Here is the latest investor presentation for BarFresh Food Group, Inc.….GREAT look at how far the company has come and more important how much opportunity lies ahead!

1. Presentation to:
Investor Group

2. Disclaimer
 This Presentation has been prepared and is issued by Barfresh Food Group Pty Ltd and its controlled entities
(collectively referred to as “Barfresh” or the “Company”) solely to assist Investor (“Investor”) in considering
providing capital to Barfresh.
 The purpose of this Presentation is to provide Investor pursuant to a confidentiality agreement with general
information concerning Barfresh and to assist Investor in deciding whether to investigate the possible provision of
capital to Barfresh. Accordingly, information contained herein should not be disclosed to third parties.
 The information contained in this Presentation has been prepared in good faith by Barfresh and their financial
advisers. This Presentation is intended as a guide only and does not purport to contain all information Investor may
require in investigating the provision of capital to Barfresh. None of Barfresh, their shareholders nor their respective
subsidiaries, jointly owned entities or associated companies or their respective businesses, shareholders, directors,
partners, officers, employees, agents or advisers (collectively, the “Barfresh Affiliates”) make any representation or
warranty, express or implied, as to the accuracy, reliability or completeness of the Information contained in this
Presentation or subsequently provided to Investor or its advisers by any of Barfresh Affiliates including, without
limitation, any historical financial information, any estimates and projections and any other financial information
derived there from, and nothing contained in this Presentation is, or shall be relied upon as, a promise or
representation, whether as to the past or the future.

3. Overview
 Company Background & Key Events
 Technology & Intellectual Property
 Smoothies
 New Products and Brands
 Australia/New Zealand & Middle East Position
 Current Global Smoothie Market
 US Position
 Capital Raising
 Other International Markets
 Manufacturing Facilities
 Barfresh Ownership
 Investment Proposition

4. Company Background
• Established in 2005 by Riccardo Delle Coste
• Developed the world first patented portion controlled smoothie ingredient pack, suitable for Smoothies,
Mocktails and Cocktails.
• Identified market need for food retail outlets to compete in the growing healthy beverage market.
• Australia’s Leading ‘Ready to Blend’ beverage manufacturer.
• Food retail outlets have the need for convenience, portion control, product consistency, zero waste, and
speed of service in delivery of beverages – Barfresh products are designed to meet these requirements.
• Barfresh have invested heavily in protection of intellectual property, development of manufacturing process
and development of product range.
• Initially focussed on building strong footprint in Australia and building business through chain groups –
securing Subway Australia has been a landmark step.
• Through the Subway relationship Barfresh commenced focussing on expansion opportunities in the US and
other international markets and has spent considerable funds in this regard. Future expansion into the US
will be through a JV whereby all costs are funded by the JV partner.
• Manufacturer and supplier to Subway restaurants in Australia, New Zealand and the Middle East.
• Ice cream and sour cream supplier to the foodservice market.
• Barfresh Products are currently sold in Australia,
New Zealand, the Middle East, USA and Singapore

5. Key Events
2004 Recognised market opportunity
2005 Lodged patent applications
First pack prototype (2 part pack - frozen ingredients in 1, juice separate)
First Packaging Method Designed
Designed and implemented Manual Manufacturing Process
Secured external funding
Launched product to local foodservice market
2006 Hired first staff member in sales role
Commenced contract manufacturing
Signed first chain group (AMF Centres - 50 locations)
Sales volumes exceed production capacity
Commissioned company to design process and equipment
Secured second round funding
2007 Initial product presentation and discussions with Subway Australia
Secured Jesters Chain (45 stores)
Approached by various groups for Asian distribution
Completed market feasibility, due diligence with JV partners - decided to focus on existing operations
Reengineered production process - semi-automated machine
Commissioned new machine in new contract manufacturer
Commenced discussions with Subway USA
1st Stage trials with Subway Australia stores - 5 stores - Concept & Consumer Testing (exceeded their expectations)
2008 Patents granted
Sales volumes exceed production capacity
Identified and tested second contract manufacturing facility
Re-engineered product format - all inclusive (just add water)
Launched into Singapore market securing first distributor and key account (coffee chain)
2nd Stage Trials with Subway Australia stores - Operations Test - 25 stores (exceeded their expectations)
Winner of Blendtec Café Cocktail Competition Award Australia
Finalist Best New Hospitality Product - Fine Food Australia

6. Key Events
2009 3rd Stage Trials with Subway Australia stores - Market Test - 100 stores (exceeded their expectations)
Commenced discussions with Subway New Zealand
Commenced production from second contract manufacturing facility
Commenced rollout to Subway Australia stores (600 by year end)
Trials with Subway New Zealand - Only Market Test Required
Invited to exhibit as new product at Subway US International Convention
Increased focus on US expansion - exhibited product at National Restaurant Association Show in Chicago
Commissioned second manufacturing machine - allowed high speed production
Appointed sales agent for Californian market
2010 Continued rollout with Subway Australia stores (ongoing - currently 840 stores)
Commenced rollout to Subway New Zealand stores (All 218 stores completed)
Continued focus on US market - growing pipeline of opportunities and manufacturing strategies
Continued development with Subway US
Appointed sales agents for Middle East and New Zealand
Acquired existing ice cream business (additional revenues and production capability)
Established own manufacturing facility
2011 Signed 3 year supply contract with Subway Australia
Signed 3 year supply contract with Subway New Zealand
Continued establishment and improvement of manufacturing facility
Established "Warm Room" for incubation of Sour Cream
Secured first bulk food service customer for Sour Cream $500k p.a.
Won the NSW Public Hospitals Supply as well as other major healthcare providers.

7. Technology
 Barfresh has specifically designed its manufacturing processes and its own machines to provide
the ability to combine a number of different ingredients in a portion controlled manner.
 These ingredients are of different matter (e.g. liquid, chilled solids, frozen) and to do this using
frozen ingredients is extremely difficult.
 The intellectual property that has been developed by Barfresh has been patented in a number of
countries (including Australia) and has a patent pending in many more (including USA).
 During the last 3 years, the manufacturing process has been a constant focus for development
and has evolved from a manual process to the current high speed production process that is
accurate and has little waste.
 After poor experiences utilising a number of contract manufacturers, Barfresh has established its
own manufacturing and storage operations. This will provide high margins and better control
over a core area of the Barfresh business.

8. Intellectual Property
 In addition to the patented technology, the manufacturing process together with the combination of
machinery involved contains significant intellectual property not easily duplicated, even though not
patented.
 Patents Pending:
• Brazil, Canada, Europe, Indonesia, Israel, India, Japan, South Korea, Mexico, Philippines, USA,
Thailand, Malaysia
• Europe includes: Austria, Belgium, Bulgaria, Switzerland, Cyprus, Czech Republic, Germany,
Denmark, Estonia, Spain, Finland, France, UK, Greece, Hungary, Ireland, Iceland, Italy, Lithuania,
Latvia, Lichtenstein, Luxembourg, Monaco, Netherlands, Poland, Portugal, Romania, Sweden,
Slovenia, Slovakia, Turkey.
 Patents Granted:
• Australia
• New Zealand
 Patents Registered:
• Singapore
• Russian Federation
• South Africa
 Patents Accepted:
• China

9. Smoo Smoothies
• “Ready to Blend” smoothie ingredient packs containing fruit, juice, ice and either
yoghurt, sorbet or ice cream. Just add water and blend. Dairy free and yoghurt based
smoothies are 99% fat free.
• Multi-award winning smoothie products in the foodservice category
• Cafe Cocktail of the Year Award (Cafe Biz Expo – Cafe Culture Magazine - Winner)
• Best New Hospitality Product (Fine Food Trade Show Brisbane - Finalist)
• Best New Foodservice Product (Food and Hotel Expo Melbourne - Finalist)
• Massive food service distribution:
• Over 2000 outlets
• Exported in foodservice channel to New Zealand, Singapore, Middle East and the USA
• Some of our key accounts include Subway Restaurants in Australia, New Zealand and the Middle East,
AMF Bowling Centres, Jesters Pies, Event Cinemas (formerly Greater Union).

10. Portion Controlled Product Ingredient Pack
 Portion controlled beverage ingredient
packs, suitable for Smoothies, Cocktails
Real Fruit Pieces and Mocktails.
 Includes ALL the ingredients (not just
Ice some) – even the ice.
 Real ingredients – no syrups or powders.
Juice  Faster and easier to make blended
beverages (<40secs).
Sorbet, Low Fat Frozen  No waste and consistent quality
Yogurt or Ice Cream
 Less labour required.
 Less retail space required.
 Inventory Control
STRONG MARKET APPETITE ACROSS ALL PLAYERS
(Foodservice, retail chains and even existing juice bar groups)

11. Easy As 1 2 3
1. Add Water 2. Empty Ingredient 3. Blend & Serve
pack into blender
Note: For Cocktails simply reduce the amount of water by the amount of
alcohol added.

12. Promotional Material
• Established in 2005

13. Delicious and Nutritious
Mixed Berry Mango Banana Tropical Caribbean
Mango Delight Strawberry Cookies & Cream
*Also available in Peach, Passionfruit & Watermelon

14. Subway Australia Marketing and Advertising Material
In store point of sale material:
Menu board, window cling, under menu
hanger, counter cards
Television Commercial
Radio Ad

15. Subway In Store

16. New Products and Brands
Sour Cream
Ice Cream
Other Products
• Traditional Gourmet Italian Gelato
• Yoghurt - Fresh set, stirred and frozen
• Custards – Chocolate & Vanilla
• Mousse – Chocolate & Vanilla

17. Australia, New Zealand & Middle East Position
 Subway Australia commenced roll out of products to 840 stores with remaining 200 stores yet to be completed
 Subway New Zealand has completed its roll out to all 218 stores.
 Key customers (other than Subway) are:
• AHL Group – Rydges Hotels & Greater Union Cinemas (affiliated with Cinestar Group – Dubai)
• AMF Bowling Centres Chain
• Jesters Pie Chain
 Sales team focused on expanding Australian sales to other chains and foodservice outlets (through distributors)
 Recently established manufacturing and storage facility to bring manufacturing in-house.
 Acquired ice cream business – provided equipment, expertise and additional revenue.
 With the new manufacturing facility now operating and increased capabilities, Barfresh has been able to
competitively produce new products and secure new customers.
 Barfresh is uniquely positioned to capitalise on opportunities in the foodservice, retail chains, and direct to
consumer markets via supermarkets.

18. Current Global Smoothie Market
 Growing focus of global markets on health and wellness – this flows directly to eating habits,
lifestyle and obesity issues.
 The five main areas of focus for future growth in the beverage market are:
• All natural claim – consumer prefer natural formulations
• Functional ranges – bone health (calcium and vitamin D)
• Superfruits – high in antioxidants
• Low allergen ranges – gluten and lactose free ranges
• Better for you – low/no sodium, fat, sugar, calories, etc.
 Barfresh products are able to satisfy each of the above criteria
 Food retail outlets have the need for convenience, portion control, product consistency, zero
waste, and speed of service in delivery of beverages. This is also relevant for existing juice bar
outlets.
 Barfresh’s patented technology and product range meets the retail needs to deliver to a growing
health conscious consumer market which demand quality of product with convenience and
supportable health benefits.

19. US Position
 Initially established a US Corporation (Barfresh Inc.) and appointed a sales agent to assist in development of
other US foodservice opportunities.
 The focus for US expansion was based around Subway relationship and Barfresh has expended significant
funds in developing the US position (refer financial information).
 Given the funding requirement to properly establish US operations it was decided to form a joint venture with a
US group whereby Barfresh contributed its intellectual property and the US group provided all the necessary
funding.
 There is significant opportunity in the US with Subway, Dunkin Donuts, Starbucks, Taco Bell, Jamba Juice (all of
whom we are currently in discussions with) amongst others. The decision to JV was largely driven to bring in
partners who can assist in delivering the upside but also removing the need for Barfresh Australia to continue
funding costs.
 With the recent roll out of smoothies by McDonalds and the upcoming introduction of smoothies by Subway and
other major chains, the consequential advertising is expected to significantly increase the overall demand for
smoothies.

20. US Position – Subway Opportunity
 Commenced discussions with Subway USA in 2007.
 As a result of lack of funding the correct flavour development for the US consumer was not
undertaken prior to the Subway’s consumer taste testing. The product was not considered sweet
enough for the US palate compared to the artificially flavoured product of Coke.
 Coke has a worldwide supply agreement with Subway and has been aggressively chasing this
business.
 The Barfresh product has been placed on hold until the Coke product is further tested.
 Whilst the US program is on hold we have interest from other Subway US Development Agents that
wish to trial our product.
 We also have feedback that the Coke product has some rather larger hurdles to overcome to be
successful, such as, the equipment cost, the need for plumbed water (extra cost) and the need for ice
as well as questionable nutritional value. All these issues are overcome with the Barfresh product.
BARFRESH COKE
Equipment Cost $500 $2000
Requires Ice
NO YES
(not all stores have ice machines)
Requires Plumbing in Store No YES
Real Fruit Pieces YES NO
All Natural YES NO

21. US Position – Subway Opportunity
 Assumption: 100 units per store, per week is sold.
 Potential volume of sales dependant on rollout is as follows:
• 100% Rollout (25,000 stores) – 130 million units per annum
• 75% Rollout (18,750 stores) – 98 million units per annum
• 50% Rollout (12,500 stores) – 65 million units per annum
 Based on current proposed pricing, the expected profit from sales to Subway using a contract
manufacturer is $20 million to $30 million per annum.
 If the manufacturing is conducted “In House” by Barfresh, the additional profit would be $5
million to $10 million per annum.
 The proposed pricing has been structured to provide an incentive to Subway for a full roll out and
is within Subway’s target pricing to achieve gold status for their cost of goods.
 There is the possibility of ensuring a significantly higher roll out percentage if the equipment is
provided “Free On Loan”, however this would require additional capital expenditure by Barfresh.

22. US Position – Dunkin Donuts
 Dunkin have requested to be part of the flavour development and Barfresh is working with
Executive Chef of Dunkin to further develop unique flavours for Dunkin Brands
 Assumption: 245 units per store, per week is sold - high volume retail beverage outlet
 Potential volume of sales dependant on rollout is as follows:
• 100% Rollout (6,700 stores) – 85 million units per annum
• 75% Rollout (5,025 stores) – 64 million units per annum
• 50% Rollout (3,350 stores) – 42 million units per annum
 Based on current proposed pricing, the expected profit from sales to Dunkin using a contract
manufacturer is $13 million to $19 million per annum.
 If the manufacturing is conducted “In House” by Barfresh, the additional profit would be $3
million to $6.5 million per annum.
 There is the possibility of ensuring a significantly higher roll out percentage if the equipment is
provided “Free On Loan”, however this would require additional capital expenditure by Barfresh.

23. US Position – Starbucks
 Barfresh was recently approached by Starbucks US after several meetings to participate in the
development of their new smoothie range. Barfresh has recently executed a confidentiality
agreement and will be working closely with Starbucks on this project.
 Assumption: 210 units per store, per week is sold – high volume retail beverage outlet
 Potential volume of sales dependant on rollout is as follows:
• 100% Rollout (11,000 stores) – 120 million units per annum
• 75% Rollout (8,250 stores) – 90 million units per annum
• 50% Rollout (5,500 stores) – 60 million units per annum
 Based on current proposed pricing, the expected profit from sales to Starbucks using a contract
manufacturer is $18 million to $27 million per annum.
 If the manufacturing is conducted “In House” by Barfresh, the additional profit would be $4.5
million to $9 million per annum.

24. US Position – Taco Bell
 Barfresh was previously working with Taco Bell on the smoothie program and whilst we met
pricing and flavour profiles for the group, we were requested to further automate the delivery of
the smoothie in store to remove the manual handling as these are very high volume stores.
 Barfresh has a prototype in development that should be able to service this need, which would
then be able to be used for many other customers also.
 Assumption: 290 units per store, per week is sold – high volume retail beverage outlet
 Potential volume of sales dependant on rollout is as follows:
• 100% Rollout (5,400 stores) – 81 million units per annum
• 75% Rollout (4,650 stores) – 61 million units per annum
• 50% Rollout (2,700 stores) – 40 million units per annum
 Based on current proposed pricing, the expected profit from sales to Taco Bell using a contract
manufacturer is $12 million to $18 million per annum.
 If the manufacturing is conducted “In House” by Barfresh, the additional profit would be $3
million to $6 million per annum.

25. US Position – Jamba Juice
 Through a joint venture with Oregon Ice Cream, Barfresh is exploring opportunities to provide its
products to Jamba Juice (both existing and new distribution channels).
 Jamba Juice is a well established juice bar group in the US with approximately 750 stores.
 There are four key opportunities for Barfresh products:
• Jamba Express Stores (small locations/high volumes)
• Limited Time Only Promotions (promo flavours to existing 750 stores)
• Best Selling Lines - existing 750 stores – to allow faster production of high selling items during peak
times
• Revamping existing Jamba retail product (in conjunction with In-Adventure)
 Jamba Juice are in discussions with a number of groups with large numbers of outlets that would
be suitable for Jamba Express stores. This could grow to thousands of outlets.

26. US Position – Jamba Juice
 Assumption: 350 units per store, per week is sold – Smoothie specialist outlet – High Volume
 Potential volume of sales dependant on rollout is as follows:
• 100% Rollout (10,000 stores) – 182 million units per annum
• 75% Rollout (7,500 stores) – 136 million units per annum
• 50% Rollout (5,000 stores) – 91 million units per annum
 Based on current proposed pricing, the expected profit from sales to Jamba Juice using a
contract manufacturer is $27 million to $40 million per annum.
 If the manufacturing is conducted “In House” by Barfresh, the additional profit would be $7
million to $13 million per annum.
 Based on our observations with respect to the above four key areas, there is an opportunity for
Barfresh to make a profit in excess of $30 million per annum.

27. US Position – Summary
Estimated Annual Estimated Profitability Estimated Profitability
Customer No of Stores Volume * (using Contract Manufacturer) (In-house Manufacturing)
Starbucks 11000 120,000,000 $ 27,000,000 $ 36,000,000
Dunkin 6700 85,000,000 $ 19,000,000 $ 25,500,000
Taco Bell 5400 81,000,000 $ 18,000,000 $ 24,000,000
Subway 25000 130,000,000 $ 30,000,000 $ 40,000,000
Jamba Juice 10000 182,000,000 $ 40,000,000 $ 53,000,000
 Based on the limited number of key accounts which we are currently dealing with, there is a very
large opportunity in the US
 Initial discussions are with Taco Bell , but if successful there is the opportunity to expend to the
rest of Yum Brand retail outlets.
* As indicated by the customer

28. Capital Raising
 The existing Barfresh shareholders have provided debt and equity in excess of $10m and are
keen to have other parties provide debt or equity to fund the US expansion.
 The timing and amount of capital required by Barfresh will be dependent upon the rollout
timetable of any of the accounts, it is proposed that the funding be provided in tranches,
presumably at different valuations at different times
 Additional funds will be required once there is an agreed rollout commitment by a customer, as
machinery and substantial stock will be needed.
 Once a commitment by a key customer to rollout to a substantial number of stores, which would
require manufacturing in at least three sites in the US, the amount needed to acquire the relevant
machines and finance the stock needed would depend on the level and timing of the customers
requirements, it would be expected to be between $10m and $20m but possibly significantly
higher depending on whether Barfresh becomes the manufacturer.
 No calculation has been made if manufacturing is to be done by Barfresh, at a plant it establishes
or in a business it acquires.

29. Capital Raising – Use of Funds
 Accelerate US expansion in terms of:
• New manufacturing equipment to commence US supply;
• Stock build and provide product and equipment for trials with key customers
• Key Personnel
• Branding and marketing;
• Setup of US infrastructure.
 Continued development of automated product delivery system
 Develop organisation structure to support growth.
 Continued product development.

30. Other International Markets
 International growth strategy is focussed on leveraging Multinational key account footprint and
then securing other key accounts in the region to provide a platform for growth.
 Subway Middle East are in the final stages of testing and are expecting an official approval to
rollout - these will be manufactured in Australia.
 Subway Puerto Rico, Brazil and UK have also expressed interest and discussions are underway
with other key regions.
 Have appointed agent for Middle East – already secured certain chain accounts (Cinestar) and
in discussions with others throughout the Middle East.
 Recently appointed new agent in Singapore for Asian market – key performance targets have
been set and container sales are starting to flow.

31. Manufacturing Facilities
 Until December 2010, Barfresh had historically used contract manufacturing for the production of its
products – this was difficult, expensive and resulted in poor delivery to customers.
 A new (State Of the Art) food manufacturing facility in the centre of Sydney boasting A-Grade dairy
manufacturing capabilities. This has resulted in significantly greater production efficiency than with
contract manufacturer
 Barfresh is able to process and pack in excess of 24 Tonnes of product per day and has capacity for1200
pallets of frozen product storage on site.
 In operation since December 2010, Barfresh has a fully flexible production floor, capable of small to high
volume production runs in a variety of packaging formats for chilled, fermented or frozen products,
including desserts.
 The facility has:
• HACCP Accreditation
• Subway International Accreditation (via Siliker)
• NSW Food Authority Accreditation
• Barfresh is progressing BRC accreditation
• Most products are Kosher, Halal and Gluten Free

32. Barfresh Ownership
 Barfresh Beverage Systems Pty Ltd is a company established in New South Wales, Australia.
 Barfresh is the entity which carries on the manufacturing and trading activities of the Barfresh
Group in Australia.
 Barfresh is owned as to 50% by interests associated with Riccardo Delle Coste and 50% by
interests associated with Steven Lang.
 The patented intellectual property is also owned equally by interests associated by Riccardo
Delle Coste and Steven Lang.
 Barfresh Inc, established in Nevada, USA is a limited liability company, to carry on business in
the USA for the Barfresh Group, and is owned equally by interests associated with Riccardo
Delle Coste and Steven Lang.

33. Investment Proposition
Barfresh have contributed over $5m to date in taking the US to its current position.
Barfresh has Subway as a customer in Australia, New Zealand and also currently going into the Middle
East and Puerto Rico.
The business model also provides for diversification into manufacturing of other products lines.
Barfresh is looking to raise between $3 – 5 million in the US which will represent approx. 10% of
Barfresh USA for each $1m. Barfresh is contributing:
Circa $5m spent to date in establishing the market and relationships with major chains as well as
attracting key personnel to the team
Existing relationship with Subway (potentially will win this contract over Coke – 26 times larger than Aust
– circa $100m revenue is early stages without marketing)
Opportunities with other potential customers such as Taco Bell, Dunkin, Starbucks, Jamba Juice and
many others which could represent revenues in excess of $500m.
The investment in Barfresh US is an opportunity for an investor to participate at this early stage. As soon
as a contract is established with a major player (such as Subway which could be achieved within 12
months) we would expect a substantial step up in valuation based on these contracted revenues.

34. Barfresh Food Group Pty Ltd
59-61 Derby St
Silverwater NSW Australia
Ph: +61 2 8753 7800