Announcement PDF GENERAL MEETING Expansion of exclusive rights April 2023 DISCLAIMER The information in this presentation does not constitute personal investment advice. The presentation is not intended to be comprehensive or provide all information required by investors to make an informed decision on any investment in Invion Limited (Company). In preparing this presentation, the Company did not take into account the investment objectives, financial situation and particular needs of any particular investor. Further advice should be obtained from a professional investment adviser before taking any action on any information dealt with in the presentation. Those acting upon any information without advice do so entirely at their own risk. 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Any opinions expressed reflect the Company’s position at the date of this presentation and are subject to change. 2 Next Generation Photodynamic Therapy | April 2023 NEW OPPORTUNITIES TAPPING INTO US, CANADA AND HK Expanding Invion’s exclusive rights to USA, Canada and Hong Kong for Atherosclerosis and Infections Diseases (AID) Invion to pay $2.5M to RMW for expanded Infectious Diseases rights Invion has option to pay a further $1M (at its discretion) for Atherosclerosis rights for the three Territories Any pre-clinical work or clinical trials are at Invion’s election RMW pays 75% (Invion 25%) of future non-clinical work and vice versa for clinical work RMW will continue to fund all cancer R&D/clinical work in ANZ under existing R&D Services Agreement EXPANDING THE ADDRESSABLE MARKETS REACHING AN ADDITIONAL 377M PEOPLE Current territories New territories for AID AID – Atherosclerosis & Infectious Diseases ID – Infectious Diseases only 4 Indications Existing Territories New Territories Atherosclerosis & Infectious Diseases (AID) ANZ and Asia Pacific excluding Middle East, Russia and the specified territories of China, Hong Kong, Macau and Taiwan USA, Canada and Hong Kong Cancers ANZ and Asia Pacific excluding China (other than Hong Kong), Macau, Taiwan, Japan and South Korea (IVX has the option to include atherosclerosis) BROAD-SPECTRUM ANTI-MICROBIAL POTENTIAL INFECTIOUS DISEASES: EFFECTIVE AGAINST VIRUSES, BACTERIA AND FUNGI IN VITRO “Antimicrobial resistance (AMR) is one of the top 10 threats facing humanity” World Health Organisation1 Leading Institutions: Viroclinics conducted virus tests & ACARE (University of Adelaide) conducted bacteria and fungi tests Broad Spectrum Potential: In vitro tests showed PhotosoftTM to be effective against several types of pathogens, including antibiotic-resistant superbugs Need for New Treatment Options: Potential for PhotosoftTM as a new treatment class for polymicrobial infections and/or where pathogens cannot develop drug resistance 5 Next Generation Photodynamic Therapy | April 2023 1 https://www.who.int/news-room/fact-sheets/detail/antimicrobial-resistance “ Given the general mode of action of PDT, we surmise that it is unlikely for superbugs to develop resistance to the compounds. ” Prof Darren J. Trott, Director, Australian Centre for Antimicrobial Resistance Ecology (ACARE), University of Adelaide EFFECTIVE AGAINST SARS-CoV-2 IN VITRO ANTIVIRAL ACTIVITY AGAINST DELTA AND OMICRON VARIANTS SARS-CoV-2: Delta Selected PhotosoftTM Compounds vs. Remdesivir Multiple PhotosoftTM compounds show effectiveness against SAR-CoV-2 at far lower concentrations than Remdesivir 100 80 % Inhibition Nine out of ten PhotosoftTM compounds tested displayed antiviral activity against both Delta and Omicron variants of SARS-CoV-2 60 40 20 0 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1 0.9 1 Concentration µM Antiviral activity occurred once PhotosoftTM compounds were activated with red light SARS-CoV-2: Omicron Selected PhotosoftTM Compounds vs. Remdesivir either no or low cytotoxicity The global coronavirus treatment market is forecast to reach US$49bn by 2027 (17.5% CAGR)* 100 % Inhibition PhotosoftTM compounds tested demonstrated 80 60 40 20 0 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 Concentration µM *https://www.coherentmarketinsights.com/market-insight/coronavirus-treatment-drugs-market-4312 6 Next Generation Photodynamic Therapy | April 2023 % Inhibition - Compound 7 % Inhibition - Remdesivir % Inhibition - Compound 9 % Inhibition - Compound 10 EFFECTIVE AGAINST ZIKA AND DENGUE IN VITRO ANTIVIRAL ACTIVITY AGAINST ZIKA AND DENGUE Zika Dengue Inhibition: PhotosoftTM compound vs Monensin1 Inhibition: Selected PhotosoftTM Compounds vs Monensin1 100 90 90 80 80 70 70 % Inhibition Percentage (%) inhibition 100 60 50 40 30 20 - PhotosoftTM compound - PhotosoftTM compound 60 50 40 30 20 10 10 0 0 0 0.2 0.4 0.6 0.8 1 1.2 0 1.4 % Cytotoxicity % Inhibition - Monensin % Cytotoxicity - Monensin 0.4 0.6 0.8 1 Concentration (µM) Concentraton (µM) % Inhibition 0.2 1 Monensin is an antibiotic known to have activity against Zika in in vitro laboratory tests and was a control (benchmark) in these studies, but due to its in vivo toxicity cannot be used in humans Several PhotosoftTM compounds had >100x the activity of Monensin3 (selected control) in vitro One compound had an EC50 (half max effective concentration) >90 times lower than Monensin Zika virus is found in 86 countries and is linked to birth defects and other neurological complications Dengue causes intense pain in joints and muscles, hence its nickname “breakbone fever” Market is ~US$17 billion in 20221 with no vaccines or treatments currently available2 Treatment market is forecast to hit US$1.3 billion by 20304 7 Next Generation Photodynamic Therapy | April 2023 2https://www.marketdataforecast.com/market-reports/zika-virus-vaccines-market 3https://www.who.int/news-room/fact-sheets/detail/zika-virus 4 https://www.biospace.com/article/-dengue-vaccines-market-size-to-reach-us-1-3-billion-by-2030/ EFFECTIVE AGAINST BACTERIA AND FUNGI MRSA SUPERBUG, E.COLI BACTERIA & CANDIDA ALBICANS FUNGUS activity in vitro against multiple strains of antibiotic-resistant MRSA bacteria, Escherichia coli bacteria and Candida albicans fungus* 8 Next Generation Photodynamic Therapy | April 2023 10 5 Candida albicans VDLF1642 MIC Candida albicans ATCC 90028 MIC 0 Gram-negative (E. coli ATCC 35218) MIC *Tests undertaken at the Australian Centre for Antimicrobial Resistance Ecology (ACARE), University of Adelaide 15 Gram-negative (E. coli ATCC 25922) MIC PhotosoftTM’s mode of action has the potential to make it unlikely for superbugs to develop resistance 20 Gram-positive (USA300) [MRSA] MIC  MRSA is an antibiotic resistant bacteria that is difficult to treat, with the World Health Organisation (WHO) having declared antimicrobial resistance (AMR) as one of the top 10 threats facing humanity 25 µM  30 Broad Spectrum Activity: Minimum Inhibition Concentration (MIC50) of Selected Photosoft Compound following exposure to light for 5 minutes Gram-positive (ATCC 43300) [MRSA] MIC  Several PhotosoftTM compounds showed Note: The in vitro studies that were conducted at the University of Adelaide used enrofloxacin and amphotericin B as control antibiotics for the antibacterial and antifungal tests, respectively. WHAT IS ATHEROSCLEROSIS KEY CAUSE OF HEART DISEASE DEATHS GLOBALLY  Atherosclerosis is a common condition where sticky substances called plaque builds up in arteries  Preclinical studies underway to test if Photosoft™ can safely break down the plague  Diseases linked to atherosclerosis is the leading cause of death in the US*  About half of Americans between ages 45 and 84 have atherosclerosis and don’t know it*  The global atherosclerosis market is estimated to grow to US$58.2 bn by 2032+ *National Heart, Lung, and Blood Institute (NIH) https://www.nhlbi.nih.gov/health/atherosclerosis +https://www.futuremarketinsights.com/reports/atherosclerosis-market 9 How Atherosclerosis can cause disability and death* THE WAY FORWARD MULTIPLE CATALYSTS AND MILESTONES Australia Proof of Concept (PoC) Building on in vivo work further demonstrating both safety and efficacy profiles • Pre-clinical Preparations: Building foundations for clinical trials in multiple indications and internationally • Clinical Trials: With strong in vitro and in vivo results demonstrating both safety and efficacy profiles, and across multiple cancer types, the next steps will be to conduct clinical trials in multiple indications, including • • Skin Cancer (superficial basal cell carcinoma) • Anogenital Cancer • Other solid tumour cancers TBC1 GMP manufacturing and scale up: Building capacity to scale up for global late-stage trials and commercialisation AID Atherosclerosis and Infectious Diseases (AID) Early stage broad based discovery Identification of target indications 1 RMW Cho Group (“RMW”) Global Cancer • Expand Internationally: Leveraging Australian clinical trial data into later stage programs in other major markets Proof of Concept on targeted indications as licensor of PhotosoftTM technology, is pursuing independent research in parallel with Invion’s R&D efforts including a prostate cancer trial. The research is complementary/supplemental to Invion’s development program. To the extent that Invion becomes aware of material information relating to RMW’s studies, Invion will release the information to the ASX in compliance with its disclosure obligations (noting however that Invion is not involved in RMW’s studies and does not have direct access to information) 10 Next Generation Photodynamic Therapy | April 2023 MANAGEMENT TEAM THE RIGHT EXPERTISE FOR SUCCESS THIAN CHEW EXECUTIVE CHAIRMAN & CEO MELANIE LEYDIN CFO • Managing Partner, Polar Ventures • Executive Director, Goldman Sachs • Director, KPMG Consulting, Senior Manager KPMG • Adj. Prof. HKUST, MBA/MA Wharton School • 25+ years in accounting profession • Partner, Vistra • CFO and Co. Secretary multiple biotech companies • Fellow Gov. Institute of Australia, Chartered Acc’t DR ANDREW STEPHENS HUDSON INSTITUTE, R&D NICOLETTA MUNER REGULATORY AND CLINICAL DEVELOPMENT • 15+ years in novel treatment R&D • 20+ years non-clinical and clinical drug development, quality, manufacturing, incl. EMA and US FDA approval • Founder, Ovarian Cancer Biomarker Group, Hudson Institute 11 • Postdoc. positions, the Uni. of Sydney and Prince Henry’s Institute, PhD Biochemistry Monash Uni • Founder Canary Regulatory Affairs • Published extensively, holds several patents • Pre-clinical and regulatory affairs, Pfizer DR SEBASTIAN MARCUCCIO CHEMISTRY LOUISE WHITE MANUFACTURING AND QUALITY • 15+ years in Pharmaceutical and organic chemistry developmental research • 35+ years in the pharmaceutical industry, 13 years in vaccine manufacturing, CSL, Partner SeerPharma • 16+ years commercial experience in molecular based companies (Managing Director / Founder) • Senior roles in virology R&D, bacterial vaccines production, quality control and production planning • Adj. Prof. La Trobe University, PhD Organic Chemistry ANU • Registered auditor for APVMA ALEXANDER BENNETT TECHNICAL ADVISOR, LIGHT KIM STEEL CLINICAL TRIAL MANAGEMENT • 35+ years in R&D, manufacturing and commercialisation of scientific instrumentation incl. ISO certifications • 15+ years managing global and clinical drug and device studies from Phase 1-IV across 14 countries • GM Forensic Light Sources, Rofin Australia. • Director, Sapro Consulting • Led Medical Light Source trial for PDT in skin cancers Peter MacCallum Cancer Centre • Project Director, Novotech Next Generation Photodynamic Therapy | April 2023 • Global Regulatory Affairs, Clinuvel Pharmaceuticals • Project Manager, Pacific Clinical Research Group Q&A SESSION ©Copyright Invion Limited| A C N 094 730 417| A S X : I V X 2