INOVIQ LTD — Capital/Financing Update 2018

Nov 7, 2018

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ENTITLEMENT ISSUE TO ADVANCE BARD1 DIAGNOSTIC PIPELINE TOWARDS COMMERCIALISATION

• BARD1 to raise up to $3.3 million via an Entitlement Issue at $0.02 per share

• 1 for 5 pro rata non-renounceable entitlement issue to eligible shareholders

• Funds intended to be used to advance development of the BARD1 diagnostics pipeline, ongoing research activities, commercial initiatives and for general working capital purposes

Perth, Australia, 8 November 2018: BARD1 Life Sciences Limited (ASX:BD1) ( BARD1 or the Company ), a biotechnology company developing non-invasive cancer diagnostics, is pleased to announce that it intends to raise up to $3.3 million (before costs) by the issue of approximately 165.7 million fully paid ordinary shares at an issue price of $0.02 per share by way of a non-renounceable entitlement issue ( Entitlement Issue ).

Background and Use of Funds

BARD1 has appointed Merchant Corporate Advisory Pty Ltd ( Merchant ) as Lead Manager for the Entitlement Issue.

The funds raised from the Entitlement Issue are intended to be used to advance development of the BARD1 diagnostics pipeline, ongoing research activities, commercial initiatives and for general working capital purposes.

Dr Leearne Hinch, BARD1 CEO said: “BARD1’s vision is to develop blood tests to detect cancer early and save lives. The Company now has three BARD1 autoantibody tests in development for early detection of breast, ovarian and lung cancers. These funds will assist the Company to advance its innovative diagnostics pipeline towards clinical development and commercialisation to benefit patients, the healthcare system and our shareholders.

“BARD1 is extremely pleased to be working with Merchant Corporate Advisory on this funding initiative. Merchant is an experienced corporate advisory and fund manager that is a strong supporter of the Australian biotechnology industry having invested in a number of biotech/medtech companies to help bring new life saving products to market.”

Details of the Entitlement Issue

The Entitlement Issue offer price of $0.02 per share represents a 39% discount to the last traded price of ASX:BD1 shares of $0.033 on 7 November 2018.

Under the Entitlement Issue, eligible shareholders will be entitled to subscribe for one (1) new share for every five (5) existing shares held at the record date at the offer price of $0.02 per share.

The Entitlement Issue will be offered to shareholders of BARD1 that are holders of existing shares who:

• are registered as holders of existing shares as at the record date;

• have a registered address on the BARD1 share register in Australia, New Zealand and any other jurisdictions deemed appropriate by the Board; and

• are not in the United States and are not “U.S. persons” (as defined under Regulation S under the United States Securities Act of 1933, as amended) (U.S. Persons) or acting for the account or benefit of U.S. Persons

Shareholders who do not satisfy the above criteria are ineligible shareholders.

The Entitlement Issue is non-renounceable meaning that eligible shareholders cannot trade their entitlements on the ASX or transfer those rights. Shareholders who do not take up their entitlement under

BARD1 Life Sciences Limited (ABN 58 009 070 384) Registered Office | Suite B1, Tempo Building, 431 Roberts Road, Subiaco WA 6008, Australia P +618 9381 9550 | F +618 9388 7559 | E info@bard1.com | W www.bard1.com

BARD1 | ASX Release

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the Entitlement Issue in full or in part, will not receive any value in respect of those entitlements not taken up.

All new shares issued under the Entitlement Issue will rank equally in all respects with the existing fully paid ordinary shares of the Company.

An Offer Document in relation to the Entitlement Issue setting out full details of the offer along with the timetable will be lodged on ASX and despatched to shareholders within due course.

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FOR MORE INFORMATION PLEASE CONTACT:

Peter Gunzburg Dr Leearne Hinch Chairman CEO E peter@bard1.com E leearne@bard1.com M +61 400 414 416

ABOUT BARD1 LIFE SCIENCES LTD

BARD1 Life Sciences Ltd (ASX:BD1) is an Australian-based biotechnology company focused on developing and commercialising non-invasive diagnostic tests for early detection of cancer. BARD1’s proprietary technology platform is based on novel tumour markers with potential diagnostic and therapeutic applications across multiple cancers. The pipeline includes BARD1 autoantibody tests in development for early detection of breast, ovarian and lung cancers. Additional diagnostic projects will be evaluated for other cancers. The company also has a cancer vaccine project at research-stage for treatment of cancer. BARD1 is committed to transforming the early detection of cancer to save lives. For more information on BARD1, see www.bard1.com.

BARD1 LSL | ASX Release