AROA BIOSURGERY LIMITED — AGM Information 2024

Jul 22, 2024

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Aroa Biosurgery (ARX) | AGM UNLOCKING REGENERATIVE HEALING FOR EVERY BODY

Important Notice and Disclaimer

This presentation (Presentation) is dated 23 July 2024 and has been prepared by Aroa Biosurgery Ltd, New Zealand company number 1980577, ARBN 638 867 473 (AROA or the Company).

Information in this Presentation

The information in this Presentation is of a general background nature, is in summary form and does not purport to be complete. This Presentation has been prepared in conjunction with an oral presentation and should not be taken out of context. It does not contain all information relevant or necessary for an investment decision or that would be required to be included in a prospectus or other disclosure document under the Corporations Act for an offer of securities in Australia or in any other jurisdiction. This Presentation is intended for investor education purposes only and is not intended as a medical device advertisement. Products shown may not be available in your region. Results may vary. The content of this Presentation is provided as at the date of this Presentation (unless otherwise stated). Except as required by applicable law, AROA does not plan to publicly update or revise any information contained in, or provided with, this Presentation whether as a result of any new information, future events, changed circumstances or otherwise.

Not a prospectus or an offer of securities

This Presentation is not a prospectus or any other offering document under Australian law (or under the law of any other jurisdiction in which an offer of securities may be received. Nothing in this Presentation should be construed as an invitation, offer or recommendation of securities in AROA (or any of its subsidiaries) for subscription, purchase or sale in any jurisdiction. Potential investors should read this presentation in conjunction with AROA’s other periodic and continuous disclosure

announcements lodged with ASX and should rely solely on their own judgement, review and analysis when making an investment decision about AROA.

Future performance

Past performance information in this Presentation is given for illustrative purposes only and should not be relied upon (and is not) an indication of future performance. The Presentation contains certain “forward-looking statements”. The words “forecast”, "outlook", "expect", "anticipate", "estimate", "intend", "believe", "guidance", "should", "could", "may", "will", "predict", "plan" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. These statements are based on current expectations and assumptions regarding AROA’s business and performance, the economy and other circumstances. As with any projection or forecast, forward-looking statements in this Presentation are inherently uncertain and susceptible to changes in circumstances. Opinions involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. Actual results, performance or achievements may differ materially from those expressed or implied in forward looking statements and statements of opinion. In particular, market data reflects estimates only and investors are cautioned against placing undue reliance on it.

IP notice

AROA, Aroa Biosurgery, AROA ECM, Endoform, Myriad, Myriad Matrix, Morcells, Myriad Morcells, Myriad Ultra, Myriad Flow, Symphony and Enivo are trademarks of Aroa Biosurgery Limited. All other trademarks are properties of their respective owners. ©2024 Aroa Biosurgery Limited

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Clinical Evidence Update

Barnaby May, PhD Chief Scientific Officer, Aroa Biosurgery Limited

CLINICAL EVIDENCE UPDATE

Evidence to Date

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83 peer-reviewed 01 publications >156 conference 02 proceedings 3476 published 03 patients[(1)]

1. AROA Biosurgery Limited, data on file

CLINICAL EVIDENCE UPDATE

Highlights from the Evidence

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Authentic Volumetric Resilient and
Complexity Fill Persistent
AROA ECM provides an Provides immediate Persists in the defect
ideal balance of biology & coverage and rapid despite contamination
structure to support tissue granulation tissue to protect and inflammation. [5,6]
regeneration. [1,2] exposed structures. [3,4] Enables cost-
effective utilization. [3,7]
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1. Lun, S., et al., Biomaterials, 2010. 31(16): p. 4517-29. 2. Dempsey, S.G., et al., J Proteome Res, 2019. 18(4): p. 1657-1668. 3. Cormican, M.T., et al., ePlasty, 2023. 23: p. e66. 4. Bohn, G.A. and A.E. Chaffin, J Wound Care, 2020. 29(12): p. 742-749. 5.Taarea, R., et al., Trauma Cases Rev 2024. 10(1): p. 102. 6. Hsu, A., et al., Tech Coloproctol, 2023. 27(9): p. 769-774. 7. Bosque, B.A., et al., J Am Podiatr Med Assoc, 2023. 113(3).

VOLUMETRIC FILL

Provides immediate coverage and rapid granulation tissue to protect exposed structures

REFERENCE	TYPE OF DEFECTS	DEFECT SIZE	SAMPLE SIZE	TIME TO TISSUE COVERAGE/FILL (WEEKS)
Cormican et al.(1) Traumatic 217.3±77.9 cm2 13 3.3±1.3 w
Taarea et al.(2) Open abdomen 147±62.7 cm2 3 3.5±1.3 w
Bosque et al.(3) Lower extremity 84.2±106 cm2 50 3.7±3.2 w

1. Cormican, M.T., et al., ePlasty, 2023. 23: p. e66. 2. Taarea, R., et al., Trauma Cases Rev 2024. 10(1): p. 102. 3. Bosque, B.A., et al., J Am Podiatr Med Assoc, 2023. 113(3).

RESILIENT AND PERSISTENT

Persists in the defect despite contamination and inflammation

REFERENCE	TYPE OF DEFECTS	CDC CONTAMINATION SCORE	SAMPLE SIZE	INFECTION RATE
Cormican et al.(1) Traumatic Grade II & III 13 0%
Taarea et al.(2) Open abdomen Grade II 3 0%
Bosque et al.(3) Lower extremity Grade IV 50 0%
Chaffin et al.(4) Pilonidal Grade III 6 0%
Chaffin et al.(5) Hidradenitis Grade III 8 0%
Desvigne et al.(6) Non-healing wounds Grade II & III 9 11%
Hsu et al.(7) Anal fistula Grade III 14 0%
Bohn et al.(8) Exposed structures Grade II & III 6 0%

1. Cormican, M.T., et al., ePlasty, 2023. 23: p. e66. 2. Taarea, R., et al., Trauma Cases Rev 2024. 10(1): p. 102. 3. Bosque, B.A., et al., J Am Podiatr Med Assoc, 2023. 113(3). 4. Chaffin, A.E., et al., J Wound Care, 2021. 30(Sup7): p. S28-S34. 5. Chaffin, A.E. and M.C. Buckley, J Wound Care, 2020. 29(11): p. 624-630. 6. Desvigne, M.N., et al., Frontiers in Surgery, 2020. 7(173). 7. Hsu, A., et al., Tech Coloproctol, 2023. 27(9): p. 769-774. 8. Bohn, G.A. and A.E. Chaffin, J Wound Care, 2020. 29(12): p. 742-749.

RESILIENT AND PERSISTENT

Enables cost-effective utilization

REFERENCE	TYPE OF DEFECTS	CDC CONTAMINATION SCORE	SAMPLE SIZE	MEDIAN NUMBER OF PRODUCT APPLICATIONS
Cormican et al.(1) Traumatic Grade II & III 13 1.2
Taarea et al.(2) Open abdomen Grade II 3 1.0
Bosque et al.(3) Lower extremity Grade IV 50 1.0
Chaffin et al.(4) Pilonidal Grade III 6 1.0
Chaffin et al.(5) Hidradenitis Grade III 8 1.0
Desvigne et al.(6) Non-healing wounds Grade II & III 9 1.0
Hsu et al.(7) Anal fistula Grade III 14 1.0
Bohn et al.(8) Exposed structures Grade II & III 6 1.0

1. Cormican, M.T., et al., ePlasty, 2023. 23: p. e66. 2. Taarea, R., et al., Trauma Cases Rev 2024. 10(1): p. 102. 3. Bosque, B.A., et al., J Am Podiatr Med Assoc, 2023. 113(3). 4. Chaffin, A.E., et al., J Wound Care, 2021. 30(Sup7): p. S28S34. 5. Chaffin, A.E. and M.C. Buckley, J Wound Care, 2020. 29(11): p. 624-630. 6. Desvigne, M.N., et al., Frontiers in Surgery, 2020. 7(173). 7. Hsu, A., et al., Tech Coloproctol, 2023. 27(9): p. 769-774. 8. Bohn, G.A. and A.E. Chaffin, J Wound Care, 2020. 29(12): p. 742-749.

EVIDENCE

Highlights to expect for FY25

Myriad in complex lower extremity reconstruction (prospective)

01

N=130

02 Myriad in trauma reconstruction (prospective) N~40-50 Endoform Real World Evidence – Venous 03 N~2000 Leg Ulcers (retrospective comparative) Symphony diabetic foot ulcers 04 N=120 (prospective comparative)

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CEO and Managing Director’s Report

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SALES

Myriad Sales

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70%
YoY
Growth
16
14
12
10
8
6
4
2
0
FY20 FY21 FY22 FY23 FY24
US$M
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01 Top priority Momentum 02 03 Large volumetric defects 04 Compelling clinical data 05 Disruptive Value MYRIAD US$ 14M TOTAL ADDRESSABLE MARKET US$ 730M

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SALES
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TELA Bio Sales

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40%
YoY
Growth
70
60
50
40
30
20
10
0
FY20 FY21 FY22 FY23 FY24
US$m
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01 Key partnership 02 Hernia & breast portfolio Momentum 03 04 Compelling clinical data 05 Disruptive value OVITEX US$ 63M TOTAL ADDRESSABLE MARKET US$ 1.9B

AROA BIOSURGERY | AGM Why AROA wins...

AROA'S COMPETITIVE ADVANTAGE

Value

01

Improved clinical outcomes

02

Low complication rates

03 Fewer applications

04 Shorter length of stay

05

Reduced product cost

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AROA'S COMPETITIVE ADVANTAGE

Product portfolio

01 AROA ECM scope

02 Unique technical capabilities

03 Complementary Enivo platform

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AROA'S COMPETITIVE ADVANTAGE

Commercial leverage

01

Knowledge & experience

02

Agile & adaptable

03

Energy & drive

04

GPOs / IDNs

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AROA'S COMPETITIVE ADVANTAGE

Low cost of goods

01 High margin manufacturing 02 Continuous improvement 03 Scalable modular process

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Winning =

+ value + product portfolio + commercial leverage + low cost of goods

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AROA GROWTH

Financial outlook[1]

01 Myriad & OviTex drive growth

02 Gross margin improves

03 Sales operating leverage

R&D ~10% sales 04

05 EBITDA margin expands

FY24

Product Revenue NZ$ 69 MILLION (YoY growth 19 – 24%)

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Product
Gross Margin
85%
Normalised
EBITDA
NZ$
($3)
MILLION
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FY25 GUIDANCE

Product Revenue NZ$ 80-87 MILLION ~25% CAGR Product Gross Margin >85% Normalised EBITDA NZ$ 2-6 MILLION

FY25 guidance is presented on a constant currency basis using a NZ$/US$ exchange rate of 0.64, compared to the average exchange rate of 0.61 in FY24. Constant currency removes the impact of exchange rate movements. Guidance is subject to TELA Bio delivering on its CY24 revenue guidance of US$74.5-76.5 million.

AROA BIOSURGERY | AGM Questions & Answers

Thank you for attending

JAMES AGNEW investor@aroa.com

VISIT

www.aroa.com

www.linkedin.com/company /aroa-biosurgery-limited/

64 Richard Pearse Drive, Auckland 2022, New Zealand

PO Box 107111, Auckland Airport, Auckland 2150, New Zealand