AVITA Medical Announces Positive PermeaDerm® Study Results Demonstrating 70% Economic Advantage over Allograft and Comparable Clinical Outcomes

• Primary endpoint achieved, demonstrating a 70% economic advantage over allograft based on product cost per percent total body surface area treated (p<0.001)
• 96% reduction in preparation time and comparable clinical outcomes to allograft including graft take, wound healing, and safety
• Multi-center randomized controlled study supports PermeaDerm as a clinically comparable, economically advantaged alternative to allograft for wound temporization with off-the-shelf availability and no requirements for thawing, meshing, or tissue tracking logistics
• Management to host Key Opinion Leader webinar at 4:30 p.m. ET on August 18

VALENCIA, Calif., Aug. 18, 2026 — AVITA Medical®, Inc. (NASDAQ: RCEL, ASX: AVH), a leading therapeutic acute wound care company, today announced positive results from its multicenter, randomized controlled PermeaDerm-I clinical study demonstrating PermeaDerm®, a biosynthetic wound matrix, delivered clinically comparable outcomes to cadaveric allograft while reducing product cost by 70%.

The study met its primary endpoint, demonstrating statistically significant superiority (p<0.001) for mean cost per percent total body surface area (%TBSA) treated. Mean treatment cost was $148.70 for every 1% TBSA treated with PermeaDerm compared with $497.10 for allograft, representing a savings of approximately $348 per %TBSA.

As an off-the-shelf product, PermeaDerm reduced preparation time by 95.7% compared with allograft by eliminating tissue tracking, thawing, and meshing, while maintaining comparable application time in the operating room.

Clinical outcomes were comparable between treatment groups. Approximately 94% of PermeaDerm patients achieved at least 95% graft take one week following autografting, comparable to allograft, and all patients in both groups achieved 95% or greater wound healing by eight weeks. No adverse events were attributed to PermeaDerm during the study.

“Temporary wound coverage is a critical step between excision and definitive closure when a wound bed is not yet ready for autograft placement,” said Anju Saraswat, MD, Associate Burn Director and Assistant Professor of Surgery at Atrium Health Wake Forest Baptist Burn Center and study investigator. “These results demonstrate that PermeaDerm provided clinical performance comparable to allograft with the added benefit of product transparency enabling direct visualization of the wound bed. By eliminating tissue bank logistics and preparation time, PermeaDerm offers a more efficient approach to wound temporization without any compromise to healing outcomes and reducing cost.”

“The PermeaDerm-I study establishes compelling clinical and economic evidence supporting PermeaDerm as a modern alternative to allograft,” said Cary Vance, President and Chief Executive Officer of AVITA Medical. “By combining comparable clinical performance with meaningful economic value and a simpler workflow, we believe PermeaDerm addresses an important need for hospitals while strengthening AVITA's differentiated acute wound care portfolio.”

The randomized controlled study enrolled 40 patients across 11 U.S. burn centers with wounds involving up to 30% TBSA eligible. Following excision, patients were randomized to receive either PermeaDerm or cadaveric allograft during the temporization period before definitive split-thickness skin grafting.

At final follow-up, all responding investigators and patients reported satisfaction, with responses rated as satisfied or very satisfied.

Virtual Analyst and Investor Event

AVITA Medical will host a Key Opinion Leader webinar featuring Dr. Anju Saraswat, Associate Burn Director and Assistant Professor of Surgery at Atrium Health Wake Forest Baptist Burn Center and Dr. Christina Sharon, Burn and Acute Care Surgeon, Burn Center Director at Baton Rouge General, Baton Rouge, Louisiana to review the PermeaDerm-I clinical data and discuss clinical experience using PermeaDerm on Tuesday, August 18, 2026, at 4:30 p.m. Eastern Time (Wednesday, April 19, 2026, at 6.30 a.m. Australian Eastern Standard Time).

Direct webcast link: https://edge.media-server.com/mmc/p/mutcdcpe

To participate by phone, please register in advance to receive dial-in details and a personal PIN: https://register-conf.media-server.com/register/BI5acf2c543d9d4f8490ea42e28ae998e1

A replay of the webcast will be available shortly after the event under the Events & Presentations section of the AVITA Medical website at: https://ir.avitamedical.com/.

About PermeaDerm

PermeaDerm is a biosynthetic wound matrix designed to provide temporary wound coverage during the period between surgical excision and definitive closure. The transparent bilayer matrix protects and stabilizes the wound while allowing clinicians to visualize the wound bed without removing the product. PermeaDerm can be used to temporarily stabilize and protect the wound before subsequent reconstruction, and is a part of AVITA Medical's broader acute wound care portfolio alongside Cohealyx® and RECELL®.

About PermeaDerm-I

PermeaDerm-I is a post-market multicenter, randomized controlled clinical trial evaluating PermeaDerm compared with cadaveric allograft in patients with acute wounds requiring temporary coverage prior to definitive skin grafting.

Forty patients across 11 U.S. burn centers were randomized to receive either PermeaDerm or allograft following surgical excision. The primary endpoint evaluated treatment cost per percent total body surface area treated. Secondary endpoints included preparation time, application time, graft take, wound healing, inflammatory profile, adverse events, and surgeon and patient satisfaction.

Patients were followed for eight weeks following definitive closure.

For more information, visit ClinicalTrials.gov (NCT06750809).

About AVITA Medical, Inc.

AVITA Medical® is a leading therapeutic acute wound care company delivering transformative solutions. Our technologies are designed to optimize wound healing, effectively accelerating the time to patient recovery. At the forefront of our platform is RECELL®, approved by the FDA for the treatment of thermal burn and trauma wounds. RECELL harnesses the healing properties of a patient’s own skin to create Spray-On Skin™, offering an innovative solution for improved clinical outcomes at the point-of-care. In the U.S., AVITA Medical also holds the exclusive rights to market, sell, and distribute Cohealyx®, an AVITA Medical-branded collagen-based dermal matrix, and the exclusive rights to manufacture, market, sell, and distribute PermeaDerm®, a biosynthetic wound matrix.

In international markets, RECELL is approved to promote skin healing in a wide range of applications, including thermal burn and trauma wounds. RECELL and RECELL GO® are CE-marked in Europe, have TGA certification in Australia, and are listed with Medsafe in New Zealand; RECELL is PMDA-approved in Japan.

To learn more, visit www.avitamedical.com.

Investor & Media Contact

Ben Atkins Phone +1-805 341 1571 [email protected] | [email protected]

Authorized for release by the Chief Financial Officer of AVITA Medical, Inc.

©2026 AVITA Medical. AVITA Medical®, the AVITA Medical logo, Cohealyx®, RECELL®, RECELL GO®, and Spray-On Skin™ Cells are trademarks of AVITA Medical. PermeaDerm® is a registered trademark owned by Stedical Scientific, Inc. All other trademarks are the properties of their respective owners.