Q4 2025 Earnings Presentation February 18, 2026 Xandra Velzeboer Netherlands Short Track Speed Skating Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, re ...

Summary of Niagen Bioscience FY Conference Call Company Overview - Niagen Bioscience, formerly known as ChromaDex, focuses on nicotinamide riboside (NR), a precursor to the coenzyme NAD (nicotinamide adenine dinucleotide) [2][3] - The company has over 100 patents related to NAD precursors and has conducted 41 clinical studies and over 100 preclinical studies on Niagen [4] Core Product and Market Position - Niagen is positioned as the leading product in the NAD supplement space, with claims of improving cellular resilience and healthspan, particularly in aging populations [3][10] - The company has diversified its offerings, selling Niagen as a dietary supplement, a B2B ingredient, and as an injectable product [5][13] Financial Performance - Niagen Bioscience reported approximately $125 million in revenue and $20 million in net income over the last 12 months, with a strong balance sheet showing nearly $65 million in cash and no debt [20] - The company operates conservatively, focusing on maintaining a strong cash position and exploring growth opportunities [28] Growth Opportunities - The NAD IV market is rapidly growing, potentially surpassing the supplement market, with initial retail sales estimated between $50-$100 million in the first year [24][23] - Plans to launch a telehealth business for at-home injections are expected to cater to the growing interest in self-administered health products [15] Research and Development - Niagen Bioscience emphasizes R&D, investing significantly in understanding its products and their effects, with a commitment to quality science [18] - The company is exploring applications in orphan diseases, particularly those that cause rapid aging in children, with promising results from clinical studies [16] Skincare Market Potential - The company is pursuing opportunities in the skincare market, leveraging niacinamide, which elevates NAD but is less effective than NR [17] - Discussions with major global skincare companies are ongoing, with expectations for announcements in 2026 [18] Strategic Partnerships - Niagen has formed partnerships with networks of healthcare practitioners to educate consumers and promote its products [26] - The company aims to differentiate itself through scientific credibility and informed marketing strategies [27] Market Challenges - The company faces challenges from competitors and infringers in the NAD space, which can impact sales and market perception [22] - The stock has shown volatility, attributed to external market factors rather than company performance [20] Conclusion - Niagen Bioscience is well-positioned in the growing NAD market, with a strong financial foundation and diverse product offerings. The company is focused on expanding its market presence through innovative products, strategic partnerships, and a commitment to research and development [20][28]

Core Viewpoint - Niagen Bioscience, Inc. has partnered with Truemed to allow qualified customers to purchase its leading NAD+ supplement, Tru Niagen, using Health Savings Account (HSA) and Flexible Spending Account (FSA) funds, enhancing accessibility for consumers seeking nutritional support for cellular health [1][2][3] Group 1: Partnership and Accessibility - The partnership with Truemed enables a streamlined checkout experience for customers using HSA/FSA funds to purchase Tru Niagen [2][4] - Eligible customers can obtain a Letter of Medical Necessity (LMN) from a licensed provider to support their HSA/FSA eligibility [4][7] Group 2: Product Information - Tru Niagen is recognized as the number one NAD+ supplement in the United States, featuring Niagen, a patented form of nicotinamide riboside (NR), which is a highly efficient NAD+ booster [3][11] - The product is supported by over 40 peer-reviewed human clinical studies and more than 500 published scientific papers, highlighting its rigorous quality and scientific standards [3][11] Group 3: Company Background - Niagen Bioscience is a leader in NAD+ science and healthy-aging research, dedicated to advancing healthspan through innovative NAD+-boosting solutions [8][9] - The company collaborates with renowned scientists and research institutions globally to explore the potential of NAD+, which is crucial for cellular health and declines with age [9][10]

Core Viewpoint - Niagen Bioscience, Inc. has launched Tru Niagen® Beauty, the first beauty supplement in the US featuring Niagen, a patented form of nicotinamide riboside (NR), which is recognized as the most efficient and effective NAD+ booster available [1] Company Summary - Niagen Bioscience, Inc. is positioned as a global authority on NAD+ with a focus on healthy aging science [1] - The launch of Tru Niagen Beauty signifies an expansion of the company's leadership in NAD+ skincare science [1]

Financial Data and Key Metrics Changes - The company reported a record revenue of $31.1 million for Q2 2025, representing a 37% increase year over year, and a net income of $3.6 million compared to virtually breakeven a year ago [7][20]. - The cash position at the end of the quarter was $60.5 million with no debt [24]. - Gross margin improved to 65%, up from 60.2% a year ago, driven by lower cost inventory and higher e-commerce sales [22]. Business Line Data and Key Metrics Changes - E-commerce business generated $18.1 million in net sales, a 39% increase year over year [7][21]. - The food grade and pharmaceutical grade Niagen ingredient business grew 135% year over year, with revenue of $7.4 million [8][21]. - TRU NIAGEN revenue increased by 22% to $22.7 million, primarily driven by e-commerce revenues [21]. Market Data and Key Metrics Changes - The company is expanding its presence in wellness clinics, onboarding over 800 clinics nationwide to offer the Niagen Plus product line [8]. - The partnership with Watsons in Hong Kong is contributing to steady revenues, with plans for joint marketing efforts to grow brand presence [22]. Company Strategy and Development Direction - The company is focusing on expanding its Niagen Plus product line and exploring telehealth functionality on its website [9][8]. - A worldwide exclusive license agreement was signed with Haukeland University Hospital for the development of nicotinamide riboside as a potential therapy for Parkinson's disease [17]. - The company aims to maintain its position as the gold standard in NAD science and is committed to scientific innovation in the dietary supplement industry [14][20]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory and strategic goals, highlighting the strong demand for NAD products [19][20]. - The company raised its revenue growth expectation for the full year from 20%-25% to a range of 22%-27% year over year [27]. - Management noted ongoing scrutiny from California regarding outsourcing facility practices but remains optimistic about the partnership with Wells Pharmacy Network [9][10]. Other Important Information - The company has been featured in major media outlets and events, increasing awareness of its products [10][12]. - There is ongoing research into the effects of NAD supplementation on long COVID and fertility, with studies expected to be published soon [15][16][51]. Q&A Session Summary Question: Regarding the initiative for Parkinson's disease - Management indicated that if the NOPARC trial results are positive, they may pivot to nicotinamide riboside triacetate for FDA approval in the U.S. [30][32]. Question: Volume and pricing for NIAGEN IV in clinics - Management noted that while clinics are currently charging high prices for IV experiences, they believe prices need to come down to increase accessibility and volume [36][39]. Question: Steps for treating long COVID - The key milestone to watch is the publication of the Harvard study on NAD supplementation for long COVID, which could lead to a marketing campaign if results are positive [49][54].

Financial Data and Key Metrics Changes - In Q1 2025, the company reported revenues of $30,500,000, representing a 38% year-over-year increase [8][18] - Net income for the quarter was $5,100,000, compared to a net loss of $500,000 in Q1 2024 [21] - Cash generated from operations was $7,900,000, a significant increase from $300,000 in the same period last year [22] - The company ended the quarter with $55,600,000 in cash and no debt, maintaining strong liquidity [21] Business Line Data and Key Metrics Changes - E-commerce sales grew by 31% year-over-year, contributing significantly to revenue growth [9][18] - The food grade and pharmaceutical grade Niagen ingredient business saw a 95% increase, reaching $8,000,000 [9][18] - Gross margin improved to 63.4%, up from 60.7% a year ago, driven by a favorable product mix and cost savings [18] Market Data and Key Metrics Changes - The demand for NAD-boosting products is surging, with increasing consumer awareness of Niagen as a trusted solution [12][14] - The company aims to expand its presence in clinics, targeting 1,000 clinics by the end of 2025, with a potential addressable market of 2,000 to 3,000 clinics [42] Company Strategy and Development Direction - The company is focused on reinforcing Niagen as the leading NAD-boosting solution, aligning its brand with its mission of promoting healthy aging [15][16] - The pharmaceutical application of nicotinamide riboside (NR) is a key strategic initiative, with ongoing studies and FDA dialogues [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained momentum across e-commerce and ingredient businesses, raising the full-year growth outlook to 20% to 25% [22][23] - The company is committed to operational discipline and efficiency, with a focus on long-term profitability [26] Other Important Information - The company announced a new composition of matter patent granted in March, broadening its patent portfolio [11] - Management highlighted the importance of maintaining integrity and scientific rigor in the NAD supplement market [13][14] Q&A Session Summary Question: What are the emerging tailwinds for NIAGEN IV product adoption? - Management noted significant interest from clinics and physicians, with 600 clinics currently offering NIAGEN IV and expectations for increased sales [28][32] Question: Are there new promotional strategies for e-commerce? - Management indicated a focus on profitability and efficiency, with plans to increase presence on platforms like TikTok and engage with influencers [35][37] Question: What is the potential market for NIAGEN plus? - Management aims to onboard 1,000 clinics by year-end, with a larger addressable market identified [42] Question: What is the status of the injectable NIAGEN plus? - Management confirmed that an at-home version is in development, expected to be available by Q4 2025 [72][73] Question: What is the status of the FDA discussions regarding ataxia telangiectasia? - Active discussions are ongoing with the FDA, with a pre-IND submission made and feedback received [90][91]

Financial Data and Key Metrics Changes - In Q4 2024, the company reported record revenues of $29.1 million, a 37% increase year-over-year, and net income of $7.2 million [8][23] - For the full year 2024, net revenues reached $99.6 million, reflecting a 19% growth year-over-year, with net income of $8.6 million, a significant turnaround from a net loss of $4.9 million in 2023 [8][22] - The company generated $12.1 million in positive cash flow from operations in 2024, ending the year with $44.7 million in cash and no debt [9][28] Business Line Data and Key Metrics Changes - E-commerce channel net sales were $17.3 million, a 30% increase year-over-year, while food-grade and pharmaceutical-grade Niagen ingredient sales reached $5.3 million, a 96% increase year-over-year [9][24] - Tru Niagen-related sales increased by 29%, driven by a 30% growth in e-commerce and a 26% increase in combined Watsons and other B2B sales [23][24] Market Data and Key Metrics Changes - The company noted a growing demand for NAD-boosting products, with an increase in companies entering the market, some of which engage in misleading practices [10][11] - The company is actively working to address fraudulent activities in the market and is advocating for more regulatory oversight [11][105] Company Strategy and Development Direction - The company plans to leverage its position as an industry leader to promote consumer safety and product excellence [12] - A name change is anticipated to better align with the company's evolving mission and strategic direction [16][33] - The company is focused on expanding its pharmaceutical-grade ingredient business and enhancing its e-commerce presence [30][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the company's strong financial discipline and operational efficiency [22][32] - The company expects approximately 18% growth in net sales for 2025, driven by e-commerce expansion and established partnerships [30][32] - Management acknowledged potential risks related to supply chain issues but indicated confidence in resolving these challenges [62] Other Important Information - The company has initiated communication with the FDA regarding an investigational new drug application for NR in treating ataxia telangiectasia and is awaiting results from the NO-PARK study for Parkinson's disease [15][16] - The company plans to introduce new formulations and enhance existing products, including a subcutaneous injection version of Niagen [84] Q&A Session Summary Question: Can you discuss the stick packs and their performance? - The stick packs contain 300 milligrams and have seen increased sales, with plans for a marketing campaign in 2025 [36] Question: What is the status of the Elysium settlement? - The second payment of $1.3 million from the Elysium settlement is expected by the end of March [40] Question: When can we expect results from the NO-PARK study? - The study will be completed by June, but results may not be available until later [42] Question: How is the food-grade Niagen segment performing? - The food-grade ingredient business is expected to continue growing, with increased awareness and new partnerships [45] Question: What are the drivers behind strong e-commerce performance? - Improvements in Shopify performance and increased awareness of NAD contributed to e-commerce growth [54] Question: What is the company's strategy regarding supply chain risks? - The company has resolved previous supply chain issues and expects to maintain a steady supply moving forward [62] Question: What are the potential market opportunities for the Parkinson's study? - A positive outcome could significantly increase demand, with a large addressable market for those diagnosed with Parkinson's disease [112] Question: Will there be a spin-off for pharmaceutical initiatives? - A spin-off is a possibility if capital is insufficient for drug approval, but it is not currently expected [118]