Slide 1: Building the platform for personalised, microbiome-based healthcare
Equity Raise Presentation Building the platform for personalised, microbiome-based healthcare ASX: MAP 12 JUNE 2026 Authorised for release by the Board of Directors Not for release to US wire services or distribution in the United States 1
Slide 2: Disclaimer
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 this Presentation. Microba may in its absolute discr
Slide 3: A focused, growing, defensible business on path to cashflow break-even
A focused, growing, defensible business on path to cashflow break-even Streamlined Growth Margin Break-even A structurally lower Continued sales Operating leverage over A clear path to cost base growth infrastructure in place cashflow break-even Supported by this equity raise. 3
Slide 4: Investment highlights
Investment highlights Delivering cashflow Large addressable Accelerating sales Expanding Therapeutics break-even market with latent and customer operating leverage primed to partner demand adoption This capital raise plus $25B1 initial TAM Core Testing products 2027 is set to be a Following multiple
Slide 5: Strong Diagnostics growth outlook
Section 1 Strong Diagnostics growth outlook MICROBA.COM MICROBA LIFE SCIENCES LTD MICROBA.COM EXPECT BETTER © ALL RIGHTS RESERVED EXPECT BETTER 5
Slide 6: Strong, continuous sales growth
11 consecutive Quarters of QoQ Strong, continuous sales growth Core Testing Sales growth $3,000,000 $2,500,000 11 Consecutive quarters of total Core Testing Sales growth $2,000,000 $1,500,000 9x Cumulative growth in Core Testing Sales (FY2023-Q4 to FY2026-Q3) $1,000,000 $500,000 106% Growth in Last
Slide 7: Organic growth set to continue
Organic growth set to continue Organic growth momentum across both core markets 99% • Australia: adoption has moved beyond innovators into early adopters via enterprise-style clinic contracts with recurring volume potential. Core testing revenue growth YoY (Q3 FY26) • United Kingdom: testing market
Slide 8: Category defining new testing product set to launch in Q3 CY26
Category defining new testing product set to launch in Q3 CY26 Supporting the resolution of complex GI symptoms – with easy-to-use clinical intelligence powered by the latest microbiome science1 • World-first complete microbiome and GI test • Designed to support the 40% of people living with an unre
Slide 9: Delivering cashflow break-even
Section 2 Delivering cashflow break-even MICROBA.COM MICROBA LIFE SCIENCES LTD MICROBA.COM EXPECT BETTER © ALL RIGHTS RESERVED EXPECT BETTER 9
Slide 10: Break-even built on infrastructure already in place
Break-even built on infrastructure already in place Each lever closes part of the gap from $1.3m monthly burn to break-even in CY2027 – delivered on infrastructure already invested, leveraging strong sales momentum. Sales & marketing efficiencies $1.3m / month 1 Reducing customer acquisition cost fr
Slide 11: Rapid advancement in revenue per employee
Rapid advancement in revenue per employee ResMed 743 HOW DO WE GET THERE? Stryker 695 Top tier molecular Abbott 597 diagnostics & devices 1) Strong organic growth Natera ResMed, Stryker, Abbott, 582 momentum leveraging years of Natera, Medtronic, Myriad Medtronic 547 Genetics market development and
Slide 12: The market is big, and we only need to capture a small amount to impact at scale
The market is big, and we only need to capture a small amount to 800% impact at scale Future Addressable Market All flavours of pie. Top-down, bottom up, primary, secondary and tertiary 7 major markets. Top 10 indications. Established in clinical practice guidelines with reimbursement, routine use f
Slide 13: Five pillars driving durable, scalable, AI powered growth
Five pillars driving, durable, scalable, AI powered growth 1 2 3 4 5 Large-scale latent Efficient growth Essential clinical Recurring, sticky Powerful moats demand engines utility revenue Growing clinical evidence A product-accelerated A technically rich, self- A technology-led Proprietary measureme
Slide 14: Therapeutics primed to partner
Section 3 Therapeutics primed to partner MICROBA.COM MICROBA LIFE SCIENCES LTD EXPECT BETTER © ALL RIGHTS RESERVED 14
Slide 15: Significant recent momentum in microbiome therapeutics
Significant recent momentum in microbiome therapeutics Live biotherapeutics validated in multiple chronic disease settings by clinical readouts Commentary Successful Phase 1b/2 readout in allergic disease1 Nov 2025 Randomised, double-blind, multi-centre study to evaluate the preliminary clinical eff
Slide 16: Recent sector investment
Recent sector investment Recent capital raises by peer microbiome therapeutic companies are validating the appetite for these assets Belgian biopharma developing Japanese microbiome German biotech advancing Scottish developer of US platform mapping microbial live biotherapeutic products therapeutics
Slide 17: Portfolio is ready to transact and advance
Portfolio is ready to transact and advance Diversified portfolio of microbiome-derived live biotherapeutic products (LBPs) — active in a partnering process with a Boston-based advisor Core Program Discovery R&D Preclinical Phase 1 Phase 2 Development Partners MAP 315 (LBP) Phase 2 ready IBD Ulcerati
Slide 18: Equity Raise
Section 4 Equity Raise MICROBA.COM MICROBA LIFE SCIENCES LTD MICROBA.COM EXPECT BETTER © ALL RIGHTS RESERVED EXPECT BETTER 18
Slide 19: Equity Raising Summary
Equity Raising Summary • Microba is undertaking a non-underwritten institutional placement to raise approximately A$4 million (Placement), comprising 80 million fully paid ordinary shares (New Shares), pursuant to the Company's existing placement capacity under ASX Listing Rule 7.1 Offer Structure a
Slide 20: Timetable
Timetable Event Date Record Date for entitlement to participate in SPP Thursday, 11 June 2026 Voluntary Suspension lifted and announcement to ASX of the Placement and SPP Friday, 12 June 2026 Settlement Date of New Shares (Placement) Wednesday, 17 June 2026 Issue of New Shares (Placement) Thursday,
Slide 21: Capital structure at a glance
Capital structure at a glance Corporate 1 Major shareholders² ASX code MAP Sonic Healthcare 21.68% Market capitalisation¹ $38.36m Perennial 12.02% Shares on issue 608.96m Mercer Investments (Australia) 6.37% 52-week low / high¹ $0.063 / $0.135 Thorney Investment Group 5.88% Cash balance (31 Mar 2026
Slide 22: Corporate transaction update
Section 5 Corporate transaction update MICROBA.COM MICROBA LIFE SCIENCES LTD EXPECT BETTER © ALL RIGHTS RESERVED 22
Slide 23: Recent corporate interest validates company value
Recent corporate interest validates company value Following an approach to Microba by a UK-based Private Equity fund, and after extensive due diligence, the company agreed terms on an in-principle basis and subject to a number of conditions precedent (which included shareholder approval) for the div
Slide 24: Contact
Dr Luke Reid Contact Chief Executive Officer luke.reid@microba.com Head Office Level 10, 324 Queen Street Brisbane QLD Australia Pasquale Rombola Chair Laboratory pasquale.rombola@microba.com Princess Alexandra Hospital Woolloongabba QLD Australia 24
Slide 25: Key Risks & Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions KEY RISKS Microba's financial position and performance, and the market price of Microba's shares may be adversely affected, sometimes materially, by a number of risk factors. Holders of Microba shares (Microba Shareholders) should accordingly be
Slide 26: Key Risks & Forward Financial Information Assumptions (cont'd)
Key Risks & Forward Financial Information Assumptions (cont'd) Competition - The microbiome industry is rapidly evolving, attracting competitors globally. Intensified competition can lead to pressure on pricing, margins, and market share, which reinforces the need to maintain Microba's leading techn
Slide 27: Key Risks & Forward Financial Information Assumptions (cont'd)
Key Risks & Forward Financial Information Assumptions (cont'd) Data privacy and sovereignty risk - As Microba expands internationally, compliance with data protection regulations (e.g. GDPR in the EU, HIPAA in the US) becomes increasingly complex. Non-compliance, data breaches, or conflicts with dat
Slide 28: Key Risks & Forward Financial Information Assumptions (cont'd)
Key Risks & Forward Financial Information Assumptions (cont'd) Merger, acquisitions and divestments - Microba may engage in merger, acquisition or divestment activities which facilitate Microba’s strategic direction. Whilst Microba recognises that benefits may arise from merger, acquisition or dives
Slide 29: Key Risks & Forward Financial Information Assumptions (cont'd)
Key Risks & Forward Financial Information Assumptions (cont'd) OFFER AND GENERAL RISKS Dilution If Microba Shareholders do not participate in the Equity Raise, then their percentage shareholding in Microba will be diluted and they will not be exposed to future increases or decreases in Microba’s sha
Slide 30: Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions (cont'd) Forward Financial Information Assumptions - CY2027 Forward Financial Information The achievement of the forward financial information relating to Microba being break-even by the end of calendar year 2027 ("CY2027 Forward Financial Inform
Slide 31: Offer Jurisdictions
Offer Jurisdictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country outs
Slide 32: Offer Jurisdictions (cont'd)
Offer Jurisdictions (cont'd) Singapore This Presentation and any other materials relating to the New Shares and Attaching Options have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this Presentation and any other d
Slide 33: Market Sizing - Overview of FAM, TAM, SAM & SOM Assessments
Market Sizing - Overview of FAM, TAM, SAM & SOM Assessments Future Addressable Market (FAM) - Est. 729m tests p.a. / $125B p.a. Serviceable Addressable Market (SAM) - Est. 18.6m tests p.a. • 7 major markets – Australia, United Kingdom, United States, France, Germany, • Top 5 focus markets – Australi