• Positive results from Myriad trauma study showing improved patient outcomes
• Symphony reimbursement changes expected to drive market disruption
• Symphony commercial strategy focused on expanding distribution channels

Aroa Biosurgery Ltd has provided a comprehensive business update, covering several key developments. The company's Myriad trauma study, the largest ongoing observational study of bioscaffolds in complex reconstruction, has enrolled 450 patients to date. The trauma subgroup of 49 patients (61 defects) across four U.S. Level 1 trauma centers showed fully vascularized tissue coverage in a median of 22.5 days, often with just one application, and no device-related complications. The Myriad clinical outcomes were at least equivalent to, or better than, reported outcomes of other bioscaffolds, demonstrating the potential for improved patient outcomes and reduced total cost of care for hospitals. Regarding Symphony reimbursement, a flat fee of $127.14/cm2 has been introduced from January 2026, and local coverage determinations (LCDs) have been withdrawn, removing limitations on the number of applications and the requirement for a randomized controlled trial (RCT). However, the reimbursement policy is not yet settled, and further changes are expected in 2026. The Symphony RCT has been concluded, and high-level results are expected to be announced by the end of March 2026.Aroa's commercial strategy for Symphony focuses on the Hospital Outpatient Department, which is expected to benefit from the reimbursement changes, as well as expanding distribution through partnerships with physician offices, home health, and mobile providers.The company also highlighted its momentum, with increasing success in soft tissue reconstruction using Myriad, accumulating AROA ECM clinical evidence, and the significant opportunity presented by Symphony, in addition to the continued contribution from TELABio.Guidance for the upcoming year includes total revenue of NZ$92-100 million, with year-over-year constant currency growth of 10-20% (Myriad 25%+ YoY CC growth), and normalized EBITDA of NZ$5-8 million.

Total Revenue: NZ$92-100 million Year-over-year constant currency growth: 10-20% (Myriad 25%+ YoY CC growth) Normalised EBITDA: NZ$5-8 million