PolyNovo (PNV) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with introductions of board members, new Acting CEO, and acknowledgment of outgoing and incoming directors.

• Welcomed shareholders both in-person and online, confirming quorum and outlining meeting structure.

Financial performance review

• Achieved record regulatory clearances and expanded commercial sales by nearly 29%, reaching 46 markets.

• Closed the year with $33.5 million in cash, positive operational cash flow, and no need to raise capital for expansion.

• Net profit after tax increased by 151%, with revenues surpassing $129 million.

• Commercial sales grew over 33% year-on-year at the start of the new financial year.

Board and executive committee updates

• Bruce Peatey appointed as permanent CEO effective December 1, 2025; Rob Douglas joined as a new director.

• Acknowledgment of outgoing Chair David Williams for his decade-long leadership.

• Recruitment for additional directors and executive roles is ongoing, with a focus on supporting the new CEO.