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1 Aroa Biosurgery (ARX) – MASTRR Interim Analysis UNLOCKING REGENERATIVE HEALING FOR EVERY BODY
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2 | Unlocking regenerative healing for everybody. Important Notice and Disclaimer This presentation (07 Oct 2026) has been prepared by Aroa Biosurgery Limited, New Zealand company number 1980577, ARBN 638 867 473. This presentation: • Is for information purposes only and 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 for an offer of securities in any jurisdiction. • Is intended for investor education purposes only. It is not intended as a medical device advertisement. • Is not an invitation, offer or recommendation of securities in AROA (or any of its subsidiaries) for subscription, purchase or sale in any jurisdiction. • Should be read in conjunction with AROA’s other periodic and continuous disclosure announcements lodged with ASX and potential investors should rely solely on their own judgement, review and analysis when making an investment decision about AROA. • Has been prepared with due care and attention, however, AROA and its directors and employees accept no liability for any errors or omissions; and contains information from third parties AROA believes to be reliable, however, no representations or warranties (express or implied) are made as to the accuracy or completeness of such information. Past performance information is provided for illustrative purposes only. Those references are not, and should not be relied upon as, an indication of future performance. Forward-looking 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, such statements are inherently uncertain and susceptible to changes in circumstances. Actual results, performance or achievements may differ materially from those expressed or implied in forward looking statements and statements of opinion. Except as required by applicable laws or regulations, AROA does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in assumptions on which any such statement in this Presentation is based. Intellectual property: AROA, Aroa Biosurgery, AROA ECM, Endoform, Myriad, Myriad Matrix, Morcells, Myriad Morcells, Myriad Ultra, Myriad Meshed, Symphony, Symphony OPX and Enivo are trademarks of Aroa Biosurgery Limited. All other trademarks are properties of their respective owners. ©2026 Aroa Biosurgery Limited
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3 3 CONTENTS 01 Introduction 02 Overview 03 Interim analysis 04 What this means 05 Q & A
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| Confidential. Not for distribution. 4 Bioscaffolds have an established history of use But • Dearth of high quality large scale data • Limited clinical evidence for specific product use in a wide range of procedures & patients • Unmet clinical needs • Opportunity to provide more robust evidence • Mixed view of clinical value • Latent market opportunity Introduction
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| Confidential. Not for distribution. 5 CHIEF SCIENTIFIC OFFICER Barnaby C. H. May, Ph.D.
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| For educational purposes only 6 Goals: • Demonstrate safety and efficacy of Myriad Matrix and Myriad Morcells across a range of soft tissue reconstruction procedures • Utilize a prospective single arm registry study design with relatively broad inclusion/exclusion criteria – ‘real-world’ • Data set can be analyzed across ALL procedure types AND sub-group analyses based on procedure types or sites • Use a decentralized approach • Establish a body of clinical evidence to support the efficacy of Myriad Myriad TM Augmented Soft Tissue Reconstruction Registry (MASTRR) A Registry of prospective Myriad data
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| For educational purposes only 7 Prospective Data in Soft Tissue Reconstruction Advantages of a Registry Study design Feature Registry Study Traditional RCT Primary purpose Evaluate real-world safety, performance, utilization, and outcomes Determine comparative efficacy/effectiveness between predefined interventions Eligibility criteria Typically broad inclusion/exclusion criteria Typically narrower criteria to reduce variability and create more comparable cohorts Patient population Heterogeneous and reflective of routine clinical practice More selected and homogeneous Clinical settings Multiple sites, surgeons, specialties, and practice environments More standardized study sites and procedures Treatment approach Reflects routine clinical decision-making Treatment dictated by protocol and randomization Generalisability High — designed to reflect real-world practice Often lower because of selective enrolment and controlled conditions Sample size Often large Usually smaller because of cost and complexity Follow-up Can support long-term surveillance and detection of uncommon events Usually predefined and finite Learning about subgroup performance Strong — useful for exploring different indications, surgeons, and patient types Limited if subgroup sizes are small Best question answered “How does this technology perform in the real world?” “Does treatment A perform better than treatment B under controlled conditions?”
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| For educational purposes only 8 MASTRR Registry Current metrics Trauma/Burn Colorectal Lower Extremity Site Focus Area: Nuvance (Poughkipsee) Tower Health (Reading) Lifebridge (Baltimore) OSU (Columbus) Northeast Georgia (Gainesville) AIMS (Fort Myers) LSU (New Orleans) Sacred Heart (Pensacola) Arizona Burn (Phoenix) Froedtert (Milwaukee) Lancaster Hospital (PA) Univ. of Iowa 12/15 Sites 550/800 Subjects
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| For educational purposes only 9 MASTRR Registry Research Outputs Lawlor et al Complex lower extremity reconstruction1 Cormican et al Trauma and acute care2 Nasseri et al Comparative pilonidal sinus reconstruction 3 Trinh et al Enterocutaneous fistula4 Trinh et al Pressure injury reconstruction5 Kennedy et al Partial thickness burns6 Short et al Interim safety analysis7
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| For educational purposes only 10 MASTRR Prospective Registry Outputs • n=130 complex lower extremity reconstruction • Median 30.0 days to tissue coverage/fill • Median 127.0 days to closure • Median 1 product application Limb salvage • n=32 deep partial thickness burns • Median 107cm2 defect size • Median 18 days to healing • Median 1 product application Burns • n=61 trauma and ACS defects • Median 22.5 days to tissue coverage/fill • Median 70 days to closure • Median 1 product application Trauma • n=46 OFM implant beneath local tissue flaps for pilonidal sinus reconstruction • Compared to n=48 controls • OFM implant significantly reduced dehiscence Flap Closure 1. Lawlor et al. 2024. PRS GO. Dec 20;12(12):e6406. 4. Nasseri et al. 2025. Cureus. Nov 13;17(11):e96775. 2. Kennedy et al. 2026. Cureus. 18(3): e105987. 3. Cormican, M.T., et al. 2025. J Trauma and Injury. 39(1):42–51. 1 2 3 4
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11 STUDY CHAIR – MASTRR REGISTRY Dr. Tracee Short
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| For educational purposes only 12 Safety of Ovine Forestomach Matrix Across 474 Soft Tissue Defects: Interim Results from the Prospective Multicenter MASTRR Registry Short T, Lawlor J, Martyka P , Wolf JH, Felton JM, Smith AA, Nasseri YY, Barnajian M, Vassy WM, Cormican M, Kumar P , Choi JJ, Lau L, Loftus JH, Bernal NP , Butts CA, Dillingham CS, Leneweaver KJ, Simon J, Bosque BA, Young DA, May BCH. Adv Ther. 2026 Sep 3. doi: 10.1007/s12325-026-03768-0.
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| For educational purposes only 13 Short et al. 2025 | MASTRR Registry Interim Safety Analysis Subject and defect level populations 411 Subjects 474 Defects 10 Sites 28.3 Median BMI 35.8 % Diabetic 30.4 % Vascular Disease 91.5 % ASA Grade II or higher 59.8 % >1 month old 88.6 % CDC Grade II or higher 11.4 % Exposed structures 15.0 % Osteomyelitis 24.0 Mean area (IQR: 7.8, 10.0, cm2)
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| For educational purposes only 14 9.7 % Fistulae 22.6 % DFU 16.5 % Traumatic 11.2 % Ostomy takedown 10.8 % Pilonidal 9.7 % Pressure injury Broad range of surgical procedures from trauma and acute care, colorectal and burns 1 Median product application 65.2 % Dermal reconstruction (topical) 9.7 % Fistula augmentation 25.1 % Implantation Short et al. 2025 | MASTRR Registry Interim Safety Analysis Clinical utility: A broad range of surgical applications
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| For educational purposes only 15 Severity 1=mild 2=moderate 3=severe 4=life threatening 5=death Causality Unrelated Unlikely Possible Probable Causal • If a subject is enrolled in a clinical study ANY adverse event related or unrelated to the intervention must be reported within the study • Structured and standardized reporting is defined as part of the protocol • Severity • How severe is the adverse event? • Causality • Is the adverse event related to the study intervention (i.e. Myriad)? Short et al. 2025 | MASTRR Registry Interim Safety Analysis Standardized adverse event reporting
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| For educational purposes only 16 Zero Definitively device- related AEs 1 Probable device related AEs 27.1 Median follow-up period (weeks) Short et al. 2025 | MASTRR Registry Interim Safety Analysis Safety outcomes
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| For educational purposes only 17 8.0 % Index defect related AEs 11.9 % Non-index defect related AE’s 32.1 % Incidental AE’s 0.7 % Deep tissue infection 2.9 % Superficial infection 0.0 % Graft loss TS Short et al. 2025 | MASTRR Registry Interim Safety Analysis Safety outcomes
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| For educational purposes only 18 Short et al. 2025 | MASTRR Registry Interim Safety Analysis Safety outcomes
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| For educational purposes only 19 How does the deep tissue infection rate for Myriad compare? Product Reference Study type Defect type Sample size Reported deep tissue infection rate Myriad Short T. et al. Adv in Therapy, 2026 Prospective registry Various 474 0.7% Polyurethane bioscaffold Shadid OH, et al. Plast Reconstr Surg Glob Open. 2026 Feb 2;14(2):e7461. Systematic review and meta-analysis Various 208 25.8% Polyurethane bioscaffold He M, et al. Burns. 2025 Dec;51(9):107754. Systematic review and meta-analysis Burns 299 26.24% Collagen-GAG bioscaffold Gonzalez SR, et al Plast Reconstr Surg Glob Open. 2020 Jul 15;8(7):e2869. Systematic review and meta-analysis Various 602 16.9% Collagen-GAG bioscaffold He M, et al. Burns. 2025 Dec;51(9):107754. Systematic review and meta-analysis Burns 1384 18.79% Short et al. 2025 | MASTRR Registry Interim Safety Analysis Comparative outcomes
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20 Questions & Answers AROA BIOSURGERY
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| Confidential. Not for distribution. 21 As the largest prospective evidence base in this category, the MASTRR registry is becoming a commercial asset How • Surgeon confidence (in contaminated and complex cases) • Unlocks the conservative/sceptical early majority • Competitive differentiation • Supports case for hospital value-analysis approvals • Potential health-economic impact • Shorter sales cycles What this means
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22 Questions & Answers AROA BIOSURGERY
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23 Thank you for attending 64 Richard Pearse Drive, Auckland 2022, New Zealand PO Box 107111, Auckland Airport, Auckland 2150, New Zealand Visit www.aroa.com www.linkedin.com/company /aroa-biosurgery-limited/ investor@aroa.com