Quarterly Appendix 4C and Activities Report

“East-to-West” strategy launched; balance sheet further strengthened

Key Q2FY26 highlights

• BZDS1901, a groundbreaking CAR-T product for mesothelioma and other solid cancers to be co-developed with Shanghai Cell Therapy Group Co Ltd (“SHcell”), formally launching AdCella’s “East to West” cellular immunotherapy operations

• $2.8 million raised via private placements (includes $1.2 million raised post period end)

• $0.93 million R&D Tax Incentive (“RDTI”) refund (includes $0.15 million post period end); Radium RDTI advance loan repaid in full

• Remaining balance of New Life Sciences Capital (“NLSC”) investment repaid in cash; no further shares to be issued under either NLSC or Meurs Group Investment Agreements

Reflecting on the quarter, AdAlta’s CEO and Managing Director, Dr Tim Oldham commented:

“Launching AdCella operations was clearly the highlight of the quarter and a milestone we have been working diligently towards through 2025. BZDS1901 exemplifies many features we believe are important for successfully bringing the potential of CAR-T cell therapy to solid cancer patients: established target, armoring to overcome immune suppression and a lower cost and short manufacturing process. We are delighted to be collaborating with Shanghai Cell Therapy Gorup and that Australian patients will be the first outside China to be able to access BZDS1901, particularly those with advanced mesothelioma for which there are very limited treatment options today. This is what our “East to West” cell therapy strategy was established to do.

We are also grateful for the support of new sophisticated and professional investors, led by 62Capital, for their belief in and support for our strategy.”