BIOTRON LIMITED — Capital/Financing Update 2018

Oct 14, 2018

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Level 2, 66 Hunter Street Sydney NSW 2000 Tel: (61-2) 9300 3344 Fax: (61-2) 9221 6333 E-mail: pnightingale@biotron.com.au Website: www.biotron.com.au

15 Octobe r 2018

The Mana g er Compa n ies ASX Limi t ed 20 Bridge S treet Sydney N S W 2000

(1 page by email)

Dear Mad a m

R&D Tax Incentive

Biotron Li m ited (AS X : BIT) is pleased to announce t hat is has received a n R&D Tax Incentiv e refund of $1,072,831 f or the 201 7 /18 financial year.

The R&D T ax Incenti v e is an A u stralian G o vernment p rogram un d er which c ompanies r eceive cas h refunds for 43.5% of e ligible exp e nditure on research a n d develop m ent.

The incent i ve refund results from expenditu r e on Biotron's antivira l drug deve l opment pr o grams.

Biotron's M anaging Director, Dr M ichelle M iller com m ented: "W h ilst Biotro n is fully funded for it s current act i vities, whi c h include t h e current P hase 2 HI V -1 trial (B I T225-009), this R&D cash rebat e will streng t hen the Co m pany's ca s h position and suppor t commercialisation a ct ivities."

Yours sinc e rely

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Peter J. Ni g htingale Company S ecretary

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