SenesTech, Inc. Common Stock Lytham Partners Fall 2026 Investor Conference

All right. Hello, everyone. Thank you for continuing to join us throughout the day here at the Lytham Partners Fall 2026 Investor Conference. My name is Robert Blum, managing partner here at Lytham. Up next, Michael Edell, the recently appointed Chief Executive Officer of Senestech, will take us through the company's slide presentation. Michael, thanks so much for your participation. The floor is all yours.

Thank you, Robert. Good afternoon, and thank you for taking the time to learn more about Senestech. Let me start with a very simple question. If you have a rat problem, why spend all of your time trying to kill rats after they are born, when you can stop them from being born in the first place? You may not be aware, but two rats can become as many as 15,000 in a single year. That reproductive cycle is the fundamental problem traditional pest control is fighting today. Senestech attacks it differently. We manage the birth rate, not the death rate. Our technology is non-lethal, works alongside traditional pest management, and when used as directed, is designed to be pet, wildlife, and bird friendly. I'm Michael Edell, the recently appointed President and Chief Executive Officer of Senestech.

As you can probably tell, I'm very excited about this opportunity, having accepted the role because my conviction in the products and markets is very strong, but my conviction in our ability to dramatically scale this business is even stronger. I began working with Senestech in mid-2025 to evaluate the business and build a commercial growth plan, then moved into an operating role to actually implement it. My background is as a founder, CEO, and operator across numerous companies over 40 years, with a focus on e-commerce and consumer products. I came here to turn a strong scientific foundation into a scalable commercial company. That is what we mean by the new Senestech. Before I continue, I'll be making forward-looking statements. Please review the safe harbor disclosure on this slide, as well as the risk factors in our SEC filings.

This slide is a cliff note version of the presentation. We want to get into each point in more detail, but I wanted to put the investment case directly on the table at the beginning. The problem we face is enormous. Rodents can cause an estimated $27 billion of U.S. damage each year, and traditional poisons do nothing to stop continued reproduction. Our solution is differentiated and easy to understand. Through Evolve and ContraPest, we manage the birth rate, not the death rate. The market is established, and we estimate it to be roughly $2 billion in the U.S. opportunity alone, with a worldwide market of more than $4.5 billion. The evidence is real. The long-term result highlighted here shows a 95% reduction in rodent activity, supported by evidence across several customer settings. Our position is also difficult to replicate.

We remain the only company commercially offering EPA compliant rodent birth control products in the United States. Most importantly, the strategy that we have implemented is working. In the second quarter, we produced company records for revenue, e-commerce, Amazon, subscriptions, gross profit, and gross margins. The science is proven, the market is moving toward us, and the commercial business is beginning to work. That is why we believe this is a very different Senestech than it was just 12 months ago. With that high-level case established, let me provide more details. Evolve Rat and Evolve Mouse are our soft bait birth control products, and ContraPest is our liquid birth control product. In addition to these products, we offer our new assessment and implementation services. The objective is to make rodent birth control easier to understand, buy, and deploy to solve the problem.

We're building a broader rodent population management solution, not a company around a single product. The products and science were not the constraint at Senestech. The commercial strategy and execution was the problem. Historically, this was primarily a research-led organization. Important channel economics were managed by third party, B2B selling was broad and not focused, customer data was limited, recurring revenue was small or non-existent, and the message was offered centered on scientific product features instead of customer outcomes. Over roughly the last 200 days, we rebuilt how the company goes to market.

We brought Amazon in-house, installed data-driven decision making, began building a professional sales organization, launched our new senestech.com website, and introduced our assessment services, refreshed the Evolve brand around the clearest possible message, rat birth control and mouse birth control. That is a meaningful operational change in a short period of time, and the team delivered with speed and discipline. The scaling is still ahead, but the commercial foundation is now in place. The next slide shows what happened when that new commercial model had its first full quarter to operate. Again, keep in mind, I was only brought in as the CEO mid-May. The second quarter was the strongest quarter in the company's history. Revenue increased 56% sequentially to a record $770,000. E-commerce nearly tripled, Amazon increased more than five-fold, and subscription revenue nearly doubled.

At the same time, gross profit grew faster than revenue, and gross margin reached a record 76.6%. You can see the progress on the slide. The important point is that all six records are connected. They came from a strategy built around direct customer relationships, better data, recurring revenue, pricing discipline, and tighter control of channel economics. We improved both our growth and revenue quality. That is early measurable evidence that the strategy is working. Up to this point, I have stayed high level. Now let me take you through the business, the market, and the growth strategy in more detail.