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Q1 FY27 Investor Webinar Thursday 22nd October 2026
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Disclaimer Orthocell | Q1 FY27 Investor Presentation This presentation, prepared by Orthocell Ltd (“Company”), does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this presentation in any jurisdiction in contravention of applicable law. Persons needing advice should consult their stockbroker, bank manager, solicitor, accountant or other independent financial advisor. This document is confidential and has been made available in confidence. It may not be reproduced, disclosed to third parties or made public in any way or used for any purpose other than in connection with the proposed investment opportunity without the express written permission of the Company. This presentation should not be relied upon as a representation of any matter that an advisor or potential investor should consider in evaluating the Company. The Company and its related bodies corporate or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements or representations contained in this presentation, and they do not accept any liability whatsoever (including in negligence) for any information, representation or statement made in or omitted from this presentation. This document contains certain forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this presentation with respect to the Company. It is acknowledged that the Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority. 2
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Remplir U.S. strategy on track with continued global expansion Remplir U.S. key commercial metrics demonstrating strong growth with sales continuing to build. Progressing towards EU/UK clearance. Fully funded and investing in sales growth $39.0 million in cash reserves, and no debt.2 Continued investment in U.S. sales growth, manufacturing expansion and automation. US$3.5 billion1 global nerve repair market Record global Remplir sales in the September quarter with 20% growth QoQ. Approved and now selling in AUS, NZL, USA, CAN, SGP, HKG and THA. Orthocell at a Glance Orthocell | Q1 FY27 Investor Presentation Australian medical technology company with growing international revenue driven by the commercialisation of its flagship nerve repair product, Remplir , in the ~US$2 billion U.S. market1. 1. Referenced papers used to estimate peripheral nerve procedures in the US per annum. Papers used included both the US and OUS databases and studies. 2. AU$39.0M as of 30 September 2026, this includes $5.2 million in cash and cash equivalents and $33.8 million in security and term deposits with maturities ranging from 3 to 12 months. No long-term secured debt facilities. The Company maintains a short-term premium funding facility used to finance insurance prem iums, repaid within the policy period. 3
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The Lassonde Curve | Market Valuation Lifecycle Orthocell | Q1 FY27 Investor Presentation HIGH VALUE LOW VALUE 1 Invention Orthocell develops its SMRT collagen platform and engineers Remplir to mimic the epineurium. 2 FDA Clearance (April 2025) First approvals and early surgeon adoption. The market prices the story well ahead of commercial proof. ASX:OCC IS HERE U.S. revenue inflection market penetration grows 3 Breakeven1 Penetration of the ~US$2bn U.S. nerve repair market converts to earnings — breakeven1 at ~6,000 procedures. LIFE CYCLE Invention & Product Development Market Introduction & Validation Initial Market Penetration Indication & Product ExpansionUS Market Access Grow Market Share 4 Strong Cashflow Approaching our target market share leads to indication and product expansion, driving higher earnings, strong cashflow and investor return. 1. Breakeven is cash breakeven and reflects the point at which net operating cash flow is zero, based on current pricing and cos t assumptions. 18 months post-FDA clearance, OCC is entering the inflection point of its US growth curve — with the commercial platform established and FY27 revenue growth ahead. 4
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Strategic focus Key highlights for the quarter ended 30 September 2026 Win in the Americas U.S. commercial foundations established, Remplir unit sales increasing 25% QoQ Continue growth in ANZ and Asia Now selling in 7 countries, with the Thailand product launch commenced Build global footprint Remplir UK / EU market access preparation continues. Progressing towards regulatory clearance Advance the product pipeline Initial Remplir prostatectomy case series shows encouraging early functional recovery Quarter Highlight U.S. commercial foundations established: Remplir unit sales increasing 25% QoQ, U.S. growth is reaching its inflection point, and initial clinical results indicating early return to urinary control following nerve-sparing prostatectomy. Orthocell | Q1 FY27 Investor Presentation 5
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Key performance metrics Strong Remplir momentum continued in the September quarter, with global sales increasing 20% quarter-on- quarter and U.S. unit sales rising 25% to 149. Lower non-Remplir revenue impacted total quarterly revenue; however, this is expected to recover in the coming quarters, supporting delivery of FY27 revenue expectations. Q1 FY27 Revenue (Company) A$3.6M 7% decrease QoQ 1. Funds Available of AU$39.0M as of 30 September 2026, this includes $5.2 million in cash and cash equivalents and $ 33.8 million in security and term deposits with maturities ranging from 3 to 12 months. 2. Cumulative hospitals and surgeons is the total cumulative number of individual hospitals and surgeons that have purchased one or more units of Remplir. Management estimates based on available data and subject to change . Growth percentages are calculated on unrounded figures and may differ slightly from recalculations based on rounded numbers s hown. 6 Q1 FY27 Revenue (Remplir U.S.) A$0.4M 21% growth QoQ Hospitals2 (Remplir U.S.) 79 13% growth QoQ Surgeons2 (Remplir U.S.) 93 22% growth QoQ Units Sold (Remplir U.S.) 149 25% growth QoQ Orthocell | Q1 FY27 Investor Presentation Funds Available1 (Company) A$39.0M 12% decrease QoQ 6
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Quarterly revenue Orthocell | Q1 FY27 Investor Presentation Total Revenue1 by Quarter (A$M) Q4 FY26 Q1 FY27Q3 FY26Q2 FY26Q1 FY26Q4 FY25Q3 FY25Q2 FY25Q1 FY25 19% YoY 2.0 3.0 2.7 2.22.3 U.S. Remplir revenue grew 21% quarter-on-quarter. While non-Remplir revenue was lower in the September quarter, it is expected to recover in the coming quarters. Q3 FY26Q2 FY26Q1 FY26 U.S. Remplir Revenue by Quarter (A$M) Q4 FY26 Q1 FY27 0.06 0.40 0.33 0.30 0.22 1.Revenue includes product sales, sundry, licensing, grant and interest income (excludes R&D tax refund recorded as income). 3.2 3.2 3.8 3.6 20% QoQ Global Remplir Growth 21% QoQ U.S. Remplir Sales Growth 7
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Initial Remplir prostatectomy case series shows excellent early functional recovery in clinically complex patients with advanced prostate cancer • All patients underwent extensive removal of tumour tissue • 80% of patients demonstrated encouraging urinary continence outcomes – including three who were pad-free by six months which is sooner than expected in cases like these • 75% of patients demonstrated a return of erectile function Orthocell to gather further research to strengthen clinical evidence ahead of U.S. launch with no further FDA approvals needed 1. Referenced papers used to estimate peripheral nerve procedures in the US per annum. Papers used included both the US and OUS databases and studies Orthocell | Q1 FY27 Investor Presentation Remplir Prostatectomy Case Series Adoption in Australian prostatectomy procedures is gathering momentum, with more than 300 procedures now completed and multiple surgeons routinely using the product. 8
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Cash Flow Jim Piper Chief Financial Officer
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• $39.0 million in funds available supports planned capital works, commercial execution and R&D activities. • Cash expenditure remains in line with expectations, with Q1 FY27 operating cash use of $4.5M and normalised cash use of $3.9M. • No additional funding anticipated to support Remplir commercialisation and fund the business to profitability. Quarterly cash flow summary Orthocell | Q1 FY27 Investor Presentation 1. Numbers may not sum due to rounding. 2. The R&D tax incentive refund is received annually, resulting in nil/lump sum amounts in individual quarters. 3. Normalised operating cash burn is a non-IFRS, unaudited measure that excludes the annual R&D tax incentive refund and non-recurring expenditure (ERP, automation, prepayments and other one-offs). 4. Funds Available comprises cash and cash equivalents, security deposits, and term deposits with maturity greater than 3 months . AUD $M 2Q FY26 3Q FY26 4Q FY26 1Q FY27 Receipts from customers 1.2 1.6 2.5 2.6 Payments to suppliers and employees (7.7) (4.9) (6.6) (7.3) Government grants & net interest received 0.5 3.4 0.5 0.2 Operating cash use for the period1 (6.0) 0.1 (3.6) (4.5) Annual R&D tax refund2 - (3.0) - - Non-recurring expenditure (ERP, Automation, Prepaid and other one-offs) 1.0 0.4 1.2 0.6 Normalised operating cash3 (5.0) (2.5) (2.4) (3.9) Capital expenditure & other investments (0.2) (1.2) (1.0) (0.1) Proceeds from fund raising and other financing (13.4) (0.1) 0.8 (0.5) Funds Available4 49.4 48.0 44.1 39.0 Cash & cash equivalents 7.4 7.8 9.4 5.2 Term deposits between 3-12 months maturity 42.0 40.2 34.7 33.8 Sustainable cash reserves are in place to fund the commercialisation of Remplir and support the business to profitability, with no additional funding anticipated. 10
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U.S. Remplir Adam Wood Chief Commercial Officer
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Remplir significant US$2 billion U.S. market 1 opportunity Orthocell | Q1 FY27 Investor Presentation 1. Referenced papers used to estimate peripheral nerve procedures in the US per annum. Papers used included both US and OUS databases and studies. 2. Breakeven is cash breakeven and reflects the point at which net operating cash flow is zero, based on current pricing and cos t assumptions. 3. ~1.7 units per procedure, Average units per procedure reflects observed utilisation from available data, supplemented by clinical assumptions regarding standard use per operation. Breakeven2 ~10,000 Devices3 ~6,000 Procedures Targeting 10%, with a focus on the short-gap and non-transected nerve repair sector.700,000 US Peripheral nerve repair procedures every year. We are targeting 10% of the 700,000 annual U.S. Peripheral nerve repair procedures, with Orthocell cash breakeven at ~6,000 procedures. 12
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The Four Major U.S. States Are Now Covered Orthocell | Q1 FY27 Investor Presentation With a combined population of ~114m, Orthocell has established coverage across four strategically important U.S. markets, providing a strong platform for future growth. Recent Activity: Strong surgeon adoption with multiple large volume, influential surgeons now using the product. These surgeons also featured in our ASSH program speaking on their experience with product. Q2 Focus: Expand surgeon usage where we have strong usage and develop centres of excellence . Florida First Sale Jul-25 Population 23M Phase Early Growth Recent Activity: Multiple labs and dinners in partnership with our Californian distributors. Key surgeon engagements with CEO in field. Q2 Focus: Following multiple trials, focus on hospital orders and further engagement of influential surgeons who have already used the product. California First Sale Jan-26 Population 39M Phase Initial MP Recent Activity: Statewide distributor signed and Orthocell Area Sales Manager based in Texas hired who holds key surgeon relationships to support launch. Initial training and field visits completed, first case on 18 September. Q2 Focus: Cadaveric labs for surgeon training, ongoing distributor upskilling, identify key surgeon targets and support product adoption in initial cases. Texas First Sale Q2 FY27 Population 32M Phase Access Recent Activity: Distributor signed, VAC submitted at major hospital, ongoing engagement with key surgeon, including speaking at Orthocell Australian Nerve Symposium event in 2027. Q2 Focus: Initial distributor training, identify further key accounts and submit VAC documentation for approval. New York First Sale Q2 FY27 Population 20M Phase Access 13
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U.S. Quarterly Activity Update Orthocell | Q1 FY27 Investor Presentation Remplir continued to build commercial momentum in the U.S. throughout the September quarter. Education • 15 events completed 7 cadaver labs, 4 journal clubs, 3 conferences plus the American Society for Surgery of the Hand (ASSH) conference • 6 abstracts submitted to U.S. scientific conferences, increasing the reach of our clinical program • 6 US Key Opinion Leaders engaged for the ASSH Innovation Forum and September skills lab Sales • 3 new distributors & 2 direct sales team members signed, widening U.S. coverage • First national contract signed, creating access at scale • 55 Value Analysis Committee (VAC) applications approved as of 30 September • 10 direct orders from 6 hospitals for stock replenishment Marketing • 17 new surgeons on-boarded in the quarter • Expanding hospital usage as new and existing surgeons gain access at additional hospitals • Online surgeon training hub created to support clinical application of Remplir 14
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U.S. Remplir commercialisation performance Orthocell | Q1 FY27 Investor Presentation1. Cumulative hospitals and surgeons is the total cumulative number of individual hospitals and surgeons that have purchased one or more units of Remplir. Distributor coverage tracking ahead of expectations, hospitals and surgeon metrics remain on-track. FY26 Q1 FY27 FY27 Target Comment Cumulative Surgeons1 (total cumulative) 76 93 150-200 • Driven by distributor coverage, hospital access and peer-to-peer selling. • Repeat usage drove 78% of sales, with 17 new surgeons contributing 22%. Cumulative Hospitals1 (total cumulative) 70 79 100-150 • Driven by VAC approvals and Remplir users now operating at multiple sites. • Focus on large hospital groups and national contract opportunities. Distributor Coverage (coverage of U.S. population) 50% 70% 80% • 20 distributor partners now covering 70% of the U.S. population. • Strong surgeon relationships have resulted in early traction with Remplir. 15
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U.S. Remplir Hospitals Cumulative by Quarter U.S. Remplir Unit Sales by Quarter U.S. Remplir commercial momentum is building Orthocell | Q1 FY27 Investor Presentation Hospital approvals and surgeon adoption continue to grow, supported by distributor expansion, medical education and increased product awareness. Unit sales are benefiting from new customers and increased use by established surgeons, with the full contribution from surgeons onboarded late in Q1FY27 yet to be reflected. U.S. Remplir Surgeons Cumulative by Quarter 16 Q2FY26Q1FY26Q4FY25 Q3FY26 Q4FY26 Q1FY27 Q4FY26Q3FY26Q2FY26Q1FY26Q4FY25 Q2FY26Q1FY26Q4FY25 Q3FY26 Q4FY26 Q1FY27 79 Q1FY27 93 149
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Digital marketing supporting commercial growth Orthocell | Q1 FY27 Investor Presentation 17 A scalable digital platform for engaging surgeons and distributors across our markets • New website, distributor portals and practitioner’s hub provide access to the resources required to build confidence in Remplir • Sales teams and distributors can access current, approved materials wherever they work • Conference and event enquiries are captured and followed up automatically, converting interest into pipeline • ASSH campaigns resulted in the following surgeon engagement: ‣ 121,000 ad impressions ‣ 3,375 clicks to landing pages, contributing to booth leads, industry forum attendees and surgical lab demos.
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American Society for Surgery of the Hand Annual Conference Orthocell | Q1 FY27 Investor Presentation 90+ qualified surgeon leads from trade display Innovation forum 70+ attendees Dr David Brogan Washington University Dr Michael Doarn Florida Orthopedic Institute Dr Harry Hoyen MetroHealth Medical Center Dr Ian Valerio Massachusetts General Hospital Dr Neill Li Duke University Dr Aaron Morgan Integris Health Surgical lab with 30+ surgeons Orthocell faculty for Innovation Forum & Cadaver Lab >250 new and existing surgeons engaged at the key annual nerve repair conference through hands-on surgical labs, keynote presentations and events, facilitated by leading US nerve surgeons. The sales team now following up in person to convert engagement into product adoption. 18
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Key Takeaways from the Innovation Forum Orthocell | Q1 FY27 Investor Presentation “All you have is this thin epineurial-looking layer, which is quite beautiful.” Dr David Brogan (Washington University), describing histology at 17 weeks Optimal healing environment “Seeing this result [clinically], I think is helpful. Especially when using the Remplir device, seeing how that kind of material can help augment the epineurium and allow for the epineurium to form.” Dr Neill Li (Duke University), on his decision to use in nerve decompression cases Supports nerve glide “Now we have something like Remplir where we don’t have to suture, so that saves time and saves some costs. It can be beneficial because if you suture too tightly, the nerve can swell. We want to do a positive thing for our patients.” Dr Michael Doarn (Florida Orthopedic Institute), on the benefits in revision carpal tunnel surgery Elastic and conformable “Remplir has been the one [nerve wrap] that gets me right in that category of ‘just right’, not too stiff, not too slimy” Dr Aaron Morgan (Integris Health), using a Goldilocks analogy to describe the handling of Remplir Easy to handle 19
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Upcoming Catalysts
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21 Achievements and upcoming catalysts 1 Orthocell | Q1 FY27 Investor Presentation Nerve repair, made SMRT Foundations in place for U.S. growth Achieved Appoint exclusive distributor in UK Achieved First sale in Canada Achieved Appoint THA distributor Achieved First Thailand sale Achieved Initial prostate patient data October Phase 1 of manufacturing expansion commencing 1H CY26 EU+UK market clearance 2H CY26 SmrtWrap tendon U.S. pre-submission 2H CY26 U.S. operations update 2H CY26 Remplir publication & evidence generation 1H CY27 Global Remplir update 1H CY27 1. Timelines may be subject to change due to circumstances not under the Company’s control 21
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Q&A
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Authorised for release by The Board of Directors of Orthocell Limited P: +61 8 9360 2888 E: paul.anderson@orthocell.com.au orthocell.com