Review of Operations continued EXOSOME DIAGNOSTICS – EARLY DETECTION TEST The EXO-OC™ test is an exosome-based blood test in development for the early detection and screening of ovarian cancer in asymptomatic women. The test uses INOVIQ’s proprietary EXO-NET® technology to isolate exosomes and combines multiple exosomal miRNA biomarkers with plasma CA125 in an AI/Machine Learning (ML) algorithm to enable the early and accurate detection of ovarian cancer. Currently, there is no approved screening test to detect ovarian cancer early when treatment can be more effective and patient outcomes and survival improved. During the year, INOVIQ commenced an expanded clinical study to evaluate the performance of its EXO-OC™ ovarian cancer test in up to 2,000 biobanked plasma samples across different ovarian cancer stages, high risk groups and confounding diseases. The first stage of that study involved ~1,200 ovarian cancer and control samples. Sample analysis commenced in April 2026, with data analysis beginning in June 2026. Evaluation of the high-risk and confounding disease cohorts is now expected to be undertaken in a future study. Following completion of the initial analysis, INOVIQ announced on 1 July 2026 that samples from this 1,200-sample retrospective clinical validation study were unsuitable for evaluating test performance. The multi-provider study utilised samples sourced from five commercial biorepositories. Analysis identified sample degradation in a large subset of samples from one provider, together with significant variability across biorepositories arising from differing pre-analytical collection, processing and storage practices. Importantly, these findings were unrelated to the performance of the EXO-NET® technology or the EXO-OC™ test itself. While the study could not be used for clinical validation, it generated valuable insights into biomarker robustness under variable pre-analytical conditions and provided important learnings to inform future development, study design and commercialisation plans. These findings reinforce the importance of tightly controlled sample collection and processing protocols for biomarker-based diagnostics. Future EXO-OC™ studies will utilise samples collected under INOVIQ’s standardised protocols through a single provider, a prospective clinical study, or a real-world study conducted with a laboratory partner or Contract Research Organisation. EXO-OC™ has previously demonstrated 100% sensitivity for Stage I/II ovarian cancer and 77% sensitivity across all stages at 99.6% specificity in a 498-sample, single-site retrospective study (ASX: 2 June 2025). RESEARCH & DEVELOPMENT (R&D) PROGRESS R&D activities during FY26 focused on advancing the exosome program across our diagnostics and therapeutics pipeline, as well as adding to the SubB2M diagnostics data package. 8 INOVIQ Limited
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