Shareholder update - Rua reports on quarterly sales

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




FOR PUBLIC RELEASE

NZX Limited
Wellington

21 October 2024

Shareholder update

Kia ora koutou katoa,

Ko te pae tawhiti whaia kia tata, ko te pae tata whakamaua kia tina. Tena tatou e whakapono
ana ki tenei kaupapa. He mahi nui kei mua i ta tatou pakihi me te mea hoki, kua rite matou mo
aua mahi.

We are pleased to bring you the latest updates from Rua Bioscience as we continue to advance
our mission of creating cannabinoid-derived medicines that change people’s lives.

Revenue shoots up in FY25





We are delighted to report a significant sales increase, with Q1 FY25 unaudited sales reaching
$223k, compared to $86k in FY24. Following successful product launches in Germany, Australia
and New Zealand in the last quarter, sales are increasing. Notably, our legacy genetics have
been enthusiastically received in Australia, while Germany continues to show strong growth
following regulatory changes in April this year.
3
15
23
45
223
Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25
Revenue $000
MARKET UPDATE

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

Feedback from the German market suggests that demand is strong and will remain so for the
foreseeable future as German patients and doctors become more familiar with the new
regulations in place which remove cannabis from the narcotics schedule. In addition, in the last
week, the majority of doctors in Germany are now able to prescribe medical cannabis for
insurance reimbursement without securing prior approval of the health insurance
companies. This has the potential to further increase the market demand. This is perfect timing
for Rua as we will be introducing a new product into Germany before Christmas which is
expected to yield a strong following.

In addition, feedback from Australian doctors and patients is very favourable for our new dried
flower product produced from New Zealand legacy genetics. This is evidence that our strategy
of using NZ sourced legacy genetics will resonate with doctors and patients in our key
markets. Product differentiation is key in this very competitive market.

Closer to home, our first dried flower product in New Zealand has been well received and
growing as doctors and patients become familiar with the product. We expect to launch
another dried flower product to the market before Christmas.

We expect to see all markets continue to grow over the medium term as medicinal cannabis
gains acceptance and is understood as a legitimate, safe and efficacious treatment option in
our key markets. Importantly this means our sales revenue will continue to grow as we are now
firmly established in three key markets with strong revenue growth. In addition, we are
expected to launch Rua product in a fourth key market, United Kingdom, in the next two
months.

It is for these reasons that we expect FY25 revenue to show significant growth.

Further capital required for growth

To support this growth trajectory, Rua is undertaking a capital raise to secure funds for
expanding our international market presence. This is crucial to our success as the funds will be
used primarily for working capital and marketing activities.

The planned capital raise will facilitate our growth in international markets, allowing us to
strengthen our foothold and continue our plans of delivering health-focused solutions globally.

Details will be made available at the Annual Shareholders Meeting on 4
th
November, 2024.

Key meeting dates

Our Annual Shareholder Meeting is scheduled for Monday, 4
th
November, 2024. This meeting
will be held virtually, providing all shareholders the opportunity to participate conveniently from
their locations. Full details and participation instructions are available on our website
ruabio.com/events and social media.

Following the ASM, we invite you to our Community and Shareholder Open Day at our
Mangaoporo facility near Ruatorea on Tuesday, 5
th
November, 2024. This open day is an
excellent chance to engage with some of our board and management. We will be opening the
gates and providing tours through the facility to show case our legacy cannabis genetics

PO Box 1387, Gisborne 4040, Aotearoa New Zealand | 0800 RUABIO | www.ruabio.com
breeding and discovery programme. We will be sharing kai following the tour so please RSVP
to info@ruabio.com. More information can be found on our website ruabio.com/events and
social media.




Web site
ruabio.com/events

Facebook
www.facebook.com/ruabioscience

Linked In
www.linkedin.com/company/rua-bioscience




ENDS  
 
The person who authorised this announcement:

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