ASX, BUB, Bubs, Market Update

11 December 2023, Melbourne

Bubs Australia Limited (ASX:BUB) (“Bubs” or “the Company”) is pleased to update the market on its sales performance in the USA, following the recent stock shortages.

KEY HIGHLIGHTS

• Bubs is experiencing strong growth and accelerating consumer demand in the USA despite recent stock shortages.
• Record weekly USA revenue of over $770k in November 2023
• USA full year FY24 net revenue is forecast to be at least $48m, up 100% on FY23
• Bubs® is the #1 infant formula goat milk in the U.S, with over 330,000 tins sold financial year to date by the end of November 20231 compared to 400,000 in full year FY23
• Bubs® ranged in over 5,900 stores across the USA
• The American Academy of Pediatrics (AAP) has now officially expanded its infant formula recommendations to include goat milk-based products. (https://www.forbes.com/sites/ninashapiro/2023/12/01/pediatricians-are-nowrecommending-goat-milk-formula-for-infants/?sh=167751d8d070)