Announcement PDF ANNUAL GENERAL MEETING November 2024 ASX: IVX Next Generation Photodynamic Therapy (PDT) for Cancers and Infectious Diseases 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 YEAR OF ACHIEVEMENTS PROGRESSING TOWARDS KEY CLINICAL MILESTONES Patient Recruitment for Ph I/II Non-Melanoma Skin Cancer Trial Successful Ph 2 Prostate Cancer Clinical Trial Results Collaboration Hanlim Pharm: Glioblastoma (Preclinical) Combination INV043 + ICI Immunotherapy in ASCC: 80% Tumour Control (vs 12% standalone) Partnership Dr.inB to Develop Photosoft for HPV (PoC Clinical Trials) GMP Manufacture INV043 by IDT Australian Patent Granted FY 24 3 FY 25 TARGET DISEASES AND INDICATIONS PDT FOR TREATMENT OF CANCERS AND INFECTIOUS DISEASES* PRIMARY FOCUS: CANCER (INV043)  Multiple cancer indications  Ablation and activation of immune response  Improved efficacy of immune checkpoint inhibitor (ICI) treatments when in combination  Topical and systemic formulations  Strong therapeutic profile 4 INFECTIOUS DISEASES  Broad spectrum antimicrobial activity against viruses, bacteria and fungi  No known drug resistance (to address AMR)  Commercially viable focus Target Indications Target Indications  Non-melanoma skin cancer (topical)  Prostate cancer (sublingual)  Anogenital cancer (topical)  Glioblastoma (GBM): studies undertaken and funded by Hanlim Pharma  Solid tumour cancer TBD (IV)  Human Papilloma Virus (HPV): studies undertaken and funded by Dr.inB  Oral antimicrobial: peri-implant mucositis  Additional TBD *Core Australian cancer development fully funded by RMW Cho Group, inventor/owner of Photosoft. Invion has exclusive rights to Photosoft in Asia and Oceania, including Australia and New Zealand (ANZ), but excluding the specified territories of China, Macau and Taiwan. The USA and Canada are included for Infectious Disease Indications. Invion co-contributes 25% pre-clinical & 75% clinical costs outside of ANZ. RESULTS AND FINDINGS: CANCER Clinical & Preclinical Data PHASE II PROSTATE CANCER CLINICAL TRIAL INVESTIGATOR-LED PROSTATE CANCER STUDY USING INV043* Screening: Men between 50-80 years with  Biopsy proven primary prostate cancer, or  Primary prostate cancer diagnosed by PSMA-PET or MRI. 75 Patients originally planned PATIENT PROFILE Patient Profile • Primary or relapsed • Primary or relapsed localised prostate localised prostate cancer (diagnosed via cancer (diagnosed via biopsy or PSMA-PET) biopsy or PSMA-PET) • Ages: 50-70 • Ages: 50-70 (mean 62.5) (mean 62.5) • Gleason Scores: 6-9 • Baseline Gleason (mean 6.9) Scores: 6-9 (mean 6.9) 6 1st cohort of 25 patients enrolled 41 Patients enrolled (due to COVID19 disruptions) 2nd cohort of 16 patients treated postCOVID COVID-19 Lockdowns: 10 patients dropped out. Remaining treated but with inconsistent compliance and data collection Only data from 2nd cohort used PRIMARY ENDPOINT TREATMENT PROTOCOL INV043 PDT treatment effectiveness using Response Evaluation Criteria in Solid Tumours (RECIST 1.1) Each patient had 6 cycles of PDT treatment over 9 weeks (2 x PDT cycles over consecutive days, then four-week interval) SECONDARY ENDPOINTS To assess safety and tolerability as well as further assessments on effectiveness using standard outcome measures * RMW Cho Group funded study as previously disclosed to the market Each PDT cycle consisted of 2 steps. Step 1: Sublingual administration of photosensitiser Step 2: ~15-20 hours after dosing, 25 min of 660 nm laser administered PHASE II PROSTATE TRIAL RESULTS: SUBLINGUAL (SYSTEMIC) COMPELLING SAFETY, SOLID EFFICACY SIGNALS SAFE AND WELL TOLERATED EFFICACY: 40-44% RESPONSE RATE When administered sublingually to patients over 6 cycles of PDT treatments (from 2nd cohort, n=16) over 3 months:  No serious adverse events, life-threatening treatment emergent adverse events (TEAEs)  No clinically significant changes in vital signs, ECGs, or laboratory parameters reported  All adverse events reported were mild No. of Occurrences of TEAEs In contrast, current treatment options (eg, radiotherapy, chemotherapy and surgery) carry risks of significant side effects such as incontinence, bowel dysfunction, erectile # dysfunction and/or infertility1 8 6 Recorded Adverse Events 16 patients x 6 questionnaires = 96 recordings During After 4 2 PSMA-PET1 Results Patients (Cohort 2, n-=16) evaluated using PSMA-PET scan to detect prostate cancer:  BEFORE: All 16 patients were positive before treatment  AFTER: 7 patients negative 3 months after treatment (~44% response), 9 patients were positive RECIST Framework3 (Response Evaluation Criteria) Where possible, MRI scans taken pre and post treatment to measure lesion size in prostate (n=10) 2  40% patients had +ve response 3 mths post treatment o 1 complete regression (no detectable lesion) o 3 partial regression (>30% reduction in lesion size)  40% patients showed stable disease 0  20% with disease progression (>30% lesion increase) 1 PSMA PET-CT now routinely used to evaluate prostate cancer for primary staging and 7 1 https://www.pcf.org/about-prostate-cancer/prostate-cancer-side-effects/ suspected tumour recurrence (Combes AD, 2022). Employs radioactive substance that targets PSMA (prostate-specific membrane antigen) protein expressed by prostate cancer cells. 2 Two received prostatectomy prior to PDT treatment and were excluded. Four patients did not have MRI scans for various reasons (eg, presence of implants) and excluded from assessment. 3 https://recist.eortc.org ONGOING PHASE I/II TRIAL: NON-MELANOMA SKIN CANCER THERAGNOSTIC ENDPOINTS • Adaptive: Open label adaptive trial design (3+3 light dose / dose light interval escalation1) enables flexibility in size and timing, with option for repeat treatment depending on response • Safety, Dose Optimization and Efficacy: Earlier parts focus more on safety and tolerability, later parts more on dose and schedule optimization, and efficacy. Multiple treatments may be repeated for patients • Significant Unmet Need: Cutaneous Squamous Cell Carcinoma (cSCC) and superficial Basal Cell Carcinoma (sBCC), 98% of all skin cancers – one of the world’s most common cancers Part 3 Part 2 Part 1 Light Dose, 3+3 Dose-Escalation Dose Light Interval Optimisation (Optional) Dose Expansion ENDPOINTS  Safety and tolerability including Dose Limiting toxicity (DLT)  Dose optimization: Light dose, dose light interval investigations  Anti-tumour activity  Diagnostic via fluorescence  Pharmacodynamic investigations Ongoing screening and recruitment in Australia for NMSC trial using topical formulation 1 In a “3+3 design,” three patients are initially enrolled into a given dose cohort. If there is no DLT (dose limiting toxicity) observed in any of these subjects, the trial proceeds to enroll additional subjects into the next higher dose cohort. WHY SKIN CANCER? ATTRACTIVE CLINICAL TRIAL INDICATION Relatively Cost Effective Costs to undertake skin cancer trials typically lower than for other routes of administration (eg, intravenous) Faster Path to Market Trials with topical treatments often quicker to complete due to fewer safety concerns and effects can be more readily observed Synergies with Other Studies Safety data from same topical formulation may enable a faster path to a Phase II trial for anogenital cancers Large Attractive Market One of the world’s most common cancers with the skin cancer treatment market expected to hit US$18.1B in 2030 (7.7% CAGR1) Unmet Medical Need NMSC comprise 98% of all skin cancers and deaths exceed melanoma globally2 Standard of care can result in scarring and pain 9 1 https://finance.yahoo.com/news/skin-cancer-treatment-market-surpass-130500291.html 2 GLOBOCON 2020, WHO EVALUATION OF NMSC THERAPIES1 POTENTIAL TO DISPLACE STANDARD OF CARE Non-Melanoma Skin Cancer (NMSC) Phase I/II Clinical Trial (Adaptive Trial Structure): Addressing the unmet need for one of the world’s most common cancers2 GOOD INV043 (Topical) Metvix#/ALA PDT Treatment COSMETIC RESULT #by Galderma S.A. Cryosurgery Curettage & Electrodesiccation Excisional Surgery POOR FAIR 1 Based on management views 10 Mohs Surgery EFFECTIVENESS * https://www.aad.org/news/guidelines-to-treat-nonmelanoma-skin-cancer * https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5746716/ * https://amp.cancer.org/cancer/types/melanoma-skin-cancer/about/key-statistics.html 2 https://amp.cancer.org/cancer/types/melanoma-skin-cancer/about/key-statistics.html GOOD Less Pain/ Discomfort More Pain/ Discomfort) TREATMENT OPTIONS: FLEXIBILITY FOR CLINICIANS MULTIPLE PATHWAYS FOR DRUG AND TARGETED LIGHT DELIVERY INV043 can be administered to multiple target indications via different drug and light delivery options ROUTES OF DRUG ADMINISTRATION 11 TOPICAL INTRAVENOUS INTRATUMORAL SUBLINGUAL LIGHT ADMINISTRATION OPTIONS TOPICALLY (LASER/LED) WITH OPEN SURGERY ENDOSCOPICALLY KEYHOLE SURGERY MULTIPLE POTENTIAL TARGETS THERAGNOSTIC POTENTIAL MULTIPLE CANCERS, PRECISION CANCER TARGETING, PROTECTIVE IMMUNITY SELECTIVE TARGETING Treated Control PROTECTIVE IMMUNITY https://inviongroup.com/videos-reports/ • INV043 selectively retained in malignant but not healthy tissue, across multiple cancers (incl. pancreatic, triplenegative breast, T-cell lymphoma in vivo) • Triple Negative Breast Cancer (TNBC) is a hard-to-treat cancer resistant to most chemotherapies • Minimises collateral damage to healthy organ tissues with no notable toxicity issues • Hudson Institute proof-of-concept (PoC) pilot showed complete regression of TNBC in vivo following INV043 treatment • INV043 has both fluorescence as well as ablation characteristics (under different wavelengths of light) • Tumour mass undetectable two weeks after initial treatment and no scarring evident • Applications in both diagnostic (405nm) and therapeutic use (660nm) – theragnostic potential • No recurrence of disease, re-challenge with TNBC implant could not re-establish new tumours, suggesting development of protective immunity 12 1 Adapted from https://www.nature.com/articles/s41598-023-30256-0#citeas, using chlorin e6 photosensitizer. The research activities involving the use of animals were carried out in accordance with relevant guidelines and regulations as well as with appropriate Animal Ethics Committee approval. COMBINATION WITH IMMUNE CHECKPOINT INHIBITORS (ICI) IMPROVING IMMUNOTHERAPY OUTCOMES, PARTNERSHIP POTENTIAL • Immune checkpoint inhibitors (ICI), a type of immunotherapy, is standard of care in treatment of several cancers • Despite widespread use of ICIs, the patient response rate can be as low as 12.5%1 • Independent in vivo studies showed combined INV043 and anti-PD-1 therapies achieved 80% tumour elimination HUDSON INSTITUTE:. ~65% IMPROVEMENT IN TUMOUR VOLUME (TRIPLE NEGATIVE BREAST CANCER, INTRATUMORAL)2 PETER MAC: ~80% RESPONSE RATE (ANAL SCC CANCER, TOPICAL)3  4T1 breast tumours treated using a restricted INV043 PDT protocol (intratumoural) and / or anti PD-1 antibody (intratumoral)  Anal Squamous Cell Carcinoma (ASCC) tumours treated using a restricted INV043 PDT protocol (topical) and / or anti PD-1 antibody  Monotherapies restricted tumour growth vs untreated controls  Monotherapies restricted tumour growth vs untreated controls, with standalone INV043 showing lower tumour volume vs ICI alone  Combination therapy regressed and stabilized tumours and achieved a ~65% reduction in tumour size at endpoint (n=4/group)  Combination therapy resulted in 80% tumour-free subjective at endpoint (n=8-10/group) 7/10, no measurable tumour. 8th mouse histology, no evidence of tumour cells ** Combi therapy: ~65% improvement in effectiveness vs. ICI alone * *** INV043+PD1 vs Vehicle = p=0.001 ** INV043+PD1 vs PD1 p=0.0037 * INV043 vs Vehicle p=0.0397 13 1 https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2762389 2 https://announcements.asx.com.au/asxpdf/20220530/pdf/459ffkjbvdpjrg.pdf 3 Per ASX announcement 4 March 2024 *** CREATING IMPACT FOR TREATING CANCERS GLOBALLY NEED FOR MORE AFFORDABLE NEW TREATMENTS Cost of new FDA drugs in 2023 jumped 35% YoY at median price of US$300K1, making affordability even harder for the majority of the world’s patients. Trends towards personalised medicines and targeted therapies (e.g. CAR T / cell therapies, immunotherapies, antibody drug conjugates which can cost US$100-500k2), Half of new drugs are orphan3, which cost 5.5 times more than non-orphan4 Commercial Rationale for Photosoft Works across multiple cancers without need to personalise – precision with less complexity INV043 is a small molecule based therapy that is highly scalable Photosoft solution has lower development and manufacturing costs Equipment and treatment process is not complex - helps reach a larger patient base 1 https://www.reuters.com/business/healthcare-pharmaceuticals/prices-new-us-drugs-rose-35-2023-more-than-previous-year-2024-02-23/ 14 2 https://www.mdpi.com/1999-4923/15/6/1761#:~:text=Additionally%2C%20the%20cost%20of%20ADC,a%20barrier%20for%20some%20patients 3 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10290406/#:~:text=There%20has%20been%20significant%20policy,being%20approved%20in%20recent%20years 4 https://www.mdpi.com/1999-4923/15/6/1761#:~:text=Additionally%2C%20the%20cost%20of%20ADC,a%20barrier%20for%20some%20patients TARGET INDICATIONS AND TIMEFRAMES MULTIPLE CLINICAL TRIALS AND INDICATIONS DISEASE AREA (CALENDAR YEAR) 1H2024 2H2024 1H2025 2H2025 >CY26 CANCER1 Prostate Cancer (Funded by RMWC) Completed Follow up and monitoring Adaptive study design Non-Melanoma Skin Cancers (Topical)2 Anogenital Cancers (Topical) Glioblastoma (Funded by Hanlim) INFECTIOUS DISEASES HPV (Funded by Dr.inB) Oral Microbial (Peri-Implant Mucositis)3 PreClinical 15 Phase 1 Phase 1b/2 1 Cancer is the key area of focus for Invion 2 The Phase I/II NMSC trial uses an adaptive study design means recruitment numbers and timelines may change to accelerate the evaluation of INV043 3 Timing subject to ongoing dialog with US FDA to determine pre-clinical requirements INFECTIOUS DISEASES Additional Commercialisation Opportunities BROAD-SPECTRUM ANTI-MICROBIAL POTENTIAL ANTI-MICROBIAL TREATMENTS – WITHOUT RESISTANCE “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 100 % Inhibition Broad Spectrum Potential: In vitro tests showed PhotosoftTM to be effective against several types of pathogens, including antibiotic-resistant superbugs SARS-CoV-2: Omicron Selected PhotosoftTM Compounds vs. Remdesivir PhotosoftTM compounds 80 60 40 20 Remdesivir 0 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 Concentration µM Need for New Treatment Options: Potential for PhotosoftTM as a new treatment class for polymicrobial infections and/or where pathogens cannot develop drug resistance 30 Broad Spectrum Activity: Minimum Inhibition Concentration (MIC50) of Selected Photosoft Compound following exposure to light for 5 minutes 25 F1642 MIC Candida albicans VDL- 90028 MIC Candida albicans ATCC ATCC 35218) MIC Gram-negative (E. coli ATCC 25922) MIC Gram-negative (E. coli 1 https://www.who.int/news-room/fact-sheets/detail/antimicrobial-resistance 0 43300) [MRSA] MIC 17 ” 5 Gram-positive (ATCC Prof Darren J. Trott, Director, Australian Centre for Antimicrobial Resistance Ecology (ACARE), University of Adelaide 10 [MRSA] MIC Given the general mode of action of PDT… it is unlikely for superbugs to develop resistance to the compounds 15 Gram-positive (USA300) “ µM 20 1 TARGET ANTIMICROBIAL INDICATIONS COST EFFECTIVE AND ACCELERATED PATHS TO CLINICAL TRIALS HPV PROGRAM FUNDED BY DR.INB PERIODONTAL DISEASE HPV distribution profile in women 1 57.7% 44.4% 42.2% 21.4% 3.7% Eastern Asia Central & Sub-Saharan Southern Africa Asia Eastern Europe Western Europe Collaboration Addressing a Growing Unmet Need • Per CDC, 47.2% in US >30 years, have a form of periodontal disease, increasing 70.1% of those >65 years2 • Undertake and fund to Proof-of-Concept clinical trials to test • Global periodontal market size US$ 9.1 billion in 2022, to reach ~US$ 24.4 billion by 20323 patient safety and efficacy (using different PhotosoftTM photosensitizer than INV043) • 28-56% of implant patients develop peri-implantitis4, an inflammatory reaction, with loss of supporting bone • Dr.inB is a leading developer of PDT treatments in South around an implant Korea backed by Hanlim Pharma. Co., Ltd. • Collaboration provides accelerated pathway to demonstrate clinical potential of Photosoft in infectious diseases like HPV • PhotosoftTM PDT advantages • Invion retains all rights to Photosoft and any new IP 18 1 https://www.sciencedirect.com/science/article/abs/pii/S0264410X12010808 2 https://www.cdc.gov/oralhealth/conditions/periodontal-disease.html 3 https://www.futuremarketinsights.com/reports/periodontal- market#:~:text=Periodontal%20Market%20Size%20%2D%20Industry%20Outlook,billion%20by%20the%20year%202032 4 https://pubmed.ncbi.nlm.nih.gov/18724856/ and Carl E. Misch 4th Edition • No resistance development • Non-invasive treatment • Ease of application • Repeated treatment possible EXPERIENCED TEAM THE RIGHT EXPERTISE FOR SUCCESS PROF THIAN CHEW EXECUTIVE CHAIRMAN & CEO SCOTT CARPENTER PROGRAM DIRECTOR • Co-Founder, Chronic Airway Therapeutics • Advisory Board, Stanford Medicine CARE • Executive Director, Goldman Sachs • Director, KPMG Consulting, Senior Manager KPMG • Adj. Prof. HKUST, MBA/MA Wharton School • Director Business Development, Starpharma • Program Manager, AusBiotech • Regulatory Affairs, Bayer CropScience • MBA Melb Business School, B. Applied Science RMIT DR AMY PRAWIRA MEDICAL CONSULTANT DR SOUMYA RAI PROGRAM MANAGER • Founder/CEO, Obatica Pty Ltd (engaged to assist with clinical trials) • Dental surgeon, clinical and business mgmt experience • 12+ years in clinical oncology and trials • Resident, JLN House and Research Centre, SAIL • Investigator with experience in over 90 early phase clinical trials • Asst Prof. Rungta College Dental Sciences and Research • Head, Cancer Trials and Research Unit, Prince of Wales Hospital (Sydney) • MBA HKUST KIM STEEL CLINICAL TRIAL MANAGEMENT PROF SEBASTIAN MARCUCCIO MEDICINAL CHEMISTRY • 18+ years managing global and clinical drug and device studies from Phase 1-IV across 14 countries • 35+ years in pharmaceutical/organic chemistry drug discovery and development (co-inventor recent PDT patents) • Managing Director, SAPRO Consulting • Founder / Director Advanced Molecular Technologies • Project Director, Novotech • Previously in Pharmaceutical Chemicals Research, CSIRO • Project Manager, Pacific Clinical Research Group • Adj. Prof. La Trobe University, PhD Organic Chemistry ANU ALEXANDER BENNETT TECHNICAL ADVISOR, LIGHT DEVICES LOUISE WHITE MANUFACTURING AND QUALITY • 35+ years in R&D, manufacturing and commercialisation of scientific instrumentation incl. ISO certifications • GM Forensic Light Sources, Rofin Australia. 19 • Led Medical Light Source trial for PDT in skin cancers Peter MacCallum Cancer Centre • 35+ years in the pharmaceutical industry, 13 years in vaccine manufacturing, CSL, Partner SeerPharma • Experience in virology R&D, bacterial vaccines production, quality control and production planning • Registered auditor for APVMA Sign up at Invion’s Investor Hub to receive regular updates, provide feedback and participate in discussions: https://investors.inviongroup.com/ For more information, go to www.inviongroup.com Investor and Media enquiries: Thian Chew (Chairman & CEO) T: +61 3 9692 7222 E: investor@inviongroup.com Brendon Lau (Investor & Media Relations) M: +61 409 341 613 E: brendon.lau@inviongroup.com