CVT Acknowledgement of Corrective Statement from A Bougen

21 October 2025

Comvita Acknowledgement of Corrective Statement from Alan Bougen


Comvita Limited (NZX: CVT) acknowledges the corrective statement issued by Comvita founder and shareholder,
Alan Bougen, on 21 October 2025, regarding comments made to certain media sources on the proposed Scheme of
Arrangement with Florenz.

The full text of Mr Bougen’s corrective statement is attached to this announcement.

Shareholders are encouraged to carefully consider the detailed information provided in the Scheme Booklet,
including the Directors’ Recommendation and the Independent Adviser’s Report on the merits of the Scheme.
The Board continues to unanimously recommend that shareholders vote in favour of the Scheme with Florenz, in
the absence of a Superior Proposal.


ENDS

For further information:
Bridget Coates | Comvita
bridget.coates@comvita.com

Media contact
Kate Walsh
021 858 619
kate@katewalsh.co.nz




Background information
Comvita (NZX:CVT) was founded in 1974/5, with a purpose to heal and protect the world through the natural
power of the hive. With a team of 400+ people globally, united with more than 1.6 billion bees, we are the global
market leader in Mānuka honey and bee consumer goods. Seeking to understand, but never to alter, we test and
verify all our bee-product ingredients are of the highest quality in our own government-recognised and accredited
laboratory. We are growing scientific knowledge on Mānuka trees, the many benefits of Mānuka honey and
propolis and bee welfare. We have planted millions of native trees, improving our natural ecosystems and
biodiversity, and mitigating climate change in conjunction with our focus on carbon emissions reduction, while
helping ensure the supply of high quality Mānuka honey. In 2023 Comvita was certified B Corp, a global community
of like-minded companies that strive to balance profit with purpose, seeking to use business as a force for good.
Comvita has operations in Australia, China, North America, Southeast Asia, and Europe – and of course, Aotearoa
New Zealand, where our bees are thriving.

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62542 \ 3449-2509-9584-2
ANNOUNCEMENT BY ALAN BOUGEN: STATEMENTS MADE IN RELATION TO
PROPOSED COMVITA SCHEME OF ARRANGEMENT
Following the release of the Comvita Scheme Booklet and Notice of Meeting (including the
Independent Adviser’s Report), I made certain public statements that were reported in the
NBR and BusinessDesk.
It has come to my attention that certain of those statements may have been ambiguous.
Therefore, I wish to make the following corrective statement:
“I am leading a group of shareholders and other interested parties who are working together
with the common purpose of opposing the proposed takeover of Comvita by Scheme of
Arrangement and to formulate and propose an alternative funding proposal that we believe
will be superior to the Florenz bid.
At this stage, we are in the process of formalising our syndicate and attempting to confirm
commitments from interested parties that would enable us to put a credible proposal to
Comvita.”
It is important I clarify that, as of today:
• It is correct that I have not provided Comvita with any information as to which
shareholders I am working with, and that no funding proposal has been provided to
Comvita by me or those I am working with.

• While I have received credible indications of an intent to vote ‘no’ to the proposed
Scheme of Arrangement, from shareholders who together hold in excess of 25% of the
shares on issue in Comvita, at present I do not hold binding commitments from these
shareholders nor am I in position to make a representation on their behalf.

• Our syndicate is not governed by legally binding documents nor have we made a legally
binding commitment to each other to participate in any funding proposal. We are
currently endeavouring to formalise our arrangements prior to the Scheme Meeting
scheduled for 15 November 2025.

• My intent remains to vote all shares I hold or control against the Scheme of
Arrangement, which at the present date constitute 3.36% of the shares on issue in
Comvita.

End.
Tuesday 21 October 2025