May 2016 1 enrico.petocchi@twiceresearch.it The history since 1986 - PowerPoint PPT Presentation

May 2016 1 enrico.petocchi@twiceresearch.it

The history since 1986… 2

May 2015: IPO on AIM Italia Transaction Share capital increase 10,1% Floating Offer Value € 4 mio Offer Structure € 3.55 per share Share price 12 months Lock-up Listing May 20, 2015 3

Shareholders As of April 26 th , 2016 10.104% 0.794% Benedetti Ruffo 31.309% Benedetti Vanni 18.144% Galletti Tamara Nisica Roberto Russo Enrico Sforazzini Luca Guesti Pierluigi 0.397% 0.397% Honeyfarm S.r.l. 1.376% Market (new IPO Shares) 0.291% 37.189% Share capital € 4,005,540.00 represented by # 11,148,900 ordinary shares 4

Business model BioDue S.p.A develops, manufactures and distributes: Medical devices «Skinceuticals» (i.e. cosmetics suggested by physicians) Food supplements (solid and liquid, such as drops, capsules, tablets and powders) The Company is organized into two divisions: Industrial Division: dedicated to the production on behalf of third parties of liquid and solid food supplements, cosmetics, medical devices and herbal products; Own Brand Division: dedicated to the production and marketing of dermatological products – “ Pharcos ”, ophthalmic products – “ BiOfta ”, herbal products “ Selerbe ”, In addition, BioDue integrates its offering with products "Private Label" for retail (pharmacies, drugstores, health food stores). Food supplements Food supplements Medical devices Skinceuticals (liquid) (solid) 5

Production facilities Our offices, manufacturing and warehousing are located in Tavarnelle Val di Pesa Sambuca (Florence Area) On a property area of more than 11,500 square meters Registered under Reg. CE 852/2004 GMP certified (Good Manufacturing Practice) Quality and Safety Standards in accordance with Code of Federal Regulations, Title 21, Volume 2, part 111, of April 1, 2013) U.S. FDA Registration Number 10725095718 130 production lines (estimated replacement value significantly higher than the net amount) risk production fragmented, i.e. disaster recovery 6

Industrial process Full vertical integration of the production process, either directly or through subsidiaries and related parties. Any kind of production (liquid, solid and medical devices) is located in a different plant (130 production lines) BioDue VALUE CHAIN F ORMULA P RIMARY AND P ROCESSING C OMPOUND Q UALITY COSTUMER SECONDARY PACKING RAW MATERIALS TRANSFORMATION CHECK P ACKAGING SPECIFICATION (*) (#) (#) (*) (#) Subsidiary S.r.l. 7 (*) Related party

Distribution model Industrial Division’s products are distributed directly to customers’ client through pharmacies CUSTOMER «I NDUSTRIAL » Branded & Private Label products are marketed under the brands Pharcos (dermatology), BiOfta (ophthalmic) and Selerbe (herbal produtcs) Pharcos and BiOfta are distributed through a network of 50 mono-firm agents that reaches all Italian dermatologists (Pharcos) and about 75% of Italian ophthalmologists (BiOfta). Selerbe products are distributed through a network of over 45 mono and multi-firm agents covering Italian territory 8

Own brands: distribution channels 50 MONO - FIRM SALES REPRESENTATIVES 45 MONO AND PLURI - FIRM AGENTS O PHTHALMOLOGIST D ERMATOLOGIST P HARMACIES H ERBALISTS Final customer is induced to purchase by medical The "Private Label" acts as a customer loyalty The "Private Label" acts as a customer loyalty reporting, the so called «blank prescription»; this scheme to single pharmacy or herbalist’s shop scheme to single pharmacy or herbalist’s shop scheme obtains remunerative prices avoiding the counter generic competition. 9

Subsidiaries Established in 2011 in partnership with a competitor It extracts active ingredients from plants with technology and proprietary know-how LaBiotre provides BioDue raw materials for herbal’s products and natural plant extracts to be used in the production cycle : “from the seed to the final product” S.r.l. Established in 2014, in partnership with Enzo Emanuele, a interdisciplinary clinical pathologist and researcher with over 130 international publications, cooperating with BioDue since 2007 Developing, patenting and selling raw materials to be used in cosmetics, food and medical devices It provides raw materials to BioDue for cosmetics These Companies are functional and complementary to the business of BioDue 10

Profit & Loss account as of Dec 31,2015 31.12.2015 % 31.12.2014 % Revenues from sales and services 33,621 100.0% 30,009 100.0% Other revenues (incl. royalties) 142 0.4% 229 0.8% Total Revenues 33,764 100.4% 30,238 100.8% Cost of raw materials, consumables and goods 16,174 48.1% 14,739 49.1% Services cost 7,702 22.9% 6,638 22.1% Leases and rentals cost 414 1.2% 299 1.0% Personnel Cost 4,852 14.4% 4,543 15.1% Other costs 669 2.0% 426 1.4% Change in inventories (741) -2.2% (374) -1.2% EBITDA 4,694 14.0% 3,966 13.2% Ammortization and write-downs charges 1,055 3.1% 977 3.3% EBIT 3,639 10.8% 2,988 10.0% Financial charges and Extraordinary items (33) -0.1% (82) -0.3% EBT 3,606 10.7% 2,906 9.7% Income taxes 1,240 3.7% 1,180 3.9% Net profit 2,367 7.0% 1,726 5.8% 11

Balance sheet as of Dec 31, 2015 31.12.2015 31.12.2014 Net working capital Inventories 3,848 3,106 Trade receivables 10,018 9,141 Other current assets 892 880 Current assets 14,757 13,127 Trade payables (5,995) (4,606) Other current liabilities (1,526) (1,272) Current liabilities (7,521) (5,878) Total Net working capital 7,237 7,250 Uses Net working capital 7,237 7,250 Fixed assets 9,445 9,074 Other non current assets and liabilities 30 30 16,712 16,353 Total uses (Net Capital Employed) Financial Sources Net Equity Share Capital 4,006 3,600 Reserves 7,547 2,803 Profit for the period 2,367 1,726 Total Net Equity 13,919 8,129 Retirement Funds 956 878 Net Financial Position 1,838 7,346 16,712 16,353 Total Financial Sources 12

Cash Flow Statement as of Dec 31, 2015 Cash Flow Statement 31.12.2015 31.12.2014 Cash Flow from operating activities (A) 3.330 3.510 Cash Flow from investing activities (B) (1.269) (7) Cash Flow from financing activities (C) (420) (3.543) Increase (decrease) on Cash and Cash Equivalents (A ± B ± C) 1.640 (40) Cash and Cash Equivalents af January, 1 49 89 Cash and Cash Equivalents af December, 31 1.689 49 13

Breakdown 2015 sales Euro/000 2015 % 2014 % Delta % By Division Industrial Division 19,286 57.3% 17.596 58,6% 9,6% Pharcos Brand 8,229 24.5% 7,521 25,1% 9,4% Selerbe Brand 3.657 10.9% 3,025 10,1% 20.9% BiOfta Brand 2.106 6,3% 1,625 5.4% 29.6% Other minor 343 1.0% 242 0.8% 41.7% Total sales 33,621 30,009 12.0% 100% 100% By Geographical Area Local (Italy) 30,096 89.5% 27,614 92.0% 9.0% Foreign (other UE and Extra UE contries) 3,525 10.5% 2,395 8.0% 47.2% Total sales 33,621 30,009 12.0% 100% 100% 14

Breakdown 1Q2016 sales Euro/000 March 31, 2016 % March 31, % Delta % 2015 By Division Industrial Division 5,361 63.1% 4,798 62.0% 11.7% Pharcos Brand 1,499 17.6% 1,558 20,2% -3.8% Selerbe Brand 1,107 13.0% 924 12.0% 19.8% BiOfta Brand 447 5.3% 373 4.8% 19.8% Other minor 80 1.0% 78 1.0% 2.6% Total sales 8,494 7,731 9.9% 100% 100% By Geographical Area Local (Italy) 7,762 91.4% 7,025 90.9% 10.5% Foreign (other UE and Extra UE contries) 732 8.6% 706 9.1% 3.7% Total sales 8,494 7,731 9.9% 100% 100% 15

Contacts Nomad Specialist Marco Ulivagnoli Baldi Finance S.p.A. Integrae SIM S.p.A Board Member Investor Relations Antonio Boccia Matteo Pontello BioDue spa Via San Damiano, 9 20122 Milano Via Meravigli, 13 20123 Milano Via A. Lorenzetti, 3/a Tel: +39 02 58318214 Tel: +39 02 78625313 Tavarnelle Val Pesa (FI) Fax:+39 02 58310893 Fax:+39 02 87181075 +39 055 8071140 antonio.boccia@baldifinance.it Matteo.pontello@integraesim.it marco.ulivagnoli@BioDue.com 16