ANTEOTECH LTD — Capital/Financing Update 2026

Mar 2, 2026

ASX: ADO

ANTEOTECH COMMENCES COLLABORATIVE NEW IMMUNOASSAY PRODUCT DEVELOPMENT PROGRAM

BRISBANE, AUSTRALIA, 3 March 2026: AnteoTech Ltd (ASX: ADO) (‘AnteoTech’ or ‘the Company’) is pleased to advise that a new collaborative immunoassay product development work program has commenced in relation to the use of AnteoBind™ NXT activated magnetic particles in chemiluminescent immunoassays (CLIA).

Key points:

• AnteoTech has signed an agreement and commenced an Initial Work Program with a large global life sciences company to develop an activated particle product for use in the global CLIA market (see page 4 for details on the company AnteoTech is working with).

• This new product is intended to address the CLIA market’s growing need for highly sensitive, specific, reproducible, cost effective and easy to use magnetic particles. These particles are central to high throughput, fully automated CLIA platforms used in today’s clinical laboratories. Subject to successful test work, AnteoBind™ NXT could be supplied as a particle “activator” within CLIA kits used across this growing global market, valued at US$13 billion in 2024[1] .

• The development program follows proactive re-engagement with a number of large global life sciences companies and builds on AnteoTech’s longstanding relationships and technical expertise in the sector.

• AnteoTech will receive A$64,500 for services and materials under a 50:50 shared cost contract for the Initial Work Program, which is scheduled for completion by the end of FY 2026.

• Successful completion of the Initial Work Program is expected to lead towards a joint product development agreement in relation to CLIA market entry.

• In-house testing of magnetic particles using AnteoBind™ NXT, compared to Tosyl chemistry (the most widely used single step coupling chemistry in CLIA), has demonstrated significant performance and cost benefits, including up to six times lower antibody usage (Capture antibodies can account for up to 35% of total assay costs.)

• A technical white paper outlining these test results is being finalised for release.

• This work supports AnteoTech’s strategy of taking AnteoBind™ NXT from a product improvement additive in the Life Sciences sector to a core ingredient in performance leading, low-cost products in the sector, underpinning additional sales growth and value creation.

MERRILL GRAY, MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER OF ANTEOTECH COMMENTED:

“Our Life Sciences update in late December 2025 outlined the progress being made by the Life Sciences Business Unit against the June 2025 Strategic Review. It highlighted our latest order from the Serum Institute of India (SII), new sales of AnteoBind™ NXT and confirmed that a record number of AnteoBind™ NXT evaluations are currently underway.

1 Source: Markets and Markets May 2025 In Vitro Diagnostic Market: Growth, Size, Share and Trends and Confidential Pharmaceutical company

AnteoTech Ltd

1

T: (07) 3219 0085| E: investors@anteotech.com

We also foreshadowed the signing of this Initial Work Program agreement and the commencement of this collaborative CLIA product development work. The work program includes defined technical and commercial milestones which, if achieved, are intended to progress the parties toward the next stage of market entry collaboration.

This agreement reflects the strength of our large global life sciences company re-engagement strategy and supports our objective of moving AnteoBind™ NXT further up the value chain. We look forward to advancing this relationship and progressing a new product opportunity that has the potential to support sales growth in additional immunoassay markets.”

Overview of the In-Vitro Diagnostics (IVD) Market, CLIA Market and the Role of Activated Particles

Figure 1 below outlines the segment of the IVD and specific IVD immunoassay markets in which AnteoTech currently participates and is seeking to expand into. The global IVD Immunoassay market was valued at approximately US$56 billion in 2024. AnteoTech currently participates in the ‘Lateral Flow’ and ‘Other Plarforms’ segments of the market, estimated to be valued at approximately US$15.5 billion in 2024 (28% of the immunoassays market).This program relates specifically to new product development by AnteoTech in the CLIA immunoassay market.

The CLIA market is estimated to be valued at approximately US$13 billion in 2024, representing 23% of the overall IVD immunoassays market, and is forecast to grow at approximately 6% CAGR through to 2029. Entry into this market would close to double the markets AnteoTech participates in.

All figures in US$ billions as at 2024

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Figure 1 : Overview of the Global In Vitro Diagnostics (IVD) Market and Immunoassay Segments

CLIAs have become a backbone technology in clinical diagnostics for detection and quantification of hormones, infectious disease markers, cardiac biomarkers and tumour markers. Their high sensitivity, broad dynamic range and compatibility with automated platforms make them well suited to applications requiring rapid, accurate and reproducible detection of proteins, antibodies and other biological molecules.

Figure 2 illustrates the fundamental CLIA workflow, which begins with a capture antibody immobilised onto a magnetic particle. Historically, this immobilisation has commonly been achieved using EDC/NHS chemistry. However, this approach presents several limitations.

AnteoTech Ltd T: (07) 3219 0085| E: investors@anteotech.com

Antibodies can attach in random orientations, with binding sites facing the particle surface and therefore unavailable to capture the target antigen. This can reduce assay sensitivity, particularly for low abundance analytes. EDC/NHS coupling can be prone to batch-to-batch variability unless extensive optimisation and tightly controlled workflows are implemented.

To address some of these limitations, Tosyl-activated particles were introduced to the market. While offering an alternative coupling mechanism, this process also presents challenges. Coupling of capture antibodies to Tosylated (Tosyl activated) particles often requires extended incubation periods, typically overnight, which can compromise antibody activity. As with EDC/NHS chemistry, antibodies randomly attach to the particle surface, meaning a proportion are oriented in a way that prevents effective antigen binding. This results in inefficient antibody utilisation, reduced assay performance and increased reagent costs.

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Figure 2.: CLIA Analysis Steps.[2]

Source: Company data based, January 2026 © AnteoTech Ltd.

Antibodies are “Y” shaped molecules, with the two “arms” responsible for binding target antigens, as shown in Figure 3. Both EDC/NHS and Tosyl chemistries bind random parts of the “Y” and only those that are bound in a specific way can contribute to the assay.

AnteoBind ™ NXT preferentially binds antibodies in a manner that preserves the accessibility of the antigen-binding arms. This more favourable orientation increases the proportion of functionally active antibodies on the particle surface. Consequently, up to six times less capture antibody may be required to achieve equivalent assay sensitivity, delivering a substantial reduction in total test cost while maintaining performance.

2 Particles can also be referred to as Beads

AnteoTech Ltd

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Figure 3: An Illustration of Antibody Components and Structure showing how AnteoBind™ NXT coated surfaces allow for better orientation of Antibodies.

Source: Company data based, January 2026 © AnteoTech Ltd.

AnteoTech’s objective through the successful completion of this Initial Work Program is for AnteoBind™ NXT activated magnetic particles to achieve performance levels that will lead to broad adoption within the CLIA market on automated immunoassay platforms.

This contract supports this objective by formally initiating a collaboration with a global particle manufacturing partner that has a significant, well established customer base and distribution network reach.

New Product Development with Large Global Life Sciences Partners

In its ASX announcement dated 29 December 2025, the Company outlined its program of active reengagement with large global life sciences companies. This agreement has resulted from those discussions and relates to joint product development and associated commercialisation of a combined product, or alternatively, direct supply of AnteoBind™ NXT to the life sciences company.

Performance enhancement and cost reduction are critical when it comes to CLIA. Researchers require ease of use, greater sensitivity and specificity, and improved overall assay performance, while laboratory managers and procurement teams prioritise cost efficiencies.

This agreement aligns with AnteoTech’s strategy to move up the value chain, transitioning from a performance additive supplier to a provider of key or core ingredients in ready-to-use, fully integrated products across additional immunoassay markets beyond lateral flow, thereby capturing greater commercial value for shareholders.

Details of the company AnteoTech is working with (Counterparty)

AnteoTech confirms that it does not consider the identity of the counterparty to be information that a reasonable person would expect to have a material effect on the price or value of the entity’s securities.

AnteoTech confirms that this announcement contains all material information relevant to assessing the impact of the contract on the price or value of the entity’s securities and is not misleading by omission.

The counterparty is a large global Life Sciences company with good standing and creditworthiness.

This announcement has been authorised for release by the Board of AnteoTech Ltd.

- ENDS –

AnteoTech Ltd T: (07) 3219 0085| E: investors@anteotech.com

Media and investor enquiries : on +61 7 3219 0085 or investors@anteotech.com

Company and Partnering enquiries : Merrill Gray, MD/CEO, on + 61 7 3219 0085

For further information, please check our website www.anteotech.com.

About AnteoTech - (ASX: ADO)

AnteoTech is a supplier of advanced material solutions to the battery materials and life sciences markets. We leverage our market leading binding chemistry platform technology to develop and commercialise solutions for our global customer base. From our patented cross linker and binder product Anteo X™ to our next-generation high silicon anode formulations, Ultranode™, our Advanced Battery Technology business is applying its world-leading engineering expertise to address the growing demand for high performance, low cost, sustainable materials within the global battery market. Our Life Sciences business supplies advanced activation materials through our AnteoBind™ suite of products to leading developers and manufacturers of vaccines and diagnostic tests. Our products deliver more sensitive and reproducible results and on incorporation in ‘point of care’ tests, enable faster, more reliable and accurate test results wherever they are needed.

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Forward Looking Statements

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AnteoTech Ltd T: (07) 3219 0085| E: investors@anteotech.com