TRUSCREEN GROUP LIMITED — Earnings Release 2026

May 28, 2026

NZX

NEW ZEALAND'S EXCHANGE

TE PAEHOKO O AOTEAROA

Results announcement

Results for announcement to the market
Name of issuer	Truscreen Group Limited
Reporting Period	12 months to 31 March 2026
Previous Reporting Period	12 months to 31 March 2025
Currency	NZ Dollars
Amount (000s)		Percentage change
Revenue from continuing operations	2,434	+42%
Total Revenue	2,829	+34%
Net profit/(loss) from continuing operations	(2,253)	-0.4%
Total net profit/(loss)	(2,253)	-0.4%
Interim/Final Dividend
Amount per Quoted Equity Security	N/A
Imputed amount per Quoted Equity Security	N/A
Record Date	N/A
Dividend Payment Date	N/A
	Current period	Prior comparable period
Net tangible assets per Quoted Equity Security	$0.003	$0.002
A brief explanation of any of the figures above necessary to enable the figures to be understood	See attached announcement
Authority for this announcement
Name of person authorised to make this announcement	Guy Robertson Chief Financial Officer
Contact person for this announcement	Guy Robertson
Contact phone number	+61 407 983 270
Contact email address	guyrobertson@truscreen.com
Date of release through MAP	29 May 2026

Unaudited financial statements accompany this announcement.

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truscreen®
a world without cervical cancer

NZX/ASX Announcement

29 May 2026

TruScreen FY2026 Preliminary Results

(all numbers in NZ dollars)

Cervical cancer technology company Truscreen Group Limited (NZX/ASX: TRU) (the Company) has today released its preliminary unaudited financial results for the financial year ended 31 March 2026.

Highlights include:

• Launch of 5-year programme to screen 260,000 women for cervical cancer in Ho Chi Minh City, Vietnam
• TruScreen re-enters the Indian market and appoints Renovate Biologicals Pvt Ltd to distribute its AI enabled TruScreen cervical cancer screening system in India
• Landmark publication of the multi year and multi province clinical trial by Germany's BMC Cancer. Notable publications including Sichuan University clinical study, and the Guilin People's Hospital study, confirm TruScreen's superiority as a primary screening medical device, and a superior screening choice for pregnant women
• TruScreen submitted three proposals to UNITAID's Global Cervical Cancer Elimination Call to Action, covering 14 high burden countries and an addressable screening market of 1Bn women.
• Growing TruScreen's distribution network with appointment of new distributors in South Africa and Uzbekistan, with pending appointments in Nigeria, Romania, Bangladesh and Sri Lanka

Financial year 31 March 2026 was a year of marketing growth and consolidation for TruScreen.

Truscreen achieved product sales growth of 42% YOY to FY2026, and the sales were achieved from a broader range of participant countries. This included first sales in India with 468 million¹ screening-age women and Indonesia with 95 million² of screening age and a government funded mass screening program, creating enormous growth opportunity.

TruScreen is accelerating new market development, with a diversified geographic distribution footprint that will provide leverage to improve commercial returns. TruScreen's additional drive to participate in public screening programmes requires investment, but achieving scale and meeting clinical need will shorten the pathway to profitability.

TruScreen has recently submitted three proposals to UNITAID for cervical cancer screening programmes across 14 high-burden countries in Africa, Asia-Pacific, and Latin America – addressable market 1Bn women, with potential revenue as a consortium lead for TruScreen of up to US$18.4 million. TruScreen's point-of-care portable AI technology is purpose-built for the settings where cervical cancer kills most, where there are no laboratories, no pathologists, and no patient recall second visit.

¹ CIA World Factbook women aged 15-64 = 467,593,7814
² CIA World Factbook women aged 15-64 = 95,961,293

truscreen
a world without cervical cancer

TruScreen Group Ltd | NZBN 9429030105614
TRU.NZ | TRU.AX | info@truscreen.com
Suite 3.03 18-20 Orion Road, Lane Cove, NSW 2066, Australia

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truscreen®
a world without cervical cancer

TruScreen enables primary screening where labs are absent, HPV triage where HPV (including Dalton Bio) is primary, and same-visit complement in screen-and-treat settings. This creates a complementary rather than competitive relationship with HPV expansion.

Gross margin in FY2026 was 31.5% (2025: 30.1%). Gross margin is expected to further improve in FY2027 with revenue from a broader range of countries. Other income was in line with the prior year at $0.4m (2025: $0.4m).

Total overhead expenses were $3.4m (2025: $3.1m) reflecting additional marketing and support costs as the Company strives to broaden its revenue base. The result for the year was a loss of $2.25m (2025: $2.24m) with the additional margin on revenue being offset by additional costs incurred as the Company grew its distributor base and focus on large public screening programmes in collaboration with global NGO's working with countries to meet WHO's 90-70-90 milestones by 2030.

TruScreen in FY2026 expanded its reach into a number of new countries. A brief summary of development by country is as follows:

China

• China remained our largest market, accounting for 61.3% of total sales. Despite challenging economic conditions, consumable sales volume met expectations.
• Landmark clinical study results from the Chinese Obstetricians and Gynaecologists Association (COGA) were published in the leading German journal BMC Cancer and Springer Nature Link in February 2026. This largest-ever study of opto-electronic cervical screening further validated TruScreen as a superior primary cervical cancer screening tool.

truscreen
a world without cervical cancer

TruScreen Group Ltd | NZBN 9429030105614
TRU.NZ | TRU.AX | info@truscreen.com
Suite 3.03 18-20 Orion Road, Lane Cove, NSW 2066, Australia
CE
ISO 14001
NATIONAL MEDICAL PRODUCTS ADMINISTRATION
国

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truscreen®
a world without cervical cancer

Vietnam

• TruScreen was successfully adopted by four leading public hospitals in South Vietnam, establishing a foundation for broader hospital acceptance.
• TruScreen has entered the growing private health sector. One hospital has integrated TruScreen into its daily clinic operations, while four additional clinics are awaiting government approval for installation and three more are preparing their application documentation for submission.

Indonesia

• The pilot clinical study is currently underway. Results will be presented by the lead investigator at the Annual Scientific Meeting of POGI (the Indonesian Obstetrics and Gynaecology Association) in July 2026. TruScreen and distributor Marwa Mitra Medika are sponsoring the conference and will conduct a symposium to launch TruScreen in Indonesia.
• Leveraging the pilot clinical study results, Marwa Mitra Medika will collaborate with the Ministry of Health to include TruScreen in government public screening programs.

India

• New distributor Renovate Biological was appointed in April 2025.
• Interim Product Testing license was obtained in July 2025, permitting Renovate Biological to import up to 10 TruScreen devices, which have been shipped, for clinical study and training purposes. A consortium of private hospitals will adopt TruScreen subject to regulatory approval.
• Application for regulatory approval was submitted in April 2026, with approval expected within 3 to 6 months.

Singapore, Malaysia and Thailand

• Product registration with Singapore's HSA was obtained in September 2025.
• Product registration with Thailand's FDA was obtained in April 2026.
• Product registration in Malaysia was submitted in March 2026, with approval expected shortly.
• A reference centre for S E Asia has been established in Singapore with local Key Opinion Leader, Dr. S. C. Quek at the Parkway Gynaecology Screening & Treatment Centre, Gleneagles Hospital.

Bangladesh

• New distributor Xerox Medica Limited was appointed in May 2026, with potential first-year sales in FY2027.
• Government procurement application to be submitted in June 2026 to meet government budget deadline.

Mexico

• Distributor Sunbird launched social media and digital marketing campaigns, established online training and information centres for TruScreen. It generated significant interest, and is building a strong sales pipeline.
• TruScreen has entered the laboratory system where large volumes of cervical cancer screenings are conducted. Sunbird is in discussions to collaborate with major laboratory chains. Sales are expected to commence in FY2027.

Uzbekistan

• New distributor appointed in May 2026. Albatros Health Care LLC is a leading medical device distributor in the country. The potential sales revenue for the 30-month period through calendar year 2028 is over NZD 1 million.

truscreen
TruScreen Group Ltd | NZBN 9429030105614
TRU.NZ | TRU.AX | info@truscreen.com
Suite 3.03 18-20 Orion Road, Lane Cove, NSW 2066, Australia
a world without cervical cancer
CE
ISO 14001
NATIONAL MEDICAL PRODUCTS ADMINISTRATION
00 00 00 00 00 00 00

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truscreen®
a world without cervical cancer

• Led by a senior government medical advisor, and with ethics approval, the pilot Clinical study will commence in June 2026.

Central Asia

• Distributor IMSystem is conducting a multi-centre clinical study to meet requirements for TruScreen to be recognized as a primary screening method in all government healthcare providers and screening programs. Two centres have begun screening 1,500 women, with two additional centres commencing in May 2026 to screen the remaining 500 women.
• Kazakhstan will commence commercial use of TruScreen in early FY2027. Product registrations have been submitted in Kyrgyzstan and Belarus, with approvals expected in Q3 FY2027.

Zimbabwe

• The re-validation study was completed by the National Microbiology Reference Laboratory in August 2025. The positive results enabled the Ministry of Health to approve TruScreen as a primary screening test for locations where HPV DNA testing is unavailable and as a confirmatory test for HPV-positive women nationwide. This is an expansion from the previous single-province deployment.
• Following re-validation, the screening program resumed with a planned 20,000 screenings in calendar year 2026.

South Africa

• New distributor AIR was appointed in November 2025.
• Product registration with the South African Health Products Regulatory Authority (SAHPRA) was submitted in March 2026, with approval expected in July 2026.
• A pilot clinical study to support market entry has been planned to commence when regulatory approval is received.

Nigeria

• TruScreen collaborated with Nigeria's Lagos State University Teaching Hospital (LASUTH) and Lagos State University College of Medicine (LASUCOM) on a Bill & Melinda Gates Foundation grant application. Dr. Ayokunle Moses Olumodeji, Consultant Gynaecological Oncologist at LASUTH, selected TruScreen's Al-enabled cervical cancer screening medical device as the cornerstone of his proposed study to validate TruScreen's integration into existing clinical settings.
• The first clinical reference centre in Africa will be established in Nigeria with Professor Chibuike Chigbu at University of Nigeria Teaching Hospital.
• Collaborative relationships have been developed with local NGOs including Solina Centre for International Development and Research (SCIDaR) and RedAid.

Other new distributors appointed include Romania and Italy. We are in final discussions with potential distributors in Nigeria, Rwanda, Sri Lanka, and Palestine.

truscreen
a world without cervical cancer
TruScreen Group Ltd | NZBN 9429030105614
TRU.NZ | TRU.AX | info@truscreen.com
Suite 3.03 18-20 Orion Road, Lane Cove, NSW 2066, Australia
CE
ISO 14001
NATIONAL MEDICAL PRODUCTS ADMINISTRATION
00 00 00 00 00 00

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truscreen®
a world without cervical cancer

Corporate

The Company raised approximately $4 million during the year, with the issue of approximately 190.7 million shares at $0.022 per share. These funds have enabled the Company to expand its geographic reach and engage in new initiatives which have strengthened the foundation for improved financial performance in FY2027.

Attached to these shares is one free attaching option, exercisable at $0.022, which term has been extended to 17 July 2027.

Ms Juliet Hull retired as a director at the annual shareholders meeting on 11 September and Ms Christine Pears was elected by shareholders as a director. She has over 20 years' experience as Chair, independent director and executive of both listed and private companies.

Our CEO, Martin Dillon, as foreshadowed in an announcement in February 2026, will rejoin the Company on 1 June 2026 and will be key in TruScreen's drive for transformational growth.

Mr Chris Horn, as advised in early April 2026 will retire shortly after thirteen years as a director of the Company. The Company is currently seeking to appoint an Australian based Non-executive director.

Authorised by the Board for filing with the NZX/ASX.

For more information, visit www.truscreen.com or contact:

Tony Ho
Executive Chairman
tonyho@truscreen.com

Guy Robertson
Chief Financial Officer
guyrobertson@truscreen.com

Jack Zhang
Media & Investor Relations
jack@sparkplus.org

truscreen®
a world without cervical cancer

TruScreen Group Ltd | NZBN 9429030105614
TRU.NZ | TRU.AX | info@truscreen.com
Suite 3.03 18-20 Orion Road, Lane Cove, NSW 2066, Australia
CE
ISO 14001
NATIONAL MEDICAL PRODUCTS ADMINISTRATION
00 00 00 00 00 00 00

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truscreen®
a world without cervical cancer
^{}[]

About TruScreen:

TruScreen Group Limited (NZX/ASX: TRU) is a medical device company that has developed and manufactures an AI-enabled device for detecting abnormalities in the cervical tissue in real-time via measurements of the low level of optical and electrical stimuli.

TruScreen’s cervical screening technology enables cervical screening, negating sampling and processing of biological tissues, failed samples, missed follow-up, discomfort, and the need for costly, specialised personnel and supporting laboratory infrastructure.

The TruScreen device, TruScreen Ultra®, is registered as a primary screening device for cervical cancer screening.

The device is CE Marked/EC certified, ISO 13485 compliant and is registered for clinical use with the TGA (Australia), MHRA (UK), NMPA (China), SFDA (Saudi Arabia), Roszdravnadzor (Russia), and COFEPRIS (Mexico). It has Ministry of Health approval for use in Vietnam, Israel, Ukraine, and the Philippines, among others and has distributors in 29 countries. In 2021, TruScreen established a manufacturing facility in China for devices marketed and sold in China.

TruScreen technology is recognised in CSCCP’s (Chinese Society for Colposcopy and Cervical Pathology) China Cervical Cancer Screening Management Guidelines and the COGA Blue Book.

In Dec 2023 TruScreen technology was added to the Vietnam Ministry of Health approved National Technical List, for use in Vietnam’s public and private healthcare sectors and in 2024 was added to the Russian guidelines for the screening of cervical cancer.

In financial year 2025 alone, over 200,000* examinations were performed with the TruScreen device. To date, over 200 devices have been installed and used in China, Vietnam, Mexico, Zimbabwe, Russia, and Saudi Arabia. TruScreen’s vision is “A world without the cervical cancer”.

To learn more, please visit: www.truscreen.com/.

*Based on Single Use Sensor sales.

About DaltonBio:

DALTON BioSciences (“DALTONbio”) is a global, innovative medical technology company focusing on in vitro diagnosis (IVD) in women’s health and oncology. DALTONbio is the leader in human papillomavirus (HPV) nucleic acid testing and comprehensive cervical cancer detection and screening. Its HPV DNA detection kits (DH HPV test series) are the world’s only products based on its third-generation proprietary hybrid-capture technology, which provides HPV genotyping without requiring nucleic acid extractions and amplifications. This technology is well-suited for the detection of high-risk types of HPV and cervical cancer screening. DALTONbio’s exceptional, clinically proven products have saved tens of millions of lives in the world. They have aided health professionals in detecting, diagnosing, and treating illnesses earlier and more effectively, resulting in healthier people everywhere, every day.

truscreen®
a world without cervical cancer
TruScreen Group Ltd | NZBN 9429030105614
TRU.NZ | TRU.AX | info@truscreen.com
Suite 3.03 18-20 Orion Road, Lane Cove, NSW 2066, Australia
CE
ISO 13485
NATIONAL MEDICAL PRODUCTS ADMINISTRATION
00 00 00 00 00 00 00 00

---

truscreen®
a world without cervical cancer
^{}[]
TrUScreen Group Ltd | NZBN 9429030105614
TRU.NZ | TRU.AX | info@truscreen.com
Suite 3.03 18-20 Orion Road, Lane Cove, NSW 2066, Australia
^{}[]
a world without cervical cancer
CE
ISO 14001
NATIONAL MEDICAL PRODUCTS ADMINISTRATION
^{}[]

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TRUSCREEN GROUP LIMITED

Preliminary Final Report

Consolidated Financial Statements - Unaudited

Currency is New Zealand Dollars

For the Year Ended 31 March 2026

Contents

Consolidated Summary of Profit or Loss and Other Comprehensive Income	2
Consolidated Statement of Financial Position	3
Consolidated Statement of Changes in Equity	4
Consolidated Statement of Cash Flows	5
Notes to the Financial Statements	6

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TRUSCREEN GROUP LIMITED
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026

| | Note | 2026
$ | 2025
$ |
| --- | --- | --- | --- |
| Revenue from the sale of goods | 3 | 2,434,476 | 1,712,052 |
| Other income | 3 | 394,534 | 393,203 |
| Product cost of goods sold | | (1,666,675) | (1,196,832) |
| Employee benefit expenses and directors’ fees | | (705,496) | (856,761) |
| Other administration costs | | (537,090) | (501,808) |
| Research and development expenses | | (929,401) | (814,614) |
| Rent | | - | (12,550) |
| Travel | | (101,501) | (74,402) |
| Marketing and product approvals | | (710,847) | (627,860) |
| Insurance | | (142,608) | (140,162) |
| Shareholder relations and services | | (236,730) | (107,064) |
| Share based payments | | (36,829) | - |
| Borrowing cost | | (14,575) | (16,678) |
| Loss before income tax | | (2,252,742) | (2,243,476) |
| Income tax expense | | - | - |
| Loss for the year | | (2,252,742) | (2,243,476) |
| Other comprehensive income | | | |
| Item that may be reclassified subsequently to profit or loss | | | |
| Exchange differences on translating foreign subsidiary operations | | 169,531 | (46,268) |
| | | 169,531 | (46,268) |
| Total comprehensive loss for the year | | (2,083,211) | (2,289,744) |
| Basic and diluted loss per share (cents) | 4 | (0.032) | (0.41) |

The accompanying notes form part of these financial statements.

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TRUSCREEN GROUP LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

| | Note | 2026
$ | 2025
$ |
| --- | --- | --- | --- |
| CURRENT ASSETS | | | |
| Cash and cash equivalents | | 1,462,603 | 365,473 |
| Other receivables | | 396,916 | 411,012 |
| Trade receivables | | 1,026,962 | 22,798 |
| Inventories | | 451,943 | 538,679 |
| Other current assets – prepayments | | 225,064 | 203,544 |
| TOTAL CURRENT ASSETS | | 3,563,488 | 1,541,506 |
| NON-CURRENT ASSETS | | | |
| Intangible assets | | - | - |
| Right of use assets | | 185,377 | 306,851 |
| TOTAL NON-CURRENT ASSETS | | 185,377 | 306,851 |
| TOTAL ASSETS | | 3,748,865 | 1,848,357 |
| CURRENT LIABILITIES | | | |
| Trade and other payables | | 813,211 | 387,317 |
| Lease liability | | 159,112 | 133,211 |
| Provision for employee benefits | | 109,511 | 104,096 |
| TOTAL CURRENT LIABILITIES | | 1,081,834 | 624,624 |
| NON-CURRENT LIABILITIES | | | |
| Provision for employee benefits | | 39,986 | 31,190 |
| Lease liability | | 41,583 | 184,161 |
| TOTAL NON-CURRENT LIABILITIES | | 81,569 | 215,351 |
| TOTAL LIABILITIES | | 1,163,403 | 839,975 |
| NET ASSETS | | 2,585,462 | 1,008,382 |
| EQUITY | | | |
| Issued capital | 5 | 42,432,428 | 38,772,137 |
| Share option reserve | | 41,374 | 89,643 |
| Foreign currency translation reserve | | (213,865) | (383,396) |
| Accumulated losses | | (39,674,476) | (37,470,002) |
| TOTAL EQUITY | | 2,585,462 | 1,008,382 |

The accompanying notes form part of these financial statements.

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TRUSCREEN GROUP LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2026

	Note	Share Capital $	Accumulated Losses $	Foreign Currency Translation Reserve $	Option Reserve $	Total $
Balance at 1 April 2025		38,772,137	(37,470,002)	(383,396)	89,643	1,008,382
Loss for the year to 31 March 2026		-	(2,252,742)	-	-	(2,252,742)
Exchange differences on translating foreign subsidiary operations		-	-	169,531	-	169,531
Total comprehensive income for the year		-	(2,252,742)	169,531	-	(2,083,211)
Transactions with owners, in their capacity as owners
Issue of shares		4,048,018	-	-	-	4,048,018
Share issue costs		(387,727)	-	-	-	(387,727)
Share based payments		-	48,269	-	(48,269)	-
Total transactions with owners		3,660,291	48,269	-	(48,269)	3,660,291
Balance at 31 March 2026		42,432,428	(39,674,476)	(213,865)	41,374	2,585,462
	Note	Share Capital $	Accumulated Losses $	Foreign Currency Translation Reserve $	Option Reserve $	Total $
Balance at 1 April 2024		38,705,945	(35,371,339)	(337,128)	234,456	3,231,934
Loss for the year to 31 March 2024		-	(2,243,476)	-	-	(2,243,476)
Exchange differences on translating foreign subsidiary operations		-	-	(46,268)	-	(46,268)
Total comprehensive income for the year		-	(2,243,476)	(46,268)	-	(2,289,744)
Transactions with owners, in their capacity as owners
Issue of shares		66,192	-	-	-	66,192
Share issue costs		-	-	-	-	-
Share based payments		-	144,813	-	(144,813)	-
Total transactions with owners		66,192	144,813	-	(144,813)	66,192
Balance at 31 March 2025		38,772,137	(37,470,002)	(383,396)	89,643	1,008,382

The accompanying notes form part of these financial statements.

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TRUSCREEN GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026

| | Note | 2026
$ | 2025
$ |
| --- | --- | --- | --- |
| CASH FLOW FROM OPERATING ACTIVITIES | | | |
| Cash received from customers | | 1,472,115 | 1,716,718 |
| Cash paid to suppliers and employees including GST | | (4,429,805) | (4,416,220) |
| Cash received from research and development tax offset | | 482,719 | 447,140 |
| Short-term lease payments not included in lease liability | | - | (38,490) |
| Interest paid | | (2,009) | (3,296) |
| Interest received | | 6,213 | 4,842 |
| Net cash used in operating activities | | (2,470,767) | (2,289,306) |
| CASH FLOW TO INVESTING ACTIVITIES | | | |
| Purchase of plant and equipment | | - | - |
| Net cash used in investing activities | | - | - |
| CASH FLOW FROM FINANCING ACTIVITIES | | | |
| Proceeds from issue of shares | | 3,989,671 | - |
| Share issue costs | | (375,268) | - |
| Principal element of lease payments | | (121,057) | (84,398) |
| Net cash from financing activities | | 3,493,346 | (84,398) |
| Net increase/(decrease) in cash and cash equivalents | | 1,022,580 | (2,373,704) |
| Cash and cash equivalents at the beginning of the financial year | | 365,473 | 2,728,036 |
| Effects of exchange rate changes on cash and cash equivalents | | 74,550 | 11,141 |
| Cash and cash equivalents at the end of the financial year | | 1,462,603 | 365,473 |

The accompanying notes form part of these financial statements.

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6

NOTE 1. MATERIAL ACCOUNTING POLICY INFORMATION

General Information

These preliminary final unaudited consolidated financial statements and notes represent those of Truscreen Group Limited and its subsidiaries (the "Group"). References to "Truscreen" is used to refer to Truscreen Group Limited (the "Company").

The parent company, Truscreen Group Limited, is the ultimate legal parent company of the Group and is a limited liability company incorporated and domiciled in New Zealand. It is registered under the Companies Act 1993. Truscreen is listed on the NZX and on the ASX as an ASX Foreign Exempt Listing. Truscreen is a FMC reporting entity under Part 7 of the Financial Markets Conduct Act 2013.

The registered office of the Company is Level 6 Equitable House, 57 Symonds St, Grafton, Auckland 1010, New Zealand. The Group is engaged in the business of the development, manufacture and sale of cancer detection devices and systems.

Basis of Preparation

These preliminary final financial statements have been prepared under the historical costs convention, modified by the revaluation of certain assets and liabilities as identified in specific accounting policies below.

The principal accounting policies adopted in the preparation of the financial report are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

The financial statements have been rounded to the nearest dollar.

Going Concern

The Group preliminary final unaudited financial statements have been prepared on a going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the normal course of business.

As disclosed in the financial statements, the Group reports;

• a loss of $2,252,742 (2025: $2,243,476).
• net cash outflows from operating and investing activities of $2,470,766 (2025: $2,289,306)
• cash at year-end of $1,462,603 (2025: $365,473)

The Company undertook a capital raise in May 2026 raising approximately $1.82 million in a share placement and with further funds expected in a Renounceable Rights issue to be completed on the 17 June 2026.

The Directors have undertaken a detailed cash flow forecast for the twelve months following the date of approval of this report, which shows that the business will be able to meet its debts as and when they fall due, for at least the next twelve months. The forecasts assume revenue growth from a number of markets, and takes into account current expectations of device and SUS orders from key distributors.

The Company also continues to review and reduce its cost base where appropriate.

The Board considers the cash flow forecasts to be achievable and sufficient to provide cash to cover any operating deficit and capital expenditure. The Board consider managing cash flow and working capital critical in successfully executing the strategies to achieve the business model of the Group. However, there is material uncertainty in relation to the Group's ability to meet forecasts. These factors may cast significant doubt on the entity's ability to continue as a going concern.

If the going concern assumption is not valid, the consequence is the Group may be unable to realise the value in its assets and discharge its liabilities in the normal course of business.

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7

NOTE 2. SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS

The Company makes estimates and assumptions concerning the future that affects the amounts reported in the financial statements. Estimates and judgments are continually evaluated and based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities within the next financial year are discussed below:

• Going Concern

Refer to note 1.

• Revenue from Contracts with Customers

The application of NZ IFRS 15: Revenue from contracts with customers (NZ IFRS 15) requires the Directors to apply judgement in determining whether revenue can be recognised in advance of the receipt of cash.

The significant judgements adopted by the Group in applying NZ IFRS 15 criteria include:

• Determining if a contract with the customer exists;
• Determining if the entity can identify the payment terms for the services; and

• Determining whether it is probable that the entity will collect the consideration to which it is entitled.

• Intangibles

The carrying value of intangibles include acquired intellectual property and development costs capitalised in accordance with the accounting policy for research and development.

The intangibles were fully written off in a previous year.

Given the ongoing significant uncertainty associated with achieving revenue and profitability targets, the Directors have determined that the intangibles should remain fully impaired as at 31 March 2026.

• Recognition of deferred taxation assets

The benefit of deferred tax arising from tax losses and temporary differences has not been recognised.

• Estimate of the Research and Development tax offset

The Group receives a research and development tax offset based on 43.5% of research and development expenditure incurred. The amount is received following filing of the Group income tax returns. The Group estimates the amount of the offset assisted by external consultants and accounts for the amount as a receivable at year end.

• Provision for inventory obsolescence

The Group carries inventory of parts for the manufacture of the TruScreen Ultra® cervical cancer screening device. The Company will write off parts which it no longer considers usable. The Group has made a general provision for inventory obsolescence.

• Provision for warranty

The Group will undertake recalibration of the TruScreen Ultra® on an ongoing basis during the warranty period. While the Group will continue to undertake research and development of the product, the TruScreen Ultra® is a mature and well tested product and the Group has determined on the basis of materiality that no warranty provision is necessary.

• Share based payments

The Group measures the cost of equity-settled transactions with directors, employees and distributors by reference to the fair value of the equity instruments at the date at which they are granted. The fair value is determined using a Black-Scholes model.

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8

NOTE 3. REVENUE

	2026	2025
	$	$
Sales revenue - sale of goods¹
Wholesalers/distributors	1,902,752	1,712,052
Direct to customer	531,724	-
	2,434,476	1,712,052
Other income
Research and development tax offset
- Current year	303,550	383,236
- Prior year adjustment	85,799	(20,885)
	389,349	362,351
Foreign exchange gain	-	26,297
Interest received	5,185	4,555
	394,534	393,203

¹Ownership of goods transfers to the distributor/customer on leaving Truscreen’s premises or that of the outsourced manufacturer when shipped directly to customers.

NOTE 4. EARNINGS PER SHARE

	2026	2025
Basic and Diluted loss per share:
Net loss attributable to shareholders ($)	(2,252,742)	(2,243,476)
Weighted average number of ordinary shares on issue	700,894,546	552,743,441
Basic and diluted loss per share (cents) (based on weighted average number of shares on issue)	(0.32)	(0.41)

NOTE 5. ISSUED CAPITAL

a) Ordinary Shares – Fully Paid

Group	2026 Number	2026 $	2025 Number	2025 $
Balance at beginning of the year	554,907,719	38,772,137	552,591,116	38,705,945
Share issue - advisor	-	-	2,316,603	66,192
Shares issued for services rendered	1,701,576	35,702	-	-
Share purchase plan @ NZ$0.02 per share	83,681,940	1,673,639	-	-
Share placement @ NZ$0.022 per share	107,034,091	2,354,750	-	-
Foreign exchange adjustment on A$ raise	-	(16,073)	-	-
Cost of capital raising	-	(387,727)	-	-
Balance at end of the year	747,325,326	42,432,428	554,907,719	38,772,137

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9

NOTE 5. ISSUED CAPITAL (Continued)

No particular number of shares are authorised. There is no par value of shares.

All issued ordinary shares carry equal rights in respect of voting and the receipt of dividends, and upon winding up rank equally with regard to the Company’s residual assets.

b) Options

The Company issued 204,741,031 unlisted options on 17 July 2025. The options were free attaching options to the share placement and share purchase plan announced on 29 May 2025.

The options have an exercise price of NZ$0.022 (A$0.02) and an expiry date of 17 July 2026. The expiry date of these options has now been extended to 17 July 2027.

NOTE 6. CASH FLOW INFORMATION	2026	2025
	$	$
Reconciliation of cash flow from operations with loss after income tax
Loss for the period	(2,252,742)	(2,243,476)
Adjusted for:
Share based payment expense	36,829	-
Depreciation right of use assets	140,065	102,061
Unrealised exchange difference arising from translating loss	49,715	(8,894)
Operating cash flows before working capital changes	(2,026,133)	(2,150,309)
(Increase)/decrease in trade and other receivables	(1,004,163)	25,354
Increase in goods and services taxes recoverable	(50,454)	(2,182)
Increase in prepayments	(21,521)	(85,941)
Decrease/increase in inventory	86,737	(47,425)
Decrease in research and development tax offset	64,550	80,506
Increase/(decrease) in trade and other payables	466,006	(99,880)
Increase/(decrease) in employee liabilities	14,211	(9,429)
Net cash outflow from operating activities	(2,470,767)	(2,289,306)