Anteris Technologies Global Corp. — Earnings Release 2019

Feb 27, 2020

28 February 2020

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ASX ANNOUNCEMENT

PRELIMINARY FINANCIAL REPORT

Admedus Limited (ASX: AHZ) ( Admedus or the Company ) releases its Appendix 4E– Preliminary Financial report for the period ending 31 December 2019.

In a transformative year, Admedus completed its transition to a structural heart company focused on the development of novel products using its proprietary ADAPT[®] tissue technology. Admedus is poised to begin its pivotal first-in-human surgical aortic valve replacement (SAVR) trial of its 3D aortic valve in Q1 2020.

FY2019 included the following highlights:

• Successful recapitalisation with the sale of the distribution rights to CardioCel[®] and VascuCel[®] patch business to US-based LeMaitre Vascular Inc. (including a $21.2 million upfront payment) and the part-divestment of the infusion business for $6.3 million, resulting in a closing cash balance (including term deposits) of $16.1 million;

• Total revenue of $17.1 million for the 2019 financial year compared with $25.6 million in 2018. FY2019 revenue includes $10.2 million from sales of ADAPT[®] products and $6.9 million of Infusion products. The revenue shift reflected the contribution from the Infusion business until its part-divestment in May 2019 and the patch business until its sale to LeMaitre in October 2019;

• Gross profit for the group for the year was $8.3 million, representing a gross margin of 49% (in line with 2018);

• Selling, general and administrative expenses (SG&A) reduced to $31.6 million from $34.3 million in the prior year following a significant reduction in global headcount. The full impact of this reduction will be reflected in the 2020 accounts; and

• Net loss after tax reduced to $6.2 million compared with $24.7 million in 2018, including gains from the patch business sale as well as the part-divestment of the infusion business.

The 2019 financial year was significant for the Company as it completed the divestment of non-core assets. Admedus is now focused on the development of its ADAPT[®] single-piece 3D aortic valve for the SAVR and TAVR (transcatheter aortic valve replacement) markets and generating revenue from manufacturing products for LeMaitre.

Admedus Limited

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Registered Office: Toowong Tower, Level 3, 9 Sherwood Rd, Toowong, Queensland 4066 Customer Service:

T: 1300 550 310 F: 1300 880 398 International: T: +61 (0)7 3152 3200 F: +61 (0)7 3152 3299 E: info@admedus.com W: admedus.com

Brisbane • Minneapolis • Geneva • Singapore

ABN 35 088 221 078

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“2019 was a pivotal year for Admedus,” Chief Executive Officer, Wayne Paterson, said.

“The capital injection has enabled the Company to concentrate on driving the value in its ADAPT[®] portfolio, reduce operating expenses and develop next-generation products for the structural heart market.”

More detailed commentary on the Company’s financial performance for 2019 is in the Appendix 4E and Financial Report.

Yours faithfully,

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Wayne Paterson Managing Director and CEO

About Admedus Limited (ASX: AHZ)

Admedus Ltd is a structural heart company delivering clinically superior solutions that help healthcare professionals create life-changing outcomes for patients. Its focus is on developing next generation technologies with world class partners.

Authorisation and Additional information

This announcement was authorised by Mr Wayne Paterson, Chief Executive Officer.

For more information:

Ms Kyahn Williamson WE Communications E: WE-AUAdmedus@we-worldwide.com P: +61 401 018 828

www.admedus.com Twitter: @Admedus Facebook: www.facebook.com/pages/Admedus

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