Review of Operations Directors’ Report Chairman’s Letter CEO’s Report Financial Report Shareholder Information CHIEF SCIENTIFIC OFFICER DR REBECCA LIM BSc (Hons), PhD (appointed 12 January 2026) Dr Lim, BSc (Hons), PhD, is an internationally recognised biotechnology executive with more than 20 years of experience spanning translational research, clinical development and commercialisation in cell and gene therapy, regenerative medicine, and extracellular vesicle (EV) technologies. She has held senior leadership roles across Asia-Pacific and the United States, most recently as Director of Strategic Alliances at CTMC, a joint venture contract development and manufacturing organisation (CDMO) between MD Anderson Cancer Centre and National Resilience. During her tenure, she led cross functional teams delivering seven advanced therapy programs from preclinical through IND clearance and GMP manufacturing. Previous roles include SVP Scientific Affairs at Prescient Therapeutics (ASX:PTX), Scientific Director of Cell Therapies and Regenerative Medicine at the Monash Health Translation Precinct, and A/Prof Obstetrics & Gynaecology at Monash University. REVIEW OF OPERATIONS Information on the operations of the Group during the financial year and up to the date of this report is set out separately in the Annual Report under ‘Review of Operations’. MATERIAL BUSINESS RISKS AND INHERENT RISKS OF INVESTMENT IN BIOTECHNOLOGY COMPANIES There are several inherent risk factors both specific to the development and commercialisation of medical devices, including diagnostics to a marketable stage which may impact the future operating, financial performance and viability of The Group. The material business risks that are likely to influence the prospects of the Group include: Risk Explanation Product Development There are many risks inherent in the development of diagnostic and therapeutic products, including that projects can be delayed or fail to meet outcomes or demonstrate any clinical benefit, or research may cease to be viable for a range of scientific, regulatory and commercial reasons. INOVIQ’s diagnostic and therapeutic pipeline will require further research, development and future clinical studies, which carry the risk of technology transfer failure, clinical validation failure and other potential adverse outcomes. Regulatory review and approval may be required to conduct clinical studies in some jurisdictions, and there is no assurance that any regulatory or review body will allow INOVIQ to undertake such studies or that approvals to conduct such studies will be granted in a timely manner. Any delays in securing relevant approvals from regulatory or review bodies may result in substantial delays and/or increases in costs. Further INOVIQ risks delay in achieving key milestones including but not limited to the completion of clinical studies. Material delays risk adverse impacts on the company including the timing of results, product launch timelines and partnering opportunities. 19 Annual Report 2026
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