Review of Operations Directors’ Report Chairman’s Letter CEO’s Report Financial Report Shareholder Information 10 INTANGIBLE ASSETS AND GOODWILL (CONTINUED) 2026 Movement Patents $ Trademarks $ hTERT $ Molecular NETS $ SubB2M $ Total $ Balance at the beginning of the year 155,083 40,287 192,154 7,141,265 1,150,000 8,678,789 Additions – – – – – – Write-offs – – – – – – Amortisation (15,240) – (54,783) (890,142) – (960,165) Impairment – – – – – – Effect of FX translation 192 – – – – 192 Balance at the end of the year 140,035 40,287 137,371 6,251,123 1,150,000 7,718,816 2025 Movement Patents $ Trademarks $ hTERT $ Molecular NETS $ SubB2M $ Total $ Balance at the beginning of the year 233,658 40,287 246,937 8,031,407 1,150,000 9,702,289 Additions – – – – – – Write-offs (60,178) – – – – (60,178) Amortisation (35,070) – (54,783) (890,142) – (979,995) Impairment – – – – – – Effect of FX translation 16,673 – – – – 16,673 Balance at the end of the year 155,083 40,287 192,154 7,141,265 1,150,000 8,678,789 Impairment Testing and Key Assumptions The Group’s intangible asset and goodwill impairment testing policies are described in Note 2 (xi) and (xii). Discounted cash flow models (hTERT) or replacement cost assessments are produced when testing assets for impairment. The DCF model is based upon management estimates of future revenues, corporate tax rates, growth rates as well as discount rates. Forecasted gross margins from product sales anticipates growth from market penetration and the evolution of products. hTERT - the recoverable amount of the hTERT asset was determined using a Value In Use methodology that involved the estimating of future cash flows over a 3-year period. A Value In Use methodology was appropriate as the revenues and costs could be reliably estimated. Management allowed for sales estimates over a 3-year period, declining by 10% each year from FY28-FY29. No impairment of the hTERT asset was recognised in the current financial year. A summary of the parameters used to value hTERT and impairment test these assets is provided in the following table: Intangible Asset Valuation Method Years of Cash Flow Projection* Discount Rate % hTERT Value In Use 3 20% * Forecast revenue includes a gradual decline in revenues from years 2-3. Product revenue is supported by patents in key markets during this period. Molecular NETs - management determined the recoverable amount of Molecular NETs technology in the current year using the fair value less cost of disposal methodology (determined with reference to replacement cost method due to the inability to reliably estimate future cash flows as the technology is still undergoing development). The cost approach reflects the amount that would be required currently to replace the service capacity of an asset less costs of disposal estimate at 5%. Management consequently determined that no impairment exists. 49 Annual Report 2026
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