Strong Start to Fiscal 2021 for Avita; Maintain AUD 18 FVE

We expect the standard of care for treatment of burns to change and Avita’s RECELL to gain significant share in this market. There are a number of emerging treatments in burn and wound care set to challenge the current standard which is a skin graft sourced from elsewhere on the patient’s body. We believe Avita will be successful based on the product’s clinical performance, ease of use and relative price point. RECELL creates Spray-on Skin within 30 minutes from a small skin sample, typically less than 5% of the size required in a graft. It has been clinically demonstrated to heal the burn site as effectively as a skin graft without creating a large donor site wound.