Immuron Ltd — Investor Presentation 2024

Jul 30, 2024

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Immuron CEO, Steven Lydeamore to present at TechKnow Invest Roadshow

Melbourne, Australia, July 31, 2024: Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian based and globally integrated biopharmaceutical company is pleased to advise our Chief Executive Officer, Steven Lydeamore will be presenting at TechKnow Invest Roadshow on Wednesday 31 July 2024, 12:30pm AEST at Rydges, Melbourne, Australia.

This event will be live-streamed. Free registration to watch online is available via this link: www.techknowinvestroadshow.com.au/livestreamingregistration. A copy of the presentation being made is included below.

This release has been authorised by the directors of Immuron Limited.

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COMPANY CONTACT:

Steven Lydeamore Chief Executive Officer steve@immuron.com

About Immuron

Immuron Limited (ASX: IMC, NASDAQ: IMRN), is an Australian biopharmaceutical company focused on developing and commercializing orally delivered targeted polyclonal antibodies for the treatment of infectious diseases.

About Travelan®

Travelan® is an orally administered passive immunotherapy that prophylactically reduces the likelihood of contracting travelers’ diarrhea, a digestive tract disorder that is commonly caused by pathogenic bacteria and the toxins they produce. Travelan® is a highly purified tabletized preparation of hyper immune bovine antibodies and other factors, which when taken with meals bind to diarrhea-causing bacteria and prevent colonization and the pathology associated with travelers’ diarrhea. In Australia, Travelan® is a listed medicine on the Australian Register for Therapeutic Goods (AUST L 106709) and is indicated to reduce the risk of Travelers’ Diarrhea, reduce the risk of minor gastro-intestinal disorders and is antimicrobial. In Canada, Travelan® is a licensed natural health product (NPN 80046016) and is indicated to reduce the risk of Travelers’ Diarrhea. In the U.S., Travelan® is sold as a dietary supplement for digestive tract protection.

Travelers’ diarrhea (TD)

TD is generally defined as the passage of ≥ 3 unformed stools per 24 hours plus at least one additional symptom (such as nausea, vomiting, abdominal cramps, fever, blood/mucus in the stools, or fecal urgency) that develop while abroad or within 10 days of returning from any resource-limited destinations (Leung et al., 2006). Diarrhea continues to be the most frequent health problem among travelers to destinations in lower- and middle-income regions (Steffen, 2017). Deployed US military personnel, essentially representing a long-term traveller population, are particularly affected given their population dynamics and the context in which they seek care and treatment (Connor et al., 2012). Diarrhea is the leading infectious disease threat to the overall health and preparedness of deployed US armed forces, with diarrheagenic E. coli, Campylobacter spp., and Shigella spp. among the most commonly reported etiologies (Riddle et al., 2006).

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Immuron Platform Technology

Immuron’s proprietary technology is based on polyclonal immunoglobulins (IgG) derived from engineered hyper-immune bovine colostrum. Immuron has the capability of producing highly specific immunoglobulins to any enteric pathogen and our products are orally active. Bovine IgG can withstand the acidic environment of the stomach and is resistant to proteolysis by the digestive enzymes found in the Gastrointestinal (GI) tract. Bovine IgG also possesses this unique ability to remain active in the human GI tract delivering its full benefits directly to the bacteria found there. The underlying nature of Immuron’s platform technology enables the development of medicines across a large range of infectious diseases. The platform can be used to block viruses or bacteria at mucosal surfaces such as the Gastrointestinal tract and neutralize the toxins they produce.

IMM-124E (Travelan®)

IMM-124E was developed using Immuron’s platform technology. IMM-124E is produced from the colostrum of birthing cattle that have been immunised during pregnancy with a vaccine containing the outer antigens of multiple human derived ETEC. A total of 13 ETEC strains are used in the vaccine to produce high levels of antibodies against selected surface antigens from the most common strains of ETEC.

The resultant hyperimmune colostrum IMM-124E from ETEC vaccinated cows contains significant levels of polyclonal antibodies specific for ETEC antigens LPS, CFA-I and Flagellin (Sears et al., 2017).

The antibodies produced in IMM-124E have been found to have a stronger binding and neutralizing activity (than the antibodies of unvaccinated cattle) against a wide range of LPS antigens including both the variable O-polysaccharide region and the preserved oligosaccharide core ‘R’ region of LPS from the 13 serotypes used in the ETEC vaccine.

IMM-124E is manufactured into a tablet form referred to as Travelan®.

IMM-529

Immuron is developing IMM-529 as an adjunctive therapy in combination with standard of care antibiotics for the prevention and/or treatment of recurrent Clostridioides difficile infection (CDI). IMM-529 antibodies targeting Clostridioides difficile (C. diff) may help to clear CDI infection and promote a quicker re-establishment of normal gut flora, providing an attractive oral preventative for recurrent CDI.

Immuron is collaborating with Dr. Dena Lyras and her team at Monash University, Australia to develop vaccines to produce bovine colostrum-derived antibodies. Dairy cows were immunised to generate hyperimmune bovine colostrum (HBC) that contains antibodies targeting three essential C. diff virulence components. IMM-529 targets Toxin B (TcB), the spores and the surface layer proteins of the vegetative cells.

This unique 3-target approach has yielded promising results in pre-clinical infection and relapse models, including (1) Prevention of primary disease (80% P =0.0052); (2) Protection of disease recurrence (67%, P <0.01) and (3) Treatment of primary disease (78.6%, P<0.0001; TcB HBC). Importantly IMM-529 antibodies cross-react with whole cell lysates of many different human strains of C. diff including hypervirulent strains.

To our knowledge, IMM-529 is, to date, the only investigational drug that has shown therapeutic potential in all three phases of the disease (Hutton et al., 2017).

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References

Connor P, Porter CK, Swierczewski B and Riddle MS. Diarrhea during military deployment: current concepts and future directions. Curr Opin Infect Dis. 25(5): 546-54; 2012.

Hutton, M.L., Cunningham, B.A., Mackin, K.E. et al. Bovine antibodies targeting primary and recurrent Clostridium difficile disease are a potent antibiotic alternative. Sci Rep 7, 3665 (2017). https://doi.org/10.1038/s41598-017-03982-5

Leung AK, Robson WL, Davies HD. Travelers’ diarrhea. Adv Ther. Jul-Aug; 23(4): 519-27; 2006

Otto W, Najnigier B, Stelmasiak T and Robins-Browne RM. Randomized control trials using a tablet formulation of hyperimmune bovine colostrum to prevent diarrhea caused by enterotoxigenic Escherichia coli in volunteers Scandinavian Journal of Gastroenterology 46: 862– 868; 2011.

Riddle MS, Sanders JW, Putnam SD, and Tribble DR. Incidence, etiology, and impact of diarrhea among long-term travelers’ (US military and similar populations): A systematic review. American Journal of Tropical Medicine and Hygiene. 74(5): 891-900; 2006.

Sears KT, Tennant SM, Reymann MK, Simon R, Konstantopolos N, Blackwelder WC, Barry EM and Pasetti MF. Bioactive Immune Components of Anti-Diarrheagenic Enterotoxigenic Escherichia coli Hyperimmune Bovine Colostrum products. Clinical and Vaccine Immunology. 24 (8) 1-14; 2017.

Steffen R. Epidemiology of travelers' diarrhea. J Travel Med. 24(suppl_1): S2-S5; 2017.

For more information visit: https://www.immuron.com.au/ and https://www.travelan.com

Subscribe for Immuron News: Here

FORWARD-LOOKING STATEMENTS:

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

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NASDAQ: IMRN ASX: IMC

TechKnow Invest Roadshow

Steven Lydeamore Chief Executive Officer

31 JULY 2024

SAFE HARBOR STATEMENT

Certain statements made in this presentation are forward -looking statements and are based on Immuron’s current expectations, estimates and projections. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions are intended to identify forward -looking statements.

Although Immuron believes the forward-looking statements are based on reasonable assumptions, they are subject to certain risks and uncertainties, some of which are beyond Immuron’s control, including those risks or uncertainties inherent in the process of both developing and commercializing technology. As a result, actual results could materially differ from those expressed or forecasted in the forward-looking statements.

The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. Immuron will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.

YTD FY2024 results in this presentation are subject to audit review.

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Executive summary

Immuron Ltd (NASDAQ:IMRN) (ASX:IMC) is a globally integrated biopharmaceutical company focused on developing, and commercialising, oral immunotherapeutics for the treatment of gut mediated diseases

Company Overview

Financial Snapshot

Two commercially available oral immunotherapeutic products – Travelan® and Protectyn®

4 clinical programs: Travelan®(IMC: Phase 2 CHIM trial), Travelan®(USU: Phase 4 field study), CampETEC (NMRC: Phase 2 CHIM trial), IMM-529 (IMC: Protocol development phase, Phase 2 trial)

Business Update

Flagship product Travelan® growing strongly as overseas travel rebounds

recruited ~77% of target 866

CampETEC Phase 2 clinical trial completed inpatient phase

Travelan® (IMM-124E) Phase 2 CHIM trial topline results

Travelan® (IMM-124E) Travelan® Uniformed Services University (USU) P2TD IMM-124E field clinical trial

IMM-529 pre-IND filed with FDA

Results & Outlook

Sales 1 Jul 23 to 30 June 24 of A$4.9 million up 174% on pcp (unaudited)

Evaluating options to enter international markets

Evaluating options to add to marketed products portfolio

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|||
|---|---|
|Shares on Issue|227,998,346|
|Total Options|15,078,839|
|Last Traded Price|IMC: A$0.092|
|52 week High/Low|IMC: A$0.17/0.065|
|IMRN: $5.96/1.48|
|Market Cap|IMC: A$21.0m|
|Cash & Cash Equivalents (as at 31|A$15.2m|
|Dec 23)|

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Major Shareholders

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|---|---|---|
|Holder|Units|% of CSO|
|BNY Mellon Asset Management|78,622,184|34.5 %|
|Authentics Australia Pty. Ltd.|5,500,000|2.4 %|
|Grandlodge|3,846,712|1.7 %|
|Management & Board|1,954,070|0.9 %|

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Technology platform

Immuron’s proprietary technology platform combines the natural human nutrition & health benefits of bovine colostrum with a novel class of specifically targeted oral polyclonal antibodies that offer delivery within the gastrointestinal (“GI”) tract and can be used to target viruses or bacteria and neutralize the toxins they produce at mucosal surfaces.

Bovine colostrum is the first milk of cows after calving. It is rich in immunoglobulins, lactoferrin, lysozyme, lactoperoxidase, growth factors and bioactive peptides. Colostrum has higher levels of protein, fat, vitamins, and minerals when compared to milk. This enables full development of the newborn calf in addition to immunity against several pathogens.*

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Step 1 Step 2 Step 3 Final Product
Development of Highly Isolation of Hyperimmune Oral Antimicrobial therapeutic Toxin Neutralization +
Specific Vaccines antibody-rich bovine without drawbacks of Clearance of targeted gut
colostrum antibiotics pathogens
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• Reduce occurrence and + Assists repair of reduce/relieve diarrhoea gastrointestinal/gut wall lining + Reduce/relieve abdominal cramping + Enhance/promote immune defence + Reduce/relieve gastrointestinal pain + Enhance/promote health liver function

Australian Permitted indications; these statements have not been evaluated by the Food and Drug Administration (FDA)

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* Gomes et. al., NFS Journal, Volume 25, November 2021, pages 1-11, https://doi.org/10.1016/j.nfs.2021.10.001

Travelan® | Mechanism of action

Pre-Clinical Studies

Broad spectrum antimicrobial Protects against bacterial Binds to surface layer proteins Toxin neutralization and adhesion to host cell intestinal preventing bacterial clearance of targeted gut epithelia colonization and motility pathogens

Without Travelan® Bacteria attach to gut wall and infect

With Travelan[®] Bacteria neutralized by Travelan[® ] antibodies

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Addressable market & industry overview

Billion Dollar Market

Traveller’s diarrhoea treatment market is large and growing at a CAGR of ~7%

Industry tailwinds

Travel picking up significantly following COVID lockdowns

Frequent Symptom

30% - 70% of travelers experience traveller’s diarrhoea**

Chief Commercial Officer has

20+ year’s experience with local and global (Asia, UK) commercial leadership roles

with GSK and P&G

USA Market

FY24: launch on amazon.com

and Walmart.com Planning for increased market penetration in FY25

Evaluating options

for entry into international markets

to add marketed products to portfolio in FY25

$83m

Based on US annual travel numbers and a penetration rate of 15%, the market potential is estimated at

$83m*

$50m

Based on EU travel numbers and a penetration rate of 15%, the market potential is estimated at $50m*

$1.7b

Clostridioides difficile infections (CDIs) to grow to almost $1.7 billion by 2026, according to GlobalData

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* IMC Company Report - Travelan Market Analysis 2019 ** Centers for Disease Control and Prevention Yellow Book

Travelan® record sales

Global

• • Full Year FY2024 AUD$4.9 million up 174% on (prior comparative period) pcp
• • June 2024 Quarter AUD$1.3 million up 253% on pcp and 6% on last quarter

Australia

• • Full Year 2024 AUD$3.7 million up 223% on pcp
• • June 2024 Quarter AUD$1.0 million up 200% on pcp and 11% on last quarter

USA

• • Record annual sales
• • Full Year 2024 AUD$1.1 million up 74% on pcp
• • June 2024 Quarter AUD$0.3 million up 546% on pcp; down 1% on last quarter

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Status of product portfolio and key milestones

Travelan®

MTEC 21-10-013 grant Phase 2

randomized clinical challenge study to examine a dosing regimen for Travelan® more suited to the militaryIMM-124E (Travelan®) IND 29087 FDA approval Dec 22

Top-line data 7 March 2024 Additional topline data – August 2024 Clinical Study Report – September 2024

Collaborative studies

Clostridioides difficile

IMM-529

Prevention of recurrent CDI infections Vaccine (spores, vegetative cells, and Toxin B)

600mg solid dose active formulation developed

Clinical protocol and trial preparation in progress pre-IND submission to FDA – 1 July 2024

Immuron’s Clinical Programs

Compound or brand name Indication Phase I Phase II Phase III Market IMM-124E Travelers’ Diarrhea Travelan® ETEC challenge Clostridioides difficile IMM-529 Infection & Recurrence

Travelan® P2TD

Field study Uniformed Services University

Phase 2 randomized clinical trial with Travelan® /Placebo to evaluate prophylactic effectiveness during deployment or travel to a high TD risk region Status ~77% of participants have been recruited (866 target) Anticipated topline results – 1Q 2025

CampETEC

NMRC Campylobacter and enterotoxigenic E. coli product

Manufactured by Immuron

Immuron sponsored GLP Toxicology study completed – Dec 2022 Phase 2 CHIM completion of inpatient phase – December 2023 6 month follow up completed – June 2024 Anticipated topline results – August 2024

Our Partners’ Clinical Programs

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Compound or
brand name Partner Phase I Phase II Phase III Market
Uniformed Services University
Travelan®
Naval Medical Research
CampETEC Command
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WORLD FIRST TRIPLE MECHANISM OF ACTION FOR CDI

IMM-529:pre-IND filed with FDA July 2024	IMM-529:pre-IND filed with FDA July 2024
Indication / Target Population	IMM-529 will be indicated for the treatment of recurrent_C. difficile_ infection
Product Description / Mechanism of Action	• Novel antibody-containing therapeutic which neutralizes C.difficile but does not impact the microbiome • Targets not only toxin B but also spores and vegetative cells responsible for recurrence • Potential for use in combination with standard of care (e.g. vancomycin, metronidazole, fidaxomicin) • Targets many isolates
Dosage and ROA	• Oral administration, 3 x daily • Trial to test safety 7-day treatment course on top of standard of care (vancomycin, fidaxomicin)
Efficacy	1. Prevention of primary disease (80% P =0.0052) 2. Protection of disease recurrence (67%, P <0.01) and 3. Treatment of primary disease (78.6%, P<0.0001; TcB HBC).
Safety / Tolerability	• To be evaluated in Phase I/IIA study • Equivalent or better than current standard of care

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IMM-124E Phase 3 strategy

Pre 2H 2024 1H 2025 2H 2025 Post Phase 1 clinical study Additional topline data FDA meeting – Phase 3 Initiate Phase 3 Trial duration ~ 2 years (Baltimore, 1996) analysis August 2024 clinical protocol End of Phase 3 FDA meeting Phase 2 clinical study Clinical Study Report (Poland, 2000) anticipated September 2024 BLA[3] submission FDA[1] IND[2] approval End of Phase 2 FDA meeting (December 2022) Phase 2 clinical study (Baltimore, 2024)

• • The pivotal registration studies is anticipated to involve two

• randomized, double-blind, parallel-group, placebo-controlled Phase 3 clinical studies (drug substance IMM-124E) to assess the efficacy and safety of Travelan® for prevention of traveler’s diarrhea (TD)

• • Anticipated enrolment of approximately 1200 healthy adult subjects (600 subjects in two studies) traveling to regions with high TD risk.
• • Subjects anticipated to be randomized 1:1 to receive Travelan® or placebo.
• • Dosing anticipated to begin 3 days prior to arrival in country and for at least 14 days in country.
• • The primary endpoint requested will be traveler’s diarrhea.

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1. U.S. Food and Drug Administration; 2. Investigational New Drug; 3. Biologics License Application

Scientific references

Travelan® (IMM-124E)

Travelan® has been shown to reduce both the incidence and severity of ETECinduced diarrhea in up to 90% of volunteers

Clinical Evaluation of Travelan® an Oral Prophylactic for Prevention of Travelers’ Diarrhea in Active Duty Military Service Assigned Abroad.

Travelan as a broad Spectrum anti-bacterial

Travelan® demonstrates broad reactivity to Vibrio cholera strains from Southeast Asia indicating broad potential for prevention of traveler’s diarrhea

Travelan® prevented clinical shigellosis (bacillary dysentery) in 75% of Travelan® treated animals compared to placebo and demonstrated a significant clinical benefit

Travelan® able to bind and was reactive to 60 clinical isolates of each bacteria, Campylobacter, ETEC, and Shigella

Bioactivity and efficacy of a hyperimmune bovine colostrum product- Travelan, against shigellosis in a non-Human primate model (Macaca mulatta)

Bioactive Immune Components of Travelan®

Hyperimmune bovine colostrum containing lipopolysaccharide antibodies (IMM124E) has a non-detrimental effect on gut microbial communities in unchallenged mice

Administration of the Hyper-immune Bovine Colostrum Extract IMM-124E Ameliorates Experimental Murine Colitis

Scandinavian Journal of Gastroenterology, 46:7-8, 862-868, DOI: 10.3109/00365521.2011.574726 Military Health System Research Symposium 14-17 Aug 2023_Abstract 1 Immuron Limited, 29 April, 2011 US Department of Defense, Armed Forces Research Institute of Medical Sciences (AFRIM), 4 September, 2019

US Department of Defense, Armed Forces Research Institute of Medical Sciences (AFRIM), 5 September, 2018 US Department of Defense, Armed Forces Research Institute of Medical Sciences (AFRIM), 30 January, 2017 Islam D, Ruamsap N, Imerbsin R, Khanijou P, Gonwong S, Wegner MD, et al. (2023) Bioactivity and efficacy of a hyperimmune bovine colostrum product- Travelan, against shigellosis in a non-Human primate model (Macaca mulatta). PLoS ONE 18(12): e0294021.

Clin Vaccine Immunol 24:e00186-16. https://doi.org/10.1128/CVI.00186-16

Infect Immun. 2023 Nov; 91(11): e00097-23.

Journal of Crohn's and Colitis, Volume 13, Issue 6, June 2019, Pages 785–797, https://doi.org/10.1093/ecco-jcc/jjy213

IMM-529

Bovine antibodies targeting primary and recurrent Clostridium difficile disease are a potent antibiotic alternative

Sci Rep 7, 3665 (2017). https://doi.org/10.1038/s41598-017-03982-5

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STEVEN LYDEAMORE CHIEF EXECUTIVE OFFICER IMMURON LIMITED CONTACT INFORMATION:

EMAIL: STEVE@IMMURON.COM PHONE: AUSTRALIA: +61 438 027 172

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