Anteris Technologies Global Corp. — AGM Information 2017

Nov 15, 2017

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ANNUAL GENERAL MEETING 2017 John Seaberg Chairman

www.admedus.com

Follow us @Admedus |

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• Global fund mgmt

• Venture capital

• Healthcare

• real estate

• M&A

• BD

• Major AHZ shareholder

• NED on 2 ASX boards

• Skiing,Fitness

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Simon Buckingham
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• 25 yrs Pharma/Biotech

• Roche, Pfizer, Actelion

• Exec experience:

• S&M, BD, M&A, Strategy

• Europe, US, Aus

• NED on 2 ASX boards

• Skiing, open water swimming, golf

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• 40 yrs Cardiac Med-Tech

• Chair Synovis Inc, (Nasdaq listed)

• Founder/CEO NeoChord

• Founder/CEO ACIST

• Mayo Clinic Advisory Grp.

• EVP of Cedar Point Capital

• Private boards

• Hiking, fishing, golf

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• Global Sr. Pharma Exec

• (25 years)

• Merck, Roche

• S&M, Ops, Strategy, M&A

• Asia, Europe, US,Emerging Markets

• Cepheid Board (Nasdaq listed)

• ProCom Rx NED (Switzerland)

• Bikes, cars, fitness

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Past-Present-Future

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2017: WP
2014: Paterson 2015:
accepts role as 2017: Code-
& Seaberg join BOD/MGMT
“permanent Red completed
BOD restructured
CEO”
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With Governance and Management revamped… AHZ is positioned for innovation and growth!

Past-Present-Future

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2017 milestones
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Bankable business !!
Recent captial
injection carries us to
Growth !! profit
Revenue: 58%
Innovation!!
Gross Profit : 110%
VascuCel, CardioCel
SG&A: 25%
Neo,
CardioCel 3D
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Innovation leads to growth and non-dilutive capital !!

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Future
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2003 2017
EW SP EW SP
$4 $120
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• Edwards pioneers TAVR via purchase of PVT in 2003

• TAVR revolutionizes Structural Heart industry

• Corevalve $700ml M&A

• TMVR $200-$400ml M&A

• • TAVR space > $5 BN (USD) by 2020

ADAPT is our entre into TAVR, TMVR

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ANNUAL GENERAL MEETING 2017 Wayne Paterson, CEO

www.admedus.com

Follow us @Admedus |

The Evolution of a company

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$ millions	FY17	FY16	Change
Group revenue	22.3	14.2 ↑	58%
Gross profit	10.7	5.1 ↑	110%
GM%	48.1%	36.2% ↑	12%pts
Selling, general and administration costs	(25.0)	(33.4) ↓	25%
Other income	3.4	4.7 ↓	(28)%
EBITDA loss	(10.8)	(23.6) ↓	54%
Depreciation and amortisation	(1.9)	(1.5) ↑	(20)%
Operating income / (loss) after income tax	(12.7)	(25.1) ↓	50%
Net working capital	6.0	4.1 ↑	(46)%
Net working capital % sales	27.0%	29.2% ↓	(2)%pts
Net operating cash outflows	(12.5)	(21.9) ↓	43%

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120.00%
109.53%
100.00% 92.42%
80.00%
67.50%
57.45%
60.00% 55.47%
39.65%
40.00%
28.27%
24.54%
20.00%
0.88%
0.00%
2014 -1.00%2015 2016 2017
-20.00%
-15.51%
-23.18%
-40.00%
% GP Growth % Rev Growth % SGA Growth
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• Group still on track to reach financial break even in last quarter of calendar year 2018 leading to profitability in the full calendar year 2019.

• • Targeting >$20M in earnings for 2020.

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The road to profit and the 2020
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Aspiration
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Net Sales EBITDA SG&A
[m$ @ OP rate] [m$ @ OP rate] [% of sales]
51.%5
70
117
48
73
33
52
20 22 37
4
-12 -6
2017LE 2018 2019 2020 2017LE 2018 2019 2020 2017LE 2018 2019 2020
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14

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• Record year for ADAPT sales which continue to accelerate

• A new funding facility was arranged for up to

• $10.0M in secured debt from Partners for Growth

• Two separate patent applications for TAVR technologies were filed

• Entered into an exclusive supply agreement for TMVR with 4C Medical

• CardioCel® 3D moved from a pre-market programme to an expanded access programme

• The new Royal Adelaide Hospital (nRAH) officially opened on 5 September 2017

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Fiji mission

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The Good

• Credible financial results post Code Red

• Publication of explant data demonstrating clinical superiority of ADAPT in human trials

• Release of NATA report certifying 100% DNA successfully removed from the bovine collagen scaffold by the ADAPT TE process

• Major progress on a number of applications for shaped and molded ADAPT products

• Infusion business ready to move to the next level with RAH officially opened in Sept

• 4C Medical exclusive supply agreement signed – validation of the uniqueness of our ADAPT technology.

The Bad

• Share price trajectory

The Challenges

• Sales force turn over

• European business structure

• Scale

• Conspiracy theories

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143%
•
Growth 2017 – 2018 •
In AUD @ OP rate
•
•
2017 LE 2018
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• US will grow 1.5x

• Increased access via GPO/IDN contracts

• Re-organized territories

  • New Area Manager structure for increased performance

  • • Refreshed Field Force with new Rep profiles

  • Geographic expansion & penetration via 3[rd] party partnerships

• 3D launch expected to deliver significant revenue – and Halo effect Pivot in VascuCel to higher value indications

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2018 USD 2019
Demystifying the GPO/IDN Market Revenue Revenue
Contribution Contribution
$482k $3.2m
$264 $3.7m
$754 $845k
$1.5mio $7.7mio
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Europe to double in 2018

• Harmonized dossier in Q2 allows for active promotion in expanded indications

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Growth 2017 – 2018
In AUD @ OP rate
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• New RVP to galvanize team and build Operations

• 3D launch expected to deliver significant revenue – and Halo effect

• Increased interest in tri-leaflet repair using biologic tissue New markets opened – i.e. Spain, Turkey

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Germany is key to
success in Europe…
despite challenges in
Berlin & Essen, new
accounts are being
opened to fill the gap
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• ~~691%~~

• Growth 2017 – 2018 Geographic Expansion In AUD @ OP rate • India Q1 launch - $1.2mio • Turkey Q1 - $100k • Southeast Asia Q3 - $200k Organic Growth • MENA - $ 222k • 3D Australia - $81k • Southeast Asia Q3 - $200k

• 2017 LE 2018

• Expansion Upsides not in Forecast China Entry • TGA approval Q3 - $500k • Validation process underway • Mexico Q2 - $200k • Clinical Registration Trial – Q2 • South Africa Q3 - $100k • First Patient In – Q1 2019 • MENA 3D Q1 - $158k • Market Entry Q1 2021 ~ $1mio ~ ($250k) in 2018

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10%
Growth 2017 – 2018
In AUD @ OP rate
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Organic Growth

• Ambit growing at 24%

• Arcomed slight decline (-5%) in overall revenue – consumable revenue offsets $4mio in capital sales

• Other consumables (established products) modest 6% growth

2017 LE 2018

Tender based Business in Forecast

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Expected
value - $3.9
mio
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 Work has commenced on RNA HPV (head and neck ca study) with ethics committee approval for safety and dosing study

• Ongoing work on HSV-2 DNA vaccine with regards to delivery site

• Board has entered negotiations with a 3[rd] party investor to fund continuing operations

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3D Update

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• User evaluation period complete

• Learnings being correlated

• Support materials being compiled with user feedback to guide new users

• Commercial launch in the US from Feb 1[st]

• Other markets (EU, EM) to follow during 2018

• Further development projects being reviewed ( note to file for 3D vascular repair)

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Investment thesis

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 Text text text

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Company A : Drug development
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Costs , No Revenue
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 Text text text

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Company A : Drug development

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Company B : Revenues + Building
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a bankable business
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 Text text text
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What's the Opportunity ?

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THE ADMEDUS STRATEGIC PILLARS

Vision Strategic Execution Enterprise value

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Vision 20/20 is the broad strategic framework outlining our ambitions for FY 2020 :

• > 50% market share in our key segments

• Going beyond tissue in our product portfolio and into broader Med Tech segments

• Medtech engineers engaged in the TAVR/TAVI space.

• Multiple partnerships

• >10 Med tech products in market

• Balanced revenue between the EU (30%) US (45%)and EM (25%) regions

• Targeting >$20 million in earnings

• PH II Immuneoncology clinical trials underway.

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Investment thesis

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Admedus TAVR , A true Game
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Changer
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 Text text text

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Why it’s a game changer

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Why it’s a game changer

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• Must have professional intensity

• Must be a subject matter expert

• Must love the mission

• Must subscribe to the AORTIC values

• Must have Integrity, Honesty and High work ethic

• Must not be a DIVA

Executive Management Team

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AHZ has been like rolling a snowball up the hill. We are three-quarters of the way there, pushing the snowball with all our might, and it is getting bigger and bigger. It might take another year to get it to the summit…

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when we get the snowball to the top, it will be much bigger, and then when it rolls over, all obstacles in its path will be destroyed!

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Innovation to support life’s journey is at the heart of our story...

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