1enrico.petocchi@twiceresearch.it

April 2016

The history since 1986…

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• See video in home page www.biodue.com

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May 2015: IPO on AIM Italia

Floating

OfferStructure

Lock-up

Transaction

Offer Value

Listing

10,1%

12 months

Share capital increase

€ 4 mio

May 20, 2015

Share price€ 3.55 a share

Shareholders

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As of May 20th, 2015

Share capital € 4,005,540.00 represented by # 11,148,900 ordinary shares

31.309%

37.189%

0.291%

1.376%

0.397%

0.397%

18.144%

0.794% 10.104%

Benedetti Ruffo

Benedetti Vanni

Galletti Tamara

Nisica Roberto

Russo Enrico

Sforazzini Luca

Guesti Pierluigi

Honeyfarm S.r.l.

Market (new IPO Shares)

BioDue S.p.A develops, manufactures and distributes:

Medical devices

Skin cosmetics

Dietary supplements (solid and liquid) with a particular focus on herbal products

The Company is organized into two divisions:

Industrial Division: dedicated to the production on behalf of third parties of liquid andsolid food supplements, cosmetics, medical devices and herbal products;

Division under its own brand: dedicated to the production and marketing ofdermatological products, ophthalmic and food supplements.

In addition, BioDue integrates its offering with products "Private Label" for retail(pharmacies, drugstores, health food stores).

Business model

Food supplements(liquid)

Food supplements(solid)

Medical devices Skin cosmetics

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Production facilities

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Our offices, manufacturing and warehousingare 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

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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)

FORMULA

COSTUMER

SPECIFICATION

BIODUE VALUE CHAIN

PROCESSING

RAW MATERIALS

PRIMARY AND

SECONDARY

PACKAGING

COMPOUND

TRANSFORMATIONPACKING

QUALITY

CHECK

(*)

(*)

(#)

(#)

(#) Subsidiary

(*) Related party

S.r.l.

Industrial Division’s products are distributed directly to customers’ client through pharmacies and / orpharmaceutical information channels

Branded & Private Label products are marketed under the brands Pharcos (dermatology), biOfta(ophthalmic) and Selerbe (supplements)

Pharcos and biOfta are distributed through a network of 40 mono-firm agents that reaches all Italiandermatologists (Pharcos) and about 50% of Italian ophthalmologists (biOfta).

Selerbe products are distributed through a network of over 40 agents mono and multi-firm covering Italianterritory

Distribution model

CUSTOMER«INDUSTRIAL»

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Own brands: distribution channels

Final customer is induced to purchase by medicalreporting, the so called «blank prescription»; thisscheme obtains remunerative prices avoiding thecounter generic competition.

40 MEDICAL MONOFIRM REPRESENTATIVESMONO AND PLURI-FIRM

AGENTS

OCULIST

DERMATOLOGIST

PHARMACIES

PARAPHARMACIES HERBALISTS

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The "Private Label" acts as a customer loyaltyscheme to single pharmacy or herbalist’s shopThe "Private Label" acts as a customer loyaltyscheme to single pharmacy or herbalist’s shop

Established in 2011 in partnership with a competitor

IIt extracts active plant with technology and proprietaryknow-how to the final customer exclusively

LaBiotre provides Biodue raw materials for Selerbe’sproducts and natural plant extracts to be used in theproduction cycle

Established in 2014, in partnership with Enzo Emanuele, adistinguished pathologist and researcher that has beencooperating with Biodue since 2007

Developing, patenting and selling raw materials to be usedin cosmetics, food and medical devices

It provides raw materials to Biodue for cosmetics

Subsidiaries

These Companies are functional and complementary to the business of Biodue

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S.r.l.

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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%

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Balance sheet as of Dec 31, 2015Net working capital 31.12.2015 31.12.2014

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

Total uses (Net Capital Employed) 16,712 16,353

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

Total Financial Sources 16,712 16,353

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Financial 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

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Breakdown 2015 salesEuro/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 33,621 100% 30,009 100% 12.0%

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 33,621 100% 30,009 100% 12.0%

Marco Ulivagnoli

Board Member Investor Relations

Biodue spa

Via A. Lorenzetti, 3/a

Tavarnelle Val Pesa (FI)

+39 055 8071140

marco.ulivagnoli@biodue.com

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Contacts

Nomad

Baldi Finance S.p.A.

Antonio Boccia

Via San Damiano, 9 20122 Milano

Tel: +39 02 58318214

Fax:+39 02 58310893

antonio.boccia@baldifinance.it

Specialist

Integrae SIM S.p.A

Matteo Pontello

Via Meravigli, 13 20123 Milano

Tel: +39 02 78625313

Fax:+39 02 87181075

Matteo.pontello@integraesim.it