Ann: 1H FY23 Results Presentation, page-2

PolyNovo Limited
ABN 96 083 866 862
2/320 Lorimer Street
Port Melbourne
VIC Australia 3207
P +61 (0) 3 8681 4050
F +61 (0) 3 8681 409923 February 2023
ASX Announcement
Half Year Results (audited) for 1H FY23
PolyNovo’s ASX release on 16 January 2023 pointed to record sales growth of
67.5%. The half year audited results attached to this release show:
• Record 1H FY23 sales of A$27.3m up 67.5% on STLY of A$16.3m
• Total revenue including BARDA of A$29.5m up 62.2% on STLY of A$18.2m
• Strong growth in U.S. achieving 1H FY23 record sales of A$22.8m up 61.0% vs. STLY of A$14.1m
• ROW sales of A$4.5m up by 110.1% vs. STLY A$2.1m including new sales in Hong Kong and
Canada.
• The Group recorded a net loss after tax of A$3.8m (1H FY22: A$1.6m profit). The profit in 1H FY22
included the reversal of A$4.7m in share awards and share options expense forfeited by the
previous CEO and COO on their resignations and an unrealised forex gain of A$0.4m. Excluding
these items results in an underlying loss of A$2.5m for the prior period.
During the Period, the Company’s other key initiatives and achievements include:
• A $53,000,000 capital raising
• First $5 million BTM sales month in September (Sep 2022: $5,402,454) recurring in October
($5,263,100) and December ($5,306,540)
• Appointment of CEO Swami Raote
• Received FDA 510(k) clearance for NovoSorb MTX
• Entered Hong Kong, India, and Canada markets in December
• Leased the adjacent property in Port Melbourne to significantly increase manufacturing capacity
• Commenced SynPath Diabetic Foot Ulcer Clinical Trial
• Awarded Victorian Government grant for manufacturing Diabetic Foot Ulcer product (SynPath)
• Increasing sales teams and customer base globally
• Produced for 1H FY23 the equivalent of 74% of the total devices produced in FY22
This announcement has been authorised by PolyNovo Company Secretary Jan-Marcel Gielen