BIOTRON LIMITED — Capital/Financing Update 2025

Mar 12, 2025

Appendix 3B - Proposed issue of securities

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Update Summary

Entity name

BIOTRON LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

12/3/2025

Reason for update to a previous announcement

Revised Timetable - Record date 6 March 2025, Prospectus, Entitlement and Acceptance Form sent to Eligible Shareholders 18 March 2025, Offer opens 18 March 2025, Rights trading ends 25 March 2025, New shares quoted on a deferred settlement basis 26 March 2025, Latest date to extend the Rights Issue 27 March 2025, Offer close 1 April 2025, Announce results of the Rights Issue 8 April 2025, Issue of New Shares 8 April 2025, Normal trading of New Shares expected to commence 9 April 2025

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

BIOTRON LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ABN 60086399144

1.3 ASX issuer code

BIT

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Revised Timetable - Record date 6 March 2025, Prospectus, Entitlement and Acceptance Form sent to Eligible Shareholders 18 March 2025, Offer opens 18 March 2025, Rights trading ends 25 March 2025, New shares quoted on a deferred settlement basis 26 March 2025, Latest date to extend the Rights Issue 27 March 2025, Offer close 1 April 2025, Announce results of the Rights Issue 8 April 2025, Issue of New Shares 8 April 2025, Normal trading of New Shares expected to commence 9 April 2025

1.4b Date of previous announcement to this update

10/3/2025

1.5 Date of this announcement

12/3/2025

1.6 The Proposed issue is:

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

• Renounceable

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Appendix 3B - Proposed issue of securities

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - Offer details

+Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued

ASX +security code and description

BIT : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No No

Details of +securities proposed to be issued

ASX +security code and description

BIT : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the tradable rights created under a renounceable right issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) The quantity of additional +securities For a given quantity of +securities to be issued held

1 1

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Appendix 3B - Proposed issue of securities

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What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded down to the nearest 902,382,766 whole number or fractions disregarded Offer price details for retail security holders In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.00300

Oversubscription & Scale back details Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes

Describe the limits on over-subscription The limit available under the rights issue

Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements In the event that the offer is oversubscribed, applicants will be scaled back in accordance with the allocation policy set out in the offer prospectus Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 3C - Timetable

3C.1 +Record date 6/3/2025 3C.2 Ex date 5/3/2025 3C.3 Date rights trading commences 5/3/2025 3C.4 Record date

6/3/2025

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Appendix 3B - Proposed issue of securities

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3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue 17/3/2025 3C.6 Offer closing date 26/3/2025 3C.7 Last day to extend the offer closing date 21/3/2025 3C.8 Date rights trading ends 19/3/2025 3C.9 Trading in new +securities commences on a deferred settlement basis 20/3/2025 3C.11 +Issue date and last day for entity to announce results of +pro rata issue 2/4/2025 3C.12 Date trading starts on a normal T+2 basis 3/4/2025 3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis 7/4/2025

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? Yes 3E.1a Who is the lead manager/broker? Mahe Capital Pty Ltd 3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Lead Manager fee $60,000, 1% of the total amount raise. 5% of shortfall place by Mahe in excess of the underwritten amount. 3E.2 Is the proposed offer to be underwritten? Yes 3E.2a Who are the underwriter(s)? Mahe Capital Pty Ltd 3E.2b What is the extent of the underwriting (ie the amount or proportion of the offer that is underwritten)? Underwriting amount $750,000 3E.2c What fees, commissions or other consideration are payable to them for acting as underwriter(s)? 5% of the Underwritten amount

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Appendix 3B - Proposed issue of securities

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3E.2d Please provide a summary of the significant events that could lead to the underwriting being terminated

The Underwriting Agreement contains termination events considered customary for a transaction of this nature, including:

(Indices fall): the S&P ASX 200 Index is at any time after the date of the agreement is 7% or more below its respective level as at the close of business on the Business Day prior to the date of the agreement;

(Commodities): the price of COMEX gold or NYMEX WTI crude is at any time after the date of the agreement 7% or more below its respective level as at the close of business on the Business Day prior to the date of the agreement;

(Price): the issue price is greater than the volume weighted average price of Shares calculated over three consecutive days after the date of the agreement;

Full details of the termination events will be set out in the offer prospectus.

3E.2e Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed offer? No

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer N/A

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

To continue operations while it works with C14 Consulting Group LLC, animal studies, ongoing maintenance of patents, working capital and costs of the offer

3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue?

No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

No offer of Offer Shares is to be made in countries other than Australia and New Zealand.

3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities No

3F.6 URL on the entity's website where investors can download information about the proposed issue

https://www.biotron.com.au/

3F.7 Any other information the entity wishes to provide about the proposed issue

Dispatch of shareholding statements 10 April 2025

3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? Yes

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a +disclosure document or +PDS for the +securities proposed to be issued

Appendix 3B - Proposed issue of securities

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