BIOTRON LIMITED — Capital/Financing Update 2025

Dec 18, 2025

==> picture [227 x 35] intentionally omitted <==

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

19 December 2025

The Manager Companies ASX Limited 20 Bridge Street Sydney NSW 2000

(2 pages by email)

Dear Sir / Madam

Completion of the Entitlement Offer

Biotron Limited (ASX: BIT) ( Biotron or the Company ) is pleased to announce that the nonrenounceable rights issue announced on 15 October 2025 has closed, raising $645,861 as set out in the table below:

	Funds raised	Fully paid	Options ($0.02 expiring
		ordinaryshares	24 November 2027)
Entitlement applied for	329,164	109,720,551	54,860,320
Shortfall applied for	316,697	105,566,200	52,783,025
Total	$645,861	215,286,751	107,643,345

The Options will be quoted under the ASX code BITO.

An appendix 2A for the above securities accompanies this announcement.

As set out in the Prospectus for the offer, The Company has a commitment from Peak Asset Management to subscribe for any shortfall under the Rights Issue. The current shortfall is $878,733 The last date to issue shortfall shares is 12 March 2026.

The proceeds from the rights issue will be used to:

• Progress toxicology studies for HBV drug;

• Progress scale-up, process development and production of a small kg scale quantity of Biotron’s HBV drug;

• Patent costs relating to the Biotron portfolio;

• Ongoing R&D costs associated with Biotron antiviral programs advance the Hepatitis B virus program;

• Commercialisation activities relating to the entire portfolio; and

• for working capital and costs of the offer.

.

This announcement has been authorised for release to the market by the Board of Directors.

Yours sincerely

==> picture [104 x 54] intentionally omitted <==

Marcelo Mora Company Secretary

pjn12825

Enquiries:

Dr Michelle Miller Managing Director Biotron Limited +61 (02) 9300 3344

2