Review of Operations continued CORPORATE UPDATE BOARD CHANGES AND EXPANSION David Williams was appointed Non-Executive Director and Chairman of INOVIQ on 29 November 2023. David Williams B.Ec(Hons), M.Ec, FAICD is an experienced Director and investment banker with a track record in business development, mergers and acquisitions and capital raising. He has experience advising ASX-listed companies in the food, medical device and pharmaceutical sectors. Mr Williams is currently Chairman of PolyNovo (ASX:PNV), Chairman of RMA Global (ASX:RMY) and is Managing Director of corporate advisory firm Kidder Williams. STRENGTHENED CAPABILITIES TO TAKE ADVANTAGE OF HIGH-GROWTH EXOSOME MARKET During the year, INOVIQ invested in its people across exosome science, product development and commercial, as well as in state-of-the-art equipment to support its in-house and partnered exosome-based product development for research, diagnostic and therapeutic applications. CAPITAL RAISE In June 2024, INOVIQ completed a placement to institutional and sophisticated investors, raising $7.0 million (before costs) via 14 million new fully paid ordinary shares in the Company at $0.50 per Share, with one free quoted option for every two new Shares issued under the Placement with an exercise price of $1.00 and two-year expiry. The pricing of the Placement represented an 11.5% discount to the last traded market price. $0.25m (500,000 Shares) of the Placement (and 250,000 attaching Placement Options), representing the Board’s participation in the capital raise, are subject to shareholder approval at an extraordinary general meeting to be held on 21 August 2024. On 5 July 2024 INOVIQ announced the successful completion of the share purchase plan (SPP), with applications totalling $7.293 million, exceeding the initial target of $2m. INOVIQ Directors exercised discretion to accept allocations to the maximum capacity of A$2.379m and scale back applications pro-rata. The SPP also provided investors with one free quoted option for every two new Shares issued at an exercise price of $1.00 expiring on 8 July 2026. INVESTOR PROMOTION AND AWARENESS INOVIQ continued to drive awareness of its investment proposition, product pipeline, progress and plans with investors and media through the period. INOVIQ presented at multiple investor conferences and numerous media outlets reported on INOVIQ news, see Presentation tab www.inoviq. com/site/investors/presentations and Media tab www.inoviq.com/site/media/inoviq-in-the-news. 14 INOVIQ Limited
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