Comvita Stakeholder Open Day

COMVITA STAKEHOLDER OPEN DAY
COMVITA STAKEHOLDER DAY
MAY 2023
POISED FOR TAKE OFF
PRESENTEDBY:
Brett Hewlett, Chairman
David Banfield, CEO
12 May2023

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Karakia
2

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Health &
Safety
3

COMVITA STAKEHOLDER OPEN DAY
4
David Banfield
COMVITA CEO
INTRODUCTION FROM

COMVITA STAKEHOLDER OPEN DAY
5
Brett Hewlett
COMVITA CHAIR
INTRODUCTION FROM

6
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Login using the
code:
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COMVITA STAKEHOLDER OPEN DAY
7
David Banfield
COMVITA CEO

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
8
Hawkes Bay Branch
CYCLONE GABRIELLE

COMVITA STAKEHOLDER OPEN DAY
9
01.
Number One
Brand
02.
~50 Years
Caring for Bees
03.
Comvita Labs
Founded 1974
04.
13
Subsidiaries
05.
557
06.
60:15:20
07.
50%
08.
US$9B →US$15BN
In markets
around the World
Team members in the
Comvita Whānau globally
2025 business plan
targeting $50M EBITDA
Total Addressable Market
(TAM) growth forecast
2022-2031
Targeting digital at 50%
of total sales by 2025
(currently 39% FY22)
Connecting consumers to
the power of nature
Company founded in
Paengaroa, BOP
Global brand leader in
Mānuka Honey and
Propolis
At a Glance
COMVITA

COMVITA STAKEHOLDER OPEN DAY
Poised for
Take Off
POISED FOR

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Agenda
11
01.
Comvita
On Track
02.
Stabilised
Performance
Sustainable supply +
virtuous business model
03.
Transforming our
Organisation
Confident in our
FY25 delivery
04.
Long Term
Resilience & Growth
Comvita evolution to
Lifestyle FMCG Brand
08.
Unrelenting Focus:
Performance & Impact
Strategic plan on track –
poised for take off
07.
Force for
Good
Purposeful impact through
our Harmony Plan
06.
Scientific leadership
and breakthroughs
05.
Growing our share across
all strategic markets
Our strategic three-part
plan is on track
POISED FOR TAKE OFF
Long Term
Resilience & Growth
Long Term
Resilience & Growth

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Long-Term
12
FOCUSED ON
VALUE CREATION

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Plan
FOCUS
2025
$50M EBITDA

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
2025 Plan
14
FOCUS
60% Gross Profit
15% Marketing
20% EBITDA

15
FY23 FIRST HALF
R ECAP
Headlines
*EBITDA is a non-GAAP measure. We monitor these as key performance
indicators and believe they assist investors in assessing the performance of the
core operations of our business.
61.9%
GROSS PROFIT
+530BPS
MARKETING TO
SALES RATIO
14% ADJUSTED EBITDA*
13.8%
14.0%

16
Strategic Plan
SECTION
OUR THREE POINT
-1-

17
OUR CAUSE
Working in harmony
with bees and nature in New Zealand
to heal and protect the world.
E reretauana, e mahi ngātahiana mātouko ngāpi me
te taiaoI Aotearoa, heiwhakaora, hei
manaakiānoI te AoTūroa.

Delivery
FROM DAY ONE
CONSISTENT

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Plan
19
OUR THREE POINT
PROGRESS AND UPDATE
Winning in Australia and New Zealand
Focus on fundamentals
Relentless simplification
Positive cashflow paying down debt
Inventory management
Underperforming assets
Customer focus
Flat organisation structure
New proven harvest model
Agile focussed team
$15M transformation plan
Reconnection with our cause
Aligned 5-year plan
US and China the engine for sustainable top and bottom-line growth
Simplified organisation – lowest headcount since 2011
Reducing breakeven point per month from $16.2M to $13.5M
Reduced debt <1 EBITDA relative to inventory value
STABILISE THE
ORGANISATION
TRANSFORMED
ORGANISATION
BUILD LONG
TERM RESILIENCE
AND GROWTH

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Arotahi / Focus
OUR CLEAR
TO 2025
ALIGNED
PURPOSE
& VALUES
UNIQUE
END-TO-END
CONNECTION
BUSINESS
MODEL
60:15:20
RELENTLESS
FOCUS ON OUR
CONSUMER NEEDS
THREE POINT
PLAN TO
2025
3 STAGES
CRAWL > STRIDE
> RUN

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022COMVITA STAKEHOLDER OPEN DAY
21
51.9
57.6
73.2
79.4
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
FY2019FY2020FY2021FY2022
Mainland China -Revenue $M
6.0
12.6
15.3
19.3
0.0
5.0
10.0
15.0
20.0
25.0
FY2019FY2020FY2021FY2022
Mainland China -Net Contribution $M
Momentum Building
FOCUS MARKETS
+15.2%
THREE YEAR CAGR
+47.8%
THREE YEAR CAGR

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022COMVITA STAKEHOLDER OPEN DAY
Delivering Profitable Growth
22
FOCUS MARKETS
13.4
22.1
24.7
31.8
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
FY2019FY2020FY2021FY2022
North America -Revenue $M
1.5
4.4
4.7
8.4
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
FY2019FY2020FY2021FY2022
North America -Net Contribution $M
+33.5%
THREE YEAR CAGR
+78.3%
THREE YEAR CAGR

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022COMVITA STAKEHOLDER OPEN DAY
Momentum Building
23
63.8
95.9
103.4
126.0
-
20.0
40.0
60.0
80.0
100.0
120.0
140.0
FY2019FY2020FY2021FY2022
Gross Profit $M
37.3%
49.0%
53.9%
60.3%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
FY2019FY2020FY2021FY2022
Gross Profit %

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022COMVITA STAKEHOLDER OPEN DAY
Momentum Building
24
--
1.2
2.4
-
0.5
1.0
1.5
2.0
2.5
FY2019FY2020FY2021FY2022
Transformation $M
7.7%
8.7%
12.6%
13.4%
0.0%
5.0%
10.0%
15.0%
FY2019FY2020FY2021FY2022
Marketing Investment %
26.7%
32.6%
34.2%
39.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
FY2019FY2020FY2021FY2022
Digital Share %

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022COMVITA STAKEHOLDER OPEN DAY
Momentum Building
25
-
19.1
25.5
30.1
-
5.0
10.0
15.0
20.0
25.0
30.0
35.0
FY2019FY2020FY2021FY2022
Reported EBTIDA $M
0.0%
9.7%
13.9%
16.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
FY2019FY2020FY2021FY2022
Normalised EBITDA %

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
26
35.8
48.5
59.4
69.4
-
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
NZD (millions)
Gross profit
For the 6 months ending
Dec-2019Dec-2020Dec-2021Dec-2022
-10.5
5.2
7.2
11.6
-15.0
-10.0
-5.0
-
5.0
10.0
15.0
NZD (millions)
Operating profit
For the 6 months ending
Dec-2019Dec-2020Dec-2021Dec-2022
-8.8
10.6
12.1
13.4
-10.0
-5.0
-
5.0
10.0
15.0
NZD (millions)
EBITDA
For the 6 months ending
Dec-2019Dec-2020Dec-2021Dec-2022
8.8
11.0
13.3
15.5
-
5.0
10.0
15.0
20.0
NZD (millions)
Marketing investment
For the 6 months ending
Dec-2019Dec-2020Dec-2021Dec-2022
H1 FY23
GROWTH CONTINUES
Momentum Building

COMVITA STAKEHOLDER OPEN DAY
$50M
EBITDA
ON TRACK
Pathway to $50M EBITDA by 2025
•ERP spend of c $3M in FY23 will continue into FY24 , none in FY25
•Transformation spend of circa $3.0M in FY23, will continue in FY24 none in FY25
•60:15:20 business model delivered by 2025
•As we unwind our Inventory holding this will also enable a material cash release in FY24
and FY25
27
Market
Consensus
Reported EBITDA
$33m
Indicative
Reported EBITDA
$35m
FY25 $50m
Reported EBITDA
ERP: +$6m
Trans.: +$3m
ERP: +$3m
Trans.: +$3m
FY25 $50m
Reported EBITDA
ERP: +$6m
Trans.: +$3m
ERP: +$3m
Trans.: +$3m
2025

COMVITA STAKEHOLDER OPEN DAY
Harmony
Plan
GENUINE
IMPACT
Climate action
leaders
Kaitiaki (guardians)
for bees
2
Restoring balance
4
1
Social and environmental impact
(1% model)
3

29
Stabilised
SECTION
PROFITABLE & SUSTAINABLE
-2-
BUSINESS MODEL

Balanced and agile
supply model, price
and supply linked to
demand
Minimum break-
even for every honey
harvest
Comvita forests at
highest yield and
quality with lowest
cost (+40:+60:-20)
Rapidly accelerating
environmental
benefits
Stabilised
SUSTAINABLE
PROFITABLE MODEL

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Harvest Model
COMVITA
2020
Successful for a fourth season
2021
2022
2023
Repeated successfully
Model proven
Launched and delivered
Now proven over FOUR consecutive years

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Supply & Demand
BALANCING
STAGE THREE
Current supply partner contracts ended December 2022
STAGE ONE
Launched in 2020 and proven 2021, 2022 and 2023
2
3
STAGE TWO
2021 started exiting some long-term supply contracts
4
1
STAGE FOUR
2023 supply model relaunched – supply and price linked directly to demand
Optimised
cash flow
Balance
Supply
Consumer
demand

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
33
Partnership as a core value
BELIEF IN LONG- TERM
MUTUAL RISK & REWARD

COMVITA STAKEHOLDER OPEN DAY
20,000
Hectares
TARGETING
FOREST HYPOTHESIS PROVEN
BY 2030

COMVITA STAKEHOLDER OPEN DAY
Integrated Systems
MODERN SCALABLE

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
36
Deliveryfrom day one
- Clear and consistent focus on where to play and how we will win
- Our three point strategic plan remains on track
-Momentum continues to build, supporting ongoing reinvestment in our markets
Proven resiliencein our model
- Comvita is fully covered by insurance for Cyclone Gabrielle
-Enhanced supply strategy to ensure Supply is aligned with Demand benefiting cashflow
-40:60:20 harvest contribution model proven:four successive years of break-even or
profitable harvest, despite adverse weathr conditions
-Forest performance proven, generating positive natural capital and financial benefits in
our end-to-end supply chain
Poised for take off
- We have stabilised our organisation, successfully delivering careful and considered
investments to amplify our strategic advantages in market
- Confident and clear line of sight to deliver 2025 targets
- Poised for take off and even greater acceleration
Business
RESILIENT
POISED FOR TAKE OFF

37
Transformation
SECTION
CONFIDENT IN OUR
-3-
DELIVERY

COMVITA STAKEHOLDER OPEN DAY
CONNECTING
CONSUMERS & OUR TEAM TO
THE HEALING POWER OF
NATURE

COMVITA STAKEHOLDER OPEN DAY
Best
ASPIRING TO BE
EMPLOYER

40
Wouldhighly
recommend Comvita
as aplaceto work
to others
Whatour teamis tellingus
GLOBAL
eNPS
92%of teamaround the world
providedinsights into Comvita’s
2023OurVoicesurvey.
2022
Baseline
2025
Goal
Materialshiftover 12 months of measurement in our
Employee Net PromoterScore (eNPS):
+70
77%
Are inspired
by t he purposeof our
organisation
78%
Havea strongbelief in our
productsand would
recommendto friendsand
family
88%
Believethe work
they do is
meaningful
81%
0
+21
COMVITA STAKEHOLDER OPEN DAY
CLIMBING
(Neutral)
(Positive)
2023
Update
(Aspiration)

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Best
Employer
JOURNEY FOCUS
Personal impact and legacy
Active in our Harmony Plan
Time to Heal programme – giving back as a team every year
>90% of global team as shareholders
Progressive Employee Value Proposition
Thrive wellbeing opportunities and support for whānau
Performance culture
Performance focused
Customer focused and digitally enabled
Data and insight driven
Optimised operating model, empowered and responsible teams
Targeted learning environment, underpinned by extraordinary
experiences
Talent and leadership development for the future
Meaningful connection
Connecting to our purpose and values
Te Ao Māori connection and learning
Work from anywhere, globally connected
Hive to Home experience
Connecting to our Consumer

42

COMVITA STAKEHOLDER OPEN DAY
Action
CLIMATE
LEADERSHIP

COMVITA STAKEHOLDER OPEN DAY
Carbon Neutral
COMMITTED TO
BY 2025
774T CO
2
e
GHG H1 INVENTORY
SCOPES 1 & 2
2022 H1: 652 T CO2e
+19%
4,748T CO2e
CARBON REMOVALS FROM MĀNUKA
FORESTS H1
2022 H1: 3,013 T CO
2
e
+54%
55,591T CO2e
CARBON STOCKS
SINCE MĀNUKA FOREST ESTABLISHMENT
2022 END OF YEAR: 35,840 T CO
2
e
+55%
92%
NZ PACKAGING PURCHASED-IN
RECYCLABLE
2022 89%
+2%

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Carbon
Neutral
45
THREE POINT
2025
Committed to science-aligned targets and becoming carbon
neutral by 2025
Audited and published GHG inventory across all emission scopes
globally
Ongoing performance measurement and transparent sharing of
results
Comvita forestplanting (20,000 ha by 2030) and maturity
delivering steeply increasing cumulative greenhouse gas removals
over time
Climate positive initiatives, to amplify proven biodiversity benefits
of native forest regeneration
Absolute and relative decarbonisation planning across all scopes
Improving packaging circularity: 92% recyclable, reusable or
compostable
Global waste reduction planning
COMMITTED TO
CARBON
NEUTRAL
GROWING
NATURAL CAPITAL
MITIGATION AND
ADAPTATION

46
Fully Circular by 2030
100% RECYCLABLE, SUSTAINABLE AND COMPOSTABLE BY 2025
LEADING INNOVATION IN SUSTAINABILITY

COMVITA STAKEHOLDER OPEN DAY
B-CORP APPLICATION
SUBMITTED
APRIL 2023

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
FY25
48
CONFIDENT IN OUR
DELIVERY
Business performance
•Continued double digit top and bottom-line growth in our two key growth markets of China and North America
•Continued double digit Mānuka honey products growth
•Expect to delivery on 50% of sales as Digital
•Confident in delivering on our 60:15:20 model by $2025 with $50M of Reported EBITDA
•Maintain expections of delivering double digit reported EBITDA growth in FY24 and FY25
Environmental and social
•Carbon Neutral by 2025 →Net Positive 2030
•Carbon stocks not yet valued
•First Climate Change reporting in FY24
•Continued investment in our forest strategy targeting up to 4,000 hectares of new forests planted each year
•97% of employees as Shareholders

49
Evolution to FMCG
Lifestyle Brand
SECTION
LONG TERM RESILIENCE
& GROWTH
-4-

Growth
TOTAL
ADDRESSABLE
MARKET
MANUKA
CATEGORY
HOUSEHOLD
PENETRATION
<1%
COMVITA
LIFETIME VALUE
GROWTH
2022
US$
9BN
US$
15BN
+
335%
>3%
GLOBAL HONEY MARKET
BASE
LINE
2030
OPPORTUNITY
EXCITING FUTURE

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
2025 Plan
51
FOCUS
60% Gross Profit
15% Marketing
20% EBITDA

COMVITA STAKEHOLDER OPEN DAY
Comvita
OUR CORE
RANGE
Mānuka
honey in a pot
SEASONAL
SUPPORT
Immunity
support for
cough, cold
and flu
ON-THE-
GO
Wellbeing at
its most
convenient
HEALTHY
SNACKING
Healthy
alternatives
to boost your
energy
HONEY +
PROPOLIS +
Powerful
ingredient
combinations
TOPICAL
TREATMENT
Including skin
care, medi-
honey.
CARDIAC
SUPPORT
Olive Life
QUALITY INGREDIENT
AND BRAND PARTNER

COMVITA STAKEHOLDER OPEN DAY
53
Andy Chen
REGIONAL CEO APAC
INTRODUCING

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Ideal She
COMVITA
TARGET CONSUMER
Strengthening our connection :
•30-50'swell-educated females
living in big cities
•Seeking a healthy natural way
to maximise life and energy
•Looking for authentic brands,
to help her become an “ideal
she” – i.e, a person full of
vitality with a healthy / natural
lifestyle
•Collaborating with brands she
loves
•Shares her ‘secrets’ through
social channels
•Creating special moments of
connection; like the Comvita
mooncake

COMVITA STAKEHOLDER OPEN DAY

COMVITA STAKEHOLDER OPEN DAY

COMVITA STAKEHOLDER OPEN DAY
58
Comvita
THE EVOLUTION OF
PREMIUM LIFESTYLE
CIIE SHOWCASE

COMVITA STAKEHOLDER OPEN DAY
Consumer
THE EVOLUTION OF COMVITA
PREMIUM LIFESTYLE

COMVITA STAKEHOLDER OPEN DAY
Consumer
THE EVOLUTION OF COMVITA
PREMIUM LIFESTYLE

COMVITA STAKEHOLDER OPEN DAY
Multiple Touch points
THE EVOLUTION OF COMVITA
PREMIUM LIFESTYLE
COMVITA
WELLNESS LAB
Auckland, NZ
HAYMARKET –
PHOENIX BEAUTY
Sydney, AU
KOREAN AIR
South Korea
CATHAY
PACIFIC
Hong Kong SAR

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
From Source to “She”
COMVITA
INGREDIENT PLATFORM
PRIMARY
PRODUCTIONINGREDIENTSCIENCE
PRODUCTS
CHANNELS
Propolis
Mānukahoney
OliveLeaf
Strategic
Partnership
Own beekeeping
& Forests
Own olive groves
PERSONAL
CARE
HEALTH CARE
FUNCTIONAL
FOOD
•E Commerce platforms
at 9 markets & web
partners globally
•Over 35 markets
thorough own 8 key
markets
•SAS, SIS branded stores
throughout Asian
markets
Digital
GlobalRetails
Own retail
Duty free
•Duty free stores at major
airports and Airline
inflight DF in Asian
markets

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Propolis
63
RE-LAUNCH
COMVITA

COMVITA STAKEHOLDER OPEN DAY
Olive Life
.
Tomorrow feels
good.

Olive Life
RE-LAUNCH
TOMORROW FEELS GOOD

COMVITA STAKEHOLDER OPEN DAY
Comvita
INNOVATION

COMVITA STAKEHOLDER OPEN DAY
67
Accelerated growth and value
•Capturing the popular trend of wellbeing and “snackified” health supplements
•Premium holistic marketing approach, with multiple touch points
•One new SKU quickly grew up to 10% of a single market's total revenue
•3,000 new customers already acquired, with $5m lifetime value
•Second million-dollar Asia NPD launched in the quarter
•From Comvita honey in a jar to lifestyle, premium FMCG
Honey +
PREMIUM FMCG
EXECUTION

COMVITA STAKEHOLDER OPEN DAY
68
Honey + Collagen
HONEY +

COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
Quality
OUR PREMIUM
IS IN DEMAND

COMVITA STAKEHOLDER OPEN DAY
Quality
OUR PREMIUM
IS IN DEMAND
SENSORY
ZERO
108
DAO DISHES
GELATO
ICECREAM
PREMIUM
DESSERT

COMVITA STAKEHOLDER OPEN DAY
Quality
OUR PREMIUM
IS IN DEMAND
PEETS
COFFEE
CINNABON
DESSERT
GRAND MARBLE
TOAST
IMMUNITY BOOSTING
HONEY WATER

COMVITA STAKEHOLDER OPEN DAY
Quality
OUR PREMIUM
IS IN DEMAND
PARK HYATT
SOFITEL
ABC COOKING
STUDIO
SNOW 51

73
Market Share
SECTION
GROWING
-5-
DIGITAL FIRST

REST OF
ASIA
ANZ
(Market Share from
Largest Customer)
23%
NORTH
AMERICA
2020
7%
2023
Market Share
Growing
GROWTH SINCE 2020
HONG KONG
(SAR)
MAINLAND
CHINA
39%
KOREA
56%
47%
21%
46%
25%
60%
75%
60%
25%

COMVITA STAKEHOLDER OPEN DAY
Accessed through omni-channel strength
•True omni-channel strategy, with cross channel
insights sharing to drive relevance and loyalty
•Healthy mix ensures maximum and resilience and
leverage to scale under a variety of
scenarios/conditions
•Aiming for 50% digital share by 2025
Customer
DIVERSE
CHANNELS
42%
29%
11%
16%
2%
DigitalDirect offlineRetailWholesaleOther

COMVITA STAKEHOLDER OPEN DAY
76
Omni-Channel
ENHANCING OUR
EXCELLENCE

COMVITA STAKEHOLDER OPEN DAY
77
Experiential
POTENTIAL VALUE FROM
IMMERSION
+200% NPS
+25% Loyalty
20x Multiple

COMVITA STAKEHOLDER OPEN DAY
78
REGISTER
WITH
COMVITA
TRY IN ONE
OF OUR
WELLNESS
LABS
GLOBALLY
Digital orders
delivered to your
home
SUBSCRIBE
ONLINE
WITH
COMVITA
Guaranteed
best value on
D2C
Give us feedback
on new product
releases
Connection
O2O

COMVITA STAKEHOLDER OPEN DAY

COMVITA STAKEHOLDER OPEN DAY
80
Holly Brown
CHIEF DIGITAL OFFICER
INTRODUCING

Technology
CHAMPIONING
TO DELIVER A
MULTI-SENSORY EXPERIENCE

Focus
85
DIGITAL | AGILE
AND GROWTH
1.
Digital First
2.
Proprietary Platform
3.
Lifetime Value +335%
Test & Learn
6.
Technology and Data Leaders
5.
Omni-Channel
4.
Test & Learn at Pace

86

Strategy
DIGITAL FIRST
FY25
GROSS MARGIN
ACCRETION
+ve
>50%
DIGITAL REVENUE
SHARE
> 9.0
CONSUMER NET
PROMOTER SCORE
+20%
AVERAGE
ORDER VALUE
GROWTH

Digital
FLYWHEEL
ACCELERATING OUR
9.2NPS
FY23 TARGET
>9.0
+9.9%
DIRECT TO CONSUMER
AOV GROWTH vs PCP
38.1%
DIGITAL REVENUE
+510 BPS vs PCP

89
Marketplace ChannelsComvita Owned Channels
Global
GROWING OUR
DIGITAL FOOTPRINT

COMVITA STAKEHOLDER OPEN DAY
+10.9%
THREE YEAR CAGR
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
FY17FY18FY19FY20FY21FY22FY23
Direct to Consumer Revenue $M
1H-FY20 to 1H-FY23
+30.6%
Consumer
OUR MOST INTIMATE
CHANNEL IS GROWING
THREE YEAR CAGR
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
FY20FY21FY22FY23
Digital Marketplace Revenue $M
1H-FY20 to 1H-FY23

COMVITA STAKEHOLDER OPEN DAY
REAL-TIME DATA FOR
ANALYTICS & INSIGHTS
PERFORMANCE
OPTIMISATION
MULTI-CHANNEL
ENGAGEMENT
PERSONALISED
JOURNEYS
FAST FEEDBACK
FROM CONSUMERS
CUSTOMER
SEGMENTATION
Insights
ABLE TO DELIVER
WE HAVEN’T HAD BEFORE

92
Digital Platform
PROPRIETARY
LAUNCHED MARCH 2022

93
ENGAGEMENT
IS GROWING
USER

RATING
4.8
AVERAGE PRODUCT

95
METRICS
ANALYSED HOURLY
REAL TIME
Actual sales snapshot

REPEAT
PURCHASE
RATE
AVERAGE
ORDER
VALUE
+910bps
versus PCP
+866bps
versus PCP
SITE
CONVERSION
RATE
+20bps
versus PCP
Performance
IMPROVEMENT SINCE LAUNCH

Returning Users
DELIGHTING
VALUE CREATION OF CUSTOMER RETENTION
6.0X
CONVERSION
RATE
1.2X
AVERAGE ORDER
VALUE
SESSION
DURATION
4X
SOURCE: GA last 6 months USA, ANZ & HK & Comvita SSP Platform data.
>7.0X
LTV
CHAMPION USERS

COMVITA STAKEHOLDER OPEN DAY
Revenue Potential
SIGNIFICANT
FROM MARGINAL GAINS IN PERFORMANCE
Conversion Rate New Users+1.0%$1.1M
Conversion Rate Returning Users+1.0%$2.35M
Abandoned Cart Reduction-10%$0.37M
Frequency of Use+15%$0.82M
Average Order Value+25%$1.35M
Grow marketable community+20%$0.76M
Total$6 – $7M
OpportunityAnnual value

COMVITA STAKEHOLDER OPEN DAY
“We are what we
repeatedly do. Excellence,
then, is not an act;
but a habit.”
- Aristotle

Test & Learn
REAL- TIME
THROUGH DIGITAL DATA
&CONSUMER ENGAGEMENT

101
MICRO
MANAGING
PEREFORMANCE
A|B TESTING
EDM OFFER EMPHASIS
GROSS REVENUE
+88%

102
WeChat Store
DIRECT TO CONSUMER
OPENING IN 2023

103

104
Dr. Jackie Evans
CHIEF SCIENCE OFFICER
INTRODUCING

105
Science
SECTION
& SCIENTIFIC
BREAKTHROUGH
-7-
LEADERSHIP IN

THE MOST
DIFFERENTIATED,
PROVEN,
& TESTED
MĀNUKA
IN THE WORLD

Standards
HIGHEST
>25
INDEPENDENT CERTS
& ACCREDITATIONS
>13
GLOBAL RESEARCH PARTNERSHIPS +
INTERNATIONAL ADVISORY BOARD
Tested
THE MOST
MĀNUKA IN THE WORLD
>34
TESTS
ON EVERY BATCH
>400K
TESTS RESULTS
FY22
FOR MĀNUKA

COMVITA INVESTS MORE IN SCIENCE,
THAN THE REST OF THE INDUSTRY COMBINED

109
Differentiates
COMVITA IP
45
COMVITA PATENTS
GRANTED
12
ADDITIONAL
PATENTS PENDING
+
US FROM THE REST

Clinical Trials
EXTENDED ADVANTAGE
He rourouwhaipainga
•A healthy NZ diet including Comvita Mānuka honey to improve
metabolic health
•$4M HVN programme
•Comvita is a founding industry member
OTHER research underway includes:
1. PFL® propolis for immunity
2. Impact of Mānuka honey on antibiotic resistance
UNDERWAY

WORLD- LEADING GASTROENTEROLOGISTS AND DIGESTIVE HEALTH RESEARCHERS
Science
INTERNATIONAL
ADVISORY BOARD

COMVITA LEPTERIDINE®
3,6,7-trimethyllumazine

Scientific
113
MORE
BREAKTHROUGHS
•Comvita Lepteridine®
•Unique natural compound found in Mānukanectar and honey
•Low molecular weight, drug-like structure
•Multiple clinically relevant biological targets
•Highly heat stable and in gastric and intestinal simulation model
•Patent protected
COMVITA STAKEHOLDER OPEN DAY

Clinical Trials
EXTENDING OUR IP ADVANTAGE
•SOOTHE: Mānukahoney for digestive health
•$1.3M investment over 2 years: $875K HVN grant
•Proprietary treatment: Comvita Lepteridine® patented Mānukahoney
•Unique To Comvita
•Ethics approved and recruitment ongoing
•Results expected in FY24
CONNECTING
CONSUMERS TO THE
HEALING POWER OF
NATURE

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022COMVITA STAKEHOLDER OPEN DAY
115
Only Nature Knows More

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022
116
Comvita Forests
SECTION
-8-

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022
C6,000
Hectares
CURRENT
FOREST HYPOTHESIS PROVEN
2023

COMVITA BUSINESS STRATEGY SESSION NOVEMBER 2022
20,000
Hectares
TARGETING
FOREST HYPOTHESIS PROVEN
BY 2030

COMVITA REWILDING
•Studies have now shown there is significant
ecological improvement in biodiversity as a
result of Mānukaforest planting by Comvita
•Three to five years of regeneration, post
planting, is long enough to support significant
ecological improvement – measured in
invertebrate density, and native bat and bird
activity
•Freshwater health is also likely to improve
withmature Mānukaplantings
•Forests at five years+ were comparable to very
mature forests (>30 years)
•We are hugely encouraged by the findings and
will continue to monitor and extend our
research.
Biodiversity
SUPPORTING
REGENERATION

-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
202220232024202520262027202820292030
tCO
2
Estimated Value of Carbon Credits
SPOT PRICE - $
TREASURY - $
$2.0M
2025
$
1.0M
$3.8M
$10.5M
INVENTORY REMOVAL VALUE
2030
$2.4M
2028
$6.0M
Carbon
POTENTIAL
VALUE

Supply
121
SYSTEM
HIGHEST
QUALITY
CONSUMER
BEST
PARTNER FOR
BEES
LOWEST
COST*
BEST
PARTNER FOR
LANDOWNERS
MOST
SUSTAINABLE
OPERATOR
*FOR DELIVERED QUALITY
BEST HEALTH
& SAFETY
FLEXIBLE
SUPPLY &
PRICING
MODEL
PROFITABLE & SUSTAINABLE

122
Force for Good
SECTION
-8-

COMVITA STAKEHOLDER OPEN DAY
Harmony
PLAN

COMVITA STAKEHOLDER OPEN DAY

COMVITA STAKEHOLDER OPEN DAY
Using Bees and
Beekeeping to support
people and wildlife in
Kenya, training local
Masai tribe how to keep
bees for sustenance and
funding education for
Masai women
Carlos Zevallos, Head of
Apiculture Development NZ,
providing on-the -ground
Apiary training in Kenya
125

COMVITA STAKEHOLDER OPEN DAY

COMVITA STAKEHOLDER OPEN DAY
Partnership
HARMONY PLAN
Comvita | Save The Kiwi
•After discovering >20 breeding pairs thriving in Mānuka forests
established by Comvita in 2021, we formed a Harmony Plan partnership
with Save The Kiwi
•Our mission is to develop progressively greater areas of kiwi-safe
habitats
•Our Kiwi predator management network 8,730 hectares
•28 kilometers of kiwi protection traplines
We have also sponsored the release of three kiwi chicksso far:
−Korakora
−Harmony
−Atawhai
FOR GOOD

COMVITA STAKEHOLDER OPEN DAY
Time to Heal
COMVITA
Comvita | Time to Heal
•A global programmeinspired by the healing power of nature.
•All Comvita team members participate annually
•A day away from the office, the store or the apiary, to make a
difference in the community or our natural environment
•Recent initiatives have included:
−Community garden development in the US
−Rewilding flood-affected areas in Australia
−Painting and landscaping in Aotearoa NZ, in support of native bird
life
−>3,000 care packs assembled and donated to local schools in
Aotearoa, New Zealand
−Building and donating community pantries in Aotearoa, New
Zealand
PROGRAMME

COMVITA STAKEHOLDER OPEN DAY
CONNECTING
CONSUMERS TO THE
HEALING POWER OF
NATURE

COMVITA STAKEHOLDER OPEN DAY
Poised for
Take Off
POISED FOR

COMVITA STAKEHOLDER OPEN DAY
131
Brett Hewlett
COMVITA CHAIR
SUMMARYFROM

COMVITA STAKEHOLDER OPEN DAY
132
Alan Bougen
CO- FOUNDER
INTRODUCING OUR

COMVITA STAKEHOLDER OPEN DAY
Q&A
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CODE WITH YOUR
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COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
134
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Login using the
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COMVITA STAKEHOLDER OPEN DAY COMVITA STAKEHOLDER OPEN DAY
135
HIVE STATIONS
FUNCTIONAL

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136
BREAK
REFRESHMENT

COMVITA STAKEHOLDER OPEN DAY
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