Mesoblast (MSB) Investor presentation summary

Leadership in allogeneic cellular medicines

• Global leader in off-the-shelf cellular therapies for severe inflammatory conditions, with operations in the US, Australia, and Singapore.

• Product candidates based on remestemcel-L and rexlemestrocel-L stromal cell platforms.

• First FDA-approved product, Ryoncil, launched successfully; robust global IP portfolio through at least 2044.

• Commercial-scale FDA-inspected manufacturing facilities established.

Commercial performance and financial position

• Ryoncil net revenue exceeded US $100M since launch, with Q3 FY26 net revenue at US $30.3M.

• Gross profit for 1H FY26 was US $44.2M, supporting reinvestment in R&D and clinical programs.

• Cash balance of US $122M as of March 31, 2026; net operating cash spend for Q3 FY26 was US $4.1M.

• New US $125M term loan refinanced higher-cost debt, supporting ongoing Phase 3 programs and manufacturing.

Proprietary technology and pipeline

• Unique allogeneic cell technology enables scalable, off-the-shelf production with no need for immunosuppression.

• Extensive pipeline includes late-stage assets for pediatric/adult SR-aGvHD, chronic low back pain, and heart failure.

• Partnerships in Japan, Europe, Latin America, and China expand market reach for key indications.