Annual Meeting Presentation

EBOS Group Limited. NZBN 9429031998840
108 Wrights Road, Addington, Christchurch, New Zealand, 8024
Level 7, 737 Bourke Street, Docklands, Victoria, Australia, 3008
Phone: +61 3 9918 5555, Fax: +61 3 9918 5588.
www.ebosgroup.com



21 October 2026
NZX/ASX Code: EBO


EBOS GROUP LIMITED 2026 ANNUAL MEETING
Please see attached the Chair's speech, CEO's speech and presentation materials for the Annual
Meeting of shareholders to be held today.

Authorised for lodgement with NZX and ASX by the Board of EBOS Group Limited

For further information, please contact:
Investors: Media:
Cameron Sinclair
Head of Investor Relations
EBOS Group
+61 412 430 393
cameron.sinclair@ebosgroup.com

James Strong
james.strong@sodali.com
M: +61 448 881 174

Samantha Philp
samantha.philp@sodali.com
M: +61 410 696 730

Chair’s Address to Shareholders
Turning now to our highlights for the year.
We will begin with a short video. The video captures the breadth of our operations, the
dedication of our people and the key role we play in supporting healthcare and animal
care customers and communities across New Zealand, Australia, Southeast Asia and
Hong Kong.
(A copy of the video will be made available on the EBOS website)
As you have just seen, FY26 was another year of significant activity and progress across
the Group.
The year was particularly important as we refreshed our strategic direction, sharpening
our focus on the higher-growth and higher-return segments within Healthcare and
Animal Care and further positioning EBOS for long-term sustainable growth.
At its core, EBOS is built on a clear and repeatable model grounded in care, productivity
and partnership. These principles guide how we operate, how we invest and how we
create value. Our Care based portfolio has been curated over many years and is defined
by our four operating divisions.
Symbion & Healthcare Distribution supplies medicines, consumables and logistics
services to pharmacies, hospitals, government and healthcare partners across
Australia and New Zealand.
Retail Pharmacy Brands helps independent pharmacies grow by providing store brands,
services, digital tools and retail support across a large network.
Medical Technology works in hospitals and alongside surgical teams to support
specialist medical technology and biologics solutions across Australia, New Zealand,
Southeast Asia and Hong Kong.
And Animal Care makes and markets pet food, and distributes vet products and animal
health brands through retail and wholesale channels.
Importantly, each of these businesses holds a leading position in its market. In most
cases, we are number one or number two. That scale and leadership is a real strength,
and it underpins the resilience of the EBOS portfolio.
Together, our businesses connect people, pets, and communities to care, anywhere.
FY26 was a year of solid growth for EBOS, with an 8% increase in statutory EBITDA and a
5% increase in Underlying EBITDA.

It also marked an important milestone. Over recent years, the Board has backed a
significant program of investment to modernise our network and strengthen our
portfolio. That facility investment cycle is now complete.
As a result, EBOS goes into FY27 a stronger business. We have modern facilities, a
balance sheet with capacity, and the flexibility to keep investing in growth.
The Board is confident there are further opportunities to build value for shareholders,
both through our existing businesses and through disciplined, complementary
acquisitions.
Adam will take you through the results and our priorities in more detail shortly.
Over the long-term, EBOS has delivered an approximately 10% EBITDA compound
annual growth rate, supported by a balanced contribution from organic expansion and
carefully selected acquisitions aligned with our strategy.
We have complemented this growth with a strong capital allocation framework,
generating attractive returns from bolt-on investments while maintaining stable
dividends for shareholders, guided by our longstanding payout ratio target.
Our balance sheet remains robust and our strong operating cash flows continue to
provide EBOS with the capacity to reinvest in its businesses, pursue growth
opportunities with discipline, and deliver returns to shareholders.
Turning now to sustainability, where our focus during the year was on practical action
and clear reporting.
We published our third Climate Statement in mid-September, with a refreshed
assessment of our climate-related risks and opportunities and their potential impacts
on the Group.
We continued to invest in renewable energy and energy efficiency. Our grid-purchased
electricity efficiency improved, largely reflecting the opening of newer, more efficient
facilities. Rooftop solar installations increased our renewable electricity generation,
and planning progressed on two large-scale ground-mounted solar arrays at our Parkes
facility. In New Zealand, we have matched all of our electricity consumption with
renewable energy certificates since FY24.
Our contribution to our long-standing partner Greenfleet increased again this year,
taking our support since 2007 to more than $2.9 million supporting its work in restoring
native, biodiverse forests across Australia and New Zealand.
In rural Victoria, we have also partnered with Greenfleet on a reforestation project at a
former dairy farm. Approximately 98,000 native trees and shrubs were planted, with
native wildlife already returning to the area.

We are equally committed to an inclusive and supportive workplace, because we
believe that people do their best work when they feel safe, respected and valued. In
FY26 we refreshed our Diversity, Equity & Inclusion Policy to ensure it aligned with that
commitment and with our broader strategy.
During FY26, we continued to identify and strengthen safeguards in our warehouse
operations through targeted engineering improvements and investment in critical risk
management, which continues into FY27. We also progressed the rollout of the EBOS
Life Savers program, reinforcing a consistent Group-wide framework for the
management of high-risk activities.
Through our safety leadership walks, your Board and the Enterprise Leadership Team
engage directly with employees to understand how risks are managed and identify
opportunities to strengthen safety performance.
Together, these initiatives reinforce the importance of visible leadership, accountability
and open communication - all of which support a strong safety culture. This
commitment is reflected in the simple but important Safety Matters mantra: ‘work safe
to get home safe’.
We also introduced new training, including our Respect at Work module, giving our
people practical tools to look after one another and to foster safe, respectful and
inclusive workplaces across the Group.
The success of EBOS is made possible by the contribution of our people, and their
health, safety and wellbeing is a fundamental priority for the Board.
Retaining and motivating our people also remains a key priority for the Board. In FY26
we completed a comprehensive review of our executive remuneration framework. The
changes, which apply from FY27, strengthen the link between executive reward and
EBOS’s medium- and long-term performance. They include deferring part of the short-
term incentive into equity, adding market-priced options alongside performance rights
in the long-term incentive, and introducing a minimum shareholding requirement for
executives.
The Board has also adopted a minimum shareholding policy for non-executive
directors, and each of us bought EBOS shares during FY26.
Together, these steps strengthen the alignment of your Board and executives with you
as shareholders.
Our responsibilities extend beyond our commercial operations to the community.
As you can see from this slide, EBOS businesses continued to support a range of
partnerships and initiatives that improve health and wellbeing outcomes in the
communities we serve. These contributions include fundraising, strategic partnerships,
employee participation and the provision of products and services.

They are closely aligned with our purpose of connecting people, pets and communities
to care, anywhere, and reflect the values of our employees, many of whom contribute
their own time and energy to supporting local organisations and causes.
Turning now to shareholder returns, your Board declared a final dividend of NZ 61.5
cents per share, which was paid to shareholders last month.
This brings the full-year dividend to NZ 118.5 cents per share, representing a payout
ratio of 84.5 per cent of underlying net profit after tax.
In determining dividends, the Board carefully balances the importance of providing
shareholders with a reliable income stream against the need to maintain financial
flexibility and invest in attractive growth opportunities.
The final dividend reflects the Board's confidence in the resilience of EBOS' earnings,
the strength of its cash-flow generation and the Group's long-term growth outlook. Our
approach will continue to be guided by the sustainability of earnings and cash flows,
the strength of the balance sheet and the long-term interests of shareholders.
On behalf of the Board, I would like to thank Chief Executive Officer, Adam Hall, the
Enterprise Leadership Team, and all EBOS employees across New Zealand, Australia,
Southeast Asia and Hong Kong for their leadership, commitment and contribution
throughout the year. Their dedication, expertise and care underpin our success and
enable us to continue serving our customers and communities.
I also thank our customers, suppliers, pharmacy partners, healthcare professionals
and other business partners for the trust they place in EBOS and to our shareholders for
your continued support and confidence.
We are proud of what we achieved in FY26 and look forward to building on that
momentum as we deliver on our refreshed strategy and create long-term value for all
stakeholders. Together, we will continue to build a stronger, more resilient EBOS –
delivering meaningful outcomes for the communities we serve.
I will now invite Adam to provide a more detailed review of the Group’s operational
performance and outlook.
Thank you.

CEO’s Address to Shareholders
Thank you, Liz, and good afternoon. Thank you for joining us, whether you are here in the
room or online.
I would like to cover three things this morning. First, our FY26 performance. Second,
how FY27 has begun across each of our four divisions. And third, the opportunity to
bring those divisions closer together and create further value across the Group.
Let me start with FY26. Revenue increased 9.9% to $13.5 billion, while underlying
EBITDA - our measure of operating earnings - increased 5% to $614 million.
I want to acknowledge the bottom line. Our Underlying net profit was $250 million,
down 3.1%, and underlying earnings per share declined 7.3%. This largely reflects the
depreciation and interest costs associated with our distribution centre investment
program. Importantly, as of 30 June 2026, the major facility investment cycle of recent
years is now complete with all 8 facilities operational. Those investments have
strengthened the Group’s capabilities and capacity, and our focus is firmly on
execution - improving productivity, realising the benefits of that investment and
converting our structural advantages into stronger returns and sustainable growth.
Following completion of this once in a generation major facility investment cycle, we
have an immediate 1/3
rd
stepdown in our capital expenditure in FY27, and that tracks
with what we have seen to date this year.
Our balance sheet remains in good shape. Leverage was 2.1 times, comfortably within
our target range of 1.7 to 2.3 times, and return on capital employed was 12.8%.
While we made important operational and strategic progress during the year, the Board
and executive team are very aware that EBOS’s share price performance has been
disappointing for shareholders. We recognise that progress within the business must
ultimately translate into sustainable earnings growth and long-term shareholder value.
As we demonstrate daily operational performance and post consistent financial results,
we believe that shareholders will appreciate the value of a high-quality EBOS portfolio
that grows with our aging population and the wealth of new medicines and medical
technology coming to market.
Part of consistency is delivering on our guidance. In FY26 we achieved our financial
guidance metrics - EBITDA, capex, depreciation and amortisation, net finance costs
and leverage. This was despite elevated fuel and broader energy costs, which led us to
update EBITDA guidance soon after the Iran conflict began.
The divisions also delivered against the growth priorities set out at our Investor Day.
Symbion grew in line with its industry, Retail Pharmacy Brands delivered high single-
digit growth, Medical Technology delivered high single-digit growth, and Animal Care
delivered mid-to-high single-digit growth. As noted in the full year result, macro
headwinds such as foreign exchange rates and fuel costs, directly impacted earnings.

Pleasingly, we were proactively able to mitigate some fuel costs across our various
businesses.
Let me now turn to the first quarter of FY27.
The key message is that positive growth has continued to build through the quarter and
we are re-affirming our existing FY27 guidance, despite persistent FX and fuel cost
headwinds. As previously indicated, we continue to expect earnings growth to be
weighted to the second half.
What is particularly pleasing is that the growth momentum is broad based. Kemps
Creek is ramping up in Symbion, and the Chemist Warehouse New Zealand contract
has been extended. Retail Pharmacy Brands is expanding its store network and owned-
brand sales. In Medical Technology, our supplier partnerships continue to grow and our
recent acquisitions are performing. In Animal Care, Black Hawk and VitaPet sales
increased mid to high single digits, and Kiwi Kitchens has made a promising start in the
United States.
There is also an important change in our financial position. As I mentioned, our 8 new
facilities are now operational at the end of FY26 thanks to the hard work and
commitment of the teams leading these large capital projects. Capex was
approximately $145 million in FY26 and remains on track to step down to around $100
million in FY27. That lower capital intensity supports stronger free cash flow. Within our
target leverage range, it also creates approximately $150 million of capacity for
disciplined bolt-on acquisitions.
At the same time, we are beginning to unlock the benefits of operating more effectively
as one Group. We expect these initiatives to provide incremental financial benefits from
FY28 as well as organisational opportunities, and I’ll discuss this further shortly.
I will now talk to each division, then outline the Group-wide synergy opportunity and
finish with our FY27 guidance.
Let me begin with Symbion and Healthcare Distribution.
The priority here is clear – it is to put recently installed capacity to work. We have spent
several years renewing the distribution network. With that program complete, the focus
is now on using those assets to lift productivity and support growth, without further
major investment.
Kemps Creek is a great example. Warehouse productivity is already approximately 20%
higher than at the former Greystanes site. We expect the improvement to reach around
30% at the end of FY27 as automation benefits are realised and volumes continue to
ramp up. The first-quarter run rate is on track.
Community pharmacy also has supportive structural tailwinds. Although competition
to serve community pharmacy remains elevated, the Government's Community Service

Obligation funding pool increased from 1 July, with earnings tracking in line with our
expectations. Demand for GLP-1 and high value medicines continues to remain strong
and consistent with our growth outlook.
In contract logistics, the team secured 20 new principals in FY26. And our new Perth
facility is now live and serving customers, enabling full Australia-wide coverage.
In New Zealand, the CWNZ wholesaling contract has been extended by agreement and
will now ramp down progressively through to the end of FY28. This agreement
represents a modest component of Group earnings, and the extended timeframe gives
us the opportunity to adjust the cost base in a disciplined way. Three sites have already
been exited to date, with a fourth transition, the Dunedin site into Christchurch, now
announced. Importantly, the remainder of our New Zealand business continues to
perform well, and we recently renewed a separate major customer contract as well.
Turning to Retail Pharmacy Brands, the priority is to drive store dollars. Put simply,
when our pharmacy partners perform well, we perform well. We have seen a
meaningful challenge to customer spend as the cost of living impacts their wallet. As a
result, our investment is therefore focused on helping stores attract more customers,
expand the services they provide and increase sales. We see five practical levers to
help achieve this.
First, network growth. We now support approximately 790 stores, following around 10
net additions in the quarter. This includes TerryWhite Chemmart, Cincotta and
MediAdvice, in which we acquired a majority interest during FY26. A larger network
creates further scale across our brands, buying and services.
Second, broadening care. 61% of Australians live with an ongoing medical condition,
and 38% of Australians live with two or more. These figures are expected to increase as
the population ages. Against this backdrop, TWC commitment to care continues to
resonate with customers. During the FY26 flu season, the network delivered 24% of all
pharmacy flu vaccinations. This is not just a measure of vaccination volumes. It reflects
the expanding scope of practice in community pharmacy and its increasingly important
role as a front door to healthcare - creating more opportunities to support customers
with their health over time.
Third, digital ecosystem. Units sold through TerryWhite Chemmart's online channels
increased 25%. Customers increasingly expect to engage with us both in store and
online, and the team is enhancing that capability.
Fourth, partnering with consumer brands. Campaigns delivered through our in-store
screens generated a 35% uplift in unit sales for promoted products. That creates
immediate value for supplier partners and pharmacy owners, while also developing a
higher-margin income stream for the Group.

And fifth, owned brands. Retail sales increased at a low double-digit rate. Owned
brands provide customers with good value and support stronger margins for pharmacy
owners and the Group.
These levers reinforce one another. More stores create more opportunities for health
services, online engagement and owned-brand sales. Greater customer traffic also
increases the value of our retail media platform. There is always more to be done, but
the division has solid momentum as we move through FY27.
In Medical Technology, our priority is to expand scope and reach.
It is worth briefly explaining the business model. We connect leading medical
technology manufacturers and donor networks with the hospitals, clinics and
healthcare practitioners who use their products. We have more than 400 supply
partnerships, serve more than 4,500 hospitals and clinics, and engage approximately
2,000 practitioners each year through professional education programs.
This is not just a distribution business. It is a trusted partnership. We believe we are the
leading independent distributor in Australia and New Zealand and in South-East Asia,
and the largest biologics provider in Australia.
We strengthened that platform in FY26 through four acquisitions, each continuing to
build out our scale therapy area presence:
• Precision Surgical, a spine and orthopaedic distributor on the East coast of
Australia
• AlphaXRT, which provides oncology radiation solutions in New Zealand and
Australia
• K-Talyst, which works in aesthetics and reconstruction across Southeast Asia
• And finally by consolidating Origin, a US based allograft joint venture in which we
have a majority interest
Each of these broadens the range of procedures, customers and clinicians we can
support. As with FY26 there remains continued pressure from forex and fuel charges, in
addition to customer and market dynamics that we must respond to.
Overall, Medical Technology provides exposure to attractive long-term growth in
specialist healthcare. It is also a natural destination for the disciplined bolt-on
investment our balance sheet can support.
Finally, Animal Care, where the focus is new product and customer momentum.
The branded portfolio is performing well in the current climate of elevated cost of living
concerns. Across July and August, Black Hawk and VitaPet delivered mid-high single-
digit value growth compared with the prior corresponding period, ahead of the category.
While cost inflation and the phasing of marketing investments is expected to subdue
first half EBITDA growth, pricing actions will accelerate second half performance. At a

time when household budgets remain under pressure, this performance demonstrates
the strength of the brands and the trust of pet owners.
The second growth engine is international expansion – particularly export of Kiwi
Kitchens to the USA. Sales of our Kiwi Kitchen product continue to accelerate in the
United States, albeit off a relatively small base right now. The brand is now ranged
across California, and the ambition of expanding our presence in more regions remains
on track. The United States is the world's largest pet food market, so even a modest
position represents meaningful opportunity over time.
Our Branded Animal Care business has two distinct sources of growth - strong brands,
with manufacturing capability in its home markets and increasing reach internationally.
Whilst not mentioned on the slide, our leading Vet Wholesale business also continues
to perform well, supported by the structural growth in pet ownership and an ageing pet
population. As pets live longer, they typically require more frequent and increasingly
sophisticated care, supporting sustained demand across veterinary medicines,
consumables and other clinical products. With our broad range, established
distribution network and trusted customer relationships, Vet Wholesale remains well
placed to support veterinary practices as that demand continues to develop.
We are also seeing more and more opportunity to swap best practices between human
and animal health, particularly in distribution and warehousing. These practical
examples point to a much broader opportunity across the group – bringing together the
capabilities, expertise and scale that already exist across EBOS.
This now brings me to an important value frontier for EBOS - the opportunity to continue
to work more efficiently across the Group.
EBOS has four strong divisions that have historically operated with a high degree of
independence. Over the past year, our leadership team has established a shared
purpose and a common Group strategy. That work has identified three practical
opportunities to collaborate to lower our cost base, each at a different stage of
development.
First, combined support office costs. This work is underway across finance and IT, with
a disciplined focus on centralising, standardising and automating activity, and
partnering where appropriate. These changes have already begun and we expect
modest run-rate benefits beginning by the end of FY27, which will then positively
impact FY28 onwards.
Second, scaled negotiation. Group-wide visibility and analysis of our external spend
has identified opportunities to use our scale to drive better negotiating leverage. Value
creation starts to kick in as legacy contracts renew towards the end of FY27 and in
FY28.
Third, supply chain efficiency. This opportunity is at the scoping stage. It involves
evaluating options on how our network best serves our customers across all our

divisions, building on the network we have just renewed. This will be a multi-year
program, carefully sequenced to protect customer service, with an opportunity for
proof of concept in FY27.
Together, these initiatives are expected to deliver incremental financial benefits from
FY28 and unlock opportunities in the organisation. We will provide further detail,
including the size of the opportunity, with our half-year results in February.
Turning to the outlook, the resilience of the divisional performance we have outlined is
particularly important given the significant foreign exchange and fuel headwinds
affecting the business. The Australian dollar has continued to appreciate against the
New Zealand dollar, up another circa 2% in the period, while the average diesel price
increased by approximately 20%. Together, these movements have created a material
headwind to earnings and distribution costs. We expect both drivers to remain volatile
throughout FY27. Despite this, I am pleased to reaffirm our FY27 guidance. We continue
to expect:
• underlying EBITDA of $635 to $655 million, representing mid-single-digit organic
growth;
• capex of around $100 million, following the completion of the investment
program;
• depreciation and amortisation of $152 to $162 million; and
• net finance costs of $138 to $148 million.
As noted, similar to last year EBITDA and NPAT growth are expected to be weighted to
the second half. Importantly, the confidence in our guidance is supported by the
Group’s resilient market positions, disciplined execution and the benefits of the
investment program completed in recent years.
Let me close by bringing the key themes together.
First, approximately 85% of Group EBITDA is generated by businesses with number one
or number two market positions. Second, we have redeployed approximately $2 billion
of capital over the past five years into higher-growth areas, including Medical
Technology and Animal Care. Those higher-growth businesses now represent more
than 70% of Group earnings.
Third, the major investment cycle is complete. Each division has a clear growth agenda,
and we are beginning to realise the benefits of operating more effectively as one Group.
We also have the balance sheet capacity to continue investing, while maintaining the
discipline on returns that shareholders should expect from us.
None of this is possible without our people. I would like to thank our teams across
Australia, New Zealand and Asia for the care and commitment they show every day, and
our customers and partners for their continued trust. Thank you also to our
shareholders for your support.
I will now hand back to Liz.

Care
Productivity
Partnership
Annual Shareholder Meeting
2026

2
Disclaimer
The information in this presentation was prepared by EBOS Group Limited (“EBOS” or the “Group”) with due care and attention. However, the information is supplied in summary form and is
therefore not necessarily complete, and, to the extent permitted by law, no representation is made as to the accuracy, completeness or reliability of the information. In addition, neither EBOS nor
any of its subsidiaries, directors, employees, shareholders nor any other person shall have liability whatsoever to any person for any loss (including, without limitation, arising from any fault or
negligence) arising from this presentation or any information supplied in connection with it.
This presentation may contain forward-looking statements and projections. These reflect EBOS’ current expectations, based on what it thinks are reasonable assumptions, and are subject to a
number ofrisks and uncertainties, including material adverse events, significant one-off expenses and other unforeseeable circumstances.To the extent permitted by law, EBOS gives no warranty
or representation as to its future financial performance or any future matter. Except as required by law or NZX or ASX listing rules, EBOS is not obliged to update this presentation after its release,
even if things change materially. This presentation does not constitute financial advice and does not take into accountthe particular needs, objectives or circumstances of any investor. Any
investors are encouraged to seek independent financial advice. Further, this presentation is not and should not be construed as an offer to sell or a solicitation of an offer to buy EBOS securities
and may not be relied upon in connection with any purchase of EBOS securities.
This presentation contains a number of non-GAAP financial measures, including Gross Operating Revenue, EBITDA, EBIT, NPAT, Underlying Operating Expenditure, Underlying EBITDA, Underlying
EBIT, Underlying NPAT, Underlying Earnings per Share, Free Cash Flow, Underlying Cash from Operations, Underlying Free Cash Flow, Cash Conversion Days, Net Working Capital, Net Debt,
Leverage, Net Debt : EBITDA and Return on Capital Employed (ROCE). Because they are not defined by GAAP or IFRS, EBOS’ calculation of these measures may differ from similarly titled measures
presented by other companies and they should not be considered in isolation from, or construed as an alternative to, other financial measures determined in accordance with GAAP. Although
EBOS believes they provide useful information in measuring the financial performance and condition of EBOS' business, readersare cautioned not to place undue reliance on these non-GAAP
financial measures.
The information contained in this presentation should be considered in conjunction with the audited consolidated financial statements for the full year ended 30 June 2026 and EBOS’ other
periodic and continuous disclosure announcements released to NZX and ASX, which are available at www.nzx.com and www.asx.com.au.
EBOS and its businesses are subject to known and unknown risks, some of which are beyond the control of EBOS and/or may not be fully mitigated. A summary of key financial and non-financial
risks identified by EBOS can be found under ‘Risk Management’ at https://www.ebosgroup.com/who-we-are/corporate-governance. Thisshould not be considered an exhaustive list.
All currency amounts are in Australian dollars unless stated otherwise.
Underlying earnings for the 30 June 2026 and 30 June 2025 periods exclude M&A transaction costs, non-recurring restructuring andsite transition costs and the amortisation (non-cash) expense
attributable to purchase price accounting (PPA) of finite life intangible assets.
Underlying earnings to 30 June 2026 also excludes the net gain on acquisition related activities, which includes a gain (non-cash) on step acquisition of ABT Nevada reflecting the remeasurement
of the Group’s previously held equity-accounted interest to fair value when control was obtained in December 2025.

Welcome
3

4
How to participate in virtual/hybrid meetings and ask a question

5
How to participate in virtual/hybrid meetings and vote

6
Board of Directors
Elizabeth Coutts
Independent Chair
Mark Bloom
Independent Director
Dr Tracey Batten
Independent Director
Stuart McLauchlan
Independent Director
Coline McConville
Independent Director
Matt Muscio
Non-executive Director
Julie Tay
Independent Director

7
Agenda
1
Presentation: Elizabeth Coutts, Chair
2
Presentation: Adam Hall, CEO
3
Business of Meeting
4
Conclusion

Chair presentation
Elizabeth Coutts
Chair

9
EBOS is a scaled Care portfolio with 4 divisions
Symbion & Healthcare Distribution
Supplies medicines, consumables and
logistics services to pharmacies,
hospitals, government, and healthcare
partners across ANZ
ANZ’s #1 or #2 institutional healthcare
distributor, contract logistics provider
and pharmaceutical wholesaler
Retail Pharmacy Brands
Helps independent pharmacies grow
through providing store brands,
services, digital tools and retail
support across a large network
Australia’s #1 community pharmacy
store network
1
, with a focus on health
services
Medical Technology
Embedded in hospitals and surgical
teams to support specialist medical
technology and biologics solutions,
across ANZ and SEA/HK
#1 medical technology partner in
multiple therapy areas across APAC,
leadership in biologics allograft
manufacturing
Animal Care
Makes and markets pet food, markets
and distributes vet products and
animal health brands through retail
and wholesale channels
ANZ’s #1 supplier of specialty dry dog
food by volume, and #1 vet wholesale
supplier
Healthcare reporting segment
1. By number of branded pharmacies

10
Investment cycle complete; EBOS to continue its growth momentum
Solid growth;
investment cycle
complete
Ongoing
opportunities to
build further value
All FY26 guidance
metrics met
Balance sheet
flexibility to invest
in growth

11
EBOS has actively evolved into a higher-quality portfolio through disciplined
investment, ramping up in the past six years
DC renewal delivering better Care to our
customers and driving improved performance
208
367
437
582
624
585
614
FY21FY22FY23FY24FY25FY26
Underlying EBITDA (A$m)
Accelerated growth and portfolio rebalancingComplete DC renewal
~10% long-term CAGR
Similar parts organic and inorganic
Inorganic
Strategic M&A
Organic
Major
investments
Pet Care Kitchen (Animal Care)
HCL
Perth
Symbion
Kemps
Creek
Onelink
NZ
DC Renewal Program (S&HD)
FY25 EBITDA impacted by
CWA contract expiration
FY16
Pre-IFRS16
Post-IFRS16

12
Sustainability, community and a safe and inclusive workplace
Sustainability highlights
•
Third Climate Statement published, with refreshed climate-
related risks and opportunities assessment
•
More rooftop solar
•
NZ electricity matched with renewable energy certificates
•
Greenfleet support since 2007 now >$2.9 million
•
~98,000 native trees and shrubs planted in country Victoria
•
Refreshed DE&I Policy and new Respect at Work training
Safety highlights
•
Warehouse engineering improvements and critical risk
investment, continuing into FY27
•
EBOS Life Savers: a Group-wide framework for high-risk
activities
•
Board and ELT safety leadership walks with our people
•
Safety Matters: ‘work safe to get home safe’
Our sustainability pillars

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Supporting health and wellbeing in our communities
Symbion & Healthcare
Distribution
Retail Pharmacy
Brands
Medical
Technology
Animal
Care
Supporting FightMND for over
10 years, with money raised
through fundraising donated
to help the fight against motor
neurone disease
Orthopeadic Outreach
Australasia – delivering specialist
surgical care underserved
communities across Southeast
Asia and the Pacific
Donating Black Hawk kibble,
supporting the nutritional
needs of over 900 dogs
across the Guide Dogs
program
For 20+ years, TerryWhite
Chemmart has partnered with
Ovarian Cancer Australia,
supporting awareness,
fundraising and education
SELECT EXAMPLES

14
Dividends
EBOS’ Directors announced a final FY26 dividend of NZ 61.5
cents per share
The final dividend was fully franked for Australian taxation
purposes and imputed to 20% for New Zealand taxation
purposes
The full-year dividend was NZ 118.5 cents per share,
maintaining a stable dividend since FY24
Dividend remains supported by:
Strong cash flow generation
Accretive returns from bolt-on
investments
Robust balance sheet with capacity
for reinvestment
Positive long-term industry growth
outlook
Final dividend

CEO presentation
Adam Hall
Chief Executive Officer

16
FY26 delivered: revenue +9.9%, Underlying EBITDA +5.0%
1
12.8%
20bps change vs prior
period, reflecting higher
capital base
ROCE
$13,487m
9.9% growth
Revenue
Guidance
delivered within range
$225m
4.7% growth
Underlying NPAT $250m
(3.1% decrease)
NPAT
2.1x
Remains within target range
of 1.7x to 2.3x
Leverage
3
109.8cps
0.1% growth
Underlying EPS 121.7cps
(7.3% decrease)
EPS
NZ 61.5 cps
4
Maintained
Payout ratio of 84.5%
Underlying NPAT
Dividend
$599m
7.8% growth
Underlying EBITDA
2
$614m
(+5.0% growth)
EBITDA
EBITDA
2
$614m
Capex$145m
D&A$148m
Net finance costs$119m
Leverage2.1x
1. Growth is FY26 Underlying compared to FY25 Underlying 2. FY26 Underlying EBITDA guidance updated on 22 April 2026 to reflect impact of elevated fuel price and broader energy cost pressures 3. Calculated in accordance with banking covenants and
excludes IFRS 16 lease impacts 4. The final dividend was imputed to 20% and fully franked to 100% for New Zealand and Australian tax resident shareholders respectively

17
In-line with industry
Completed DC renewal
program
Delivered against all FY26 financial guidance metrics and Investor Day
growth priorities
Symbion & Healthcare
Distribution
Retail Pharmacy
Brands
Medical
Technology
Animal
Care
FY26 delivered
growth in line with
expectations
2

&
was supported by
disciplined capital
allocation across the
portfolio, focused on
achieving...
Mid-high single-digit
Expanded network and
healthcare services
High single-digit
Expanded therapy and
product portfolio
Mid-high single-digit
Expanded manufacturing
and innovation capability
1. FY26 Underlying EBITDA guidance updated on 22 April 2026 to reflect impact of elevated fuel price and broader energy cost pressures 2. Excluding the fuel impacts arising as a result of the Middle East Conflict, FX Translation impacts and FX impacts on
purchases
All FY26 guidance
metrics delivered
within range
1
EBITDA
$614m
Capex
$145m
D&A
$148m
Net finance costs
$119m
Leverage
2.1x
Delivered on every financial guidance metric
Healthcare segment
Animal Care segment

18
Positive growth building through Q1 FY27
•Major DC renewal program now complete, with capex of ~$145 million in FY26, expected to step down to ~$100
million per annum in FY27 which remains on track
•Lower capital intensity driving stronger free cash flow and increasing balance sheet capacity for further growth
investment
•FY27 guidance re-affirmed, while noting that growth remains weighted to the second half, with FX & fuel headwinds
continuing to persist
•Symbion & Healthcare Distribution: “Put capacity to work”, Kemps Creek ramp-up and CWNZ
2
contract extended
•Retail Pharmacy Brands: “Drive store dollars”, Network store growth and growing private label brands
•Medical Technology: “Expand scope & reach”, Supply partnerships expanding, recent acquisitions performing
•Animal Care: “New product & customer momentum”, BlackHawk & Vitapet sales performing strongly, promising entry
into US market with Kiwi Kitchens
•Combined support function costs across divisions, already started across finance and IT
•Scaled negotiation benefits by coordinating groupwide procurement
•Supply chain consolidation opportunities leveraging footprint to serve multiple divisions
•Financial benefits expected to start in FY28, with further detail to be shared at the H1 FY27 results. Focus is on
optimising costs across divisions
FY26 saw solid
growth;
investment cycle
complete
Divisional
growth
momentum
continues across
Q1 FY27
Shared purpose
unlocks cross-
divisional
synergies and
organisational
opportunities
Step down in
capex unlocks
~$150m bolt-
on acquisition
capital
availability
1
FY27 guidance
re-affirmed
Additional
financial
benefits from
FY28
1. Based on Net Debt / EBITDA ratio of 2.30x vs June 2026 ratio of 2.1x and conservative target EBITDA multiple paid 2. Chemist Warehouse New Zealand

19
Symbion & Healthcare Distribution: Put capacity to work
1. Warehouse productivity index (indexed to FY25) 2. Management forecasts
New CSO regime and Kemp’s Creek productivity gains on track;
HCL Perth now serving customers
•Contract extended, providing near-term earnings visibility for
ProPharma
•CWNZ is a modest component of Group earnings, contributing
approximately mid-single digit annual EBITDA
•Ample time to adjust cost base and footprint, with a clear multi-year
ramp down through to end of FY28
•Non-CWNZ growth remains healthy, with
major customer contract renewed
•Sites consolidated, with 3 sites exited to date,
Dunedin site closure now announced
and further potential site consolidation
opportunities
CWNZ contract renewed and ramps down through FY28
Community Pharmacy:
•Step-up in CSO funding pool from 1 July 2026, with CSO earnings
tracking in line with expectations
•Strong industry demand for GLP-1s, growing at ~49% CAGR (FY22-
FY25) versus ~11% for high value medicines overall
•Kemps Creek DC Q1 FY27 productivity gains remain on track
Hospital medicines, consumables & others:
•Major hospital player successfully onboarded
•Consolidated Sentry’s Sydney DC into EBOS Healthcare’s network
•Continued growth in aged care agreements, including corporate
customers and independents
Contract Logistics:
•Successfully won 20 new principals in FY26
•Go-live of Perth DC supporting existing and new principals

ProPharma
Onelink
Closure announced
Legend:

20
Retail Pharmacy Brands: Drive store dollars
Growing the store
network
Leading in pharmacy
vaccinations
Accelerating online
sales
Monetising retail
media
Growing owned
brands
Q1 FY27 trading performance
1
~790 stores
~10 net new added
2
24%
TerryWhite Chemmart flu
vaccination market share
3
+25%
growth in units sold via TWC
online channels
1
+35%
unit uplift from retail media screen
campaigns
4
Low double digit
growth in owned brands retail
sales
1
Multiple pathways driving store dollars across the network
1. Comparison is based on YoY, unless otherwise noted 2. Store counts include TWC, MediAdvice (majority acquisition in FY26), Cincotta branded pharmacies, and unbranded pharmacies supported by the group as at October 2026 3. FY26 flu
season 4. Moving annual total

21
OEMsDonor networks
CUSTOMERS
SUPPLIERS
Reliable, trusted
channel to market
Access to world
class technology
>400 supply partnerships
2,000 healthcare practitioners engaged in our professional
education initiatives per annum
>4,500 hospitals and clinics served
Medical Technology: Expand scope and reach
#1 independent distributor in ANZ
1
#1 independent distributor in SEA
1
Largest biologics provider in Australia
1
1. Management estimates 2. Consolidated in H1 FY26
Precision Surgical
Spine and orthopaedic
distributor
FY26
acquisitions
AlphaXRT
Radiation Oncology
solutions
K-Talyst
Aesthetics and
reconstruction
Origin
2
US biologics

22
Animal Care: New product and customer momentum
Branded portfolio excelling in
challenging market
International presence continues to scale
1. Vs July/August prior year
Mid-high single digit revenue growth
1
Across Black Hawk & VitaPet
Outpacing the category through continued share gains and
recent price increases (Black Hawk)
Kiwi Kitchens now ranged in California
with more regions to come

23
Based on a shared purpose, three programs of cross divisional synergy in
motion
Purpose and
strategy
set at Investor Day
for the Group
Support
office
optimisation
•Reshaping teams to uplift capability and align capacity
•Standardise, centralise, automate and partner
•Small run-rate benefits by end of FY27
Scaled
negotiation
benefits
•Group-wide spend visibility unlocks buying leverage
•Quick wins across high-spend categories
•Benefits build as legacy contracts renew
Supply chain
efficiency
•Group-wide network optimisation
•Leverages DC renewal and automation investment
•Continuation of service levels
Incremental
financial benefits
from FY28
Further detail at the H1
FY27 results
Underway
From FY27
Launching
FY27–28
Proof of
concept
FY27

24
FY27 guidance re-affirmed, with growth weighted to the second half
EBITDA
1
Capex
1. Based on Underlying EBITDA
D&A
Net finance
Execution of divisional priorities underway....
$635-655m
mid-single-digit organic EBITDA growth
~$100m
investment program complete
$152-162m
impact of prior investment,
growth H1 weighted
$138-148m
impact of prior investment,
growth H1 weighted
Symbion & Healthcare Distribution:
“Put capacity to work”
Retail Pharmacy Brands:
“Drive store dollars”
Medical Technology:
“Expand scope and reach”
Animal Care:
“New product & customer momentum”
...supporting existing FY27 guidance
FY28 earnings growth supported by Group wide synergies
Unchanged vs prior guidance | EBITDA & NPAT growthweighted to H2 FY27

25
The EBOS
value story
Investment cycle complete; divisional growth initiatives &
synergies now driving the next phase of value creation
Clear growth initiatives across all divisions supporting continued
EBITDA growth, despite cost pressures and competitive dynamics
Strong positions with structural advantages
EBOS has leading positions in essential care markets, leveraged to
favourable structural tailwinds, underpinned by scale-driven
productivity and advantaged partnerships
Care portfolio focused on higher-growth, higher-return
businesses
EBOS has redeployed ~$2B of capital in the last 5 years to high-
growth businesses, including Medical Technology and Animal Care
Disciplined value creation
Together, the EBOS Group creates value through a focus on returns,
disciplined capital allocation, and repeatable M&A
~85% of our Group
EBITDA is from
businesses in #1 or
#2 positions
~$150m capital
available
2
for
future growth
investments
Our proof points
Higher-growth
businesses, including
Animal Care,
MedTech and RPB
now >70% of Group
EBITDA
1
Guiding to mid
single digit EBITDA
growth in FY27
1. Also includes high-growth businesses, e.g. in Contract Logistics and Medical Consumables
2. Based on Net Debt / EBITDA ratio of 2.30x vs June 2026 ratio of 2.1x and conservative target EBITDA multiple paid

Business of meeting

27
Item 1: Annual Report and Financial Statements
To consider and receive the annual report and the financial
statements for the year ended 30 June 2026 and the audit
report thereon

28
Item 2
Resolution 1 – Re-election of Director: Julie Tay
Ms Julie Tay was appointed to the EBOS Group Limited Board in May 2023.
Julie is currently a director of Sonova, a global hearing care solutions company, headquartered in Switzerland and
listed on the Swiss stock exchange.
She has over 30 years’ experience in international leadership roles across consumer healthcare, medical devices
and digital healthcare. Julie was most recently Senior Vice President and Managing Director, Asia Pacific and
member of the global Executive Management Committee for Align Technology.
Prior to this time, she was regional head of Bayer Healthcare (Diabetes Care) in Asia Pacific and also previously
held senior executive roles in Asia at Johnson Diversey and Johnson & Johnson.
She has also completed the International Directors Program at INSEAD, and is a member of the Young
President's Organization (YPO).

29
Item 3
Resolution 2 – Auditor’s remuneration
It is resolved that the directors of the Company be authorised to fix the fees and expenses of Deloitte as auditor of the Company.
Deloitte is automatically reappointed as the auditor of the Company under section 207T of the Companies Act 1993. Pursuant to section 207S of the Companies
Act 1993, this resolution authorises the directors to fix the fees and expenses of the auditor.

30
Item 4
To consider any other business that can be properly brought before the meeting

Conclusion