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.

• Anita James, CFO for just over four years, was appointed interim CEO and assumed full responsibility; Brent’s handover was largely complete.

• The CEO search will consider internal and external candidates; Anita will be considered for the permanent role.

FY26 performance and strategic priorities

• FY26 results showed a strong balance sheet and a return to profitability after a period of rebuilding and stabilizing the business.

• Priorities: grow existing Australian and international business, expand Penthrox’s geographic reach, and improve operational efficiency and cost management; strategic direction remains unchanged.

• FY26 milestones included European pediatric label approval and published health economic data indicating Penthrox can reduce emergency department costs.

• FY26 inventory-stocking headwind cycling in FY27 was estimated at ~AUD 2m.

Penthrox markets and growth opportunities

• Europe end-market demand grew 37% in FY26; FY27 is expected to more closely align in-market demand with sales volumes after prior-year inventory build.

• European partners reported strong opportunity following the pediatric label expansion; end-market demand is expected to flow through as pipeline-fill issues ease.

• Expansion focus includes larger European markets, a new Middle East and North Africa partner, Labatec, and other non-European partnership opportunities.

• Ambulance adoption is a target in existing and new markets, including the UK following pediatric approval; adoption can take time due to institutional protocols.

• Market entry will use the existing strategy, strengthened by pediatric labeling and health economic evidence; emergency departments and procedural uses may offer greater opportunities than ambulance markets in some countries.