BIO-GENE TECHNOLOGY LTD — Capital/Financing Update 2026

Mar 15, 2026

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ASX ANNOUNCEMENT
16 March 2026
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Bio-Gene, Sumitomo Corporation and Nakashima Trading Co. to launch Qcide ® in Japan for use against household nuisance insects

Highlights

• Major Japanese trading and manufacturing companies Sumitomo Corporation and Nakashima Trading Co. to develop and market a range of insecticide products containing Bio-Gene’s 100% natural Qcide®

• Targeting Japan’s household nuisance insect pest market – expected launch late 2026

• Term sheet signed and definitive agreements expected by late April/early May 2026

• Bio-Gene to supply Qcide oil produced in Queensland

• Sumitomo Corporation to coordinate the ordering, trade financing, transportation, and import approval for the supply of Qcide

• Nakashima Trading Co. to undertake formulation, packaging, promotion and supply of product range to retail outlets

• The home insecticide market in Japan is currently estimated at US$1B in sales annually

Melbourne, Australia: Bio-Gene Technology Limited (ASX:BGT or ‘Bio-Gene’ or ‘the Company’) , an Australian company developing the next generation of novel insecticides derived from nature, is pleased to announce that it has entered into a non-binding term sheet with Sumitomo Corporation (Sumitomo) and Nakashima Trading Co. Ltd (Nakashima) to develop and market a range of insecticide products containing Qcide for Japan’s household nuisance insect pest market, targeting launch in late 2026. Definitive binding agreements are expected to be signed by late April/early May 2026.

Qcide oil is Bio-Gene’s novel 100% natural OMRI Listed ®[1] insecticidal active extracted using steam distillation from the biomass harvested from Bio-Gene’s plantation of Eucalyptus cloeziana (Gympie messmate) located in Queensland.

Terms of the planned transaction include:

• Bio-Gene will produce Qcide oil in Queensland for supply to Nakashima via Sumitomo. Bio-Gene will also license relevant intellectual property for use by Sumitomo and Nakashima in Japan;

• Sumitomo will liaise with Bio-Gene and Nakashima to coordinate the ordering, trade financing, transportation, and import approval for the supply of Qcide; and

1 Qcide has been approved by the Organic Materials Review Institute ( OMRI ) in the USA for listing as a Botanical Pesticide under the USDA NOP in the OMRI Products List. OMRI listing enables Bio-Gene to use the OMRI Listed® seal on Qcide marketing and technical materials, providing formal recognition that it is compatible for use in certified organic production. See Bio-Gene’s ASX announcement dated 14 November 2025 for further details.

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• Nakashima will undertake evaluation of prototype formulations, arrange further efficacy testing with BGT against certain insect species of interest in Japan and then formulate, package, promote and supply the Qcide oil-containing range of products for sale to consumers via various sales channels, including home improvement centres, pharmacies, supermarkets and online via e-commerce.

The household nuisance insect pest market in Japan

In Japan, insecticidal products for household use against a defined list of household nuisance insect pests[2] (including, for example, ants, cockroaches, flies and termites etc. in domestic and peri-domestic settings) that are intended solely for non-agricultural and non-public health uses may be supplied to consumers subject to compliance with general chemical safety and labelling requirements.

For this category, certain household insecticide products may be supplied to consumers without a formal government registration process equivalent to agricultural or public-health products, provided claims are appropriately constrained, i.e., nuisance or amenity pests and not crop protection or disease-prevention claims. In addition, if products satisfy the requirements of the Household Insecticide Council ( Seibokyo ), which is a Japanese industry body that administers voluntary standards and a label mark scheme, the product label may include the ‘Seibokyo’ logo.

Products in this category are not intended for use by consumers in Japan on plants or food crops or for public health/disease vector control claims. Any such use must be approved under the relevant regulatory pathways administered by the Ministry of Agriculture, Forestry and Fisheries ( MAFF ) and/or the Ministry of Health, Labour and Welfare ( MHLW ).

Products directed at household nuisance insect pests in Japan are typically formulated as liquids, aerosols, powders and include a range of other formulations, including emanators.

The home insecticide market in Japan is currently estimated at US$1B in sales annually[3] . Synthetic insecticides dominate, with around 68.5% market share in 2024, however the market for natural insecticides has been growing rapidly.

There has been a shift in consumers’ product preferences in recent times, increasingly favouring products that are safer (e.g. low toxicity, suitable for use around children and pets), eco-friendly (e.g. natural or bio-based active ingredients) and more convenient (e.g. longlasting mothproofing products, automatic dispensers).

2 The term ‘household nuisance insect pests’ refers to domestic or peri-domestic pests targeted for amenity or comfort (including, for example, biting or stinging or nuisance or uncleanliness) and may include wood pests such as termites. This category excludes agricultural or any crop uses and any public health or disease prevention claims.

3 Japan Home Insecticides Market Forecast 2022 – 2028, Inkwood Research (2021)

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Consumer retail sales channels in Japan for household use insecticides

Home insecticide sprays are sold through mainstream retail outlets and ensure broad availability of pest control products across Japan, including:

• Home improvement centres (DIY stores) and garden centres

• Pharmacies

• Supermarkets and general merchandise stores

• E-commerce, including online marketplaces such as Amazon Japan, Rakuten, and Yahoo! Shopping

Tim Grogan, Managing Director & Chief Executive Officer of Bio-Gene, said:

“We are very pleased to be working with Sumitomo Corporation and Nakashima Trading Co. to open up this new category of opportunity for Qcide in Japan.

“There is a very clear fit, with Qcide’s 100% natural providence and being extracted from Eucalyptus in Australia. Consumers in Japan want access to a natural, effective insecticide product for use in their homes.

“This household nuisance insect pest consumer product category has a faster path to market than a number of our other product development programs and we are focused on scaling up our tree plantation and Qcide oil extraction to supply to our partners in Japan.”

Mr Yoshiyuki Nakashima, President of Nakashima Trading Co. Ltd, said:

“After supplying products to this market for many years, I understand that Japanese consumers now have a very strong interest in the use of natural products to control household nuisance insect pests. Qcide is a very exciting fit in this market as it is a 100% natural Australian product that comes from Eucalyptus and is extracted without any chemical processing. Also, being approved by the Organic Materials Review Institute in the USA for OMRI Listing as a Botanical Pesticide, having multiple modes of action, makes it even more interesting in our market.

“We are looking forward to working with Bio-Gene and Sumitomo Corporation to launch this new product and being able to provide it to households in Japan.”

Qcide Background and Development Context

Qcide oil is a novel insecticide containing tasmanone and other natural compounds, extracted via steam distillation from the biomass harvested from Bio-Gene’s plantation of Eucalyptus cloeziana (Gympie messmate) located in Queensland. Qcide has been approved by the Organic Materials Review Institute ( OMRI ) in the USA for listing as a Botanical Pesticide under the USDA NOP in the OMRI Products List.

Bio-Gene is developing Qcide to address the growing global demand for natural insecticides in the areas of public health, crop protection, and in consumer home and garden applications.

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16 March 2026
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The Company’s business model involves entering licensing arrangements with commercial partners internationally to formulate and develop insecticidal products that contain Qcide or the Company’s other insecticidal active, Flavocide ® . Bio-Gene’s business model also includes the supply of Qcide and Flavocide to these partners in significant quantities under commercial supply agreements.

Bio-Gene will make a further announcement once definitive binding agreements are signed, which is planned for late April/early May 2026.

Approved for release on ASX by Bio-Gene Board of Directors.

- ENDS -

For further information, please contact:

Bio-Gene Technology Limited: Matthew Wright E: bgt.info@bio-gene.com.au NWR Communications E: matt@nwrcommunications.com.au M: 0451 896 420

About Bio-Gene Technology Limited

Bio-Gene is an Australian company developing novel bio-insecticides to address the global challenges of insecticide resistance and demand for natural insecticides. Its unique products are based on a naturally occurring class of compounds proven to overcome insecticide resistance to control pests with minimal impact on human health and the environment.

Bio-Gene’s products have multiple applications across crop protection, grain storage, public health, animal health and consumer uses. They provide new options derived from nature to meet market demand for effective and safe pest management solutions.

www.bio-gene.com.au

Flavocide® and Qcide® are registered trademarks of Bio-Gene Technology Limited.

About Sumitomo Corporation

Sumitomo Corporation is a global integrated trading and investment company headquartered in Tokyo. Since its establishment in 1919, the company has expanded its business across diverse industries, emphasising reliability and sustainability. With its global network and based on trust from companies in various industries and from consumers, Sumitomo Corporation engages in multifaceted business activities by making the most of its Integrated Corporate Strength. These business activities include sales of a variety of products and

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services, import and export, trilateral trade, and domestic and international business investment

Sumitomo Corporation is a leading Fortune 500 global trading and business investment company with 109 locations in overseas countries/regions and 20 locations in Japan. The entire Sumitomo Corporation Group consists of approximately 900 companies and more than 70,000 personnel. It conducts commodity transactions in all industries utilising worldwide networks, provides related customers with various financing, serves as an organiser and a coordinator for various projects, and invests in companies to promote greater growth potential.

www.sumitomocorp.com/en/global

About Nakashima Trading Co. Ltd.

Nakashima Trading Co., Ltd. (also referred to as Nakashima Shoji or Toyochu ) was founded in 1965 and is a Japan-based manufacturer and wholesaler of gardening, agriculture and horticultural materials. Nakashima Trading is headquartered in Toyoake near Nagoya and operates four plants in the prefectures of Aichi, Shizuoka, Hiroshima and Ibaraki.

Nakashima Trading Co., Ltd supplies products to a wide range of retail outlets, including home improvement centres, pharmacies, supermarkets and general merchandise stores. It prioritises environmentally friendly products and utilises advanced distribution systems for efficient, timely shipping to retailers.

www.toyochukk.co.jp

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