Immuron Ltd — Investor Presentation 2025

Aug 28, 2025

NASDAQ: IMRN ASX: IMC

FY25 Results Presentation

Steven Lydeamore Chief Executive Officer

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.

FY2025 results in this presentation are subject to audit review.

==> picture [143 x 35] intentionally omitted <==

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

Three commercial products: Travelan® (traveller’s diarrhoea), Protectyn® and ProIBS (irritable bowel syndrome) Three clinical programs : Travelan®: IMC: Phase 2 CHIM trial (n=60) Travelan®: USU: Field Study (n=866) IMM-529 (CDI): IMC: preparing IND for Phase 2 trial (n=60)

Clinical:

Business Update

Travelan® (IMM-124E) Travelan® Uniformed Services University IMM-124E trial 100% of 866 participants have been randomized and deployed

Commercial:

Continued quarter on quarter growth of Travelan® ProIBS launch stock ordered

Travelan® (IMM-124E) Travelan® Uniformed Services University IMM-124E trial topline results anticipated in October 2025

IMM-529 (CDI): Immuron anticipates submission of Investigational New Drug (IND) by end of September 2025

IMM-986 (VRE): Colostrum manufactured for preclinical studies; assay development in progress

Results, Upcoming Milestones & Outlook

Continued quarter on quarter growth of Travelan® from growth drivers

FY25 Results:

FY25 Global Sales Revenue of A$7.3 million up 49% on prior year – North American Travelan® sales A$2.0 million up 76% on prior year

Australian launch of ProIBS 1Q CY2026

Clinical Development

Profit[1] from Hyperimmune products for FY25 was A$1.35m, the same as FY24; FY25 increased selling & marketing investment A$1.4m

Travelan® IMM-124E: 1H 2026: End of Phase 2 FDA meeting (Phase 2; n=60)

IMM-529 (CDI): Immuron anticipates FDA approval of IND in December 2025

1 Segment reporting; excludes Research & Development and Corporate segments.

Financial Snapshot

	Financial Snapshot
	Shares on Issue 268,219,973
	Total Options 13,540,315
	Last Traded Price IMC: A$0.068
	52 week High/Low IMC: A$0.11/0.054 IMRN: $2.87/1.50 Market Cap IMC: A$18.23m Cash & Term Deposit (30 June 2025) – Excludes A$2.8m raised from US placement (July 2025) A$5.9m

Major Shareholders

	Major Shareholders
	Holder Units % of CSO
	BNY Mellon Asset Management 113,417,824 42.29 %
	Authentics Australia Pty. Ltd. 5,500,000 2.05 %
	Grandlodge 3,846,712 1.43 %
	Management & Board 3,234,153 1.21 %

==> picture [87 x 21] intentionally omitted <==

3

1. FINANCIAL & OPERATIONAL HIGHLIGHTS

==> picture [143 x 35] intentionally omitted <==

FY25 Financial Summary

==> picture [824 x 292] intentionally omitted <==

----- Start of picture text -----

Global Sales Australian Sales North American
Revenue Revenue Sales Revenue
$7.3m $5.3m $2.0m
Up 49% Up 40% Up 76%
Cash + Term
EBITDA (ex-R&D) [1]
Gross Profit
Deposit
$(3.1)m
Margin
$5.9m (excludes
$2.1m
65.4% A$2.8m raised from
improvement
the US placement) [2]
----- End of picture text -----

1 ex-R&D: add back research & development, less R&D Tax Incentive and R&D grants; 2 30 June 2025, as reported in Immuron’s Appendix 4E (Cash $2.83m; Term Deposit $3.04m) and excludes the A$2.8m raised from the US placement of 32.9m shares at the AUD equivalent of $0.0824 per share conducted on the Nasdaq:IMRN completed 17 July 2025. The shares were purchased by US investors from Immuron’s US At-The-Market ( ATM ) facility. The ATM facility has now been fully utilised.

==> picture [87 x 21] intentionally omitted <==

5

Travelan® continued strong sales growth

==> picture [68 x 18] intentionally omitted <==

----- Start of picture text -----

Global
----- End of picture text -----

==> picture [237 x 12] intentionally omitted <==

----- Start of picture text -----

+ FY2025 AUD$7.3 million up 49% on prior year
----- End of picture text -----

==> picture [299 x 82] intentionally omitted <==

----- Start of picture text -----

Australia
+ FY2025 AUD$5.2 million up 40% on prior year
+ Secured core ranging in additional nine pharmacy banner
groups
----- End of picture text -----

North America

• • FY2025 AUD$2.0 million up 76% on prior year
• • Strongest sales growth on amazon.com
• • Secured distribution in ten pharmacy/grocery retailers in Canada

==> picture [455 x 449] intentionally omitted <==

----- Start of picture text -----

Global Year to Date Net Sales ($AUD)
$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$-
Jul - Sep Oct - Dec Jan - Mar Apr - Jun
FY24 FY25
6
----- End of picture text -----

==> picture [59 x 21] intentionally omitted <==

----- Start of picture text -----

6
----- End of picture text -----

Commercial – Operational Highlights

2H FY25 and 1H FY24 2H FY24 1H FY25 Outlook

• Travelan ® / Protectyn®

• • • • • $2.36m global sales $2.55m global sales $4.00m global sales $3.29m global sales

• • • • •

• Revenue $1.87m Australia $1.87m Australia $2.89m Australia $2.36m Australia • • • • $0.48m North America $0.67m North America $1.11m North America $0.93m North America • Australia: 3,700 pharmacies; 27m

• Marketing & • peopleCanada: 10,000 pharmacies; 39m Distribution people • USA: 342m people

• ProIBS

• • Exclusive distribution of ProIBS® for • Purchase order placed with the treatment of symptoms related anticipated delivery in 3Q2025.

• Highlights to IBS in Australia and New Anticipated product launch in 1Q Zealand. CY2026.

==> picture [63 x 70] intentionally omitted <==

==> picture [87 x 21] intentionally omitted <==

7

2. CLINICAL DEVELOPMENT PROGRAM

==> picture [143 x 35] intentionally omitted <==

Revenue generating with a strong clinical development pipeline

Indication	30 August 2024	29 August 2025
Traveller’s Diarrhoea	Travelan® (IMM-124E) Phase 2 Clinical study topline data reported in March 2024	Clinical study report submitted to FDA inJanuary 2025 Awaiting Travelan® Uniformed Services University clinical trial topline results (anticipatedOctober 2025) before requesting end of Phase 2 meeting
	Travelan® Uniformed Services University clinical trial reaches77% recruitment of 866 patients	Travelan® Uniformed Services University clinical trial100%of participants have been randomized and deployed Quality review of study data initiated October 2025anticipated top line results
Clostridioides Difficile	IMM-529 pre-IND submission to the FDA inJuly 2024	Planning IMM-529 FDA IND submission by end ofSeptember 2025 Anticipated IMM-529 FDA approvalDecember 2025
Vancomycin Resistant Enterococci		New project (IMM-986) initiation of pre-clinical research collaboration with Monash University targeting Vancomycin Resistant Enterococci (VRE) Colostrum manufactured for preclinical studies. In Vitro method development initiated.

==> picture [87 x 21] intentionally omitted <==

9

Status of product portfolio and key milestones

Indication	Compound	Peak U.S. sales Precl	inical Phase 1	Phase 2	Phase 3	Registration	Collaborator or Funding Source	Collaborator or Funding Source	Current Status	Anticipated Dates	Anticipated Dates
										2H 2025	1H 2026
Traveller's Diarrhoea	Travelan®	US$ 102 m						Uniformed Services University	100% of 866 participants recruited	Topline Data
	IMM-124E								Completed		End of Phase 2 FDA meeting
Clostridioides Difficile	IMM-529	US$ 400 m							Pre-IND submission to FDA	IND submission to FDA	IND FDA approval (31 December 2025)
Vancomycin Resistant Enterococci	IMM-986								Manufacturing completed	Preclinical activities	In Vitro and In Vivo Preclinical data

==> picture [87 x 21] intentionally omitted <==

10

3. UPCOMING MILESTONES & OUTLOOK

==> picture [143 x 35] intentionally omitted <==

Upcoming Milestones & Outlook

Commercial

• • Continued quarter on quarter growth of Travelan® from growth drivers
• • Australian launch of ProIBS in Q1 CY2026
• • Planned growth in profitability[1] of Hyperimmune products net of planned increased investment in selling & marketing

Clinical

IMM-124E (Travelan®): Traveller’s Diarrhoea

• • IMM-124E: completed 100% recruitment, randomization and deployment

• (Phase 4; n=866)

• • IMM-124E: October 2025: Topline data (Phase 4; n=866)
• • IMM-124E: 1H 2026: End of Phase 2 FDA meeting (Phase 2; n=60)

IMM-529: Clostridioides difficile infection (C.diff, CDI)

• • IMM-529: 30 September: FDA IND Submission
• • IMM-529: 31 December: FDA IND Approval

12

1 Segment reporting; excludes Research & Development and Corporate segments.

==> picture [419 x 419] intentionally omitted <==

==> picture [175 x 43] intentionally omitted <==

STEVEN LYDEAMORE CHIEF EXECUTIVE OFFICER IMMURON LIMITED CONTACT INFORMATION:

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

==> picture [55 x 53] intentionally omitted <==