New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>With Pacific Edge’s (PEB) key financials pre-released, there was little in its FY26 results to change investors’ view on its position and outlook.</li><li>The modest positive from the result was PEB has now received confirmation from Novitas that it can seek claim-by-claim reimbursements for tests covered under the draft decision before it is finalised and effective.</li><li>Together with the early coverage decision, this provides the backdrop for a lower FY27 cash burn than its targeted NZ$2.5m per month; we estimate -NZ$2.2m.</li></ul>

With Pacific Edge’s (PEB) key financials pre-released, there was little in its FY26 results to change investors’ view on its position and outlook.The modest positive from the result was PEB has now received confirmation from Novitas that it can seek claim-by-claim reimbursements for tests covered under the draft decision before it is finalised and effective.Together with the early coverage decision, this provides the backdrop for a lower FY27 cash burn than its targeted NZ$2.5m per month; we estimate -NZ$2.2m.

Pacific Edge

Pacific Edge FY26 Result—A Clean Test