AROA BIOSURGERY LIMITED — Capital/Financing Update 2021

Jul 28, 2021

ASX ANNOUNCEMENT/MEDIA RELEASE 29 JULY 2021

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

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SPECIAL INSTRUCTIONS FOR AROA SHAREHOLDERS TO ACCESS SPP DOCUMENTS DUE TO POSTAGE DELAYS

Soft tissue regeneration company Aroa Biosurgery Limited (ASX:ARX, ‘AROA’ or the ‘Company’) provides an urgent reminder to all shareholders to update their contact details via Aroa’s share registry to ensure that there are no delays in receiving the Company’s share purchase plan documentation and application forms.

Overview

• Aroa has announced today the successful completion of a placement to eligible investors raising A$47m

• Concurrently with completion of the placement, Aroa has announced the launch of a A$5m non-underwritten Share Purchase Plan (’SPP’)

• All shareholders with a registered address in Australia and New Zealand are invited to participate in the SPP and apply for up to A$15,000 (equivalent to approximately NZ$15,860) in new shares at A$1.165 per share (the same issue price as the placement)

• The SPP offer will only be open for two weeks between Wednesday, 4 August 2021 and 5.00pm (Sydney time) on Thursday, 19 August 2021

• Due to current delays with postage in Australia and New Zealand, all shareholders are encouraged to ensure their contact details are up to date, and that they provide an email address to Aroa’s share registry, Boardroom Pty Limited, via www.investorserve.com.au

• Separate instructions for New Zealand resident shareholders unable to use BPAY®, to allow payment by international electronic funds transfer, will be sent to, and made available to, New Zealand resident shareholders on www.investorserve.com.au

• The SPP is due to open on Wednesday, 4 August 2021 – eligible shareholders will be able to view and/or download their personalised SPP Application Form and the Share Purchase Plan Offer Booklet, and if you are a New Zealand resident shareholder the separate EFT instructions, via www.investorserve.com.au, after 11.00am on Wednesday, 4 August

• A dedicated shareholder information phone line has been set up should you have any queries (8.30am to 5.30pm, Sydney time): 1300 737 760 (within Australia) and +61 2 9290 9600 (outside Australia)

Details

Given the current delays with postage in Australia and New Zealand, you are strongly encouraged to ensure that your contact details are up to date, and that you have provided an up to date email address, to Aroa’s share registry, Boardroom Pty Limited.

To be able to provide your email address so that you receive all relevant SPP documents in a timely manner, and to also allow you to update details of your shareholding in Aroa from time to time, if you have not already set up an account with Boardroom Pty Limited, you will need to do so by following the steps below:

1. Go to www.investorserve.com.au

2. On the right-hand side of the web page click on 'Register Now'.

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AROA BIOSURGERY LIMITED ARBN 638 867 473 NZCN 1980577 64 Richard Pearse Drive, Auckland 2022, New Zealand AROABIO.COM

ASX ANNOUNCEMENT/MEDIA RELEASE 29 JULY 2021

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

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1. Fill in the below information.

2. Issuer – Enter the ASX code for Aroa Biosurgery Limited - ARX . You will need to select it from the drop-down box that appears when you enter the issuer name.

3. Holding Type – If you have a HIN number (starting with X) please select CHESS, if you have an SRN number (starting with I) please select Issuer Sponsored.

4. Reference Number – Enter either your HIN or SRN (This is available on your Holding Statement that will have been sent to you previously by the Company’s share registry). Please note the share registry will not accept an internal reference number starting with an S, if you cannot locate your reference number please contact the share registry on the information line and it will be able to assist you with obtaining it). Do not enter the preceding letter or

zero’s when entering your SRN or HIN.

• Name – Enter one name from your registered name as found on your Holding Statement. (e.g. for all the examples, please only enter Smith – John Smith – John Smith and Jane Smith – John Smith PTY LTD).

• Postcode or Country (if outside Australia).

• Once you have completed the steps above click ‘Register’.

• Click either mobile or email, then select ‘Request Security Verification’. This will send a code to your mobile or the email address you have provided to continue your registration.

• Complete mobile or email verification step, by entering the code texted to your mobile or sent to your email.

• Create a unique ‘Username’ - the username can contain a combination of letters, number and the following special characters ! @ # $ % ^ & * ( ) _ + - =, however an email address cannot be used as a username.

• Create a unique ‘Password’ - your new password must contain at least: one upper case character; one lower case character; one number and the following special characters ! @ # $ % ^ & * ( ) _ + - =

• Enter your date of birth and create 3 unique security questions.

• Tick “ I have read and accept the terms and conditions”.

11. Select Activate Account’.

1. Once the account is active you can update communication options. To elect future electronic communications, select ‘Communication Options’ from the left hand menu. You can then change your preferences to ‘Email’.

P L E A S E A C T I O N A S S O O N A S P O S S I B L E – O N C E A C T I V A T E D T H I S W I L L A L L O W Y O U T O R E C E I V E A L L R E L E V A N T S P P D O C U M E N T S I N A T I M E L Y M A N N E R .

The SPP is scheduled to open on Wednesday, 4 August 2021

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AROA BIOSURGERY LIMITED ARBN 638 867 473 NZCN 1980577 64 Richard Pearse Drive, Auckland 2022, New Zealand AROABIO.COM

ASX ANNOUNCEMENT/MEDIA RELEASE 29 JULY 2021

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

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Eligible shareholders will be able to view and/or download their personalised SPP Application Form and the Share Purchase Plan Offer Booklet via www.investorserve.com.au after 11.00am on Wednesday, 4 August 2021.

Separate instructions for New Zealand residents unable to use BPAY®, to allow payment by international electronic funds transfer, will be sent to New Zealand resident shareholders, and will also be available via www.investorserve.com.au

From 11.00am on Wednesday, 4 August 2021 , to view or download your SPP Application Form and the Share Purchase Plan Offer Booklet go to:

• For registered users , go to www.investorserve.com.au then enter your username and password using the Registered User Access. Select Statements/Advices.

• For unregistered users , go to www.investorserve.com.au then Individual Investment Access. Your personalised SPP Application Form is available under the Statements/Advices menu.

Shareholder information phone line (8.30am to 5.30pm, Sydney time): 1300 737 760 (within Australia) and +61 2 9290 9600 (outside Australia)

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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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AROA BIOSURGERY LIMITED ARBN 638 867 473 NZCN 1980577 64 Richard Pearse Drive, Auckland 2022, New Zealand AROABIO.COM