• Epsilon Pharma to manufacture and prepare GMP certified finished formulation products for Puro
• Initial 3-year term with forecast manufacturing revenue of AU $6M
• Agreement initially for supply in the UK, with expansion into the broader European region

Epsilon Healthcare Limited (ASX: EPN) has announced that its wholly owned GMP licensed Contract Development and Manufacturing Organisation (CDMO) subsidiary, Epsilon Pharma Pty Ltd, has entered into a new commercial manufacturing agreement with Puro New Zealand Limited ('Puro'). Puro is New Zealand's largest medicinal cannabis cultivator and the only BioGro certified organic producer in Australasia. Under the agreement, Epsilon Pharma will manufacture and prepare finished formulation products on behalf of Puro for export, initially to the UK during Q1, 2026, with exports to expand to strategic European countries in the near term. This agreement represents a new commercial partnership and reflects Epsilon's ongoing strategy to leverage its EU GMP certifications and compliance, expanded manufacturing infrastructure, technical expertise and export licensure to service international markets. The strategic partnership with Puro represents a significant milestone for Epsilon Pharma, enabling the Company to leverage its enhanced capabilities to support Puro's entry into the UK market and subsequent expansion into the broader European region. Based on Puro's volume forecasts, Epsilon expects manufacturing services revenue (to Epsilon) of approximately AU $2.0M (annualised) in 2026 and approximately AU $6.0M over the initial 3-year term, representing approximately 25% of 2025 Epsilon Pharma revenue.

Based on Puro's volume forecasts, the Agreement represents manufacturing services revenue (to Epsilon) of approximately AU $2.0M (annualised) in FY2026 and approximately AU $6.0M over the initial 3-year term.

This agreement is a milestone in Puro's evolution as a globally focused medicinal cannabis company, enabling the company to translate its organic, sun-grown New Zealand production into high-value finished products for patients and prescribers under the highest global standards. Epsilon sees this as the foundation of a long-term, strategic partnership supporting Puro's expansion across the UK and broader European region.