Adherium Ltd. · ASX:ADR
Adherium — Investor Presentation (February 2026)
36 slides from Adherium's investor presentation, February 2026
Slide 1: Investor Presentation
ASX: ADR Smarter Monitoring. Better Breathing. Lower Costs. Investor Presentation February 2026
Slide 2: Disclaimer and Forward-Looking Statement
Disclaimer and Forward-Looking Statement The material contained herein is of a general nature & has only been prepared as a. the possible delays in & the outcome of product development a presentation aid. This presentation does NOT contain all of the information that may be required for evaluating A
Slide 3: Executive Summary
Executive Summary Major clinical need: immediate focus on Adherium’s Hailie® SmartInhaler® Strong and building commercial moderate to severe/uncontrolled asthma respiratory management platform drives momentum, led by Remote Patient and COPD patients industry-leading medication adherence Monitoring c
Slide 4: ~40M Americans live with chronic respiratory disease
~40M Americans live with chronic respiratory disease Non-adherence to medications is a primary cause of avoidable hospitalisations, emergency department visits, and billions of dollars of costs to the healthcare system ©2026 Adherium. All rights reserved.
Slide 5: What are COPD and Asthma?
What are COPD Chronic Obstructive Asthma and Asthma? Pulmonary Disease (COPD) • Long-term lung disease that • Swollen and tight airways slowly gets worse over time While COPD and asthma • Common types: chronic • Difficulty breathing (wheezing, are different conditions, bronchitis (“smoker’s cough”)
Slide 6: Low medication adherence increases the risk of exacerbations
Low medication COPD adherence increases 4th Leading Cause of Death in the U.S.20 the risk of exacerbations, Increased breathlessness cardiovascular events, and frequent productive cough = higher risk of exacerbations and death Flare up/Exacerbations Cardiopulmonary Exacerbations irreversibly Events
Slide 7: Annual economic burden of COPD and asthma nearly $120B
In the United States, the annual economic burden of COPD and asthma combined is nearly $120B1-3 $120B COPD ASTHMA 27M prevalence3 11M prevalence4 ~$6.3k/yr per ~$18k/yr per uncontrolled severe patient5 patient7 Nearly half of costs are Excess direct costs to US Over half of costs are tied to hospita
Slide 8: Adherium's Serviceable Addressable Market in the U.S. is estimated to be US$13B
Adherium's Serviceable Addressable Market in the U.S. is estimated to be US$13B 9-11 U.S. COPD U.S. Asthma Patients Patients All patients 27M Uncontrolled All patients 11M 14M Moderate/Severe/ 8M Very Severe Severe/Very Severe Severe/Uncontrolled 2.2M 2.7M Total Addressable Market (TAM) = US$20b acr
Slide 9: When COPD patients are 60% or greater adherent, hospitalisation risk drops ~50%
Reduction to the Risk of Hospitalisations Based on Levels of Adherence in COPD When COPD patients 80-100% are 60% or greater Adherence 51% adherent to their targeted adherence medications, their risk 60-80% threshold Adherence of hospitalisation 48% drops ~50%22 40-60% Adherence 39% ©2026 Adherium.
Slide 10: The Hailie Smartinhaler Solution is positioned to drive adherence
The Hailie® Smartinhaler® Solution is positioned to drive adherence for better outcomes and lower costs Closed-Loop Respiratory Management Hailie Healthcare Smartinhaler: Hailie Platform: provider Continuous real-world data from 15 US The Data Precision decision Food and Drug Administration (FDA) En
Slide 11: The Hailie Smartinhaler drives positive behavior and outcomes
The Hailie® Smartinhaler® drives positive behavior increasing efficiency of healthcare spend and influencing outcomes On-sensor Tracks inhaler Addresses reminders medication use inhaler technique Reminds patients when Tracks patient inhaler Captures valuable insights, it is time to take their medica
Slide 12: Monetising patient care through two recurring revenue streams
Monetising patient care through two recurring revenue streams 2025+ via Remote Patient $ Monitoring (RPM) Fee For Service Reimbursable $$$ Value Based Care (VBC) Outcomes Driven (Reimbursable) 2026+ via US Payers Established RPM in 2025 and now ready for VBC Value Base Care ©2026 Adherium. All right
Slide 13: Value-Creation Milestones
Value-Creation Milestones COMPELLING ESTABLISHED CRITICAL MASS COST SAVINGS INFRASTRUCTURE EXPERIENCE IMH data Scalable >2100 RPM patients ©2026 Adherium. All rights reserved. 13
Slide 14: iCARE study demonstrated robust clinical outcomes
Adherium’s iCARE study demonstrated robust clinical outcomes suggesting compelling cost savings COMPELLING ESTABLISHED CRITICAL MASS COST SAVINGS INFRASTRUCTURE EXPERIENCE IMH data Scalable >2100 RPM patients ✓ ©2026 Adherium. All rights reserved. 14
Slide 15: iCARE interim results demonstrated a 235% increase in adherence
iCARE study interim results demonstrated a 235% increase in adherence across COPD and asthma* Improved adherence compared to reported “norms” 12,23-25 70% 67% 60% 64% 50% 40% 30% 20% 22% 20% Benchmark 10% norm adherence 0% iCARE adherence Asthma COPD *Preliminary results iCARE Study in collaboration
Slide 16: 1/3 >80% adherence, 67% adherence
Reduction to the Risk of Hospitalisations These adherence Based on Levels of Adherence in COPD levels indicate that 80-100% hospitalisations of Adherence 51% COPD patients could 60-80% be cut in half Adherence 48% 40-60% Nearly one-third of iCARE study Adherence 39% patients achieved adherence >80%
Slide 17: Established infrastructure servicing RPM patients and generating recurring revenue
Adherium has an established infrastructure servicing RPM patients and generating recurring revenue COMPELLING ESTABLISHED CRITICAL MASS COST SAVINGS INFRASTRUCTURE EXPERIENCE IMH data Scalable >2100 RPM patients ✓ ©2026 Adherium. All rights reserved. 17
Slide 18: >60k insurance-verified patients in the RPM channel alone
Signed partnerships which give Adherium access to 1M+ patients >60k insurance-verified patients in the RPM channel alone Access to 1M+ Respiratory Patients US Health System RPM Specialty Medical US Payers/Value- Payer/Providers Groups/Clinics Based Programs • Current mix of device sales • HCPs earn
Slide 19: Every Clinic Partner Activation Creates New Recurring Revenue
Every Clinic Partner Activation Creates New Recurring Revenue • Allergy Partners is the largest single- specialty allergy & asthma practice in the U.S. • On pace to launch 100% of Allergy Partners clinics by early 2026 • 80% of 110 clinics are live, billing per- patient revenue today • >60K total ve
Slide 20: Remote Patient Monitoring Model in Motion
Remote Patient Monitoring Model in Motion: Each clinic activation embeds Adherium & drives recurring revenue Patient Eligibility 1 Insurance Verification 1. Clinic activation Partners 2. RPM patient onboarding 2 Patient Consent CALL CENTRE 3. Patient activation 4. Monthly patient monitoring 3 Produc
Slide 21: Strong momentum building in RPM enrolments and recurring revenue growth
Strong momentum building in RPM enrolments and recurring revenue growth Cumulative RPM Shipments RPM Revenue (accrual-based sales) AUD 000 2,149 $68.2 $55.1 $47.7 $37.0 $30.0 764 $24.9 $18.1 $20.5 351 $12.2 84 $0.0 March June September December Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25
Slide 22: Over 4.6K patients using the Hailie Smartinhaler today
Over 4.6K patients using the Hailie® Smartinhaler® today, including >2.1K RPM patients, with >10K RPM patients expected by end of 2026 COMPELLING ESTABLISHED CRITICAL MASS COST SAVINGS INFRASTRUCTURE EXPERIENCE IMH data Scalable >2100 RPM patients ✓ patients on track for >10K RPM by end of 2026 ©202
Slide 23: Commercial Targets & Growth
Commercial Targets & Growth: Sales volume projections to year-end 2026 14,000 Projecting 10K RPM • Achieved 4,600 patients by December 2025 active patients by 12,000 across all channels December 2026 10,000 • 2,100+ RPM shipments • 1,000+ IMH patients Patients 8,000 • 1,000+ device sales 6,000 • Tar
Slide 24: Positioned for next inflection point: US Payer VBC Contracts
Adherium is now positioned for its next inflection point: US Payer Value-Based Care (VBC) Contracts COMPELLING ESTABLISHED CRITICAL MASS COST SAVINGS INFRASTRUCTURE EXPERIENCE IMH data Scalable >2100 RPM patients U.S. PAYER READY positioned to unleash cost savings ©2026 Adherium. All rights reserved
Slide 25: Infrastructure built with RPM patients de-risks VBC entry
Infrastructure built with RPM patients de-risks VBC entry Fee For Service Value Based Care via Remote Patient Monitoring (RPM) via US Payers Device Care Team Adherium’s reimbursable Population Contract Activation Engagement RPM model builds the Outcomes Design infrastructure, data, and payer trust d
Slide 26: RPM Is the Wedge into the Higher Margin Value-Based Care Market
RPM Is the Wedge into the Higher Margin Value-Based Care Market Towards Profit Driven by Population Outcomes RPM VBC Per Patient/Month $55 $70+ Individual, active monitored Unit of Value Volume of patients in contract patient Revenue Drivers Usage + retention Size of contract Economic Drivers Fee fo
Slide 27: IMH's payer arm Select Health could unlock savings of nearly $60M
IMH’s payer arm “Select Health” could unlock significant savings of nearly $60M with only 10% of COPD patients % of COPD patients COPD patients 50% annual cost savings Revenue onboarded enrolled (illustrative) hospitalisations / ED visits @ $70 pp/mo 5% participation 3.3K $30M $3M 10% participation
Slide 28: Cigna could save nearly $1B in direct costs
Cigna, national US payer, could save nearly $1B in direct costs with just 10% of its COPD patients; unlocking value for Adherium % of COPD patients COPD patients 50% annual Revenue onboarded enrolled (illustrative) cost savings26 @ $70 pp/mo 5% participation 53K $473M/yr $44M/yr 10% participation 10
Slide 29: Adherium is poised to transform respiratory care
Adherium is poised to transform respiratory care COMPELLING ESTABLISHED CRITICAL MASS US PAYER COST SAVINGS INFRASTRUCTURE EXPERIENCE READY IMH data Scalable >4,600 total shipments positioned to unleash cost savings ✓ ✓ Coming milestones: • Presentation of final iCARE study data • Scaling RPM patien
Slide 30: Adherium's Management Team has evolved significantly
Adherium’s Management Team has evolved significantly, and our focus on growing our patient base is clear Dawn Bitz Keven Gessner Tom Quinlan Jason Hochman David Haddad Hetal Dhruve Chief Executive Officer Strategic Market Access Advisor / CFO Head of Commercial Head of Product Head of Medical and Cl
Slide 31: Corporate Snapshot
Corporate Snapshot Capital Structure1-2 Ownership3 Share Price $0.006 28.81% 27.24% Shares on Issue 3,090,976,588 Trudell Medical Ltd Cash on Hand $0.64m Phillip Asset Management Ltd (BioScience MTF1) Debt $1.00m Regal Funds Management Pty Ltd Market Capitalisation $18.55m Enterprise Value $18.91m 8
Slide 32: Thank You
Thank You For more information, contact: Dawn Bitz, CEO DawnB@adherium.com
Slide 33: Glossary
CMS Centers for Medicare and Medicaid COPD Chronic Obstructive Pulmonary Disease IMH Intermountain Health Glossary RPM Remote Patient Monitoring RTM Remote Therapeutic Monitoring HCP Healthcare Professionals EMR Electronic Medial Record ©2026 Adherium. All rights reserved. 33
Slide 34: Adherium customer testimonials
Adherium customer testimonials "One of the great struggles has always been: you see a patient in the office and they're not doing well; you make a change in therapy, and you're always left with that question, 'are they really taking their medicine?' And, 'are they taking it correctly?' And I think t
Slide 35: Hailie Technology has Registered Designs and Patents Worldwide
Intellectual Property and Global Patent Protection Adherium’s Hailie Technology has Registered Designs and Patents Worldwide 73 registered designs 25 registered designs 4 granted utility 4 granted utility patents patents UK/EU 180 US Japan China 10 registered designs 1 granted utility patents Patent
Slide 36: References
References 1. Zafari Z et al. Projecting Long-term Health and Economic Burden of COPD in the United States. Chest. 2021 Apr;159(4):1400-1410 2. Nurmagambetov T, Kuwahara R, Garbe P. The Economic Burden of Asthma in the United States, 2008-2013. Ann Am Thorac Soc. 2018;15(3):348-56. 3. American Lung