BIOTRON LIMITED — Capital/Financing Update 2025

Feb 20, 2025

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Dear Shareholder,

Biotron Share Purchase Plan

Biotron Limited ( Biotron or the Company ) announces that it will be offering existing eligible shareholders the opportunity to participate in a Share Purchase Plan ( SPP ).

The SPP enables Eligible Shareholders to acquire up to $30,000 worth of new Biotron shares at an issue price of $0.01 per share, being no more than the closing price and the volume-weighted average market price of the Company's shares for the five business days on which the Company’s shares traded preceding 20 February 2025.

The SPP is available to shareholders with a registered address in either Australia or New Zealand (and who otherwise meet certain other conditions as set out in the SPP Offer Booklet) ( Eligible Shareholders ) on the record date of 20 February 2025.

Eligible Shareholders wishing to participate in the SPP should carefully read the SPP Offer Booklet, a copy of which is available online at www.computersharecas.com.au/BIT.

Important Information

The offer of SPP Shares is made in accordance with ASIC’s (Share and Interest Purchase Plans) Instrument 2019/547 which grants relief from the requirement to issue a disclosure document for the SPP.

The minimum raising that will be accepted under the SPP is 50,000,000 shares to raise $500,000. In the event that this minimum subscription amount is not achieved, application monies will be refunded in full (without interest) and the Directors will seek to appoint a Voluntary Administrator or wind the Company up whilst solvent.

SPP Timetable

Record Date forparticipation in the SPP	7:00pm Thursday20 February2025
Announcement date	Friday21 February2025
SPP Offer and Acceptance Form dispatched shareholders	Tuesday25 February2025
SPP Offer opens	Tuesday25 February2025
SPP Offer closes	5:00pm, Wednesday12 March 2025
Announcement results of SPP	Friday19 March 2025
Issue of SPP shares	Friday19 March 2025

The Directors of Biotron Limited (the 'Company') advise that the Company offers Eligible Shareholders (shareholders with a registered address in either Australia or New Zealand on the Record Date) the opportunity to subscribe for up to $30,000 per shareholder of new fully paid ordinary shares in the Company under an SPP at a subscription price of $0.01 per share.

The maximum number of shares that will be issued under the SPP is 270,714,829. In the event that the SPP is oversubscribed, applicants will be scaled back on a pro-rata basis in a ratio proportionate with the applicant’s shareholding at the Record Date.

The minimum raising that will be accepted under the SPP is 50,000,000 shares to raise $500,000. In the event that this minimum subscription amount is not achieved, application monies will be refunded in full (without interest) and the Directors will seek to appoint a Voluntary Administrator or wind the Company up whilst solvent.

Why is the Company raising additional funds at this time?

1. The primary purpose of the additional funds is to support the Company’s operations while it works with the US based C14 Consulting Group LLC ( C14 ) to achieve strategic partnership(s) for its portfolio of antiviral programs including its lead clinical asset BIT225. Since retaining the services of C14 in late 2024, progress has been made in engaging with a broad cross section of international pharmaceutical and specialist biotechnology companies with interests in treatment of infectious diseases, several of which are evaluating Biotron’s portfolio. Partnerships in the biopharmaceutical industry take time and are dependent on good science, addressing clear unmet medical needs, with programs supported by rigorous data. Biotron’s core antiviral programs have all these key elements. However, the pathway to partnerships is not a fast one and it is imperative that the Company have funding to ensure it can support the evaluation and negotiation process through coming months.

2. The Company’s early stage programs, in particular Hepatitis B virus ( HBV ), continue to show promise. Funds will be used to test its lead HBV compound in an animal model of HBV disease.

3. The key to establishment of partnerships is the expansion and continued strengthening of Biotron’s intellectual property portfolio. Strong, defensible, international patents are essential to attract partners and to ensure a competitive advantage for the Company’s products in the marketplace. Funds will be used to ensure the ongoing maintenance of existing patents, as well as to support the filing of new patents that are expected to progress to International PCT applications in coming months.

Directors will be participating in the SPP in part or in full. While we encourage Eligible Shareholders to consider this opportunity, please read the attached offer documentation carefully and be aware of the risks of this investment.

Full SPP details are available online at www.computersharecas.com.au/BIT.

For further information, please contact Michelle Miller, Managing Director, on (61) 0412 313 329 or Peter Nightingale, Company Secretary, on (61-2) 9300 3344.

Yours sincerely

Michael J. Hoy Chairman

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