Me Today Limited Annual Report

Annual
Report
FOR THE YEAR ENDED
30 JUNE 2026

Contents
CHAIR & CEO REPORT

DIRECTORS’ PROFILES

FINANCIAL STATEMENTS
Consolidated Statement of Profit and Loss and Other Comprehensive Income

Consolidated Statement of Changes in Equity

Consolidated Statement of Financial Position

Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

INDEPENDENT AUDITOR’S REPORT

CORPORATE GOVERNANCE STATEMENT

SHAREHOLDER & STATUTORY INFORMATION

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Chair &
CEO Report

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Chair & CEO Report
Me Today Brand and Warrant Funding
Me Today will continue to prioritise its strategy of
growth within the New Zealand market, supported
by opportunities internationally as explained further
below. Together with the focus on market growth,
the Group will continue to invest in new product
development and brand. The board, founding
shareholders and management remain committed
to growing the brand and believe in the foundation
created to build a successful global brand.
Entities associated with founding shareholders
Grant Baker and Stephen Sinclair have provided
irrevocable commitments to exercise a minimum
number of Series 1 Warrants in October 2026,
securing the Company a minimum of $1.59m of new
capital. This follows the bonus issue of Series 1 and
Series 2 Warrants to all shareholders in November
2025, each exercisable at 6 cents per share.
The commitments from our founding shareholders
reflect their ongoing confidence in the brand and
provide the Company with certainty of funding
to continue investing in product development,
marketing and international growth.

Me Today Brand Update
The Me Today strategy is to focus on New Zealand
as its core market, with success at home providing
a platform to grow internationally. Outside New
Zealand, the brand continues a targeted strategy
with the Chinese partnership as the biggest
opportunity, and priority markets in South East Asia,
the USA, Japan,the UAE and Ireland.
Alongside this market expansion, the brand
continues to focus on growing its presence through
above-the-line marketing activity and investment in
new product development. FY26 has seen continued
investment in marketing presence through radio and
outdoor advertising, together with investment online
through social media and other channels.
FY26 has seen the launch of 15 new products,
including the Me Today Potent Herbal liquid range,
new formats across capsules and resin, and the
brand’s first entry into powdered supplements with
five new functional powder blends. In July 2026,
the brand also launched new Daily and Sports
Electrolyte ranges. A further 20 new products are
planned for launch across the remainder of the 2026
calendar year, reflecting the ongoing importance of
a product-led strategy as consumers look for new
and trending ingredients.

New Zealand
Me Today’s New Zealand home market continues
to grow, with a new planogram introduced in
March 2026 lifting the brand’s visibility in store.
Scan data shows retail sales through our largest
NZ retail partner are up 85% in the 12 months to
19 August 2026 compared to the prior 12-month
period. Through the introduction of new products
and increased sales, the brand is looking to continue
this growth through an increased presence within its
channels. Retail partnerships remain important, as
a larger footprint in store will provide a continued
increase in sales.
Dear Shareholder,
Me Today’s financial results for the year ended 30 June 2026, presented in the annual report, reflect the
trading of the Me Today brand including the China Licensing Agreement and the agency business. The King
Honey results are presented as a discontinued operation in the financial statements.
The Group recorded net revenue of $6.53m and a net profit after tax of $2.66m, which included a $4.12m gain
recognised on the loss of control of King Honey. Excluding this gain, the loss before tax was $1.46m, compared
to a loss of $2.37m in FY25. The operating EBITDA loss was $1.23m, compared to $2.14m in FY25.
Gross revenue for the Group, before the cost of marketing services provided to a customer, was $7.96m,
an increase of 36% on FY25, and ahead of the guidance of $7.4m provided to the market in May 2026. This
was made up of Me Today brand and agency sales of $6.47m, licence fee revenue from China of $1.11m, and
$0.38m from other brands.
On 27 July 2025, the directors of King Honey requested that the Bank of New Zealand appoint receivers and
managers over its assets, having been unable to secure a viable funding solution or conclude a sale of the
business. King Honey was ring-fenced from the Me Today group in 2024, when an agreement was reached
with the Group’s lenders to remove Me Today from the King Honey debt security group, meaning Me Today
has no financial obligations in relation to King Honey’s debts.
Following the receivership, King Honey’s net liabilities are no longer the responsibility of the Group, resulting in
a $4.1m gain being recognised in the FY26 financial statements. While the decision to appoint receivers to King
Honey was not the preferred outcome, it has ultimately had a positive impact on the Group’s balance sheet,
which now shows net assets of $2.51m, compared to net liabilities of $2.34m at 30 June 2025. The Group held
cash of $1.83m at year end, compared to $1.26m in FY25.
The Me Today brand remains committed to Manuka honey, viewing it as an important and sought-after
product from New Zealand that attracts strong interest from international markets. Me Today continues to
source honey through its contract packing arrangements.

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Chair & CEO Report
China
In China, the partnership with our licensing partner
continues to expand. Licence fee revenue for the
year to 31 March 2026 was $1.1m, compared to
$0.45m in the prior year, reflecting the move to a
revenue-based fee structure. During the year our
partner achieved the revenue targets required
to increase its ownership of the Me Today China
trademark on two occasions, taking its total
ownership to 40%. The focus in China includes
promoting Me Today across the Chinese TikTok
platform, Douyin, and expanding further into other
online platforms and direct-to-consumer sales
models.

South East Asia
Me Today has signed an exclusive distribution
agreement covering Singapore, Malaysia, Thailand
and Vietnam, with minimum sales targets over a
five-year period. The launch is occurring first in
Singapore, with an opening purchase order for ten
products fulfilled between June and August 2026.
Malaysia is expected to follow in the 2027 calendar
year, with the remaining markets progressing
through registration thereafter.

Other Markets
Outside New Zealand, China and South East Asia,
Me Today continues to focus on opportunities in the
USA, Japan, the UAE and Ireland. The USA market
continues to grow with a focus on both offline and
online channels. The offline business is Manuka
honey focused, with orders of $1.06m during the
year in the grocery and consumer retail channels.
In Japan, Me Today continues to sell Manuka honey
with an established partner.
Grant Baker
Chairman
Stephen Sinclair
CEO
The board would like to thank shareholders for their support over the past year, which has been an exciting
year of growth for the brand. The board would also like to thank our employees and suppliers for their hard
work and support during the 2026 financial year. The board, founding shareholders and management are
excited by the platform created for the brand and look forward to the continued growth and opportunities in
2027 and beyond.
This annual report is dated 25 September 2026 and is signed on behalf of the Board by:
Directors’ Profiles

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Chair & CEO Report

Directors’
Profiles

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Directors’ Profiles
Grant Baker
NON-EXECUTIVE CHAIRMAN
Appointed to the Board, March 2020
Grant Baker has wide experience at a senior level in both public and private
New Zealand companies. He is currently the chairman of Turners Automotive
Group, a position he has held for more than 17 years. He was a cofounder of
The Business Bakery and has a number of successes under his belt, including
being chairman of both 42 Below vodka and Trilogy International. 42 Below
was sold to Bacardi in 2006, and Trilogy was sold to CITIC Group. Grant is
also a cancer survivor and has a strong interest in the health and wellbeing
sector. He was the founder and Chairman of The Gut Cancer Foundation, a
position he held for more than 10 years.
Grant is not considered to be an independent director under the NZX Listing
Rules as The Baker Investment Trust No 2 of which he is a Trustee is a
substantial product holder of Me Today.
Michael Kerr
FOUNDER / EXECUTIVE DIRECTOR
Appointed to the Board, March 2020
Michael holds a Bachelor of Commerce degree, majoring in marketing
and management, from the University of Auckland. Michael has worked in
sales and marketing roles for several local and multinational businesses.
More recently he was responsible for establishing the Swisse brand in New
Zealand across multiple retail channels, and was the general manager of
the skincare brand, Trilogy. Michael’s career spans 25 years, in which time
he has developed a wealth of knowledge both locally and internationally of
how to create and grow brands in the Health and Wellness space.
Michael is not considered to be an independent director under the NZX
Listing Rules as he is an employee, and M & N Kerr Holdings Limited of
which he is a director, is a substantial product holder of Me Today.
Stephen Sinclair
CHIEF EXECUTIVE OFFICER / EXECUTIVE DIRECTOR
Appointed to the Board, March 2020
Stephen is a Chartered Accountant, and spent the early part of his
career with PriceWaterhouseCoopers. In 1999 he started working with
Grant Baker and since then has been involved with numerous successful
startups, including 42 Below, Ecoya and Trilogy, and was involved in the
recapitalisation of Dorchester Pacific which is now the Turners Automotive
Group.
Stephen is not considered to be an independent director under the NZX
Listing Rules as he is the Chief Executive Officer. Also The Sinclair Investment
Trust of which he is a Trustee, is a substantial product holder of Me Today.

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Directors’ Profiles
Hannah Barrett
INDEPENDENT DIRECTOR
Appointed to the board, March 2020
Hannah has a Bachelor of Commerce degree, majoring in commercial
law and accounting, from Victoria University and is a qualified Chartered
Accountant. Hannah spent three years working at PricewaterhouseCoopers
in the Financial Advisory team working on assignments for global companies
as well as New Zealand based businesses and individuals. Hannah also runs
her own business specialising in digital consulting and marketing. Hannah
supports a number of charities and is an ambassador for Sweet Louise.
Roger Gower
INDEPENDENT DIRECTOR
Appointed to the Board, July 2008
Roger has wide experience as a company executive, director and Chairman
in both public and private companies. He is currently Chairman of
PrimePort Timaru Limited. Roger had a corporate career in logistics and
transportation; he has a BCom from the University of Auckland, an MBA from
Massey University and an MPhil from the University of Cambridge.
Antony V
riens
INDEPENDENT DIRECTOR
Appointed to the board, March 2020
Antony is a seasoned executive with a long career in health and financial
services across New Zealand, Australia and Asia. He is currently an
Independent Director of Turners Automotive Group and Chairman of
Autosure Insurance Limited, Turners’ insurance subsidiary.
Antony also serves as Chairman of the Gut Cancer Foundation and is actively
involved in developing cancer support programmes.
A medical doctor by training, Antony has a strong interest in wellness
and nutrition. He is currently working on wellness and disease prevention
programmes across Australia and New Zealand.
In addition to his medical degree, Antony holds an MBA from the University
of Auckland, with a focus of international business and innovation.

Financial
Statements
FOR THE YEAR ENDED 30 JUNE 2026

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Financial Statements
Consolidated Statement of Profit or Loss and
Other Comprehensive Income
FOR THE YEAR ENDED 30 JUNE 2026
Note
2026
NZ$000
2025*
NZ$000
Continuing operations
Revenue
5
6,5334,798
Changes in inventories of finished goods and work in progress12(3,319)(2,897)
Selling and marketing expenses(1,542)(1,836)
Distribution expenses(499)(574)
Administrative and other expenses(2,516)(1,732)
Finance income2152
Finance expenses6(140)(178)
Loss before income tax(1,462)(2,367)
Income tax expense8--
Loss for the year from continuing operations(1,462)(2,367)
Discontinued operations
Profit/(loss) from discontinued operations, net of tax214,122(3,649)
Profit/(loss) for the year2,660(6,016)
Other comprehensive income
Items that may be reclassified subsequently to profit or loss
Exchange differences on translation of foreign operations1667
Total comprehensive income/(loss) for the year2,676(5,949)
Profit/(loss) for the year attributable to:
Owners of the Company2,660(6,016)
Non-controlling interests18.1--
 2,660(6,016)
Total comprehensive income/(loss) for the year attributable to:
Owners of the Company2,676(5,949)
Non-controlling interests18.1--
2,676
(5,949)
* Re-presented. Refer note 2.3
Earnings/(loss) per Share
Basic and diluted earnings/(loss) per share (NZ$)
From continuing operations9(0.018)(0.044)
From continuing and discontinued operations90.051(0.067)
The accompanying notes form part of these consolidated financial statements and should be read in conjunction with them.

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Financial Statements
Consolidated Statement of Changes in Equity
FOR THE YEAR ENDED 30 JUNE 2026

Share
capital
NZ$000
Accumulated
losses
NZ$000
Warrant
reserve
NZ$000
Foreign
currency
translation
reserve
NZ$000
Attributable
to owners of
the Company
NZ$000
Non-
controlling
interests*
NZ$000
Total
equity
NZ$000
At 30 June 202455,333(51,655)-(72)3,606-3,606
Total comprehensive income
Loss for the year
-
(6,016)--
(6,016)
-
(6,016)
Other comprehensive income---67
67
-
67
At 30 June 202555,333(57,671)-(5)(2,343)-(2,343)
Total comprehensive income
Profit for the year-2,660--
2,660-2,660
Other comprehensive income---16
16
-
16
Transactions with owners
Shares issued during the year
(note 18)
2,340---
2,340
-
2,340
Less: share issue costs(163)---
(163)
-
(163)
Warrants issued during the
year (note 18.2)
(284)-284-
-
-
-
At 30 June 202657,226(55,011)284112,510-2,510
*Refer note 18.1
The accompanying notes form part of these consolidated financial statements and should be read in conjunction with them.

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Financial Statements
Consolidated Statement of Financial Position
AS AT 30 JUNE 2026
Note
2026
NZ$000
2025*
NZ$000
ASSETS
Current assets
Cash and cash equivalents101,8331,259
Trade and other receivables112,2371,794
Inventory122,65911,192
Taxation receivables8847
Total current assets6,81714,292
Non-current assets
Property, plant and equipment1331654
Right-of-use asset14.130683
Intangible assets15174171
Total non-current assets511908
Total assets7,32815,200
LIABILITIES
Current liabilities
Trade and other payables162,2521,683
Lease liabilities14.26663
Borrowings17-15,760
Total current liabilities2,31817,506
Non-current liabilities
Lease liabilities14.225037
Borrowings172,250-
Total non-current liabilities2,50037
Total liabilities4,81817,543
Net assets2,510(2,343)
EQUITY
Share capital1857,22655,333
Accumulated losses(55,011)(57,671)
Warrant reserve18.2284-
Foreign currency translation reserve11(5)
Equity attributable to owners of the Company2,510(2,343)
Non-controlling interests18.1--
Total equity2,510(2,343)
* Re-presented. Refer note 2.3
The accompanying notes form part of these consolidated financial statements and should be read in conjunction with them.
These financial statements were approved by the Board on 26 August 2026.
Signed on behalf of the Board by:
Grant Baker
Chairman

Stephen Sinclair
CEO

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Financial Statements
Consolidated Statement of Cash Flows
FOR THE YEAR ENDED 30 JUNE 2026
Note
2026
NZ$000
2025*
NZ$000
Cash flows from operating activities
Cash used in continuing operations
Receipts from customers5,842 5,590
Payments to suppliers and employees(7,082)(7,737)
Interest received21 54
Income tax paid(41)(26)
Cash used in discontinued operations
Receipts from customers116 2,943
Payments to suppliers and employees(168)(1,761)
Net cash used in operating activities
19
(1,312)(937)
Cash flows from investing activities
Cash used in continuing operations
Payments for intangibles15(82)(38)
Payments for property, plant and equipment13(25)-
Cash from discontinued operations
Net cash disposed of in discontinued operations21.1(48)-
Proceeds from sale of property, plant and equipment- 5
Proceeds from sale of assets held for sale- 77
Net cash (used in)/from investing activities(155)44
Cash flows from financing activities
Cash from continuing operations
Proceeds from issue of share capital182,340 -
Share capital issue costs(163)-
Proceeds from bank borrowings17, 202,250 -
Repayment of principal on borrowings17, 20(2,250)-
Interest paid on borrowings(136)(175)
Payment of lease liabilities20(12)(90)
Interest paid on lease liabilities20(4)(3)
Cash used in discontinued operations
Proceeds from bank borrowings20- 190
Interest paid on borrowings20- (430)
Payment of lease liabilities20- (236)
Interest paid on lease liabilities20- (8)
Net cash flows from/(used in) financing activities2,025 (752)
Net increase/(decrease) in cash and cash equivalents558 (1,645)
Cash and cash equivalents at the beginning of the year1,259 2,837
Effect of foreign exchange rates and other movements16 67
Cash and cash equivalents at the end of the year
10
1,833 1,259
* Re-presented. Refer note 2.3
The accompanying notes form part of these consolidated financial statements and should be read in conjunction with them.

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Financial Statements
Notes to the Consolidated Financial Statements
FOR THE YEAR ENDED 30 JUNE 2026
1. GENERAL INFORMATION
Me Today Limited (‘Me Today’ or ‘the Company’) is a limited liability company incorporated and domiciled in
New Zealand.
These financial statements are for Me Today and its subsidiaries (together ‘the Group’). Me Today is the legal
holding company for the Group. Details of subsidiary companies and their principal activities are set out in
note 22.
liquidators. The financial results of the King Honey
group are separately disclosed in these financial
statements as discontinued operations as a result
of King Honey being placed into receivership and
liquidation (note 21.1). In accordance with the
requirements of NZ IFRS 5 Non-Current Assets Held
for Sale and Discontinued Operations, comparative
information for these operations disclosed in the
Consolidated Statement of Profit or Loss and
Other Comprehensive Income and Consolidated
Statement of Cash Flows have also been re-
presented separately as discontinued operations.
2.4. Restatement of King Honey
basis of preparation and
measurement assessment
In preparing the 30 June 2026 consolidated financial
statements, the Directors have reconsidered
the requirements of NZ IAS 10 Events after the
Reporting Period, NZ IAS 1 Presentation of Financial
Statements, NZ IAS 2 Inventories and NZ IAS 36
Impairment of Assets, NZ IAS 8 Accounting Policies,
Changes in Accounting Estimates and Errors in
relation to the accounting applied to King Honey at
30 June 2025 and the subsequent appointment of
receivers and liquidators before the 30 June 2025
financial statements were authorised for issue. The
appointment of receivers and liquidators before the
30 June 2025 financial statements were authorised
for issue provided additional evidence relevant to
the measurement and recoverability of King Honey’s
assets and liabilities at 30 June 2025.
The Directors reaffirmed their conclusion in
preparing the 30 June 2025 consolidated financial
statement, that King Honey remained controlled by
the Group at 30 June 2025 because no receiver or
liquidator had been appointed at that date and no
legal or governance mechanism had transferred
decision-making authority away from the Group.
It was correct for King Honey to therefore remain
consolidated at 30 June 2025.
The Directors also reaffirmed that King Honey did
not meet the criteria to be classified as held for sale
at 30 June 2025, as completion of a sale was not
highly probable at that date.
2. BASIS OF PREPARATION
2.1. Basis of measurement
The consolidated financial statements have been
prepared on a historical cost basis. Historical
cost is generally based on the fair value of the
consideration given in exchange for goods and
services.
The consolidated financial statements are
presented in New Zealand dollars which is the
Company’s functional and Group’s presentation
currency, rounded to the nearest thousand dollars
unless otherwise stated.
2.2. Statement of compliance
and reporting framework
The consolidated financial statements have been
prepared in accordance with Generally Accepted
Accounting Practice in New Zealand (‘NZ GAAP’).
The Group is a for-profit entity for the purposes of
complying with NZ GAAP. The consolidated financial
statements comply with New Zealand Equivalents
to IFRS Accounting Standards (‘NZ IFRS’), IFRS
®

Accounting Standards, and other applicable
New Zealand Financial Reporting Standards as
appropriate for for-profit entities.
The Company is an FMC reporting entity under
the Financial Markets Conduct Act 2013. These
consolidated financial statements have been
prepared in accordance with the requirements of
the Financial Markets Conduct Act 2013 and the NZX
Main Board Listing Rules.
2.3. Re-presentation of
comparative information
On 27 July 2025 the directors of King Honey Holdings
Limited and King Honey Limited (‘King Honey’), both
wholly-owned subsidiaries of Me Today, requested
that the Bank of New Zealand appoint receivers
and managers over the assets of each subsidiary
(note 21). Simultaneously, the directors appointed

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Financial Statements
The appointment of receivers and liquidators
before the 30 June 2025 financial statements were
authorised for issue provided evidence that, by the
date of authorisation, King Honey was no longer
a going concern. Accordingly, the Directors have
reassessed their previous position which was to
consider going concern at a Group level, and
concluded that the assets and liabilities of King
Honey should have been measured at 30 June 2025
on a basis consistent with their expected recovery
or settlement in the receivership and liquidation
process.
The Directors have therefore reassessed the
carrying amounts of King Honey’s assets and
liabilities at 30 June 2025 by reference to the
circumstances existing at that date and information
available before authorisation of those financial
statements, including expected recovery or
settlement through the receivership and liquidation
process. This matter has been addressed through
re-presentation and explanatory disclosure.
The Directors have concluded that no material
adjustment is required to the 30 June 2025 reported
balances. The additional disclosure explains the
judgement applied to King Honey at 30 June 2025,
including the basis for retaining consolidation at
that date, not classifying King Honey as held for
sale, and considering the expected recovery of
assets following the subsequent appointment of
receivers and liquidators.
Property, plant and equipment
Management reassessed the recoverable amount
of King Honey property, plant and equipment at 30
June 2025 in light of the financial pressure affecting
King Honey and the subsequent receivership and
liquidation.
In the 30 June 2025 an impairment charge was
recognised to write down assets where the
recoverable amount was below carrying amount.
Leasehold improvements and hive assets were
written down to nil, while residual amounts were
retained for assets that management assessed as
having recoverable value through expected use,
sale or realisation. The remaining property, plant
and equipment balance included motor vehicles
and other residual asset classes. The fair value of
motor vehicles was reassessed using third-party
information. The Directors reaffirm that the motor
vehicle carrying values recognised in the 30 June
2025 financial statements were appropriate. Other
remaining property, plant and equipment asset
classes were also reassessed, and the Directors
concluded that any difference between carrying
amount and recoverable amount was not material
to the consolidated financial statements.
The Directors have judged that the property, plant
and equipment classification as non-current assets
at 30 June 2025 remains appropriate, as the assets
were not classified as held for sale at this date.
This classification does not affect the separate
impairment assessment, which was performed by
reference to recoverable amount and the expected
recovery of the assets in the circumstances known
before authorisation of the financial statements.
Inventory
The Directors concluded that no material change
to the inventory balance was required. The King
Honey inventory net realisable value assessment
at 30 June 2025 was based on market values for
honey inventory in its current state, principally
honey held in drums, rather than forecast sales of
finished goods through normal trading channels.
The Directors consider this basis to be materially
consistent with the expected manner of recovery
of the inventory following the receivership and
liquidation and with the best available evidence of
recoverable value before the financial statements
were authorised for issue.
King Honey is presented as a discontinued operation
in the year ended 30 June 2026, with its assets
and liabilities derecognised from the Group’s
consolidated statement of financial position as
disclosed in note 21.
3. MATERIAL ACCOUNTING
POLICY INFORMATION
The material accounting policies adopted are
set out below. There have been no changes in
accounting policies since the previous reporting
date unless otherwise stated.
3.1. Principles of consolidation
The consolidated financial statements incorporate
the financial statements of the Company and
entities controlled by the Company.
All intragroup assets and liabilities, equity, income,
expenses and cash flows relating to transactions
between members of the Group are eliminated in
full on consolidation.
Non-controlling interests represent the equity
in subsidiaries not attributable, directly or
indirectly, to the Company. They are presented
separately within equity in the Consolidated
Statement of Financial Position. Those interests of
non-controlling shareholders that are ownership
interests entitling their holders to a proportionate
share of net assets upon liquidation. The carrying
amount of non-controlling interests is the amount
of those interests at initial recognition plus the
non-controlling interests’ share of subsequent
changes in equity.
Changes in the Group’s interests in subsidiaries
that do not result in a loss of control are accounted
for as equity transactions. Gains or losses arising
from changes in ownership interests are recognised
directly in equity.

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Financial Statements
3.2. Revenue recognition
The Group recognises revenue from the following
major sources:
• sale of goods;
• agency services; and
• licencing fees.
Revenue is measured based on the consideration to
which the Group expects to be entitled in a contract
with a customer and excludes amounts collected on
behalf of third parties, such as goods and service
tax and customs duties.
3.2.1. Sale of goods
The Group sells goods such as health and wellbeing
products, and honey products. The Group considers
the performance obligation is satisfied when control
of the goods has transferred, being when the goods
have been delivered to the customer. Revenue
derived from the sale of goods is recognised at the
point in time the performance obligation is satisfied.
Marketing payments paid to a customer for the
purchase of health and wellbeing products, are
treated as a reduction in revenue.
3.2.2. Agency services
For revenues derived from agency services, where
the Group acts as a sales agent for other health
and wellness brands, the Group considers its
performance obligations are satisfied over time,
on the basis that agency services are provided
and consumed by the customer on a simultaneous
basis, and so will recognise the related revenue as
the performance obligation is satisfied. Revenue is
measured on an output method basis.
3.2.3. Licencing fees
The Group receives a licence fee for the use of the
Me Today brand in China. Fees are earned as a
percentage of sales generated under the licence.
The Group considers its performance obligations
are satisfied over time over the term of the licence
agreement and as it provides branding support.
3.3. Income Tax
Income tax expense comprises both current and
deferred tax.
3.3.1. Current tax
The tax currently payable is based on taxable
profit for the period. Taxable profit differs from
‘profit before tax’ as reported in the consolidated
statement of profit or loss and other comprehensive
income because of items of income or expense that
are taxable or deductible in other periods and items
that are never taxable or deductible.
3.3.2. Deferred tax
Deferred tax is recognised on temporary differences
between the carrying amounts of assets and
liabilities in the financial statements and the
corresponding tax bases used in the computation of
taxable profit.
Deferred tax liabilities are generally recognised
for all taxable temporary differences except for
the initial recognition of an asset or liability in a
transaction which is not a business combination
and at the time of the transaction affects neither
accounting or taxable profit. Deferred tax assets are
recognised for all deductible temporary differences
to the extent that it is probable that taxable profits
will be available against which those deductible
temporary differences can be utilised. Such
deferred tax assets and liabilities are not recognised
if the temporary difference arises from the initial
recognition (other than in a business combination)
of assets and liabilities in a transaction that affects
neither the taxable profit nor the accounting profit.
3.4. Goods and services tax
Revenue, expenses, assets and liabilities are
recognised net of the amount of goods and services
tax (GST) except:
• where the amount of GST incurred is not
recovered from the taxation authority, it is
recognised as part of the cost of acquisition of
an asset or as part of an item of expense; or
• for receivables and payables, which are
recognised inclusive of GST.
3.5. Inventories
Inventories are stated at the lower of cost and net
realisable value. Costs of inventories are determined
on a first-in-first-out basis. Net realisable value
represents the estimated selling price for inventories
less estimated costs of completion and costs
necessary to make the sale.
3.6. Leasing
The Group recognises a right-of-use asset and a
corresponding lease liability with respect to all lease
arrangements in which it is the lessee, except for
short-term leases (defined as leases with a lease
term of 12 months or less) and lease of low value
assets.
The lease liability is initially measured at the
present value of the future lease payments,

me | today annual report
17
Financial Statements
discounted by using the rate implicit in the lease. If
this rate cannot be readily determined, the Group
uses its incremental borrowing rate. The lease
liability is measured at amortised cost using the
effective interest method. It is remeasured if the
Group changes its assessment of whether it will
exercise an extension or termination option, with
a corresponding adjustment made to the carrying
value of the right-of-use asset.
The right-of-use assets comprise the initial
measurement of the corresponding lease liability.
They are subsequently measured at cost less
accumulated depreciation and impairment losses.
Right-of-use assets are depreciated over the
shorter period of lease term and the useful life of
the underlying asset.
3.7. Property, plant and
equipment
Property, plant and equipment are stated at cost
less accumulated depreciation and accumulated
impairment losses.
Depreciation is recognised so as to write off the
cost of assets less their residual values, over their
useful lives using the diminishing value method.
The estimated useful lives, residual values and
depreciation method are reviewed at the end
of each reporting period, with the effect of any
changes in estimate accounted for on a prospective
basis.
The following depreciation rates are used in the
calculation:
Plant, vehicles and equipment6% - 67%
Office equipment and furniture10% - 50%
Leasehold improvements6% - 25%

An item of property, plant and equipment is
derecognised upon disposal or when no future
economic benefits are expected to arise from the
continued use of the asset.
3.8. Intangible assets
Acquired intangible assets with finite useful lives
are carried at cost less accumulated amortisation
and accumulated impairment losses. Amortisation
is recognised on a straight-line basis over their
estimated useful lives. Intangible assets with
indefinite useful lives that are acquired separately
are carried at cost less accumulated impairment
losses.
The following amortisation rates are used in the
calculation:
Website50%
Trademarks & domainsindefinite useful life
3.9. Financial instruments
The Group’s financial assets at amortised cost
include cash and cash equivalents and trade
receivables. Cash and cash equivalents include cash
in hand and deposits held on call with banks.
Financial liabilities include trade and other payables,
and borrowings.

3.10. Discontinued operations
On 27 July 2025 the directors of King Honey Holdings
Limited and King Honey Limited (‘King Honey’), both
wholly-owned subsidiaries of Me Today, requested
that the Bank of New Zealand appoint receivers
and managers over the assets of each subsidiary
(note 21). Simultaneously, the directors appointed
liquidators. The financial results of the King Honey
group are separately disclosed in these financial
statements as discontinued operations as a result
of King Honey being placed into receivership and
liquidation (note 21.1). In accordance with the
requirements of NZ IFRS 5 Non-Current Assets Held
for Sale and Discontinued Operations, comparative
information for these operations disclosed in the
Consolidated Statement of Profit or Loss and Other
Comprehensive Income and Consolidated Statement
of Cash Flows have also been re-presented
separately as discontinued operations.
3.11. Foreign currency translation
Transactions entered into by Group entities in a
currency other than the currency of the primary
economic environment in which they operate (their
“functional currency”) are recorded at the rates
ruling when the transactions occur.
Foreign currency monetary assets and liabilities are
translated at the rates ruling at the reporting date.
Exchange differences arising on the retranslation
of unsettled monetary assets and liabilities are
recognised immediately in profit or loss, except for
foreign currency borrowings qualifying as a hedge
of a net investment in a foreign operation, in which
case exchange differences are recognised in other
comprehensive income and accumulated in the
foreign exchange reserve along with the exchange
differences arising on the retranslation of the foreign
operation.
For the purpose of presenting consolidated
financial statements, the assets and liabilities of
the Group’s foreign operations are translated at
exchange rates prevailing on the reporting date.
Income and expense items are translated at the
average exchange rates for the period. Exchange
differences arising, if any, are recognised in other
comprehensive income and accumulated in a foreign
exchange translation reserve.

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18
Financial Statements
3.12. Application of new and
revised New Zealand IFRS
Accounting Standards
All new and amended standards were implemented
and the impact deemed not to be material.
The Group has not early adopted any standards,
interpretations or amendments that have been
issued but are not yet effective.
NZ IFRS 18 Presentation and Disclosure in Financial
Statements, issued in May 2024, is effective for
annual reporting periods beginning on or after
1 January 2027, and entities can early adopt
this accounting standard. NZ IFRS 18 sets out
requirements for the presentation and disclosure of
information in general purpose financial statements
to help ensure they provide relevant information
that faithfully represents an entity’s assets, liabilities,
equity, income and expenses.
The Group is yet to assess NZ IFRS 18’s full impact.
The Group intends to apply the standard when it
becomes mandatory from 1 July 2027.
There are no other new or amended standards that
are issued but not yet effective, that are expected to
have a material impact on the Group.
4. CRITICAL ACCOUNTING
ESTIMATES AND
JUDGEMENTS
In the application of the Group’s accounting policies,
which are described in note 3, the directors of the
Group are required to make judgements, estimates
and assumptions about the carrying amounts of
assets and liabilities that are not readily apparent
from other sources. The estimates and associated
assumptions are based on historical experience and
other factors that are considered to be relevant.
Actual results may differ from these estimates.
The estimates and underlying assumptions are
reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period
in which the estimate is revised if the revision affects
only that period, or in the period of the revision and
future periods if the revision affects both current
and future periods. Below are the critical accounting
judgements.
4.1. Going concern
The consolidated financial statements have been
prepared on a going concern basis, which assumes
that the Group has the intention and ability to
continue its operations for the foreseeable future.
The Group incurred an after-tax loss from
continuing operations of $1.5 million in the year to
30 June 2026 (30 June 2025: $2.4 million loss from
continued operations). The Group’s net cash outflows
from continuing operations’ operating activities
during the year was $1.3 million (30 June 2025: $2.4
million).
At the reporting date the Group had cash of $1.8
million (2025: $1.3 million), working capital of $4.5
million (2025: negative $3.2 million) and net assets of
$2.5 million (2025: $2.3 million net liabilities).
At 30 June 2026 the Group had a bank loan of $2.25
million (30 June 2025: the Group had fully drawn
down $2.7 million of its bank overdraft facility, had
bank loans of $7.3 million and a subordinated note
payable of $5.8 million).
Me Today Limited is removed from the debt security
group security arrangements of the King Honey
group which has been placed into receivership
and liquidation (note 21) and has no obligations in
relation to the debts of the King Honey group.
The major shareholders of Me Today remain
committed to supporting the growth and ongoing
investment required to expand the brand. The
trustees of the Baker Investment Trust No 2 and
the trustees of the Sinclair Investment Trust, which
are entities associated with Grant Baker and
Stephen Sinclair respectively, have each provided
the Company with an irrevocable commitment to
exercise a minimum number of warrants during the
October 2026 exercise period (notes 18.2 and 24.3).
The trustees of the Baker Investment Trust No 2 have
committed to exercise a minimum of 18,028,803
Series 1 warrants and the trustees of the Sinclair
Investment Trust have committed to exercise a
minimum of 8,426,751 Series 1 warrants. The Series
1 warrants are exercisable between 1 October 2026
and 30 October 2026 at an exercise price of 6 cents
per share.
Notwithstanding the ongoing performance of the
business, the Directors are satisfied that based
on their review of the Group’s current financial
forecasts, the continued support of the BNZ and
with the available cash resources and shareholder
commitment, that, during the 12 months after
the date of signing these consolidated financial
statements, there will be adequate cash available to
meet the financial obligations of the Group as they
arise. In forming this view the Directors have also
considered the Company’s current capital structure,
including the issued Series 1 and Series 2 warrants
(note 18.2) and the potential to access future capital
investment.
The Directors acknowledge that whilst the Group
continues to build commercial relationships with
new and existing customers future looking forecasts
are inherently uncertain. The Directors consider that
the Group’s current cash balances provide it with
sufficient headroom should it be required if sales or
cash forecasts are not achieved.
For this reason, the Board considers the adoption
of the going concern basis in preparing the
consolidated financial statements for the 12 months

me | today annual report
19
Financial Statements
ended 30 June 2026 to be appropriate. The Board
has reached this conclusion having regard to
circumstances which it considers likely to affect the
Group during the period of at least one year from
the date of approval of these consolidated financial
statements, and to circumstances which it considers
will occur after that date which will affect the
validity of the going concern basis.
4.2. China licence arrangement
The Group has entered into a Trademark Licence
Agreement (‘TMLA’), Share Option Agreement
(‘SoA’) and Shareholders’ Agreement (‘SHA’) with
a customer in China. The licence provides the
customer with exclusive rights to use the Me Today
Trademark in China, which is held by Me Today’s
subsidiary, Me Today China Limited (‘MTCL’), for an
initial term of 10 years. The SoA allows the customer
the option to receive up to five tranches of 10% of
the shares in MTCL as it achieves increasing sales
targets, as well as a corresponding percentage
discount in the licence fee payable. The shares
received by the customer entitle them to appoint
one director and to a share of the net equity on
wind up of MTCL. The shares do not carry a right to
receive dividends.
Judgement is required in determining that:
• the appropriate treatment is to recognise
the licence fee as revenue, with the Group’s
revenue recognition policy disclosed in note
3.2.3; and
• the arrangement does not create joint
control of MTCL at 30 June 2026. MTCL is
therefore consolidated as a subsidiary and the
consolidated financial statements recognise
the non-controlling interest in MTCL. The non-
controlling interest holds 40% of MTCL shares at
30 June 2026 (2025: 20%) and the arrangement
creates a derivative option financial liability
which has a fair value that has been assessed
as not significant.
4.3. Deferred tax
Judgement is exercised in determining the timing
and extent of recognition of the benefit of tax
losses. The benefit of tax losses can be recognised
as an asset if its recovery is ‘probable’ (more likely
than not). In the absence of any track record of
profitability, convincing evidence is needed of how
the losses will be recovered in the future, before any
deferred tax asset is recognised (note 8.3).
As a result of the King Honey receivership, the group
has lost available tax losses of $28.92 million (note
8.3).
4.4. Loss of control of King Honey
Holdings Limited and King Honey
Limited
Significant judgement was required in determining
the date on which the Group lost control of King
Honey Holdings Limited and King Honey Limited
(note 21). Management concluded that control
was lost on 27 July 2025, being the date receivers
and liquidators were appointed over the assets of
the King Honey entities and obtained the practical
ability to direct the relevant activities of those
entities.
As a result, the Group no longer met the control
requirements of NZ IFRS 10 Consolidated Financial
Statements and deconsolidated the King Honey
entities from that date.
Management also concluded that King Honey
represented a separate major line of business of
the Group and therefore met the definition of a
discontinued operation under NZ IFRS 5.
Following the receivership and deconsolidation
of King Honey Limited and King Honey Holdings
Limited on 27 July 2025, the Group acquired certain
inventory and Pure Manuka NZ Limited from the
appointed receivers. These acquisitions were
completed through an independent receivership
sale process after control of the King Honey entities
had been lost. The Group purchased $383,000 in
inventory and acquired Pure Manuka NZ limited
for $40,000. Management has concluded that
the transactions do not constitute related party
transactions under NZ IAS 24; however, the
transactions have been disclosed due to their
significance and connection to the discontinued King
Honey operations.
4.5. Restatement of King Honey
basis of preparation and
measurement assessment
The assessment of King Honey involved significant
judgement in determining that King Honey remained
consolidated at 30 June 2025, was not classified as
held for sale at that date, and that the subsequent
receivership and liquidation should be reflected
through measurement reassessment and disclosure
rather than deconsolidation, held-for-sale
classification or reclassification of property, plant
and equipment to current assets.
The measurement of King Honey inventory and
property, plant and equipment is subject to
estimation uncertainty. Actual amounts realised
through the receivership or liquidation process
may differ from the amounts recognised at 30 June
2025 because realisation values depend on market
demand, asset condition, timing, purchaser interest
and transaction-specific factors. The Directors
concluded that any remaining uncertainty did not

me | today annual report
20
Financial Statements
indicate a material adjustment to the 30 June 2025 reported balances, but the uncertainty is disclosed to assist
users in understanding the impact of King Honey on the consolidated financial statements. Further detail on
the judgements applied and the related measurement reassessment is set out in Note 2.4.
5. REVENUE FROM CONTINUING OPERATION
2026
NZ$000
2025
NZ$000
Revenue from sale of health, wellbeing and manuka honey products
Before marketing services provided by customers6,3154,858
Less marketing services provided by customers(1,426)(1,048)
Revenue from sale of health, wellbeing, and manuka honey products4,8893,810
Revenue from licence fees1,113445
Revenue from agency services531543
Total revenue6,5334,798
The details above disaggregate the Group’s revenue from contracts with customers into primary markets, and
major product and service lines.
Revenue was generated from the following geographical regions:
2026
NZ$000
2025
NZ$000
New Zealand2,6881,615
USA1,6711,647
Southeast Asia549 -
China1,278571
Rest of the world347965
Total revenue6,5334,798
Revenue is allocated geographically based upon the customer’s location. In previous periods revenue was
allocated geographically based upon the jurisdiction in which the revenue is recognised for taxation purposes.
The comparative information has been re-presented to align to the current disclosure allocation.

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21
Financial Statements
6. EXPENSES
The loss from continuing operations for the year includes the following expenses.
Note
2026
NZ$000
2025
NZ$000
Salaries(1,679)(1,574)
Employer kiwisaver contributions(33)(41)
Directors' fees24(94)(50)
Accounting and consulting(136)(135)
Shareholder expenses(38)(38)
Distribution and logistics(499)(574)
Depreciation, amortisations and impairments:
Depreciation of property, plant and equipment13(16)(15)
Depreciation of right of use assets14.1(21)(87)
Impairment of intangible assets15(79)-
(116)(102)
Finance expenses:
Interest in lease liabilities20(4)(3)
Interest on borrowings20(136)(175)
(140)(178)
Fees incurred for services provided by the auditor, BDO
Auckland
Audit of the financial statements(120)(145)
Non audit services
Tax return preparation(15)(14)
Tax advisory fees-(3)
(15)(17)
Total fees incurred for services provided by BDO Auckland(135)(162)

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22
Financial Statements
7. SEGMENT INFORMATION
The Group:
• Produces, sells, and markets health, wellbeing and manuka honey products under the Me Today brand
(‘Me Today brand’ segment, and licences the use of that brand (‘Licence fees’ segment);
• Acts as an agent on behalf of other health and wellbeing suppliers (‘Agency services’ segment); and
• Prior to the receivership and liquidation of King Honey (note 21.1), produced premium manuka honey (‘King
Honey’ segment);
• Sells manuka honey products for other Group owned and non-owned brands (‘Other brands’ segment).
The King Honey segment is disclosed as a discontinued operation.
2026
Me Today
brand
NZ$000
Agency
services
NZ$000
Licence
fees
NZ$000
Other
brands
NZ$000
King
Honey
NZ$000
Head
office
NZ$000
To t a l
NZ$000
Revenue before marketing services
provided by a customer
5,938 531 1,113 377 - - 7,959
Less marketing services provided by
a customer
(1,426)- - - - - (1,426)
Total external revenue
4,512 531 1,113 377 - - 6,533
Total revenue4,512 531 1,113 377 - - 6,533
EBITDA from continuing operations(1,301)(14)1,106 137 - (1,154)(1,226)
Finance income
-
- - - - 21 21
Finance expenses
-
- - - - (140)(140)
Depreciation, amortisations and
impairments
(7)(79)- - - (30)(116)
Net loss before taxation(1,308)(93)1,106 137 - (1,304)(1,462)
Income tax expense- - - - - - -
Profit / (loss) from continuing
operations
(1,308)(93)1,106 137 - (1,304)(1,462)
Discontinued operations
Loss from discontinued operations- - - - (22)- (22)
Gain on King Honey receivership- - - - 4,144 - 4,144
Profit/(loss) for the year(1,308)(93)1,106 137 4,122 (1,304)2,660

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23
Financial Statements
2025
Me Today
brand
NZ$000
Agency
services
NZ$000
Licence
fees
NZ$000
Other
brands
NZ$000
King
Honey
NZ$000
Head
office
NZ$000
Total
NZ$000
Revenue before marketing
services provided by a customer
4,890 511 445 - - - 5,846
Less marketing services provided
by a customer
(1,048)- - - - - (1,048)
Total external revenue3,842 511 445 - - - 4,798
Total revenue3,842 511 445 - - - 4,798
EBITDA from continuing
operations
(1,454)(195)438 - - (930)(2,141)
Finance income- - - - - 53 53
Finance expenses- - - - - (178)(178)
Depreciation, amortisations and
impairments
(4)(1)- - - (96)(101)
Net loss before taxation(1,458)(196)438 - - (1,151)(2,367)
Income tax expense- - - - - - -
Profit / (loss) from continuing
operations
(1,458)(196)438 - - (1,151)(2,367)
Discontinued operations
Loss from discontinued
operations
- - - - (3,649)-
(3,649)
Profit/(loss) for the year(1,458)(196)438 - (3,649)(1,151)(6,016)
EBITDA from continuing operations’ is used by the Board to measure the underlying performance of segments
before interest, tax, depreciation, amortisation and the profit or loss from discontinued operations.
Head office expenses include management salaries and costs related to the NZX Listing Rules.

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24
Financial Statements
2026
Me Today
brand
NZ$000
Agency
services
NZ$000
Licence
fees
NZ$000
Other
brands
NZ$000
King
Honey
NZ$000
Head
office
NZ$000
Total
NZ$000
Segment assets4,511 422 376 40 - 1,978 7,327
Segment liabilities1,543 459 - - - 2,816 4,818
2025
Me Today
brand
NZ$000
Agency
services
NZ$000
Licence
fees
NZ$000
Other
brands
NZ$000
King
Honey
NZ$000
Head
office
NZ$000
Total
NZ$000
Segment assets3,418 304 288 - 9,999 1,191 15,200
Segment liabilities610 216 - - 14,078 2,639 17,543
The Group has identified its operating segments based on the internal reports reviewed and used by the Chief
Operating Decision Maker (‘CODM’), being the Board of Directors, in assessing the Group’s performance and
in determining the allocation of resources.
7.1. Information about major customers
During the financial year there were 3 customers who individually accounted for more than 10% of the Group’s
total sales (2025: 1 customer). Sales to these customers were $1.4 million, $1.1 million and $1.1 million (2025: $1.1
million). These customers purchased goods, agency services or licence fees.
8. TAXATION
8.1. Income tax recognised in profit or loss
The analysis of the income tax expense is as follows:
2026
NZ$000
2025
NZ$000
Current income tax
Current income tax charge- -
Deferred tax- -
Total income tax expense recognised in the current year- -

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25
Financial Statements
8.2. Reconciliation of income tax expense
The charge for the year can be reconciled to the loss before income tax as follows:
2026
NZ$000
2025
NZ$000
Profit / (loss) before income tax2,660(6,016)
Current year tax at the tax rate of 28% (2025: 28%)745(1,684)
Non-deductible expenses(1,146)27
Current tax losses not recognised4011,657
Income tax expense - -
Deferred tax
Opening
balance
NZ$000
King Honey
Receivership
NZ$000
Recognised
in loss
NZ$000
Closing
balance
NZ$000
2026
Deferred tax assets/(liabilities) in relation to:
Inventory fair value adjustments1,727(1,727)157157
Fair value loss on harvested honey728(728)--
Impairment of property, plant & equipment183(183)--
Accruals79(42)3269
Leases5(5)33
Deferred tax assets not recognised(2,722)2,685(192)(229)
----
Opening
balance
NZ$000
King Honey
Receivership
NZ$000
Recognised
in loss
NZ$000
Closing
balance
NZ$000
2025
Deferred tax assets/(liabilities) in relation to:
Inventory fair value adjustments1,614-1131,727
Fair value loss on harvested honey872-(144)728
Impairment of property, plant & equipment--183183
Write down of assets held for sale7-(7)-
Accruals139-(60)79
Leases32-(27)5
Deferred tax assets not recognised(2,664)-(58)(2,722)
----

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26
Financial Statements
2026
NZ$000
2025
NZ$000
Tax losses
Tax losses for which no deferred tax asset has been recognised16,99644,192
Tax losses lost on receivership and liquidation of King Honey (note 21)(22)(28,900)
Unrecognised tax losses carried forward to future periods16,97415,292
Potential tax benefit of available tax losses @ 28%4,7534,282
The Group did not recognise deferred income tax assets in relation to the losses disclosed above except to
the extent they offset deferred tax liabilities. The losses can be carried forward against future income subject
to meeting the requirements of income tax legislation including those relating to shareholder continuity and
business continuity (note 4.1).
9. EARNINGS PER SHARE
Comparative earnings per share information has been re-presented to reflect the classification of King Honey
as a discontinued operation.
2026 2025
Basic and diluted earnings/(loss) per share from:
Continuing operations (NZ$)(0.018)(0.044)
Discontinued operations (NZ$)0.051(0.067)
Continuing and discontinued operations (NZ$)0.033(0.111)
The profit/(loss) and weighted average number of ordinary shares used in the
calculation of earnings per share are as follows:
NZ$000NZ$000
Loss from continuing operations(1,462)(2,367)
Profit/(loss) from discontinued operations4,122(3,649)
Profit/(loss) after tax from continuing and discontinued operations2,660(6,016)
Weighted average number of ordinary shares used in the calculation of basic
and diluted earnings per share ('000)
80,38554,320
The 94.52 million warrants on issue at the reporting date (note 18.2) were not considered to be dilutive due
to the Group’s net loss from continuing operations and because the average market price of the Company’s
shares during the period from the date the warrants were issued until the reporting date, was below the
warrants $0.06 exercise price (30 June 2025: none).

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27
Financial Statements
10. CASH AND CASH EQUIVALENTS
2026
NZ$000
2025
NZ$000
Cash at bank and on hand1,8331,259
The carrying amount for cash and cash equivalents equals the fair value. Cash balances are on call (note 23.2).
11. TRADE AND OTHER RECEIVABLES
2026
NZ$000
2025
NZ$000
Trade receivables1,8261,359
Allowance for expected credit losses-(54)
Other receivables321279
GST receivable6041
Prepayments30169
Total trade and other receivables2,2371,794
11.1. Allowance for expected credit losses
2026
NZ$000
2025
NZ$000
At 1 July54129
Amounts written off as uncollectable(54)(75)
At 30 June-54
The Group’s trade receivables aging is as follows:
NZ$000Current
Less than 30
days past due
30 to 60 days
past due
More than 60
days past dueTotal
2026
Trade receivables1,820-141,825
Loss allowance-----
2025
Trade receivables1,08755471701,359
Loss allowance---(54)(54)
The standard credit period on sales of goods is 30 or 60 days on the provision of the sale of goods or
rendering of agency services. No interest is charged on outstanding trade receivable.
In determining the recoverability of a trade receivable, the Group considers any change in the credit quality of
the trade receivable from the date credit was initially granted up to the end of the reporting period.

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28
Financial Statements
The Group has 3 main customers who are each assessed as creditworthy (2025: 2). The Group maintains close
working relationships with these customers. The Group does not hold any collateral over these balances.
The Group determines the expected credit losses on receivables by using a provision matrix, estimated based
on historical credit loss experience based on the past due status of the debtors, adjusted as appropriate to
reflect current conditions and estimates of future economic conditions.

12. INVENTORIES
2026
NZ$000
2025
NZ$000
Raw materials 721 8,732
Finished goods 1,652 1,906
Packaging materials 286 554
Total inventory 2,659 11,192
The cost of inventories recognised as an expense during the year in respect of continuing operations was
$3.32 million (2025: $2.90 million). The cost of inventories recognised as an expense includes $524,000 of write
downs of inventory to net realisable value (2025: $176,000), $436,000 of which are expensed as administrative
and other expenses.
The Group’s inventory net realisable value provision at 30 June 2026 was $0.5 million (2025: $3.4 million, of
which $3.1 million related to King Honey inventory).
$9.0 million of inventory was held by King Honey when it was placed into receivership and liquidation on 27
July 2025 (note 21.1).

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29
Financial Statements
13. PROPERTY, PLANT AND EQUIPMENT
Plant &
equipment
NZ$000
Vehicles
NZ$000
Office
equipment &
furniture
NZ$000
Leasehold
improvements
NZ$000
Total
NZ$000
Cost:
At 1 July 20242,0691621983682,797
Additions--4-
4
Transferred from assets held for sale-164--
164
Disposals(3)(9)-(335)
(347)
At 30 June 20252,066317202332,618
Additions20-5-
25
King Honey receivership (note 21)(2,047)(317)(71)-
(2,435)
At 30 June 202639-13633
208
Accumulated depreciation:
At 1 July 2024(826)(50)(160)(124)
(1,160)
Depreciation expense(201)(26)(16)(24)
(267)
Impairment(655)--115
(540)
Disposals12--
3
At 30 June 2025(1,681)(74)(176)(33)
(1,964)
Depreciation expense(5)-(11)-
(16)
King Honey receivership (note 21)1,6677462-
1,803
At 30 June 2026(19)-(125)(33)(177)
Carrying amount:
At 30 June 202620-11-
31
At 30 June 202538524326-654
At 1 July 20241,243112382441,637

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30
Financial Statements
14. LEASES
14.1. Right-of-use assets
Total
NZ$000
Cost:
At 1 July 2024
1,253
Additions -
Disposals (121)
Lease modifications -
At 30 June 2025 1,132
Additions 319
Disposals -
King Honey receivership (note 21) (732)
At 30 June 2026 719
Accumulated amortisation:
At 1 July 2024 (941)
Depreciation expense (231)
Impairment of right-of-use assets 122
At 30 June 2025 (1,050)
Depreciation expense (21)
Disposals -
King Honey receivership (note 21) 658
At 30 June 2026 (413)
Carrying amount:
At 30 June 2026 306
At 30 June 2025 82
At 1 July 2024 312
The Group leases administration premises and previously leased warehouse premises.

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31
Financial Statements
14.2. Lease liability
2026
NZ$000
2025
NZ$000
Current66 63
Non-current250 37
316 100
Refer to note 20 for a reconciliation of the movement in lease liabilities.
At the reporting date the Group had 1 property lease with a remaining term of 3.8 years (2025: 5 property
leases with an average remaining term of 0.7 years).
The average IBR rate is 7.35% (2025: 6.48%).
Short term lease expenses included in operating loss from continued operations were $67,628 (2025: Nil).
15. INTANGIBLE ASSETS

Trademarks
& domains
NZ$000
Cost:
At 1 July 20249,459
Additions38
At 30 June 20259,497
Additions82
At 30 June 20269,579
Accumulated amortisation and impairment:
At 1 July 2024(9,325)
Amortisation expense(1)
At 30 June 2025(9,326)
Amortisation expense-
Impairment expense(79)
At 30 June 2026(9,405)
Carrying amount:
At 30 June 2026174
At 30 June 2025171
At 1 July 2024134

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32
Financial Statements
16. TRADE AND OTHER PAYABLES
2026
NZ$000
2025
NZ$000
Trade payables1,723891
Accruals328515
Directors shares accrued (note 24)75108
Other payables126169
To t a l2,2521,683
Trade and other payables are unsecured, non-interest bearing and usually paid within 45 days of recognition.
Therefore, the carrying value of creditors and other payables approximates their fair value.
17. BORROWINGS
Note
2026
NZ$000
2025
NZ$000
Secured borrowings at amortised cost
Banks overdraft1 7.1-2,676
Banks loans17.22,2507,284
Subordinated note17.3-5,800
2,25015,760
Current-15,760
Non-current2,250-
2,25015,760
The Group has borrowings of $2.25 million with the Bank of New Zealand (‘BNZ’) (30 June 2025: $9.96 million
with the BNZ and a subordinated note payable to the Jarvis Trust of $5.8 million).
17.1. Bank overdraft
Note
2026
NZ$000
2025
NZ$000
Opening Balance2,6762,486
Receivership and liquidation of King Honey21.1(2,676)-
Net draw down / (repayment) of overdraft facility-190
-2,676

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33
Financial Statements
17.2. Bank loans
2026
NZ$000
2025
NZ$000
Opening balance7,2847,284
Repayment of bank loans(2,250)-
Receivership of King Honey (note 21.1)(5,034)-
Proceeds from bank loans2,250-
2,2507,284
On 16 September 2025 the Group borrowed $2.25 million through a customised average rate loan facility
(‘CARL’), The facility is for a term of 3 years maturing on 15 September 2028. The facility has a floating interest
rate which, at 30 June 2026, was 5.96% per annum. The facility is secured by a first ranking general security
agreement over all present and acquired property of Me Today Limited, Me Today NZ Limited and The Good
Brand Company Limited and by unlimited intercompany guarantees between those companies.
The Group’s bank facilities at 30 June 2025 were as follows:
• Me Today Limited had borrowed $2.25 million through a CARL facility. The facility was for a term of 2
years maturing on 20 March 2026. Payments were interest only during the term prior to its repayment.
This facility was repaid on 16 September 2025. At 30 June 2025 the interest rate on this facility was 8.9%
per annum. The facility was secured by:
a. a first ranking general security agreement over all present and acquired property of Me Today
Limited, Me Today NZ Limited and The Good Brand Company Limited and by unlimited intercompany
guarantees between those companies; and
b. $2 million of the facility was secured by guarantees from King Honey Holdings Limited and King Honey
Limited.
• King Honey Holdings Limited borrowed $0.9 million through a CARL facility. The facility was for a term
of 5 years maturing on 29 June 2026. Repayments were interest only until 30 June 2025 with quarterly
repayments of $250,000 due thereafter. The interest rate on this facility at 30 June 2025 was 9.1% per
annum. The facility was secured by a first ranking general security agreement over all present and
acquired property of King Honey Holdings Limited and an unlimited intercompany guarantee from King
Honey Limited.

Responsibility for the repayment of this borrowing facility was transferred to the receiver of King Honey
Holdings Limited on 27 July 2025 (note 21).
• King Honey Holdings Limited borrowed $4.1 million through a Business First Term Loan facility. The facility
was for a term of 5 years maturing on 29 June 2026. Repayments during the term were interest only. The
interest rate on this facility at 30 June 2025 was 2.3% per annum. The facility was secured by a first ranking
general security agreement over all present and acquired property of King Honey Holdings Limited and an
unlimited intercompany guarantee from King Honey Limited.

Responsibility for the repayment of this borrowing facility was transferred to the receiver of King Honey
Holdings Limited on 27 July 2025 (note 21).
• King Honey Holdings Limited had entered into a $2.5 million overdraft facility. The facility was to reduce
to $1.5 million by $250,000 increments per quarter commencing 31 December 2024. The term was on
demand, subject to annual review. The interest rate on this facility at 30 June 2025 was 7.29% per annum.
The facility was secured by a first ranking general security agreement over all present and acquired
property of King Honey Holdings Limited and an unlimited intercompany guarantee from King Honey
Limited.

Responsibility for the repayment of this borrowing facility was transferred to the receiver of King Honey
Holdings Limited on 27 July 2025 (note 21).
• At 30 June 2025 while the Group was in discussions with the BNZ regarding new funding terms the bank
borrowings were repayable on demand

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34
Financial Statements
17.3. Subordinated note
2026
NZ$000
2025
NZ$000
Opening balance5,8005,600
Interest on borrowings-200
Receivership of King Honey(5,800)-
-5,800
18. SHARE CAPITAL
2026
‘000
2025
‘000
Number of ordinary shares:
Balance at 1 July54,32054,320
Ordinary shares issued during the year40,202-
Balance at 30 June94,52254,320
2026
NZ$000
2025
‘000
Share capital:
Balance at 1 July55,33355,333
Ordinary shares issued during the year2,340-
Less: share issue costs(163)-
Transfer on issue of warrants (note 18.2)(284)-
Balance at 30 June57,22655,333
On 6 November 2025 Me Today issued 36,421,993 new fully paid ordinary shares under a pro rata rights issue,
including oversubscriptions to that rights issue, at an issue price of $0.06 per share.
On 6 November 2025 Me Today also issued 3,780,217 new fully paid ordinary shares to directors and
employees at an issue price of $0.06 per share. 2,109,375 of these shares were issued to independent directors
to settle a portion of directors fees payable (note 24.1). The remaining 1,670,842 of these ordinary shares were
issued to employees.
All ordinary shares on issue are fully paid, have equal voting rights, and share equally in dividends and any
surplus on winding up. The ordinary shares have no par value.
18.1. Non-controlling interest
There is a non-controlling interest in relation to the Group’s subsidiary Me Today China Limited (‘MTCL’).
The non-controlling interest holds 40% of the subsidiary shares at the reporting date (2025: 20%). The non-
controlling interest is not entitled to receive dividends and the amount for the 40% shares is not significant and
rounded to $nil (2025: $nil).

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35
Financial Statements
18.2. Warrants
On 10 November 2025 Me Today made a bonus warrant issue of two series of warrants whereby all
shareholders in Me Today were issued (on the ratio of 1 warrant for every 2 shares held on 7 November 2025):
a. warrants exercisable between 1 October 2026 and 30 October 2026 at an exercise price of 6 cents per
share (‘Series 1’ warrants); and
b. warrants exercisable between 1 October 2027 and 29 October 2027 at an exercise price of 6 cents per
share (‘Series 2 warrants’).
On 10 November 2025 the Company issued:
• 47,261,238 Series 1 warrants; and
• 47,261,238 Series 2 warrants.
No consideration was payable for the warrants on issue. Following a fair value assessment performed during
the year, the Group determined that the fair value of the warrants at issue date was $0.003 per warrant.
Accordingly, an amount of $283,567 has been recognised within equity and presented as a warrant reserve,
with a corresponding reduction in share capital. As both instruments are equity instruments under NZ IAS 32,
the adjustment represents an allocation within equity only and has no impact on total equity, profit or loss,
assets or liabilities.
The warrants give the holder the right to purchase an ordinary share per warrant. Cash consideration of $0.06
per share is payable in full on exercise of the warrants.
Series 1 warrants are able to be converted/exercised to ordinary shares from 1 October 2026 up to the expiry
date of 5pm on 30 October 2026 by notice in writing and payment of the required exercise price.
Series 2 warrants are able to be converted/exercised to ordinary shares from 1 October 2027 up to the expiry
date of 5pm on 29 October 2027 by notice in writing and payment of the required exercise price.
New ordinary shares issued upon exercise of the warrants will rank equally with the ordinary shares already
on issue.
The warrants are quoted on the NZX Main Board.
Fair value measurement
The fair value of the warrants was determined with reference to observable market transactions in the quoted
warrants on the NZX Main Board shortly after issue date. The valuation used the first traded market price of
$0.003 per warrant and reflects the fair value of the identical instruments. Management concluded that no
significant changes occurred in the underlying share price or warrant terms between issue date and the first
observable market trades.
Fair value hierarchy
The fair value measurement has been categorised within Level 1 of the NZ IFRS 13 fair value hierarchy as it
is based on quoted market prices for identical warrant instruments traded on the NZX Main Board without
adjustment. No transfers occurred between fair value hierarchy levels during the year.
Level 1
NZ$000
Level 2
NZ$000
Level 3
NZ$000
Total
NZ$000
Fair value measurement at 30 June 2026
Series 1 and Series 2 warrants284--284
284--284

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36
Financial Statements
19. RECONCILIATION OF PROFIT / (LOSS) AFTER TAXATION
WITH CASH FLOWS FROM OPERATING ACTIVITIES
2026
NZ$000
2025
NZ$000
Net profit / (loss) after taxation
2,660 (6,016)
Adjustments for non-cash items and items recognised as financing activities:
Depreciation, amortisations and impairments116 499
Interest on borrowings136 805
Interest on lease liabilities4 11
Impairment of property, plant and equipment- 655
Loss on disposal for property, plant and equipment- 220
Gain on King Honey receivership (note 21.1)(4,144)-
Movements in working capital
(Increase) / decrease in trade and other receivables(444)(34)
(Increase) / decrease in inventory8,533 3,326
(Increase) / decrease in taxation receivable(41)(26)
Increase / (decrease) in trade and other payables571 (377)
Movement in working capital on King Honey receivership(8,703)-
Net cash outflows from operating activities(1,312)(937)

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37
Financial Statements
20. RECONCILIATION OF LIABILITIES ARISING FROM
FINANCING ACTIVITIES
2026
NZ$000
2025
NZ$000
Borrowings:
Balance at 1 July15,76015,370
Cash:
Proceeds from bank borrowings2,250190
Repayment of bank borrowings(2,250)-
Interest paid on borrowings(136)(605)
Non-cash:
Interest on borrowings136805
Receivership of King Honey (note 21)(13,510)-
Balance at 30 June2,25015,760
Lease liabilities:
Balance at 1 July100426
Cash:
Payment of lease liabilities principal(12)(326)
Interest paid on lease liabilities(4)(11)
Non-cash:
Lease liabilities recognised319-
King Honey receivership (note 21)(91)-
Interest on lease liabilities411
Balance at 30 June316100

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38
Financial Statements
21. DISCONTINUED OPERATIONS
21.1. Receivership and liquidation of subsidiaries
On 27 July 2025 the directors of King Honey Holdings Limited and King Honey Limited, both wholly-owned
subsidiaries of Me Today, requested that the Bank of New Zealand appoint receivers and managers over the
assets of each subsidiary. Simultaneously, the directors appointed liquidators.
The decision to appoint receivers was made due to ongoing trading challenges in the manuka honey sector,
and the subsidiaries’ inability to secure a viable funding solution with key lenders or to conclude a transaction
to sell the King Honey business.
In 2024 the King Honey business was ring-fenced from the Me Today Group through an agreement with the
Group’s lenders to remove Me Today from the King Honey debt security group. As a result, Me Today has no
financial obligations in relation to the debts of King Honey Holdings Limited or King Honey Limited.
Following the appointment of receivers and managers and the appointment of liquidators on 27 July 2025,
the Group lost control of King Honey Holdings Limited and King Honey Limited for the purposes of NZ IFRS 10
Consolidated Financial Statements. The loss of control arose because the Group no longer had the practical
ability to direct the relevant operating and financing activities of those entities.
Accordingly, the Group derecognised the assets and liabilities of the King Honey entities and recognised a gain
on loss of control of $4.1 million. The gain primarily arose from the derecognition of net liabilities of the King
Honey entities and does not represent trading performance of the Group.
No consideration was received on loss of control and the Group did not retain any ownership interest, equity
interest or continuing involvement in the King Honey entities following deconsolidation.
Following the receivership on 27 July 2025, the King Honey net liabilities are no longer the responsibility of
the Group and as a result a $4.1 million gain on receivership of King Honey Holdings Limited and King Honey
Limited has been recognised.
King Honey represented a separate major line of business of the Group and, following the loss of control on 27
July 2025, has been classified as a discontinued operation in accordance with NZ IFRS 5.
Comparative information in the Consolidated Statement of Profit or Loss and Other Comprehensive Income,
Consolidated Statement of Cash Flows and earnings per share disclosures has been re-presented to reflect
the discontinued operation.
The net liabilities disposed of through the receivership and liquidation are shown below.
27-Jul-25
NZ$000
Net liabilities disposed of:
Cash48
Receivables60
Inventory9,028
Property, plant and equipment632
Right-of-use assets74
Trade and other payables(385)
Lease liabilities(91)
Bank overdraft(2,676)
Bank loans(5,034)
Subordinated note(5,800)
Net liabilities disposed of:(4,144)
Gain on receivership and liquidation4,144
Total consideration-

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39
Financial Statements
21.2. Discontinued operations - financial performance and cash flow
information
The financial performance information for the discontinued operations is set out below.
2026
NZ$000
2025
NZ$000
Revenue642,656
Expenses(86)(6,305)
Loss before income tax(22)(3,649)
Attributable income tax expense--
Loss after tax from discontinued operations(22)(3,649)
Gain on receivership and liquidation of subsidiaries (note 21.1)4,144-
Profit / (loss) from discontinued operations attributable to owners of the
Company
4,122(3,649)
21.3. Cash flows from discontinued operations
2026
NZ$000
2025
NZ$000
Net cash (outflow) / inflow for operating activities(52)1,182
Net cash (outflow) / inflow for investing activities(48)82
Net cash (outflow) / inflow for financing activities-(484)
Net (decrease) / increase in cash used by discontinued operations(100)780

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40
Financial Statements
22. SUBSIDIARIES

NamePrincipal activityEquity holding
20262025
Subsidiaries:
The Good Brand Company Limited
Sale of health & wellbeing
products
100%100%
Me Today NZ Limited
Production & sale of health &
wellbeing products
100%100%
Today LimitedNon-trading entity100%100%
Me Today EU Limited
Sale of health & wellbeing
products
100%100%
Me Today UK Group Limited
Sale of health & wellbeing
products
100%100%
Pure Manuka NZ LimitedNon-trading entity100%100%
Me Today USA Inc.100%100%
Me Today China LimitedBrand owner60%80%
Me Today AU Pty LimitedNon-trading entity-%100%
Subsidiaries placed into receivership and liquidation (note 21)
King Honey Holdings Limited
Investment in King Honey
Limited
-%100%
King Honey LimitedSale of manuka honey products-%100%
Manuka Wellness LimitedNon-trading entity-%100%
King Honey Health Products LimitedNon-trading entity-%100%
Bee Plus Manuka NZ LimitedNon-trading entity-%100%
Other investments associated with King Honey in receivership and liquidation:
Bee Plus New Zealand LimitedBrand owner, non-trading-%15%

All subsidiaries are domiciled in New Zealand, with the exception of Me Today EU Limited which is domiciled in
Ireland, Me Today UK Group Limited which is domiciled in England and Me Today USA Inc. which is domiciled
in the United States. All subsidiaries have a reporting date of 30 June.

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41
Financial Statements
23. FINANCIAL INSTRUMENTS
The Group’s activities expose it to a variety of financial risks: market risk (including currency risk and
interest rate risk), credit and liquidity risk. The Group’s overall risk management programme focuses on
the unpredictability of financial markets and seeks to minimise potential adverse effects on its financial
performance.
Risk management is carried out under policies approved by the Board of Directors. The Board provides written
principles for overall risk management as well as policies covering specific areas such as interest rate risk,
credit risk, use of derivative financial instruments and non-derivative financial instruments.
The Group has entered into a number of non-derivative financial instruments all of which are classified as
financial assets and liabilities at amortised cost. The carrying values of these items approximate their fair
value and represent the maximum exposures for each type of financial instrument. They are listed as follows:

Note
2026
NZ$000
2025
NZ$000
Financial assets at amortised cost
Cash and cash equivalents101,8331,259
Trade receivables111,8261,359
Other receivables11321279
Total financial assets3,9802,897
The fair value of cash and cash equivalents and trade receivables are determined to be equivalent to their
carrying value due to the short-term nature of these balances.

Note
2026
NZ$000
2025
NZ$000
Financial liabilities at amortised cost
Trade and other payables162,2511,683
Bank overdraft17-2,676
Banks loans172,2507,284
Subordinated note17-5,800
Total financial liabilities4,50117,443
The fair value of trade payables and other liabilities are determined to be equivalent to their carrying value
due to the short-term nature of these balances.
The fair value of the bank loan is $2.25 million. Interest on the loan is paid monthly at market rates (2025: $7.15
million calculated based upon discounted cash flows).
The Group does not have any derivative financial instruments (2025: nil).
The Group measured the fair value of the bonus warrants issued during the year for the purpose of allocating
equity proceeds between ordinary shares and warrants. The fair value was determined using observable
market prices for the quoted warrants and was categorised as a Level 1 fair value measurement under NZ IFRS
13. No financial assets or financial liabilities were measured at fair value on a recurring basis at 30 June 2026.
23.1. Market risk
Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates will
affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk
management is to manage and control the market risk exposures within acceptable parameters, while
optimising the return on risk. There is minimal market risk.

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42
Financial Statements
23.2. Cash flow and fair value interest rate risk
The Group’s interest rate risk arises from interest on borrowings at variable rates. The Group has an interest-
bearing on call bank account.
The BNZ CARL is borrowing with a variable interest rate and is exposed to a change in interest rate (see note
17). The table below shows the impact that a 1% movement in the current interest rate on the BNZ CARL facility
would have on the per annum interest expense.
Facility balance
2026
NZ$000
Interest impact
Rate (+/-1%)
NZ$000
BNZ CARL facility2,25023/(23)
23.3. Credit risk
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails
to meet its contractual obligations and arises from cash and cash equivalents, deposits with banks and the
Group’s receivables from customers. The Group’s maximum credit risk is represented by the carrying value of
these financial assets. The credit risk associated with cash transactions and deposits is managed through the
Group’s policies that limit the use of counterparties to high credit quality financial institutions.
23.4. Liquidity risk
Liquidity risk is the risk that the Group will not be able to meet its financial obligations as and when they
fall due. The Group’s liquidity risk management includes maintaining sufficient cash reserves to meet future
commitments. Refer to note 4.1 in relation to going concern.
The following table provides a maturity analysis of the Group’s remaining contractual cash flows relating to
financial liabilities. Contractual cash flows include contractual undiscounted principal and interest payments.
Carrying
amount
NZ$000
Contractual
cash flows
NZ$000
Payable
0-6months
NZ$000
Payable
6-12 months
NZ$000
Payable
1-2 years
NZ$000
Payable
2-5
years
NZ$000
Non-derivative financial liabilities
2026
Trade and other payables2,2522,2522,22625--
Borrowings2,2502,250---2,250
Lease liability315362473996180
4,8174,8642,27365962,430
2025
Trade and other payables1,6831,4581,2411254646
Borrowings15,76015,9617,7118,250--
Lease liability10010446192613
17,54317,5238,9988,3947259
The liquidity table above details contractual cash flows at the reporting date. King Honey Limited and King
Honey Holdings Limited were placed into receivership on 27 July 2025 (note 21.1).

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43
Financial Statements
23.5. Capital risk management
The Group’s objectives when managing capital are to safeguard their ability to continue as a going concern,
so that they can continue to provide returns to shareholders and benefits for other stakeholders and to
maintain an optimal capital structure that reduces the cost of capital.
24. RELATED PARTIES
24.1. Directors
During the year the directors of the Company were Grant Baker (Chairman), Hannah Barrett, Roger Gower,
Michael Kerr, Stephen Sinclair and Antony Vriens.
24.2. Key management personnel compensation
Key management personnel compensation is set out below. The key management personnel are all the
directors of the Company.
2026
NZ$000
2025
NZ$000
Short term employee benefits - directors250253
Short term benefits - director fees-50
Share-based payments - director fees94-
Short term benefits - consulting fees137125
481428
On 6 November 2025, the Company issued 2,109,375 fully paid ordinary shares at $0.06 per share to the
independent directors to settle $126,562 of directors’ fees payable as follows:
• 703,125 issued to Hannah Barrett
• 703,125 issued to Roger Gower
• 703,125 issued to Antony Vriens
$75,000 was payable to the independent directors at 30 June 2026 (note 16) and is to be settled through the
issue of shares in the Company at a share price based upon appropriate market pricing (2025: $108,000 to be
settled through the issue of shares).
A company owned by Stephen Sinclair received $137,500 in consulting fees (2025: $125,000).
24.3. Related party transactions
The Company issued the following fully paid ordinary shares at $0.06 per share to directors or their related
entities, as part of the 6 November 2025 rights issue to shareholders:
• 16,666,667 issued to Baker Investment Trust No 2 of which Grant Baker is a trustee;
• 8,333,333 issued to Sinclair Investment Trust of which Stephen Sinclair is a trustee; and
• 300,000 issued to Antony Vriens.
The Company issued the following warrants to directors or their related entities, as part of the 10 November
2025 issue of warrants to all shareholders (note 18.1):
• 20,271,833 Series 1 warrants and 20,271,833 Series 2 warrants issued to Baker Investment Trust No 2 of
which Grant Baker is a trustee with a combined value of $121,631;
• 9,475,153 Series 1 warrants and 9,475,153 Series 2 warrants issued to Sinclair Investment Trust of which
Stephen Sinclair is a trustee with a combined value of $56,851;

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44
Financial Statements
• 863,585 Series 1 warrants and 863,585 Series 2 warrants issued to M & N Kerr Holdings Limited of which
Michael Kerr is a director and shareholder with a combined value of $5,182;
• 776,735 Series 1 warrants and 776,735 Series 2 warrants issued to Antony Vriens with a combined value of
$4,660;
• 452,377 Series 1 warrants and 452,377 Series 2 warrants issued to Roger Gower with a combined value of
$2,714;
• 448,814 Series 1 warrants and 448,814 Series 2 warrants issued to Hannah Barrett with a combined value
of $2,693; and
• 16,667 Series 1 warrants and 16,667 Series 2 warrants issued to BB Promotions Limited of which Hannah
Barrett is a shareholder with a combined value of $100.
Entities associated with Grant Baker and Stephen Sinclair entered into arrangements with M & N Kerr Holdings
Limited, an entity associated with Michael Kerr, relating to certain Series 1 and Series 2 warrants previously
issued by the Company.
25. CONTINGENT LIABILITIES
There are no contingent liabilities as at 30 June 2026 (2025: nil).
26. COMMITMENTS
The Company had no commitments for future capital expenditure as at 30 June 2026 (2025: nil).
27. SIGNIFICANT EVENTS SUBSEQUENT TO THE REPORTING
DATE
There have been no events subsequent to the reporting date which would materially affect the financial
statements.

Independent
Auditor’s Report
TO THE SHAREHOLDERS OF ME TODAY LIMITED

me | today annual report
46
Independent Auditor’s Report
Opinion
We have audited the consolidated financial
statements of Me Today Limited (“the Company”)
and its subsidiaries
(together, “the Group”), which comprise the
consolidated statement of financial position as at
30 June 2026, and the consolidated statement of
profit or loss and other comprehensive income,
consolidated statement of changes in equity and
consolidated statement of cash flows for the year
then ended, and notes to the consolidated financial
statements, including material accounting policy
information.
In our opinion, the accompanying consolidated
financial statements present fairly, in all material
respects, the consolidated financial position of the
Group as at 30 June 2026, and its consolidated
financial performance and its consolidated cash
flows for the year then ended in accordance with
New Zealand equivalents to International Financial
Reporting Standards (“NZ IFRS”) and IFRS®
Accounting Standards.
Basis for Opinion
We conducted our audit in accordance with
International Standards on Auditing (New Zealand)
(“ISAs (NZ)”). Our responsibilities under those
standards are further described in the Auditor’s
Independent Auditor’s Report
TO THE SHAREHOLDERS OF ME TODAY LIMITED
Responsibilities for the Audit of the Consolidated
Financial Statements section of our report. We
are independent of the Group in accordance with
Professional and Ethical Standard 1 International
Code of Ethics for Assurance Practitioners (including
International Independence Standards) (New
Zealand) issued by the New Zealand Auditing and
Assurance Standards Board, and we have fulfilled
our other ethical responsibilities in accordance
with these requirements. We believe that the
audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
In addition to audit services, our firm provided
other services in the areas of tax return preparation
and tax advisory services. BDO partners and staff
also transact with the Group on normal trading
terms throughout the year. These matters have not
impaired our independence as auditor of the Group.
We have no other relationship with, or interests in,
the Company or its subsidiaries.
Key Audit Matters
Key audit matters are those matters that, in our
professional judgement, were of most significance in
our audit of the consolidated financial statements of
the current period. These matters were addressed in
the context of our audit of the consolidated financial
statements as a whole and in forming our opinion
thereon, and we do not provide a separate opinion
on these matters.

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47
Independent Auditor’s Report
Revenue recognition and cut-off
Key Audit Matter
The Group generates revenue from the sale of Me
Today branded products, agency services provided
by The Good Brand Company, and licence fee
income from the China licence arrangement. The
diversity of the Group’s revenue streams and the
different revenue recognition criteria applied under
NZ IFRS 15 Revenue from Contracts with Customers
increases the amount and complexity of audit
procedures performed.
We identified revenue recognition and cut-off as a
key audit matter due to the significance of revenue
to the Group’s financial performance, the timing
of revenue recognition around balance date, and
the presumed fraud risk associated with revenue
recognition under auditing standards.
In addition, significant judgement was required in
assessing licence fee income from the China licence
arrangement, including the sales information
provided by the customer under the trademark
licence agreement.
The Group’s accounting policy regarding revenue
recognition is disclosed within Note 3.2 to the
consolidated financial statements. Revenue by
category is disclosed in Note 5, and significant
accounting judgements relating to licence fee
revenue are disclosed in Note 4.2.
How The Matter Was Addressed in Our Audit
• We obtained an understanding of the Group’s
revenue recognition policies and assessed
whether the recognition of product sales,
agency revenue and licence fee income was
consistent with NZ IFRS 15.
• We performed substantive testing over a
sample of product sales transactions and
agreed amounts recognised to underlying
customer contracts, sales invoices and proof of
delivery.
• We performed substantive testing over a
sample of agency services revenue transactions
and agreed amounts recognised to underlying
agency contracts and supporting product sales
information.
• We reviewed licence fee income recognised
during the year by assessing management’s
calculation against the terms of the underlying
China licence agreement, agreeing the
calculation to customer sales records, and
testing receipts for amounts received during
the year. We also considered the collectability
of accrued licence fee income recorded at year
end.
• To address the completeness and measurement
of licence fee income, we considered supporting
documentation provided by management
and the licensee. We assessed the relevant
internal controls supporting the completeness
of the documentation provided, considered
the sensitivity of the calculated licence fee
income to these inputs, and evaluated whether
the revenue recognised was consistent with
the terms of the underlying China licence
agreement.
• We performed cut-off testing around balance
date and assessed post-year-end credit notes
to determine whether revenue had been
recognised in the appropriate reporting period.
• We reviewed the disclosures in the consolidated
financial statements for compliance with NZ
IFRS 15.

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48
Independent Auditor’s Report
Discontinued operations of King Honey
Key Audit Matter
On 27 July 2025, receivers and liquidators were
appointed to King Honey Holdings Limited and
King Honey Limited (‘King Honey’). As a result,
management concluded that the Group lost control
over the King Honey entities and deconsolidated
the subsidiaries during FY2026. The King Honey
entities have been presented as discontinued
operations in accordance with NZ IFRS 5 Non-
current Assets Held for Sale and Discontinued
Operations. Comparative information has also
been re-presented to reflect management’s re-
assessment of the FY2025 financial statements,
including the classification and presentation of the
King Honey business on a non-going concern basis.
We identified the accounting for the
deconsolidation of King Honey and the presentation
of discontinued operations as a key audit matter
due to the significance and complexity of the
transaction and its pervasive effect on the
consolidated financial statements.
Significant judgement was required in determining
the date control was lost under NZ IFRS 10
Consolidated Financial Statements, assessing the
discontinued operations presentation under NZ IFRS
5, and evaluating the impact of the receivership
and liquidation on the comparative financial
information. The matter required consideration of
multiple accounting standards and affected several
of the Group’s reported financial performance,
financial position and disclosures.
The Group’s re-presentation of comparative
information is disclosed in Note 2.4 and 4.5 to the
consolidated financial statements. The critical
judgement relating to loss of control is disclosed in
Note 2.3 and 4.4. Refer also to Note 21.1 relating to
the receivership, liquidation and deconsolidation
of King Honey and Note 21.2 relating to the
discontinued operations financial performance and
cash flow information and Note 21.3 for cash flows
from discontinued operations.
How The Matter Was Addressed in Our Audit
• We obtained management’s accounting
assessment paper addressing the loss of control
of King Honey Holdings Limited and King
Honey Limited, the application of NZ IFRS 10
and NZ IFRS 5, and the accounting treatment
adopted following receivership and liquidation.
We compared management’s conclusions to
the requirements of the relevant accounting
standards.
• We assessed the facts and circumstances
surrounding the appointment of receivers
and liquidators on 27 July 2025 and evaluated
management’s conclusion that control was lost
on that date.
• We assessed the appropriateness of the gain
recognised on deconsolidation, including
verifying that no consideration was received,
no retained ownership interest existed, and
no material reserves or other comprehensive
income balances required recycling.
• We agreed material assets and liabilities
derecognised to underlying consolidation records
and re-performed management’s gain on
deconsolidation calculation.
• We assessed whether any retained ownership
interest, continuing substantive rights or
obligations existed that would prevent
derecognition of the King Honey entities.
• We assessed whether the Group retained any
obligations in relation to King Honey borrowings
following the loss of control event, including
review of banking, security and guarantee
restructuring documentation and evidence that
creditor claims associated with King Honey
remained subject to the receivership and
liquidation process.
• We evaluated management’s conclusion that
King Honey met the definition of a discontinued
operation under NZ IFRS 5 and assessed the
related presentation in the statement of profit
or loss, cash flows and earnings per share
disclosures.
• We considered management’s reassessment of
the FY2025 comparative information, including
whether King Honey’s assets and liabilities at
30 June 2025 should have been measured on
a non-going concern basis while remaining
consolidated within the Group. This included
evaluating the impact of the receivership and
liquidation on the measurement of King Honey’s
assets and liabilities, the related disclosures, and
the consequential impact on the comparative
information presented in the FY2026
consolidated financial statements.
• We reviewed the related financial statement
disclosures for compliance with NZ IFRS 10, NZ
IFRS 5, NZ IAS 1 and NZ IAS 10.

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49
Independent Auditor’s Report
Other Information
The directors are responsible for the other
information. The other information comprises the
Market Announcement on the Me Today results for
the year ended 30 June 2026 (but does not include
the consolidated financial statements and our
auditor’s report thereon), which we obtained prior
to the date of this auditor’s report, and the Annual
Report, which is expected to be made available to
us after that date.
Our opinion on the consolidated financial
statements does not cover the other information
and we do not and will not express any form of audit
opinion or assurance conclusion thereon.
In connection with our audit of the consolidated
financial statements, our responsibility is to read the
other information identified above and, in doing so,
consider whether the other information is materially
inconsistent with the consolidated financial
statements or our knowledge obtained in the audit,
or otherwise appears to be materially misstated.
If, based on the work we have performed on the
other information that we obtained prior to the date
of this auditor’s report, we conclude that there is a
material misstatement of this other information, we
are required to report that fact. We have nothing to
report in this regard.
When we read the Annual Report, if we conclude
that there is a material misstatement therein, we
are required to communicate the matter to the
directors.
Directors’ Responsibilities for the
Consolidated Financial Statements
The directors are responsible on behalf of the Group
for the preparation and fair presentation of the
consolidated financial statements in accordance
with NZ IFRS and IFRS Accounting Standards,
and for such internal control as the directors
determine is necessary to enable the preparation
of consolidated financial statements that are free
from material misstatement, whether due to fraud
or error.
In preparing the consolidated financial statements,
the directors are responsible on behalf of the Group
for assessing the Group’s ability to continue as a
going concern, disclosing, as applicable, matters
related to going concern and using the going
concern basis of accounting unless the directors
either intend to liquidate the Group or to cease
operations, or have no realistic alternative but to do
so.
BDO Auckland
Auckland
New Zealand
26 August 2026
Auditor’s Responsibilities for the
Audit of the Consolidated Financial
Statements
Our objectives are to obtain reasonable assurance
about whether the consolidated financial
statements as a whole are free from material
misstatement, whether due to fraud or error, and to
issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in
accordance with ISAs (NZ) will always detect a
material misstatement when it exists. Misstatements
can arise from fraud or error and are considered
material if, individually or in the aggregate, they
could reasonably be expected to influence the
decisions of users taken on the basis of these
consolidated financial statements.
A further description of our responsibilities for the
audit of the consolidated financial statements is
located at the External Reporting Board’s website
at: https://www.xrb.govt.nz/standards/assurance-
standards/auditors-responsibilities/audit-
report-1-1/.
This description forms part of our auditor’s report.
Who we Report to
This report is made solely to the Company’s
shareholders, as a body. Our audit work has been
undertaken so that we might state those matters
which we are required to state to them in an
auditor’s report and for no other purpose. To the
fullest extent permitted by law, we do not accept
or assume responsibility to anyone other than the
Company and the Company’s shareholders, as a
body, for our audit work, for this report or for the
opinions we have formed.
The engagement partner on the audit resulting in
this independent auditor’s report is Mark Nicholson.

Corporate
Governance
Statement

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51
Corporate Governance Statement
Corporate Governance Statement
FOR THE 12 MONTHS ENDED 30 JUNE 2026
The Board is responsible for the overall corporate governance of the Company, and it recognises the need
for the highest standards of behaviour and accountability. The Board develops strategies for the Company,
reviews strategic objectives and monitors the Company’s performance against those objectives. The overall
goals of the corporate governance process are to:
• drive shareholder value;
• assure a prudential and ethical base to the Company’s conduct and activities; and
• ensure compliance with the Company’s legal and regulatory obligations.
The Governance principles adopted by the Board are designed to achieve these goals.
The Company’s Governance Code and related policies and charters can be found at
https://www.metoday.com/pages/corporate-governance.
This statement is a summary of the Corporate Governance arrangements approved and observed by the
Board as at 30 June 2026.
CODE OF ETHICS
The Board has documented a code of ethics, which can be found at
https://www.metoday.com/pages/corporate-governance detailing the ethical standards to which Me Today
Limited’s directors and employees are expected to adhere.
ROLE OF THE BOARD
The Board assumes the following primary responsibilities:
• formulation and approval of the strategic direction, objectives and goals of the Company;
• monitoring the financial performance of the Company, including approval of the Company’s financial
statements;
• ensuring that adequate internal control systems and procedures exist and that compliance with these
systems and procedures is maintained;
• review of performance and remuneration of directors and executive officers; and
• establishment and maintenance of appropriate ethical standards for the Company to operate by.
A formal Governance Code, which can be found at https://www.metoday.com/pages/corporate-governance,
has been adopted by the Board and further outlines roles and responsibilities of the Board, and distinguishes
and discloses the respective roles and responsibilities of the Board and management.
The Board evaluates its performance, the performance of individual directors and the performance of Board
committees. The Board also evaluates the size, diversity and skill mix of the Board. Directors are encouraged
to seek appropriate training opportunities to ensure they remain current on how best to perform their duties as
directors of the Company.
BOARD COMPOSITION
In accordance with the Company’s constitution and the NZX Listing Rules, the Board will comprise not less than
three directors. The Board will be comprised of a mix of persons with complementary skills appropriate to the
Company’s objectives and strategies.
The Board currently comprises six directors, three of whom are Independent. The Board considers that,
although it does not have a majority of independent Board members per the NZX Corporate Governance
Code Recommendation, it has the right balance for the current size and structure of the Company.
Independence of directors is assessed against the requirements of the NZX Listing Rules, the factors set out in
the NZX Corporate Governance Code and the factors included in the Company’s Governance Code.

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52
Corporate Governance Statement
Although the Chair of the Board is not Independent, the Board considers that for the size and structure of
the Company, an Independent Chair is not required at this time. The positions of the Chair and CEO of the
Company are held by different people.
BOARD MEETINGS
The Board aims to meet at least 11 times each year for scheduled meetings. Additional meetings are held
where specific matters require attention between scheduled meetings. Board meetings are used to monitor,
challenge, develop and fully understand business and operational issues.
The following table shows director attendance at meetings during the 12 month period ended 30 June 2026.
Board
Audit, Finance & Risk Committee
G Baker9n/a
H Barrett83
R Gower83
M Kerr8n/a
S Sinclair93
A Vriens9n/a
CRITERIA FOR BOARD MEMBERSHIP
When a vacancy arises, the Board will identify candidates with a mix of diversity, capabilities and perspectives
considered necessary for the Board to carry out its responsibilities effectively. A director appointed by the
Board must stand for election at the next Annual Meeting. No director shall hold office (without re-election)
past the third annual meeting following that director’s appointment or three years, whichever is longer.
Retiring directors are eligible for re-election.
BOARD COMMITTEES
The Board has established an Audit, Finance and Risk Committee and a Remuneration, Nomination and Health
& Safety Committee.
The Audit, Finance and Risk Committee operates under a Charter approved by the Board and is accountable
to the Board for: the business relationship with, and the independence of, external auditors; the reliability and
appropriateness of the disclosure of the financial statements and external financial communication; and the
maintenance of an effective business risk management framework including compliance and internal controls.
The Audit, Finance and Risk Committee is chaired by Roger Gower with Stephen Sinclair and, Hannah Barrett
as members. Mr Gower and Ms Barrett are independent directors. Other employees attend Audit, Finance &
Risk Committee meetings by invitation.
The performance of the Audit, Finance and Risk Committee is reviewed annually against the Committee’s
Charter.
The Audit, Finance and Risk Committee Charter contains a framework for the Company’s relationship with its
external auditors.
The framework for the Company’s internal audit function is also outlined in the Committee Charter.
The external auditor was invited to attend the 2025 Annual Meeting and was available to answer
shareholders’ questions about the conduct of the audit and the preparation and content of the auditor’s
report.
The Remuneration, Nominations and Health & Safety Committee operates under a Charter approved by
the Board. The role of the Remuneration, Nominations and Health & Safety Committee is to consider the
appointment of any future directors and their suitability to hold that position, the employment of senior
executive employees of the Company, and reviewing Health & Safety policies to ensure the Company is

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53
Corporate Governance Statement
providing a safe working environment for all employees and contractors. The Remuneration, Nominations
and Health & Safety Committee is also responsible for considering the remuneration to be paid to executive
employees and directors.
During the period under review, given the current size of the Board and composition of the sub committees,
the Board incorporated all matters of the Remuneration, Nominations and Health & Safety Committee
as a separate part of Board meetings and accordingly the full Board are in practice the members of the
committee.
Employees who are not members of the Remuneration, Nominations and Health & Safety Committee attend
meetings by invitation.
Consideration has been given as to whether any other Standing Board Committees are appropriate, and it has
been determined that they are not required.
TRADING IN SHARES
The Company has a detailed Financial Products Trading Policy applying to all directors and employees which
can be found at https://www.metoday.com/pages/corporate-governance. The procedures outlined in this
policy must be followed by all directors and employees to obtain consent to trade in the Group’s shares, at all
times. Under the policy, trading restrictions (blackout periods) apply:
• two weeks before 31 December until 48 hours after the half-year results are released to NZX;
• two weeks before 30 June until 48 hours after the full-year results are released to NZX; and
• 30 days prior to release of an offer document (such as a product disclosure statement or prospectus) for a
general public offer of the same class of shares.
Outside the black-out periods specified above, dealing is subject to the notification and consent requirements
outlined in the policy.
MAKE TIMELY AND BALANCED DISCLOSURE
The Company has in place procedures designed to ensure compliance with the NZX Listing Rules such that
all investors have equal and timely access to material information concerning the Company, including its
financial situation, performance, ownership and governance.
Company announcements are factual and presented in a clear and balanced way.
Significant market announcements, including the announcements of the half year and full year results, and the
financial statements for those periods, require review by the Board prior to release.
The Group’s Market Disclosure Policy has been put in place to ensure that the Company complies with its
continuous disclosure obligations at all times and can be found at
https://www.metoday.com/pages/corporate-governance.
HEALTH AND SAFETY
The Board is responsible for oversight of the Company’s health and safety risks. Creating a safe working
environment for all employees and contractors is a key focus. Health and safety issues are a separate agenda
item on every Board meeting where the Board monitors, supports and completes its own due diligence on the
health and safety practices.

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54
Corporate Governance Statement
REMUNERATION POLICY
The Company has a Remuneration Policy contained in the Company’s Governance Code. Director
remuneration is recommended to Shareholders in a transparent manner.
MAJOR DECISIONS
Shareholders have a right under the NZX Listing Rules to vote on major decisions that may change the nature
of the Company.
SHAREHOLDER COMMUNICATION
Shareholders can elect to receive communications electronically. As a small company, Me Today only holds
either in person or online Annual Meetings, due to the costs associated with hybrid meetings.
CONTROL TRANSACTION POLICY
The Company has a Control Transaction Policy within the Company’s Governance Code.
ADDITIONAL EQUITY CAPITAL
The capital raise in October 2025 was a non-renounceable pro rata offer.
GENDER COMPOSITION OF THE ISSUERS’ DIRECTORS AND OFFICERS
As at 30 June 2026, the gender balance of the Company’s directors and officers was as follows:
20262025
FemaleMaleFemaleMale
Directors1515
Officers (excluding directors)----
To t a l1515

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55
Corporate Governance Statement
CORPORATE GOVERNANCE BEST PRACTICE CODE
The Group has followed the recommendations in the NZX Corporate Governance Code in all material aspects,
with the following exceptions:
ReferenceRecommendation
Alternative Governance Practice and
Reason for the Practice
Recommendation 2.5An issuer should have a written diversity policy
which includes requirements for the board or a
relevant committee of the board to set measurable
objectives for achieving diversity (which, at a
minimum, should address gender diversity) and to
assess annually both the objectives and the entity’s
progress in achieving them. An issuer within
the S&P/NZX 20 Index at the commencement of
its reporting period should have a measurable
objective for achieving gender diversity in relation
to the composition of its board, that is to have not
less than 30% of its directors being male, and not
less than 30% of its directors being female, within
a specified period. An issuer should disclose its
diversity policy or a summary of it.
The Board considers that, although the
Company does not have a formal diversity
policy, it maintains an appropriate balance
of skills, expertise, and experience across
the Board and within the Me Today Group.
Recommendation 2.8A majority of the Board should be independent
directors.
The Board considers that, although it does
not have a majority of independent Board
members, it has the right balance for the
current needs of the Company.
Recommendation 2.9An issuer should have an independent chair of the
Board.
Grant Baker, the current chair is not
considered to be an independent director
as The Baker Investment Trust No 2, of
which he is a Trustee, is a substantial
product holder of Me Today. Mr Baker has
been appointed as Chair due to the level
of expertise that he brings in relation to the
Company’s current growth focus.
Recommendation 3.1An audit committee should only comprise non-
executive directors of the issuer.
The current members of the Audit
and Risk Committee are Roger Gower
(Chair), Hannah Barrett and Stephen
Sinclair. Stephen Sinclair is an executive
director. The current composition of the
Audit and Risk Committee is considered
to be appropriate given the size of the
organisation and Board.
Recommendations
3.3 and 3.4
At least the majority of the remuneration
committee should be independent directors.
At least the majority of the nomination committee
should be independent directors.
Because the Board does not have a
majority of independent directors, the
majority of the Remuneration, Nominations
and Health & Safety Committee is not
independent.
Recommendation 4.4An issuer should provide non-financial disclosure
at least annually, including considering
environmental, social sustainability and
governance factors and practices. It should
explain how operational or non-financial targets
are measured. Non-financial reporting should be
informative, include forward looking assessments,
and align with key strategies and metrics
monitored by the Board.
Me Today has provided limited reporting
on environmental, economic and social
sustainability factors to date while it
focuses on growing sales. The wellbeing
of its customers, employees and other
stakeholders is important to Me Today, as
is its social responsibility and environmental
impact. The Company will implement
and report on appropriate non-financial
measures in future periods.
Recommendation 8.5The board should ensure that the notice of annual
or special meeting of quoted equity security
holders is posted on the issuer’s website as soon
as possible and at least 20 working days prior to
the meeting.
While Me Today generally endeavours to
give at least 20 working days’ notice of the
meeting, in 2024 and 2025 it gave less than
20 working days’ notice. However, in 2026 it
will give at least 20 working days’ notice of
the meeting.

Shareholder
& Statutory
Information

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57
Shareholder & Statutory Information
Shareholder & Statutory Information
FOR THE YEAR ENDED 30 JUNE 2026
Stock exchange listing
The Company’s shares are quoted on the NZX Main Board. As at 9 September 2026, the Company had
94,522,306 ordinary shares on issue (30 June 2026: 94,522,306 ordinary shares), 47,261,238 Series 1 warrants
(30 June 2026: 47,261,238) and 47,261,238 Series 2 warrants (30 June 2026: 47,261,238).
Distribution of shareholders
Details of the distribution of ordinary shares amongst shareholders as at 9 September 2026 are set out below.
Number of Security HoldersNumber of Securities
Size of HoldingNumber%Number%
1-99935649.44%89,3060.18%
1,000-4,99915521.53%346,0450.75%
5,000-9,999405.56%278,9510.43%
10,000-49,99910013.89%2,221,9883.19%
50,000-99,999294.03%1,849,9932.33%
100,000 or more405.56%89,736,02393.12%
720100.00%94,522,306100.00%
20 largest shareholdings
The 20 largest shareholdings as at 9 September 2026 are provided in the table below.
Name
Number of
shares held
Percentage of
shares held
Grant Keith Baker & Donna Jean Baker & Baker Investment MM
Trustee Limited (Baker Investment Trust No 2)
40,543,66542.89%
Stephen John Sinclair & Jacqueline Margaret Sinclair & Roger
Frederick Wallis (The Sinclair Investment Trust)
18,950,30620.05%
Monovale Holdings Limited5,563,0525.89%
New Zealand Depository Nominee Limited4,122,1654.36%
James Patrick Keogh3,064,2163.24%
M & N Kerr Holdings Limited1,727,1701.83%
Antony Vriens1,553,4701.64%
Custodial Services Limited1,486,8571.57%
Vance Justin Murdoch & Karen Lisa Pease1,430,4361.51%
Terrence Wayne Jarvis & Jarvis Burnes Trustee Limited1,367,3091.45%
Rewi Hamid Bugo1,281,3041.36%
The Good Brand Company Limited1,196,6271.27%
Roger Hamilton Gower & Deborah Lynda Gower904,7540.96%
Hannah Mariah Barrett897,6280.95%
Brendon Jon Lindsay & Jeffrey John Parsonson & Wayne Derek
Anderson & Simon Middleton Palmer
729,7270.77%
Ross Dix Harvey425,0000.45%
Forsyth Barr Custodians Limited407,6100.43%
David Christopher Smith & Jacqueline Mary Smith350,0000.37%
FNZ Custodians Limited308,0320.33%
JPMorgan Chase Bank NZ NZ Branch298,0400.32%

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58
Shareholder & Statutory Information
20 largest warrant holdings
The 20 largest shareholdings of Series 1 (MEEWA) and Series 2 (MEEWB) as at 9 September 2026 are provided
in the tables below.

MEEWA Series 1 warrants
Details of the distribution of MEEWA Series 1 Warrants amongst shareholders as at 9 September 2026 are set
out below.
Name
Number of
warrants held
Percentage of
warrants held
Grant Keith Baker & Donna Jean Baker & Baker Investment MM Trustee
Limited (Baker Investment Trust No 2)
20,271,83342.89%
Stephen John Sinclair & Jacqueline Margaret Sinclair & Roger
Frederick Wallis (The Sinclair Investment Trust)
9,475,15320.05%
Monovale Holdings Limited2,781,5265.89%
New Zealand Depository Nominee Limited1,942,9174.11%
James Patrick Keogh1,532,1083.24%
Custodial Services Limited1,130,1892.39%
M & N Kerr Holdings Limited863,5851.83%
Antony Vriens776,7351.64%
Terrence Wayne Jarvis & Jarvis Burnes Trustee Limited696,0231.47%
Vance Justin Murdoch & Karen Lisa Pease673,1381.42%
Rewi Hamid Bugo640,6521.36%
The Good Brand Company Limited598,3141.27%
Roger Hamilton Gower & Deborah Lynda Gower452,3770.96%
Hannah Mariah Barrett448,8140.95%
Brendon Jon Lindsay & Jeffrey John Parsonson & Wayne Derek
Anderson & Simon Middleton Palmer
364,8640.77%
Ross Dix Harvey225,0000.48%
David Christopher Smith & Jacqueline Mary Smith175,0000.37%
Ilakolako Investments Limited171,6670.36%
Hemant Mukar Lad165,3450.35%
FNZ Custodians Limited153,9690.33%
Distribution of MEEWA Series 1 warrants
Number of Warrant HoldersNumber of Warrants
Size of HoldingNumber%Number%
1-99944260.71%95,6960.20%
1,000-4,99912517.17%276,0290.58%
5,000-9,999375.08%253,4340.54%
10,000-49,9998611.81%1,687,9753.57%
50,000-99,999131.79%842,0941.78%
100,000 or more253.43%44,106,10193.32%
728100.00%47,261,238100.00%

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59
Shareholder & Statutory Information
MEEWB Series 2 warrants
Details of the distribution of MEEWB Series 2 Warrants amongst shareholders as at 9 September 2026 are set
out below.
Name
Number of
warrants held
Percentage of
warrants held
Grant Keith Baker & Donna Jean Baker & Baker Investment MM Trustee
Limited (Baker Investment Trust No 2)
20,271,83342.89%
Stephen John Sinclair & Jacqueline Margaret Sinclair & Roger
Frederick Wallis (The Sinclair Investment Trust)
9,475,15320.05%
Monovale Holdings Limited2,781,5265.89%
New Zealand Depository Nominee Limited1,876,4913.97%
James Patrick Keogh1,532,1083.24%
Custodial Services Limited920,4141.95%
M & N Kerr Holdings Limited863,5851.83%
Antony Vriens776,7351.64%
Vance Justin Murdoch & Karen Lisa Pease723,2421.53%
Terrence Wayne Jarvis & Jarvis Burnes Trustee Limited696,0231.47%
Rewi Hamid Bugo640,6521.36%
The Good Brand Company Limited598,3141.27%
Roger Hamilton Gower & Deborah Lynda Gower452,3770.96%
Hannah Mariah Barrett448,8140.95%
Ross Dix Harvey405,8020.86%
Brendon Jon Lindsay & Jeffrey John Parsonson & Wayne Derek
Anderson & Simon Middleton Palmer
364,8640.77%
David Christopher Smith & Jacqueline Mary Smith175,0000.37%
Ilakolako Investments Limited171,6670.36%
Hemant Mukar Lad165,3450.35%
FNZ Custodians Limited153,9690.33%
Distribution of MEEWB Series 2 warrants
Number of Warrant HoldersNumber of Warrants
Size of HoldingNumber%Number%
1-99944360.68%95,7680.20%
1,000-4,99912517.12%276,0290.58%
5,000-9,999364.93%247,7840.52%
10,000-49,9998812.05%1,744,1433.69%
50,000-99,999131.78%842,0941.78%
100,000 or more253.42$44,055,42093.22%
730100.00%47,261,238100.00%

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Shareholder & Statutory Information
Substantial product holders
As at 30 June 2026 the following persons were substantial product holders according to the Group’s records
and disclosures under the Financial Markets Conduct Act 2013.
Relevant interest
Substantial product holderOrdinary SharesSeries 1 WarrantsSeries 2 Warrants
Trustees of the Baker Investment Trust No 240,543,66520,271,83320,271,833
Trustees of the Sinclair Investment Trust18,950,3069,475,1539,475,153
M & N Kerr Holdings Limited8,310,0314,155,0154,155,015
Joseph Patrick Smithies5,790,3522,895,1762,895,176
Max James Smithies5,742,5102,871,2552,871,255
Monovale Holdings Limited5,563,0522,781,5262,781,526
The total number of quoted financial products issued by the Company at 30 June 2026 were the 94,522,306
ordinary shares, 47,261,238 Series 1 warrants and 47,261,238 Series 2 warrants.
Rule 19B Takeovers code disclosures
The following disclosures are required by Rule 19B of the Takeovers Code about the potential issue of
additional ordinary shares in Me Today Limited (Me Today) to:
• the trustees of the Baker Investment No. 2 Trust (BIT), currently holding 42.893% of Me Today shares. BIT is
associated with the Non-executive Chair and Co-Founder, Grant Baker.
• the trustees of the Sinclair Investment Trust (SIT), currently holding 20.048% of Me Today shares. SIT is
associated with Executive Director and Co-Founder, Stephen Sinclair.
• M&N Kerr Holdings Limited (MKH), currently holding 1.827% of Me Today shares. MKH is associated with
Executive Director and Co-Founder, Michael Kerr.
Summary of the terms of the approved allotment package
At the annual meeting of shareholders held on 30 October 2025, Me Today shareholders approved the issue
and allotment of additional shares in Me Today on the exercise of:
• up to 18,028,803 Series 1 Warrants by BIT,
• up to 18,028,803 Series 2 Warrants by BIT,
• up to 8,426,750 Series 1 Warrants by SIT,
• up to 8,426,750 Series 2 Warrants by SIT,
• up to 7,446,446 Series 1 Warrants by MKH, and
• up to 7,446,446 Series 2 Warrants by MKH,
for the purposes of Rule 7(d) of the Takeovers Code, as described further in the explanatory notes to the notice
of meeting dated 10 October 2025 (notice of meeting).
Particulars required to be disclosed as at 30 June 2026:
• The number of voting securities already allotted to each of BIT, SIT or MKH under the approved allotment
package is Nil.
• The number of voting securities on issue that are held or controlled by BIT, SIT and MKH, and the
percentage of all voting securities on issue that that number represents is as follows:
oBIT - 40,543,665 shares, 42.893%.
oSIT – 18,950,306 shares, 20.049%.
oMKH – 1,727, 170 shares, 1.827%.
• The aggregate of the percentages of all voting securities that are held or controlled by the allottee and
the allottee’s associates is 64.769%.
• The maximum percentage of all voting securities that could be held or controlled by BIT, SIT or MKH on

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completion of all the allotments is 49.184%, 22.989%, and 10.671%, respectively.
• The maximum aggregate of the percentages of all voting securities that could be held or controlled by
BIT, SIT or MKH, and their allottee’s associates on completion of all the allotments is 78.618%.
• The date used for these calculations is 30 June 2026. These calculations have been made on the
assumptions that:
oThere is no change in the total number of voting securities on issue between the calculation date and
the end of the transfer period (other than as a result of the allotments on the exercise of warrants).
oThe total shares on issue on the calculation date of 10 November is 94,522,306 shares.
oeach of BIT, SIT and MKH exercise the maximum number of warrants held by them (as listed above),
and is accordingly allotted the maximum number of shares under the allotment, but no other warrant
holder exercises warrants.
oIf MKH is transferred the approved maximum number of shares in exercise of the call options
(discussed below).
Takeovers code (me today) exemption notice 2025 disclosures
The following disclosures are required by Clause 7(b) of the Takeovers Code (Me Today Limited) Exemption
Notice 2025 about the grant and potential exercise of certain call options as described in a notice of meeting
of shareholders dated 10 October 2025 (notice of meeting), for an approval under rule 7(c) of the Takeovers
Code approved by shareholders of Me Today Limited (Me Today) at the Me Today annual meeting of
shareholders held on 30 October 2025.
A summary of the MKH Call Option Grant
As described in the Me Today notice of meeting released to the market on 10 October 2025, MKH held and
controlled 1.827% of the shares in Me Today as at that date. Following allotments made in Me Today’s bonus
issue of warrants on 10 November 2025, MKH holds 863,585 Series 1 Warrants (MEEWA) and 863,585 Series 2
Warrants (MEEWB).
On or about 10 October 2025:
• Grant Keith Baker, Donna Jean Baker & Baker Investment MM Trustee Limited as trustees of the Baker
Investment Trust No 2 (BIT) agreed to grant call options to M&N Kerr Holdings Limited (MKH) giving MKH
the right (but not an obligation) to acquire up to 4,486,056 shares from BIT for nil payment, and
• Stephen John Sinclair, Jacqueline Margaret Sinclair and Roger Frederick Wallis as the trustees of the
Sinclair Investment Trust (SIT) agreed to grant call options to MKH giving MKH the right (but not an
obligation) to acquire up to 2,096,805 shares from BIT for nil payment,
(together, the MKH Call Option Grant).
The MKH Call Option Grant vests in three equal tranches on 30 November 2025, 30 November 2026 and 30
November 2027, subject to Michael Kerr continuing to be employed by Me Today. The call options will expire if
not exercised by 30 November 2030.
In addition, on or about 10 October 2025:
• the trustees of BIT agreed to grant call options to MKH giving MKH rights (but not an obligation) to
acquire
oup to 2,243,028 MEEWA warrants held by BIT, exercisable during the exercise period of the MEEWA
warrants from 1 October 2026 to 30 October 2026, and
oup to 2,243,028 MEEWB warrants held by BIT, exercisable during the exercise period of the MEEWB
warrants from 1 October 2027 to 29 October 2027,
subject in each case to Michael Kerr continuing to be employed by Me Today.
• the trustees of SIT agreed to grant call options to MKH giving MKH rights (but not an obligation) to acquire
up to 1,048,402 MEEWA warrants held by SIT, and up to 1,048,402 MEEWB warrants held by SIT, during
the relevant warrant exercise periods, subject to Michael Kerr continuing to be employed by Me Today.
If MKH exercises warrants, MKH would need to pay Me Today the exercise price of $0.06 per share at the time
of exercise.

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Summary of terms and conditions of the Takeovers Code (Me Today Limited)
Exemption Notice 2025
The Takeovers Panel has granted Me Today Limited an exemption from Rule 15(b) of the Takeovers Code in the
Takeovers Code (Me Today Limited) Exemption Notice 2025 (Exemption Notice).
Rule 15(b) of the Takeovers Code usually requires that a notice of meeting specify the exact numbers (and
percentages) of shares to be acquired with shareholder approval under rule 7(c) of the Takeovers Code. It was
not possible to do so in the notice of meeting, as the precise number of shares to be acquired by MKH under
rule 7(c) depends upon the number of call options that MKH elects to exercise. This is presently unknown. The
precise percentage was not possible to state because both the numerator and the denominator were not
known, as they depend on the extent of exercise of the call options, the extent of subscriptions in the Me Today
October 2025 rights issue and the extent of exercise of the warrants issued by Me Today.
The key terms and conditions of the Exemption Notice are that:
• The notice of meeting contained, or was accompanied by, the following particulars (being the information
included in Appendix 4 of the notice of annual meeting):
a. the maximum number of voting securities that could be acquired by MKH under the call options; and
b. the maximum number of voting securities that could be acquired by MKH under the call options
expressed as a percentage of the total voting securities on issue; and
c. the maximum percentage of the total voting securities on issue that could be held or controlled by MKH
after completion of the acquisition of voting securities under the call options; and
d. the maximum percentage of the total voting securities on issue that could be held or controlled, in
aggregate, by MKH and its associates after completion of the acquisition of voting securities under the
call options; and
e. a statement that the date used to determine the information referred to in this subclause is the date of
the notice of meeting; and
f. a statement of the assumptions on which the particulars in paragraphs (a) to (d) are calculated.
• Me Today includes in its 2026 annual report and every annual report issued by Me Today until the earlier
of (i) the date that all call options are exercised and 30 November 2030 (end date)
a. summary of the terms of the call options
b. summary of the terms and conditions of the exemptions granted under this notice
c. particulars at the end of the financial year to which the report relates, of:
othe number of voting securities acquired by MKH under the call options; and
othe number of voting securities then on issue that are held or controlled by MKH and the
percentage of all voting securities on issue that number represents; and
othe percentage of voting securities then on issue that are held or controlled, in aggregate, by MKH
and MKH’s associates; and
othe maximum percentage of all voting securities that could be held or controlled by MKH and
MKH’s associates if it acquires the approved maximum number of voting securities under the call
options; and
othe maximum percentage of all voting securities that could be held or controlled by MKH and
MKH’s associates if it acquires the approved maximum number of voting securities under the call
options; and
oa statement of the assumptions on which the particulars are calculated.
• From 30 October 2025 (the date of the annual meeting) until the end date, Me Today must:
a. disclose on its Internet site the information regarding the call options required to be included in its
annual reports (as described above);
b. announce on its internet site any aggregate increase of 1% or more in the voting securities held or
controlled by MKH since the date of the last disclosure under this paragraph;
c. maintain every such announcement on its internet site in a prominent position,
in each case as soon as Me Today is aware, or ought to be aware, that the relevant increase has
occurred.

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• The notice of meeting was also required to include the assumptions on which the disclosures made in
Appendix 4 of the notice of meeting were made, the other matters required by rule 15 of the Takeovers
Code, and full particulars of the acquisitions by MKH under the call options, and that to display
prominently the following disclaimer:

By exempting MKH from rule 7(c) of the Code, and the Company from rule 15(b) of the Takeovers Code,
the Takeovers Panel is:
• neither endorsing nor supporting the accuracy or reliability of the contents of this notice of
meeting; and
• not implying it has a view on the merits of the acquisition of voting securities by MKH under the call
options.
• During the period of the Exemption Notice, MKH must not increase its voting control except in accordance
with the transactions approved by shareholders at the annual meeting held on 30 October 2025, an
exemption from the Takeovers Panel under section 45 of the Takeovers Act 1993, or rule 7(c) or rule 7(d) of
the Takeovers Code, with additional disclosures to be made as required by the Exemption Notice.
• During the period of the Exemption Notice, there must be no change in control of MKH that results in
another person becoming the holder or controller of an increased percentage of voting rights in the
Company except in accordance with an exemption from the Takeovers Panel under section 45 of the
Takeovers Act 1993 or under rule 7(c) or rule 7(d) of the Takeovers Code, with additional disclosures to be
made as required by the Exemption Notice.
A copy of the Exemption Notice is at https://www.takeovers.govt.nz/exemptions/individual-exemptions/
current-exemptions/me-today-limited-exemption-notice-2025.
Particulars required to be disclosed as at 30 June 2026:
• The number of voting securities acquired by MKH under the call options is Nil (6,582,861 call options
remain to be exercised).
• The number of voting securities then on issue that are held or controlled by MKH and the percentage of
all voting securities on issue that number represents is 1,727,170 shares representing 1.827% of total voting
securities.
• The percentage of voting securities then on issue that are held or controlled, in aggregate, by MKH and
MKH’s associates is 64.769%.
• The maximum percentage of all voting securities that could be held or controlled by MKH if it acquired the
approved maximum number of voting securities under the call options is 10.671%.
• The maximum percentage of all voting securities that could be held or controlled by MKH and MKH’s
associates if it acquires the approved maximum number of voting securities under the call options is
78.618%.
• The date used for these calculations is 30 June 2026. These calculations have been made on the
assumptions that:
oThere is no change in the total number of voting securities on issue between the calculation date and
the end
oThe total shares on issue on the calculation date of 10 November is 94,522,306 shares.
oAll warrants held by BIT, SIT and MKH are exercised, but no other warrant holder exercises warrants.
oMKH is transferred the approved maximum number of shares in exercise of the call options.

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Directors
The names of the Directors of Me Today Limited and its subsidiaries holding office during the year ended 30
June 2026 are:
Me Today LimitedG Baker
H Barrett
R Gower
M Kerr
S Sinclair
A Vriens
The Good Brand Company Limited
G Baker
M Kerr
S Sinclair
Me Today China Limited
Me Today NZ Limited
Me Today UK Group Limited
Me Today USA Inc.
Pure Manuka Limited
Today Limited
M Kerr
S Sinclair
Me Today EU Limited
M Kerr
S Sinclair
T O’Leary
Independent directors
The Board consider H Barrett, R Gower and A Vriens to be independent directors, as defined under the NZX
Listing Rules, as at 30 June 2026. In making its determination, the Board had regard to the factors set out in the
NZX Corporate Governance Code and the definition of ‘Disqualifying Relationship’ in the NZX Listing Rules.
The Board notes that Roger Gower has been a Me Today director for more than 18 years (appointed July
2008).
The Board considered whether Roger Gower’s tenure on the Board might interfere or reasonably be seen to
interfere with his capacity to bring independent judgment to issues.
The Board considers that Roger Gower can continue to act in the best interests of Me Today and represents
the interests of Me Today’s financial product holders as a whole.
Directors’ relevant interest in equity securities
As at 30 June 2026 the directors of the Group held the following relevant interests in quoted financial products
and financial products that may convert to quoted financial products.
Name
Ordinary
shares
Series 1
warrants
Series 2
warrants
G Baker40,543,66520,271,83320,271,833
H Barrett927,628463,814463,814
R Gower904,754452,377452,377
M Kerr8,310,0314,155,0154,155,015
S Sinclair18,950,3069,475,1539,475,153
A Vriens1,553,470776,735776,735

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Shareholder & Statutory Information
Directors’ remuneration
Details of the nature and the amount of remuneration of each director for the year ended 30 June 2026 are:
Directors’ fees
NZ$
Salary
NZ$
Consulting fees
NZ$
Total
NZ$
Directors of the Company and Group
G Baker (Chair)----
H Barrett31,250--31,250
R Gower31,250--31,250
M Kerr-250,234-250,234
S Sinclair (CEO)--137,499137,499
A Vriens31,250--31,250
93,750250,234137,499481,483
Interests register
The following entries were made in the interest register during the year ended 30 June 2026:
The directors provided the following disclosure of interests in which, due to the nature of their relationship,
may be related parties to Me Today Limited.
Grant BakerNature of interest
Baker Consultants LimitedDirector / Shareholder
Baker Investment Trust No 2Trustee
The Home Bakery LimitedDirector / Shareholder
Turner Automotive Group LimitedDirector / Shareholder
Roger Gower
Nature of interest
Roger Gower and Associates LimitedDirector / Shareholder
Michael Kerr
Nature of interest
The Good Brand Company LimitedEmployee
M & N Kerr Holdings LimitedDirector / Shareholder
Antony Vriens
Nature of interest
Turner Automotive Group LimitedDirector / Shareholder
Stephen Sinclair
Nature of interest
Stephen Sinclair Consulting LimitedDirector / Shareholder
Sinclair Investment TrustTrustee
Hannah Barrett
Nature of interest
BB Promotions LimitedShareholder

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Chief Executive Officer’s (‘CEO’s’) remuneration
A company owned by S Sinclair received $137,500 in consulting fees as remuneration for his role as CEO for the
year ended 30 June 2026. He receives no other remuneration or benefits in that role during the year.
Remuneration of employees
The number of employees, not being directors disclosed in the Directors’ Remuneration section above, within
the Group, who received remuneration and other benefits above $100,000 for the year ended 30 June 2026
are:
RemunerationNumber of employees
$100,001 - $110,0001
$120,001 - $130,0001
$170,001 - $180,0001
Auditor
BDO Auckland is the auditor for the Group. Audit fees due and payable to the auditor during the year were
$120,000 (excluding GST). The Group paid a further $15,000 to BDO Auckland for tax return preparation.
Donations
No donations were paid by the Group during the year.
NZX Waivers
There are no NZX waivers relied upon during the year.

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Lawyers
Chapman Tripp
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Auckland 1010
New Zealand
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Deloitte Building
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Postal Address
PO Box 109047
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Auditor
BDO Auckland
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Auckland
New Zealand
Share Registry
Computershare Investor Services Limited
159 Hurstmere Road
Takapuna
Auckland
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Auckland 1142
New Zealand
Registered Office
Level 1, 25 Broadway
Newmarket
Auckland 1141
New Zealand