Announcement PDF Proposed issue of securities Update Summary Entity name MICROBA LIFE SCIENCES LIMITED Announcement Type Update to previous announcement Date of this announcement 23/10/2023 Reason for update to a previous announcement To provide an update that Microba has entered into an Underwriting Agreement with Bell Potter Securities Limited and Morgans Corporate Limited such that the Entitlement Offer is now fully underwritten. Refer to next page for full details of the announcement Proposed issue of securities 1/7 Proposed issue of securities Part 1 - Entity and announcement details 1.1 Name of +Entity MICROBA LIFE SCIENCES 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 Registration Number ACN 617096652 1.3 ASX issuer code MAP 1.4 The announcement is Update/amendment to previous announcement 1.4a Reason for update to a previous announcement To provide an update that Microba has entered into an Underwriting Agreement with Bell Potter Securities Limited and Morgans Corporate Limited such that the Entitlement Offer is now fully underwritten. 1.4b Date of previous announcement to this update 19/10/2023 1.5 Date of this announcement 23/10/2023 1.6 The Proposed issue is: An accelerated offer 1.6b The proposed accelerated offer is Accelerated non-renounceable entitlement offer (commonly known as a JUMBO or ANREO) Proposed issue of securities 2/7 Proposed issue of securities 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 MAP : ORDINARY FULLY PAID Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class Will the proposed issue of this +security include an offer of attaching +securities? No If the entity has quoted company options, do the terms entitle option holders to participate on exercise? No Details of +securities proposed to be issued ASX +security code and description MAP : ORDINARY FULLY PAID ISIN Code (if Issuer is a foreign company and +securities are non CDIs) ISIN Code for the entitlement or right to participate in the offer (if Issuer is foreign company and +securities are non CDIs) Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) Has the offer ratio been determined? Yes The quantity of additional +securities For a given quantity of +securities to be issued Proposed issue of securities held 3/7 Proposed issue of securities to be issued held 1 4 What will be done with fractional entitlements? Maximum number of +securities proposed to be issued (subject to rounding) Fractions rounded up to the next whole number 86,942,037 Offer price details for retail security holders Has the offer price for the retail offer been determined? Yes In what currency will the offer be made? What is the offer price per +security for the retail offer? AUD - Australian Dollar AUD 0.23000 Offer price details for institutional security holders Has the offer price for the institutional offer been determined? Yes In what currency will the offer be made? What is the offer price per +security for the institutional offer? AUD 0.23000 AUD - Australian Dollar Oversubscription & Scale back details Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes Describe the limits on over-subscription The lower of 100% of entitlement or $50,000 of additional new shares. Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements The Company will scale back applications for additional shares in its absolute discretion. Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Proposed issue of securities 4/7 Proposed issue of securities Part 3D - Timetable 3D.1a First day of trading halt 19/10/2023 3D.1b Announcement date of accelerated offer 19/10/2023 3D.2 Trading resumes on an ex-entitlement basis (ex date) 23/10/2023 3D.5 Date offer will be made to eligible institutional +security holders 19/10/2023 3D.6 Application closing date for institutional +security holders 20/10/2023 3D.8 Announcement of results of institutional offer (The announcement should be made before the resumption of trading following the trading halt) 23/10/2023 3D.9 +Record date 23/10/2023 3D.10a Settlement date of new +securities issued under institutional entitlement offer 27/10/2023 3D.10b +Issue date for institutional +security holders 30/10/2023 3D.10c Normal trading of new +securities issued under institutional entitlement offer 31/10/2023 3D.11 Date on which offer documents will be sent to retail +security holders entitled to participate in the +pro rata issue 26/10/2023 3D.12 Offer closing date for retail +security holders 16/11/2023 3D.13 Last day to extend retail offer close date 13/11/2023 Proposed issue of securities 5/7 Proposed issue of securities 3D.19 +Issue date for retail +security holders and last day for entity to announce results of retail offer 23/11/2023 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? Bell Potter Securities Limited and Morgans Corporate Limited - Joint Lead Managers. 3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Capital raising fee 4.8% of Entitlement Offer proceeds (excluding Sonic Healthcare proceeds, which have a capital raising fee of 2.4%). Financial advisor fee to Bell Potter Securities Limited of 1.2% of the Entitlement Offer proceeds (excluding Sonic Healthcare proceeds, which have a financial advisor fee of 0.6%) 3E.2 Is the proposed offer to be underwritten? Yes 3E.2a Who are the underwriter(s)? Bell Potter Securities Limited and Morgans Corporate Limited 3E.2b What is the extent of the underwriting (ie the amount or proportion of the offer that is underwritten)? The Entitlement Offer is fully underwritten by Bell Potter Securities Limited and Morgans Corporate Limited as Joint Lead Managers. 3E.2c What fees, commissions or other consideration are payable to them for acting as underwriter(s)? The fees applicable to the underwriters acting as lead managers/brokers also apply to the lead managers in their capacity as underwriters to the Entitlement Offer as per 3E.1b above. 3E.2d Please provide a summary of the significant events that could lead to the underwriting being terminated Refer to Annexure A of the announcement released to the market on 23 October 2023 for a summary of the material terms of the Underwriting Agreement. 3E.2e Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed offer? No 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 Standard share registry, legal and other external advisers and ASX administrative fees. Proposed issue of securities 6/7 Proposed issue of securities Part 3F - Further Information 3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue To fund the cash component of the acquisition of 100% of the issued capital of Invivo Clinical, including earn-outs, international expansion, therapeutic program development and payment of transaction costs. 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 Shareholders outside Australia & New Zealand will not be eligible to participate in the Retail Entitlement Offer. The Institutional Entitlement Offer will be extended to shareholders in Australia, New Zealand, Hong Kong, Singapore and the United Kingdom. 3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities Yes 3F.5a Please provide further details of the offer to eligible beneficiaries The Entitlement Offer will be made available to nominees/custodians. The share registry will send a letter to nominees to inform beneficiaries of their entitlement, which will reflect the same jurisdictions as detailed in 3F.4 above. 3F.6 URL on the entity's website where investors can download information about the proposed issue https://microba.com/ 3F.7 Any other information the entity wishes to provide about the proposed issue Not applicable 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)? No 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 cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f) Proposed issue of securities 7/7