
Wait for the microphone
STATE YOUR NAME AND WHETHER YOU ARE
A SHAREHOLDER OR PROXY HOLDER.

1
Voting and asking questions
Question boxVoting Card
ATTENDEES QUESTION PROCESS

RESOLUTIONS
Wait for the microphone
STATE YOUR NAME AND WHETHER YOU ARE
A SHAREHOLDER OR PROXY HOLDER.

1
Voting and asking questions
Question boxVoting Card
ATTENDEES VOTING PROCESS

RESOLUTION 1
THAT GEOFF PLUNKET BE RE-ELECTED
AS A DIRECTOR OF THE COMPANY
Wait for the microphone
STATE YOUR NAME AND WHETHER YOU ARE
A SHAREHOLDER OR PROXY HOLDER.

RESOLUTION 2
THAT DR BARRY RICHARDSON BE RE-ELECTED
AS A DIRECTOR OF THE COMPANY
Wait for the microphone
STATE YOUR NAME AND WHETHER YOU ARE
A SHAREHOLDER OR PROXY HOLDER.

RESOLUTION 3
THAT ANITA JOHANSEN BE ELECTED
AS A DIRECTOR OF THE COMPANY
Wait for the microphone
STATE YOUR NAME AND WHETHER YOU ARE
A SHAREHOLDER OR PROXY HOLDER.

RESOLUTION 4
THAT THE DIRECTORS BE AUTHORISED TO FIX THE
REMUNERATION OF THE AUDITORS FOR THE ENSUING YEAR
Wait for the microphone
STATE YOUR NAME AND WHETHER YOU ARE
A SHAREHOLDER OR PROXY HOLDER.

GENERAL
BUSINESS

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 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.
DISCLAIMER