Phibro Animal Health Investor Presentation — May 2022

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Phibro Animal Health Corporation

Third Quarter Ended March 31, 2022Webcast and Conference Call

U.S. toll -free +1.888.330.2022

International toll +1.365.977.0051

Conference ID: [3927884]

May 5, 2022Important Information

Cautionary Statement Regarding Forward- Looking Statements

This communication contains forward -looking statements that are subject to risks and uncertainties , including with respect to future debt and leverage levels . All statements other than statements of

historical or current fact included in this presentation are forward- looking statements. Forward- looking statements discuss our current expectations and projections relating to our financial condition, results

of operations, plans, objectives, future performance and business. You can identify forward- looking statements by the fact that they do not relate strictly to historical or current facts. These statements may

include words such as “aim,” “anticipate,” “estimate,” “expect,” “forecast,” “outlook,” “potential,” “project,” “projection,” “plan,” “intend,” “seek,” “believe,” “may,” “could,” “would,” “will,” “should,” “can,” “can

have,” “likely,” the negatives thereof and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events.

These statements are not a guarantee of future performance or actions. If one or more of these risks or uncertainties materializ e, or if management’s underlying assumptions prove to be incorrect, actual

results may differ materially from those contemplated by a forward- looking statement. Forward- looking statements speak only as of the date on which they are made. Phibro expressly disclaims any

obligation to update or revise any forward- looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can

be found in our Quarterly Report on Form 10- Q and Annual Report on Form 10- K, including in the sections thereof captioned “Forward -Looking Statements” and “Risk Factors.” These filings and

subsequent filings are available online at www.sec.gov , www.pahc.com , or on request from Phibro.

Non-GAAP Financial Measures

We use non- GAAP financial measures, such as adjusted EBITDA and adjusted net income, to assess and analyze our operational resul ts and trends and to make financial and operational decisions.

Management uses adjusted EBITDA as its primary operating measure. We report adjusted net income to portray the results of our operations prior to considering certain income statement elements. We