Polynovo Limited · ASX:PNV
Polynovo — H1 FY26 Earnings Presentation
23 slides from Polynovo's earnings presentation, Feb 20, 2026
Slide 1: H1 FY26 Results
H1 FY26 Results (in conjunction with Appendix 4D) ASX: PNV Register for the webcast here. Friday 20 February 2026
Slide 2: Agenda: H1 FY26 Results
Agenda: H1 FY26 Results 1: Chair Update | Leon Hoare 2: CEO Update | Bruce Peatey 3. H1 FY26 Financial Update | Jan Gielen 4: Analyst Q&A 5: Closing Comments | Bruce Peatey H1 26 Results PolyNovo Limited 2
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by PolyNovo Limited (ASX: PNV) (“PolyNovo”) for general information purposes only and is current as at the date of this presentation. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of
Slide 4: PolyNovo: Accelerating Global Impact
PolyNovo: Accelerating Global Impact New Leadership Capacity & Capability Focused on Growth Bruce Peatey: commenced as CEO Strong financial fundamentals; Geographic; Indication; Technology December 1st, 2025. Enhanced manufacturing and R&D platform; Pipeline; Clinical outcomes. capacity; High calibr
Slide 5: Platform Innovation: From Melbourne to the World
Platform Innovation: From Melbourne to the World Patented platform Direct sales + 450+ technology distributor channels clinical articles and abstracts published Established global footprint NovoSorb MTX 106k+ the next frontier for regenerative patients treated worldwide 46+ countries healing Regulat
Slide 6: PolyNovo Executive Leadership
PolyNovo Executive Leadership Bruce Peatey Jan Gielen Amy Demediuk Chief Scientific Officer Chief Executive Officer Chief Financial Officer Company Secretary and General Counsel Kimberley Axon Ed Graubart Ahmed Hassan Allison Myers Chief People Officer President, Chief Manufacturing and Chief Qualit
Slide 7: H1 FY26 Commercial Sales Performance
H1 FY26 Commercial Sales Performance NovoSorb Group NovoSorb U.S. NovoSorb ROW* Sales Sales Sales 26.0% 25.3% 28.3% H126: $68.2m H126: $51.7m H126: $16.5m H125: $54.1m H125: $41.2m H125: $12.9m H1 Presentation 26 ResultsName 20XX PolyNovo Limited PolyNovo Limited *(Rest of World) 7
Slide 8: Strong Global Momentum
Strong Global Momentum 22.9% EMEA H1 FY26 19.2% sales growth UK H1 FY26 sales growth 36.8% APAC H1 FY26 sales growth 50.8% 25.3% Canada H1 FY26 sales growth 49.1% India H1 FY26 52.0% Aus H1 FY26 U.S. H1 FY26 sales sales growth sales growth growth 8
Slide 9: U.S. PMA Submission for NovoSorb BTM is on track for FY26
U.S. PMA* Submission for NovoSorb® BTM is on track for FY26 Approval expected to unlock expanded Fully resourced to support PMA Documentation is being finalised in access to U.S. burn centres, supporting submission and commercial scalability, preparation for U.S. PMA submission the next phase of gro
Slide 10: U.S. Outpatient Opportunity
U.S. Outpatient Opportunity PolyNovo focus Hospital inpatient Hospital outpatient All other non-hospital outpatients CMS flat rate H1 26 Results PolyNovo Limited 10
Slide 11: Growth Catalysts for FY26 and Beyond
Growth Catalysts for FY26 and Beyond Core Business NovoSorb® Technology Platform Further indication Outpatient (CMS) Strategic review of new product expansion Access Opportunity development to optimise value creation PMA submission for NovoSorb® BTM Appoint Chief Scientific Officer to add (full-thic
Slide 12: Clear Visibility into Strategy, Performance and Key Catalysts
Clear Visibility into Strategy, Performance and Key Catalysts investors.polynovo.com Key dates FY26 Results: 24 August 2026 FY26 Annual General Meeting: 29 October 2026 Enhanced online investor platform • View ASX announcements, Annual and Half-Year Reports, video content, and key insights • Subscri
Slide 13: Financial Results
3 PolyNovo: a Healing. Redefined. Financial Results
Slide 14: H1 FY26: Commercial Sales by Product Mix
H1 FY26: Commercial Sales by Product Mix NovoSorb BTM and NovoSorb MTX Highlights: commercial sales +$14.1m 80.0 • Group sales A$68.2m up 26.0% on STLY A$54.1m 68.2 70.0 +$11.9m 54.1 60.0 • U.S. sales A$51.7m up 25.3% on STLY A$41.2m +$14.9m 50.0 42.2 • NovoSorb MTX group sales A$6.2m up 195.2% on 4
Slide 15: H1 FY26: United States Highlights
H1 FY26: United States Highlights Highlights: U.S. NovoSorb MTX U.S. commercial • 25.3% product sales growth commercial sales product sales +$10.5m +$3.9m • A$6.0m NovoSorb MTX sales up 193% $51.7 $6.0 +$9.0m • Profitable and strong positive cash flow $41.2 • Contracted accounts networks representin
Slide 16: H1 FY26: ROW Highlights
H1 FY26: ROW Highlights Highlights: ROW commercial +$3.6m ROW share of group product sales commercial footprint • ROW sales A$16.5m up 28.3% on STLY A$12.9m $16.5 +$2.9m H1 FY26 • High growth in existing and new markets: ROW $12.9 24% • Turkey up 91.3% • Australia up 52.0% United $10.0 States • Cana
Slide 17: H1 FY26: Capital Efficient Growth
H1 FY26: Capital Efficient Growth Cash flow breakdown Highlights: • A$29.2m cash on hand and cash equivalents $9.0m $0.1m • Cashflow from operations A$9.0m STLY (- $12.5m) $33.5m o Significantly improved collections in U.S., ($10.8m) $29.2m debtor days reducing from 90+ STLY to 56 ($1.8m) ($0.9m) da
Slide 18: H1 FY26: Income Statement and EBITDA
H1 FY26: Income Statement and EBITDA 18 H1 26 Results PolyNovo Limited 18
Slide 19: Subscribe for updates
ox Subscribe for updates PolyNovo: Healing. Redefined.
Slide 20: H1 FY26: Balance Sheet
H1 FY26: Balance Sheet Balance Sheet ($m) H126 FY25 Change % Cash and cash equivalent 29.2 33.5 -12.9% Trade and other receivables 19.6 24.4 -19.5% Inventories 11.9 14.5 -18.2% Other 8.5 4.7 81.9% Total current assets 69.2 77.1 -10.2% Total assets 123.3 127.4 -3.2% / Total liabilities 40.2 44.1 -8.9
Slide 21: Vision, Mission and Values
Vision, Mission and Values Healing. Redefined. Our mission is to innovate and bring disruptive technologies to market by partnering with the best minds to improve patient outcomes and reimagine the standard of care. We put patients We earn We innovate first. trust. boldly. We believe in We respect a
Slide 22: Board of Directors: extensive global medtech expertise
Board of Directors: extensive global medtech expertise Mr Leon Hoare Mr Robert Douglas Dr Robyn Elliott Ms Christine Mr Andrew Lumsden GradDipBus, AssocDipAppSc MBA, BEng Electrical BSc (Hons) Chemistry, Emmanuel-Donnelly MA (Hons) in Accountancy & (Orth), FAICD Engineering, BSc PhD Inorganic Chemis
Slide 23: Presentation Name 20XX PolyNovo Limited
Presentation Name 20XX PolyNovo Limited 23