INVION LIMITED — Capital/Financing Update 2025

Jun 23, 2025

Appendix 3B - Proposed issue of securities

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Update Summary Entity name INVION LIMITED Announcement Type Update to previous announcement Date of this announcement 23/6/2025 Reason for update to a previous announcement To include details of potential piggyback options. 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

INVION 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

ACN

Registration Number

094730417

1.3 ASX issuer code

IVX

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

To include details of potential piggyback options.

1.4b Date of previous announcement to this update

23/6/2025

1.5 Date of this announcement

23/6/2025

1.6 The Proposed issue is:

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

1.6a The proposed standard +pro rata issue is:

• Non-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

IVX : ORDINARY FULLY PAID

Is the proposed security a 'New Will the proposed issue of this If the entity has quoted company class' (+securities in a class that is +security include an offer of options, do the terms entitle option not yet quoted or recorded by ASX) attaching +securities? holders to participate on exercise? or an 'Existing class' (additional No No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

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

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Loyalty Option Yes No	Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Loyalty Option Yes No
New class-code to be confirmed	Loyalty Option

+Security type

Options

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Appendix 3B - Proposed issue of securities

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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 77 100 What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded up to the next 65,748,609 whole number 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 0.01500

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? No

Will a scale back be applied if the offer is over-subscribed? No

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details

+Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 0.1400 30/6/2027

Details of the type of +security that will be issued if the option is exercised

IVX : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

65748609

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02956393-2A1601722&v=04711220c3a 57065317ba4efca4a3459a4e46882

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Appendix 3B - Proposed issue of securities

Part 3C - Timetable

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3C.1 +Record date

26/6/2025

3C.2 Ex date

25/6/2025

3C.4 Record date

26/6/2025

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue

1/7/2025

3C.6 Offer closing date

10/7/2025

3C.7 Last day to extend the offer closing date

7/7/2025

3C.9 Trading in new +securities commences on a deferred settlement basis

11/7/2025

3C.11 +Issue date and last day for entity to announce results of +pro rata issue

17/7/2025

3C.12 Date trading starts on a normal T+2 basis

18/7/2025

3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis

22/7/2025

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?

Blue Ocean Equities Pty Ltd

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

A management fee of 3.5% of the Entitlement Offer proceeds.

A selling fee of 2.5% of the Entitlement Offer proceeds.

3E.2 Is the proposed offer to be underwritten? Yes

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Appendix 3B - Proposed issue of securities

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3E.2a Who are the underwriter(s)?

Blue Ocean Equities Pty Ltd

3E.2b What is the extent of the underwriting (ie the amount or proportion of the offer that is underwritten)?

Fully underwritten

3E.2c What fees, commissions or other consideration are payable to them for acting as underwriter(s)?

Please refer to Item 3E.1b

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

Please refer to Prospectus lodged with the ASX on 23 June 2025.

3E.2e Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed offer? Yes

3E.2e (i) What is the name of that party?

Polar Ventures Limited (an entity associated with Mr Thian Chew, Chairman and CEO)

3E.2e (ii) What is the extent of their underwriting or sub-underwriting (ie the amount or proportion of the offer they have underwritten or sub-underwritten)?

Sub-underwriting $150,000

3E.2e (iii) What fee, commission or other consideration is payable to them for acting as underwriter or sub-underwriter?

Nil

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

Part 3F - Further Information

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

The funds raised will be used for:

(a) R&D - non-melanoma (NMSC) trial and anogenital cancer trial;

(b) the costs of the equity raising; and

(c) capital management and general working capital.

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

Countries outside Australia, New Zealand and Hong Kong

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://investors.inviongroup.com/

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

A further offer to eligible Loyalty Option holders of one (1) option (Piggy-Back Option) for every two (2) Loyalty Options exercised by 31 December 2025. Each Piggy-Back Option has a nil issue price and is excisable at $0.21 each on or

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Appendix 3B - Proposed issue of securities

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before the expiry date of 30 June 2027. If all Loyalty Options are exercised before 31 December 2025, a total of 32,874,304 Piggy-Back Options will be issued (subject to rounding).

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

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