SCHEDULE: L1 Capital Boosts Stake in Anteris Technologies to 19.9%

L1 Capital Pty Ltd has increased its beneficial ownership in Anteris Technologies Global Corp. to 19.9% of common stock, holding over 8.2 million shares.

Summary

• L1 Capital Pty Ltd, an Australian investment firm, reported beneficial ownership of 8,219,814 shares of Anteris Technologies Global Corp. common stock.
• This represents 19.9% of the issuer's outstanding common stock, based on 41,197,570 shares outstanding as of November 11, 2025.
• The shares are held across several funds managed by L1 Capital Pty Ltd, including L1 Long Short Fund Limited, L1 Capital Long Short Fund, L1 Capital Long Short (Master) Fund, L1 Capital Global Champions Fund, and L1 Capital Global Long Short (Master) Fund.
• This filing is an Amendment No. 1 to a previous Schedule 13G filed on January 23, 2025, which reported 6,741,401 shares.
• The reporting person certifies that the securities were not acquired for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 7

Explanation: The significant increase in institutional ownership by L1 Capital Pty Ltd to 19.9% is generally a positive signal, indicating strong confidence from a professional investment firm in Anteris Technologies Global Corp.'s prospects.

Positives

• Increased institutional ownership by L1 Capital Pty Ltd, indicating continued confidence in Anteris Technologies Global Corp.'s prospects.
• L1 Capital Pty Ltd now holds a significant 19.9% stake, nearing the 20% threshold often associated with substantial passive investment.

Risks

• The reporting person, L1 Capital Pty Ltd, certifies that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Future Outlook

This Schedule 13G filing is a disclosure of current ownership and does not contain forward-looking statements or guidance from the issuer.

Management Comments

• Mark Landau, a Director of L1 Capital Pty Ltd, may be deemed to beneficially own the issuer's securities described herein and disclaims beneficial ownership of these securities for all other purposes.
• L1 Capital Pty Ltd certifies that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing indicates a significant passive investment by an Australian investment firm in a U.S.-listed company. Such disclosures are common for institutional investors accumulating substantial stakes, signaling their belief in the company's long-term value without intending to exert control over management or operations.

Stakeholder Impact

• Shareholders: May view the increased institutional ownership as a positive indicator of the company's value and future prospects, potentially leading to increased investor confidence.
• Company Management: The significant stake held by L1 Capital Pty Ltd could lead to increased scrutiny or engagement, even if the investment is currently passive.

Next Steps

• L1 Capital Pty Ltd will continue to monitor its investment in Anteris Technologies Global Corp.
• Further Schedule 13G amendments would be filed if L1 Capital's beneficial ownership significantly changes (e.g., crosses a 1% threshold up or down) or if their investment intent changes from passive to active (requiring a Schedule 13D filing).

Key Dates

Recommendation

While the increased stake by a reputable investment firm like L1 Capital Pty Ltd is a positive signal, a Schedule 13G filing primarily discloses ownership and intent. It does not provide new financial performance data or strategic updates from the company itself that would warrant a 'buy' or 'sell' recommendation. The 'hold' recommendation reflects the positive signal of institutional confidence without additional fundamental information to change a prior investment thesis.

Keywords

Anteris Technologies Global Corp, L1 Capital Pty Ltd, Schedule 13G, beneficial ownership, institutional investment, equity stake, common stock, SEC filing, investment firm, Australia