Medical Developments International (MVP) Investor update summary

Leadership transition

• Brent MacGregor stepped down as CEO effective immediately after six years; he will remain available in an advisory capacity until mid-November for handover.

• Former CFO Anita James, with more than four years in that role, was appointed Interim CEO; she will be considered alongside external candidates in the permanent CEO search.

• The board described the transition as orderly, with most handover complete and the remaining handover expected in the coming weeks.

Performance and outlook

• FY 2026 results showed a return to profitability and a balance sheet described as being in good shape, following a multi-year rebuild and stabilization.

• Penthrox end-market demand in Europe grew 37% in FY 2026; partner stocking included expected demand following the pediatric label and a supply-chain transition in France.

• FY 2027 is expected to have a clearer alignment between in-market demand and sales volumes, while the prior-year inventory build creates a tough YoY comparison.

• The FY 2026 inventory-stocking headwind being cycled in FY 2027 was estimated at ~AUD 2 million.

Penthrox strategy and growth

• Priorities include growing existing Australian and international business, expanding Penthrox in Europe and larger markets, exploring other international partnerships, and improving operational efficiency and cost management.

• The pediatric label and health-economic evidence of emergency-department cost savings are intended to support access and partner growth; the broader label may also help address ambulance adoption barriers, including in the U.K.

• Labatec was appointed as partner for the Middle East and North Africa business; it also manages Penthrox in Switzerland.

• Ambulance adoption can take time due to institutional protocols, while emergency departments and procedural uses may offer greater opportunities in some markets.