Review of Operations Directors’ Report Chairman’s Letter CEO’s Report Financial Report Shareholder Information 5 OPERATING EXPENDITURES (CONTINUED) For the year ended 30 June 2026 $ For the year ended 30 June 2025 $ Research and Development Employee Expenditure - Staff wages and superannuation 1,406,105 1,192,047 - Other employment expenses 187,470 120,012 1,593,575 1,312,059 R&D Expenditure - External R&D 432,512 408,648 - Laboratory operations 2,383,091 1,282,858 2,815,604 1,691,506 Depreciation and Amortisation - Depreciation of building improvements 10,422 9,381 - Depreciation of right-of-use assets – AASB 16 Leases 61,242 96,788 - Depreciation of plant and equipment 188,837 144,819 260,501 250,987 Per consolidated Statement of Comprehensive Income 4,669,680 3,254,552 Sales and Marketing Employee Expenditure - Staff wages and superannuation 357,691 317,331 - Other employment expenses 14,155 28,780 371,846 346,111 Other business development related expenditure 133,968 125,208 Per consolidated Statement of Comprehensive Income 505,814 471,319 6 INCOME TAX (a) A reconciliation of income tax expense applicable to accounting loss, before income tax at the statutory income tax rate, to income tax expense at the Group’s effective income tax rate for the periods ended 30 June 2026 and 30 June 2025 is as follows: For the year ended 30 June 2026 $ For the year ended 30 June 2025 $ Accounting loss before tax (7,505,123) (6,932,280) At statutory income tax rate of 25% (2025: 25%) (1,876,281) (1,733,070) Amortisation of intangible assets 240,041 244,999 Carried forward losses and other temporary differences not considered probable 1,636,240 1,488,071 Income tax credit reported in the Statement of Comprehensive Income – – 45 Annual Report 2026
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