Slides
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1Annual Shareholders' Meeting 25 August 2026
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2 Mark Cross Your Board Neville Mitchell Lewis Gradon Sir Michael Daniell Anna Curzon Cather Simpson Graham McLeanLisa McIntyre
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3 Agenda • Chair’s Address • Managing Director and Chief Executive Officer’s Address • Financial Statements • Resolutions • Voting • General Questions
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4 Neville Mitchell Board Chair
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NZ Campus 1 - Building 5 28,000 m2 / 300,000 ft2
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NZ Campus 2 - Karaka Future second campus in South Auckland
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8 Mark Cross Your Board Neville Mitchell Lewis Gradon Sir Michael Daniell Anna Curzon Cather Simpson Graham McLeanLisa McIntyre
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9 Anna Curzon New director
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10 Margie Apa Future Director
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11 Neville Mitchell Board Chair
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12 Lewis Gradon Managing Director and CEO
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13 FY26 financial highlights Operating Revenue $2.31B 12% (cc) Net Profit After Tax $468.5M 28% (cc) Constant currency growth rates Gross Margin 63.7% 122bps Hospital Hardware 27% (cc)
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14 10-year trends Constant currency growth rates $0.0b $0.5b $1.0b $1.5b $2.0b $2.5b 16 17 18 19 20 21 22 23 24 25 26 Revenue FY26 $2.31B 12% $0m $100m $200m $300m $400m $500m $600m 16 17 18 19 20 21 22 23 24 25 26 Net Profit After Tax FY26 $468.5M 28%
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15 Dividends 0c 10c 20c 30c 40c 50c 60c 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 CPS (NZ cents) Interim CPS Final CPS Total CPS FY26 Final Dividend 33cps 38% FY26 Total Dividend 52cps 22% Dividend history FY16 - FY26 10-year DPS CAGR 12%
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Global trade and world events
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17 FY27 first half outlook At 31 July exchange rates*, guidance assumptions for the first half of the 2027 financial year include a continuation of the current trading environment and result in: • Operating revenue of approximately $1.24 billion • Net profit after tax of approximately $280 million. This would equate to approximately 14% growth in reported operating revenue and approximately 24% growth in net profit after tax (excluding the impact of US tariff refunds), compared to the first half of the 2026 financial year. *31 July 2026 exchange rates of NZD:USD 0.59, NZD:EUR 0.51, NZD:MXN 10.17.
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18 FY27 full year outlook At 31 July exchange rates*, our full year guidance is for: • Operating revenue in the range of approximately $2.47 billion to $2.57 billion • Net profit after tax in the range of approximately $525 million to $565 million. The first half and full year net profit after tax guidance incorporates $23 million in US IEEPA tariff refunds. The full year outlook assumes current global tariff rates, policies and applications for the duration of this financial year and continues to anticipate an overall improvement in gross margin. *31 July 2026 exchange rates of NZD:USD 0.59, NZD:EUR 0.51, NZD:MXN 10.17.
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19 Building momentum for the future FY2021 FY2026 Change Comment People in Research & Development 684 969 42% R&D spend averaging 10.6% of revenue over five years. Patents in the United States 381 768 102% Our global patent portfolio now numbers more than 4,500. People in Sales, Marketing & Distribution 1,230 1,568 27% A direct sales presence in 55 countries vs. 45 in FY21. Nasal high flow (NHF) clinical practice guidelines 5 12 +7 ~3,200 studies cumulatively published over five years. Number of professional societies or groups with anesthesia guidelines recommending/acknowledging NHF ~10 ~25 +~15 Guidelines span several strategic markets including North America, UK, France, and Australia/NZ. Hospital hardware revenue Approximately ~$880m in cumulative hospital hardware revenue from FY2022 to FY2026.
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20 Gross margin recovery 45% 50% 55% 60% 65% FY22 FY23 FY24* FY25 FY26 Our 5-year margin history Long-term gross margin target *Underlying gross margin excludes the product recall provision
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21 Revenue growth since 2001 $0 $500 $1,000 $1,500 $2,000 $2,500 2001 2006 2011 2016 2021 2026 Revenue (NZ$m) Revenue in NZ$ millions by financial year ~24 million patients $2.31 billion revenue
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22 Neville Mitchell Board Chair
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23 Financial statements • Opportunity for shareholders to ask any questions specifically on the financial statements, the auditor’s report or the company’s 2026 annual report. • There will be an opportunity to ask any general questions once all items on the agenda have been considered.
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24 Resolutions 1. Election of Anna Curzon 2. Auditor’s Remuneration 3. Directors’ Remuneration 4. Discretionary Long Term Variable Remuneration to Lewis Gradon 5. Issue of Performance Share Rights – North America 6. Issue of Share Options – North America 7. Issue of Employee Share Rights – North America
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25 How to vote online Voting box Question box Help line
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26 Neville Mitchell Board Chair
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27 Resolution 1: Election of Anna Curzon That Anna Curzon, who being eligible, offers herself for election, be elected as a Director of the company. Click “Submit Vote” to lodge your vote. Need help? Call the MUFG Corporate Markets helpline 0800 200 220
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28 Resolution 2: Auditor’s Remuneration That the Directors be authorised to fix the fees and expenses of PwC as the company’s auditor. Click “Submit Vote” to lodge your vote. Need help? Call the MUFG Corporate Markets helpline 0800 200 220
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29 Resolution 3: Directors’ Remuneration That the maximum aggregate annual remuneration payable to non-executive Directors be increased by NZ$350,000 from NZ$1,750,000 to NZ$2,100,000 (plus GST as appropriate). Click “Submit Vote” to lodge your vote. Need help? Call the MUFG Corporate Markets helpline 0800 200 220
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30 Resolution 4: Discretionary Long Term Variable Remuneration That the grant of discretionary long term variable remuneration instruments to Lewis Gradon, Managing Director and Chief Executive Officer, be approved. Click “Submit Vote” to lodge your vote. Need help? Call the MUFG Corporate Markets helpline 0800 200 220
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31 Resolution 5: Issue of Performance Share Rights That the Fisher & Paykel Healthcare Corporation Limited 2025 Performance Share Rights Plan – North America be approved. Click “Submit Vote” to lodge your vote. Need help? Call the MUFG Corporate Markets helpline 0800 200 220
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32 Resolution 6: Issue of Share Options That the Fisher & Paykel Healthcare Corporation Limited 2025 Share Option Plan – North America be approved. Click “Submit Vote” to lodge your vote. Need help? Call the MUFG Corporate Markets helpline 0800 200 220
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33 Resolution 7: Issue of Employee Share Rights That the Fisher & Paykel Healthcare Corporation Limited Employee Share Rights Plan – North America be approved. Click “Submit Vote” to lodge your vote. Need help? Call the MUFG Corporate Markets helpline 0800 200 220
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34 Neville Mitchell Board Chair
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35 Questions Questions
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36 Thank you for attending today’s Annual Shareholders' Meeting