Quarterly Appendix 4C and Activities Report

Key highlights

• BZDS1901, a highly differentiated CAR-T therapy for mesothelioma and other solid cancers, secured under co-development agreement with Shanghai Cell Therapy Group Co Ltd (“SHcell”), formally launching AdAlta’s “East-to-West” cellular immunotherapy strategy.

• Strong early clinical results reported in advanced, treatment-resistant mesothelioma, including multiple tumour responses and two patients achieving complete tumour clearance (Complete Response) – a rare outcome in this disease setting.

• One Complete Response patient remains alive 22 months after treatment, with no reported tumour recurrence.

• Manufacturing is mission-critical for patient-specific CAR-T therapies. Successful transfer to Australia and future automation can materially enhance BZDS1901’s strategic partnering and licensing value.

• AdAlta, Oribiotech and Cell Therapies signed an MoU to bring Oribiotech’s IRO automated cell therapy manufacturing platform to Australia and Asia Pacific.

• AdAlta and Cell Therapies signed the first Work Order to transfer BZDS1901 manufacturing to Australia, supporting future Australian Phase 1 clinical trials (post period end).

• $1.2 million raised via private placement.

• $0.15 million additional R&D Tax Incentive refund received.