Announcement PDF ASX Announcement 29 October 2024 Q1 FY25 Quarterly Investor Presentation & Webinar Microba Life Sciences Limited (ASX: MAP) (“Microba” or the “Company”) is pleased to provide below its Q1 FY25 Investor Presentation and details of the Quarterly Investor Video Presentation with CEO Dr Luke Reid presenting. Quarterly Investor Video Presentation Presenting: CEO, Dr Luke Reid Webinar Access: The Quarterly Investor Video Presentation can now be accessed on demand via Microba’s Investor Hub at the following link https://ir.microba.com/link/WrAqjr Investor Q&As We invite investors and interested parties to submit questions on the Quarterly Investor Presentation & Video Presentation through the ‘Ask a question’ section of Microba’s interactive investor platform by following this link: 'Ask a question' This announcement has been authorised for release by the Board of Directors For further information, please contact: Dr Luke Reid Chief Executive Officer luke.reid@microba.com https://ir.microba.com/welcome About Microba Life Sciences Limited Microba Life Sciences is a precision microbiome company driven to improve human health. With world-leading technology for measuring the human gut microbiome, Microba is driving the discovery and development of novel therapeutics for major chronic diseases and delivering gut microbiome testing services globally to researchers, clinicians, and consumers. Through partnerships with leading organisations, Microba is powering the discovery of new relationships between the microbiome, health and disease for the development of new health solutions. For more information visit www.microba.com JOIN MICROBA’S INTERACTIVE INVESTOR HUB For more Company information and to engage with management by asking questions about Microba’s latest announcements and updates, visit ir.microba.com/welcome Microba Life Sciences Ltd ABN 82 617 096 652 | Level 10, 324 Queen Street, Brisbane QLD 4000 Australia | 1300 974 621 At the forefront of microbiome diagnostics & therapeutics Q1 FY25 Results ASX: MAP 29 OCTOBER 2024 Authorised for release by the Board of Directors Disclaimer This presentation (Presentation) has been prepared by Microba Life Sciences Limited (Microba). Summary information - This Presentation contains summary information about Microba and its activities which is current only as at the date of release of this Presentation. Microba may in its absolute discretion, but without being under any obligation to do so, update or supplement this Presentation. The information in this Presentation is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Microba or that would be required in a prospectus or other disclosure document prepared in accordance with the requirements of the Corporations Act 2001 (Cth) (Corporations Act). Industry and market data – In this Presentation, Microba refers to certain market, industry, and statistical data used in connection with this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither Microba nor its representatives have independently verified any such data and no representation or warranty, express or implied, is made as to its fairness, accuracy, correctness, completeness or adequacy. Some data is also based on the good faith estimates of Microba, which are derived its reviews of internal sources as well as the independent sources described above. Not an offer - This Presentation is not a prospectus or other disclosure document under the Corporations Act and will not be lodged with the Australian Securities and Investments Commission. This Presentation is for information purposes only and is not an invitation or offer of securities for subscription, purchase or sale in any jurisdiction. The distribution of this Presentation (including electronically) outside Australia may be restricted by law. If you come into possession of this Presentation, you should observe such restrictions and should seek your own advice. Any non-compliance with these restrictions may contravene applicable securities laws. Not investment or medical advice - The information contained in this Presentation is not investment, financial product advice, medical advice or any medical recommendation or recommendation to acquire Shares. This Presentation has been prepared without taking into account your investment objectives, financial situation, medical or any other particular needs This Presentation does not and will not form any part of any contract for the acquisition of shares. Each recipient of this Presentation should make its own enquiries and investigations regarding all information in this Presentation. Before making an investment decision, you should consider whether it is a suitable investment for you in light of your own investment objectives, financial situation and particular needs and having regard to the merits or risks involved. Independent financial advice is recommended. Future performance - This Presentation contains forward looking statements. Forward-looking statements generally relate to current expectations, hopes, beliefs, intentions, strategies or productions about future events or Microba's future financial or operating performance. For example, statements regarding anticipated growth in the industry in which Microba operates and anticipated growth in demand for Microba's products and services, projections of Microba's future financial results and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "pro forma", "may", "should", "could", "might", "plan", "possible", "project", "strive", "budget", "forecast", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forwardlooking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance and may involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Microba. You are cautioned not to place undue reliance on any forward looking statement. Forward looking statements in this Presentation are based on assumptions and contingencies which are subject to change without notice. Actual results, performance or achievements may vary materially from any forward looking statements and the assumptions on which statements are based. The forward looking statements in this Presentation are based on information available to Microba as at the date of this Presentation and nothing in this Presentation should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Except as required by law or regulation, Microba undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Financial data – All dollar values in Australian dollars (A$ or $) unless otherwise stated. Recipients should note that this Presentation contains historical and pro-forma financial information. Any financial information provided in this Presentation is for illustrative purposes only and is not represented as being indicative of Microba’s views on its future financial condition and/or performance. Trademarks – This Presentation may contain trademarks, trade names and copyrights of other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, trade names and copyrights referred to in this Presentation may be listed without the © or ® symbols, but Microba asserts, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, trade names and copyright. Disclaimer - Except for any statutory liability which cannot be excluded, Microba, its related bodies corporate and their respective officers, employees and advisers expressly disclaim all liability (including negligence) for any direct or indirect loss or damage which may be suffered by any person in relation to, and take no responsibility for, any information in this Presentation or any error or omission therefrom, and make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of this Presentation. 2 3 Q1 Results Financial Highlights Q1 Financial Highlights 4 Significant growth in revenue and cash receipts on PCP Revenue $3.65m (+ 239% vs PCP) | Cash Receipts $5.07m (+184% vs PCP) Q1 Revenue (A$m) Q1 Cash Receipts (A$m) +239% +184% 3.65 3.39 Group Revenue of $3.65m in Q1 FY25 (+239% vs PCP) • Personal Testing & Supplements revenue of $3.39m (+316% vs PCP) 5.07 +316% • Research Testing revenue of $0.26m (-1% vs PCP) 1.07 1.78 0.81 0.26 0.26 Q1 FY24 Q1 FY25 -1% Q1 FY24 Q1 FY25 Cash Receipts of $5.07m (+184% vs PCP) Q1 Financial Highlights 5 Australian Testing Business – MetaXplore sales momentum continues to accelerate 1,832 MetaXplore tests sold (+101% vs PCP) | 487 Ordering Clinicians (+81% vs PCP) MetaXplore Sales - Australia 3500 8000 3000 7000 6000 2500 5000 2000 4000 1500 Q1 annualised run rate of 7,328 MetaXplore tests sold 3000 1000 2000 500 0 Australia: Continued strong sales momentum for MetaXplore 1000 2HFY23 Tests sold by Half Year (LHS) 1HFY24 2HFY24 Q1FY25 Tests sold (LHS) Q1FY25 Q1FY25 Annualised run-rate (RHS) 0 Strong start in Q2, with October a record sales month as of the 25th, with a week left in the month Q1 Financial Highlights 6 UK Business – Sales team in transition phase ahead of MetaXplore Launch in October 31,944 supplements sold (+3.6% vs PCP) | 1,740 tests sold (-13.6% vs PCP) | 771 ordering clinicians (-2% vs PCP) Invivo Supplement Sales Volumes Invivo Test Sales Volumes Transitioning to a new growth phase in H2 FY25. 2,500 35,000 MetaXplore access commenced in October 2024 with first orders already received. 30,000 2,000 25,000 1,500 20,000 15,000 Team focus on transition to MetaXplore sales impacted Q1 testing volume, October already ahead of September sales as of 25th Oct 1,000 10,000 500 5,000 - Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 - Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q1 Financial Highlights 7 Record Q1 revenue, strong sales momentum in Australia, primed for UK growth Revenue by Quarter Record Q1 revenue, with MetaXplore adoption and revenue continuing to accelerate in Australia $6,000,000 +239% $5,000,000 • $4,000,000 $3,000,000 $2,000,000 MetaXplore sales commenced in the UK in October, with first orders already received $1,000,000 $- offsetting the historical impact of seasonal softness due to holiday periods in both northern and southern hemispheres impacting Q1 vs Q4 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 8 Q4 Results Business Highlights Recent Milestones & Highlights 9 TESTING THERAPEUTICS 1) Australia: Continued strong sales momentum for MetaXplore. 1) Inflammatory Bowel Disease Program - 1,832 tests sold, up 101% vs PCP 487 ordering clinicians, up vs 81% PCP 2) MetaPanel sales continuing to build across all major states through the Sonic Healthcare (ASX: SHL) network. - MetaPanel presented at Australian Gastroenterology Week 3) United Kingdom: Invivo Clinical transitioning to a new growth phase - MetaXplore access commenced in Oct with first MetaXplore orders received Sales force doubled at end of quarter 4) Team appointments - Eric Davis, Ex Abbott and Cochlear, appointed as Chief Growth Officer Chris Saad, Ex Uber, appointed as Chief Product Officer Advancing MAP315 to Phase 2. 2) Immuno-Oncology Program Clinical data and sample set grown to >4,500 patients. 3) Autoimmune Program Generated pre-clinical data supporting lead activity. Accelerating growth through strategic appointments Eric Davis Chief Growth Officer 10 Chris Saad Chief Product Officer Growing MetaXplore sales and clinical adoption in Australia MetaXplore Test Sales Volume 11 MetaXplore Ordering Clinicians 723 2,935 487 436 1,832 1,841 181 H1 FY24 Australia H2 FY24 Q1 FY25 H2 FY23 H1 FY24 1,832 tests sold, up 101% vs PCP. • 487 ordering clinicians, up 81% vs PCP • Growth activities: - Targeted sales and marketing activities focused on high prescribing potential clinicians - Clinician education - KOL engagement - Utility studies and publications 984 H2 FY23 • H2 FY24 Q1 FY25 MetaPanel sales building across Australia Australia • Doctor referrals and sales continuing to build monthly across the country, focused around the major east coast states New South Wales, Victoria and Queensland. • Assoc. Prof. Michael Wehrhahn from Douglass Hanly Moir (Sonic Healthcare NSW) presented at Gastroenterology Week 2024 . The leading event of the year for Gastroenterologists. • Growth activities: - Targeted sales and marketing activities focused on gastroenterology specialists and general practice - Clinician education - KOL engagement - Utility studies and publications 12 Transitioning to growth in the United Kingdom The fundamental investment thesis of the Invivo Clinical acquisition was the ability to accelerate Microba’s entry of it’s world leading MetaXplore test into the United Kingdom through an established team and customer base. The UK market demand and anticipation for access to MetaXplore has been compelling since the acquisition was announced. “From our leading position in market, we expect Microba’s world leading MetaXplore will become the most favoured microbiome test for healthcare professionals in the UK” Quote from Invivo Head of Clinical Innovation United Kingdom The team have now commenced MetaXplore access in the UK in October with first orders already received, setting up for full market access in 2025. Supporting the UK growth strategy, the Invivo sales force was doubled at the end of the quarter. This focus and investment are expected to translate into growth in H2 FY25. 13 Therapeutic Development Programs continue to advance Core Program IBD (Ulcerative Colitis) Discovery R&D Undisclosed (LBP) Preclinical Phase 1 Phase 2 • Inflammatory Bowel Disease Program - Advancing MAP315 to Phase 2. • Immuno-Oncology Program - Clinical data and sample set grown to >4,500 patients supporting this program. • Autoimmune Program - Generated pre-clinical data supporting lead activity. MAP 315 (LBP) Immunooncology Undisclosed (LBP) Autoimmune Undisclosed (LBP) 14 15 Key areas of focus Financial Snapshot Diagnostics  Australia - diagnostic sales growth and clinical adoption  United Kingdom - diagnostic test launch ASX Code MAP Market capitalisation1 $74m Shares on issue 447.85m 52-week low / high1 Cash Balance (30 Sep 2024) $0.145 / $0.349 $16.4m  United States - US reimbursement path Major Shareholders Therapeutics  IBD therapeutic Phase 2 trial  Therapeutic asset partnering 1 At 28 October 2024 | 2 At 30 June 2024 Shareholder Ownership %2 Sonic Healthcare 19.14% Perennial 14.32% SA Microba Holdings 7.48% Thorney Investment Group 6.69% Macrogen 3.98% Philip Hugenholtz 3.84% Gene Tyson 3.82% 16 Company snapshot Unequivocal evidence demonstrates that the human gut microbiome is a critical component of disease >21,000 Research publications demonstrate a clear link between chronic diseases and the gut microbiome1 1 PubMed search terms "gut microbiome/microbiota" or "stool microbiome/microbiota" or "faecal microbiome/microbiota" and "disease" 17 Changing the microbiome can change disease outcomes >150 Global clinical studies demonstrate that microbiome modulation can influence disease outcomes and clinical symptoms1 Infectious Disease Inflammatory Disease Autoimmune Disease Cancer Mental Health Metabolic Disorders Heart Disease Neurodegenerative Disease 1 PubMed search terms "gut microbiome" and "modulate" and "clinical study" and manually selecting for clinical trials with positive results indicated in the abstracts. 18 Company snapshot TESTING/ DIAGNOSTICS THERAPEUTICS 19 Continuous YoY revenue growth over 6 years of operations 2 diagnostic products opening a new category with an estimated US $15B global addressable market Partnerships with market leaders incl. Sonic Healthcare (ASX: SHL), SYNLAB (GR:SYAB) + more Clinical stage therapeutic lead candidate advancing to Phase 2 clinical trial World-class team 20 Microba Diagnostics 21 Our diagnostics vision: To combat disease through microbiome health 22 Our diagnostics focus Patients suffering from gastrointestinal disease → Gastrointestinal Mental Cardiovascular Oncology Longevity Fertility Gastrointestinal Disease Half of patients are not getting a resolution 37,310,000 Patients presenting annually in the US with lower GI abdominal symptoms* 21,500,000 Pain, bloating, other 15,370,000 53% Resolved 23 47% Unresolved Diarrhoea 440,000 IBD % of patients achieving resolution of gastrointestinal symptoms after 5 years** * Assessment of Medicare claims analysis. Estimated Private and Medicaid numbers extrapolated from Medicare claims analysis completed with Boston based MedTech specialist consultancy Veranex Inc. ** Gordon, J., Miller, G., & Valenti, L. (2015). The management of unresolved gastrointestinal symptoms in Australian general practice. Australian Family Physician, 44(9), 621-623 *** Addressing the GI symptom challenge Microba’s comprehensive diagnostic products First line Diagnosing pathogenic causes of GI symptoms Gastrointestinal pathogen test Launched March 2024  Stool DNA test.  175 targets.  Expertly curated clinical recommendations for targeted treatment. Second line Identifying functional causes and treatment options for non-pathogenic GI symptoms Gastrointestinal disorder test Launched February 2023  Stool DNA + targeted biomarker test.  7 functional GI markers. >28k microbiome markers.  Expertly curated clinical recommendations for personalised treatment. 24 Getting answers for patients in need Closing the gap on GI symptom diagnosis and treatment 100% 47% 28% new insights with * 50% ** 24% new diagnoses with Unresolved ** 0% % of patients achieving resolution of gastrointestinal symptoms after 5 years 52% receiving critical new diagnoses and treatment recommendation for these patients. * Study of first 17 months of MetaXplore test results in clinical practice in Australia ** Study of first 4 months of MetaPanel test results in clinical practice in Australia 25 A multi-billion dollar market opportunity $15B+ US Total Addressable Market* * Assessment of Medicare claims analysis. Estimated Private and Medicaid numbers extrapolated from Medicare claims analysis completed with Boston based MedTech specialist consultancy Veranex Inc. Assumes minimum revenue per test of US $416.78 aligned to CPT code 57507. This is viewed to be the minimum with the top pricing predicate at US $2126.20 26 Transforming standard of care 27 A paradigm shift “After the first 4 months using the MetaPanel test, 24% of patients have been diagnosed with a pathogen that would have been undiagnosed or experienced delayed time to diagnosis and resolution. This is a breakthrough in infectious disease management” Dr Michael Wehrhahn BSc (Med) MBBS (Hons) MPH (Hons) FRACP FRCPA Clinical Microbiologist, Infectious Disease Physician & Director of Molecular Biology Changing lives every day “Before completing the MetaXplore test with my practitioner, my health was in constant distress. I looked and felt bloated all the time, to the point of appearing six months pregnant. My severe constipation led to bowel movements only every 5-6 days with trapped gas causing extreme pain. After completing the MetaXplore test and implementing my treatment plan, I have experienced remarkable improvements. My bowel movements are now regular, averaging every 2-3 days. The trapped gas and extreme pain are gone, significantly improving my daily life. With adherence to the treatment plan, I no longer suffer from bloating, pain, reflux, or indigestion” 28 MetaXplore patient Changing lives every day “I have struggled with gastrointestinal symptoms for over half my life. I have tried resolving with many specialists, restrictive eating plans and natural therapies. My MetaXplore test this year identified clear problems and a personalised treatment plan. I am grateful that through following the treatment plan I have achieved complete resolution to my symptoms and can enjoy eating unrestricted for the first time in 35 years.” 29 MetaXplore patient Microba Therapeutics 31 Our Therapeutics Vision To combat disease through microbiome health 31 32 Our primary therapeutic focus Clinical: Patients suffering from Inflammatory Bowel Disease Autoimmune Oncology Allergy Neuro Cardiovascular → Gastrointestinal 32 33 Microba is Pioneering an Advanced AI/ML Approach For the Development of Next Generation Precision Live Biotherapeutics Target Prediction Disease Relevant Activity Disease Prevalence Donor Isolation Human Data Driven Precision Microbiome Therapeutics AI & Machine Learning Health Data Biome Data Species Identification >60,000 metagenomes* >1,000 health indicators/participant >1M Genomes >100M Genes >100K species *Derived from both internal and external data In Silico Analysis Supportive Bioactivity >100TB of DNA data 8,000B alignments 200M CPU hours processing time 20K vCPUs, 50TB RAM >9,000 isolated strains >500 species isolated in total >200 previously uncultured species isolated 1 Phase II ready asset Multiple pre-clinical leads 33 34 Therapeutic pipeline & catalysts Core Program IBD (Ulcerative Colitis) Discovery R&D Phase 1 MAP 315 (LBP) Phase 2 Development Partners Phase 2 IND submission currently being compiled Undisclosed (LBP) Immuno-oncology Undisclosed (LBP) Autoimmune Undisclosed (LBP) LBP = Live Biotherapeutic Product Preclinical Pre-clinical biology supporting lead candidate selection Laboratory & animal model experiments confirming activity 34 Recent IBD Transactions Stage Upfront Total Deal Value Acquisition Phase 2 - US$3.2B June 2024 License Preclinical $150m US$1.7B October 2023 Acquisition Phase 2 - US$7.2B October 2023 License Phase 2b $500m US$1.5B Apr 2023 Acquisition Phase 2A - US$10.8B Date Deal Type July 2024 Licensee / Acquiror 35 Licensor / Target active complete active complete https://www.reuters.com/markets/deals/eli-lilly-acquire-morphic-holding-32-billion-2024-07-08/ , https://www.reuters.com/business/healthcare-pharmaceuticals/abbvie-inks-immune-disorder-drug-licensingdeal-with-chinas-futuregen-2024-06-13/ , https://investor.roivant.com/news-releases/news-release-details/roche-enters-definitive-agreement-acquire-telavant-including , https://www.sanofi.com/en/mediaroom/press-releases/2023/2023-10-04-05-00-00-2754288 , https://www.merck.com/news/merck-completes-acquisition-of-prometheus-biosciences-inc/ 35 Dr Luke Reid Chief Executive Officer luke.reid@microba.com CONTACT Head Office Level 10, 324 Queen Street Brisbane QLD Australia Pasquale Rombola Chairman pasquale.rombola@microba.com Laboratory Princess Alexandra Hospital Woolloongabba QLD Australia 37 Appendix Patient pathway — Advancing the standard of care for GI symptoms Colonoscopy for formal IBD or CRC diagnosis and treatment Targeted antibiotic treatment New Microba care pathway If negative Current standard of care Is it a pathogen causing these symptoms? IBD risk test faecal calprotectin ELISA If negative If positive Broad spectrum antibiotic treatment DGBI Expect psychogenic IBS. Referred for mental health support Is this a functional GI disorder or mental health disorder? Is there risk of IBD or CRC? 10-22 pathogen PCR test IBD = Inflammatory Bowel Disease, CRC = Colorectal Cancer, IBS = Irritable Bowel Syndrome If negative Comprehensive gastrointestinal disorder test 175 targets Patient presents with GI symptoms. Functional microbiome or GI disorder diagnosis with personalised treatment plan If positive If positive Broadest pathogen test available and /or 38 CRC risk test FIT or FOBT If negative IBS Diagnosis by exclusion + IBS If positive Colonoscopy for formal IBD or CRC diagnosis and treatment Non-specific diet and mental health support Two core business segments driven by a world leading technology Testing Business Next generation gastrointestinal diagnostics 2 clinical tests. GASTROINTESTINAL PATHOGEN TEST GASTROINTESTINAL DISORDERS TEST World leading microbiome analysis technology Proprietary databank Advanced AI and biostatistics powering a diagnostics and therapeutics platform Therapeutics Business Precision microbiome therapeutics Data driven therapeutic development platform. ADVANCED AI/ML APPROACH UNDERPINNED BY WORLD LEADING TECHNOLOGY PRIMARY TARGET CLINICIANS Gastroenterologists General Practitioners Other Specialists DIRECT TO PRACTITIONER CHANNEL PRIMARY TARGET CLINICIANS Integrative General Practitioners Integrative Specialists Dieticians Nutritionists Naturopathic practitioners NOVEL PIPELINE OF MICROBIOME THERAPIES – POTENT, ORAL DELIVERY, SAFE & MANUFACTURABLE 3 therapeutic programs. 2 channels to market. PATHOLOGY PARTNER CHANNEL 39 INFLAMMATORY BOWEL DISEASE PROGRAM IMMUNO-ONCOLOGY PROGRAM AUTOIMMUNE DISEASE PROGRAM CLINICAL INDICATION CLINICAL INDICATION Multiple cancers to enhance check-point inhibitor treatment response CLINICAL INDICATION Lupus, psoriatic arthritis & autoimmune liver disease Mild-moderate Ulcerative Colitis DEVELOPMENT STAGE Phase 1 Complete Phase 2 IND DEVELOPMENT STAGE Pre-clinical. Lead candidate selection DEVELOPMENT STAGE Pre-clinical. Lead candidate selection Microba is developing the 3rd Generation of Microbiome Therapeutics using a human data driven approach 1 First Generation Faecal Doner Derived & FMT 2 Second Generation Bacterial Consortia FDA approval Nov 30 2022 Faecal doner derived enema drug product Vedanta Biosciences Vedanta Biosciences Raises $106.5M in Funding FDA approval April 27 2023 Faecal doner derived oral capsule drug product SER-155 Phase Ib showing engraftment reduction in pathogens 40 3 Next Generation Single Strain & Small Molecule Microba MAP 315 Phase I IBD Advancing oncology & autoimmune pipeline 40