AROA BIOSURGERY LIMITED — Capital/Financing Update 2021

Aug 24, 2021

ASX ANNOUNCEMENT/MEDIA RELEASE 25 August 2021

Not for release to US wire services or distribution in the United States

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SHARE PURCHASE PLAN SHARES TO BE ALLOTTED TODAY - TRADING TO COMMENCE ON 26 AUGUST 2021

Following the close of its share purchase plan ( SPP ) to existing shareholders resident in New Zealand and Australia ( Eligible Shareholders ) on Thursday 19 August 2021, soft tissue regeneration company Aroa Biosurgery Limited (ASX: ARX, ‘ AROA ’ or the ‘ Company ’) is pleased to confirm that a total of 340,957 new shares in AROA have been settled and will be allotted to participants in the SPP today.

The SPP opened on 4 August 2021 following the successful completion of AROA’s A$47 million institutional share placement ( Placement ), to provide existing shareholders with the opportunity to also participate in the capital raising, should they choose to do so. Together with the Placement, AROA has raised a total of approximately $47.4 million under its capital raising. The funds raised under the Placement and SPP (net of costs) are intended to be focused on funding incremental investment in AROA’s US commercial operations, R&D and product pipeline, as well as increasing AROA’s cash on balance sheet.

Holding statements for the new shares issued under the SPP will be despatched on Thursday, 26 August 2021 with trading in the new shares on ASX on a normal settlement basis commencing on the same day.

Authorised on behalf of the Aroa Biosurgery Board of Directors by Brian Ward, CEO.

About Aroa Biosurgery:

Aroa Biosurgery is a soft-tissue regeneration company that develops, manufactures, sells and distributes medical and surgical products to improve healing in complex wounds and soft tissue reconstruction. Committed to ‘unlocking regenerative healing for everybody’, its products are developed from the Company’s proprietary AROA ECM™ technology platform, a novel extracellular matrix biomaterial derived from ovine (sheep) forestomach. AROA’s products have been used in more than four million procedures to date, with distribution into its key market of the United States by its direct sales force and its partner TELA Bio, Inc. Founded in 2008, AROA is headquartered in Auckland, New Zealand and is listed on the Australian Securities Exchange (ASX:ARX). www.aroabio.com/

Contacts

Investor Simon Hinsley Investor Relations shinsley@aroabio.com + 61 401 809 653

Media Australia New Zealand Matthew Wright Piet De Jong matt@nwrcommunications.com.au piet.dejong@baldwinboyle.com +61 451 896 420 +64 21 812 766

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