Announcement PDF ANNUAL REPORT 2026 The Microbiome Health Company 2 Biome aims to improve the health and quality of life of people worldwide suffering from common and chronic health conditions using evidence-based complementary medicines. As a microbiome health company driven by science, Biome operates at the intersection of natural medicine and pharmaceutical science, developing, licensing, commercialising, and marketing innovative therapeutic solutions supported by rigorous clinical research. In partnership with leading global organisations in microbiome research and development, Biome has created two complementary therapeutic platforms with innovative delivery technologies that improve stability and efficacy. Activated Probiotics, the company’s flagship range of live biotherapeutics, targets specific health conditions through clinically-validated probiotic strains. Activated Therapeutics expands treatment possibilities beyond traditional probiotics, incorporating prebiotics, postbiotics, and complementary bioactive compounds. Supported by clinical research, including randomised, double- blind, placebo-controlled trials, these therapeutic ranges address diverse health concerns spanning digestive health, immune function, cardiovascular health, women’s health, mood and sleep, bone density, and dermatological conditions. Through practitioner- only distribution across domestic and international markets, Biome educates healthcare professionals on the systemic health effects of microbiome science, providing evidence-based therapeutic tools for managing humanity’s most prevalent chronic health challenges. Acknowledgement of Country We acknowledge the Wurundjeri people as the Traditional Owners on whose Country we are based. We pay respect to their Elders past, present and emerging and acknowledge their continuing connection to land, sea and community. We extend that respect to Traditional Owners throughout Australia where we work and operate. Biome | The Microbiome Health Company 3 Company Overview Letter to shareholders 4 CFO update 7 Company timeline 8 Microbiome science 10 Product research and development 12 Education 14 Brand growth and marketing strategy 16 Sales report 18 International markets 22 Annual Financial Statements Directors’ report 26 Auditor’s independence declaration 37 Statement of profit or loss and other comprehensive income 38 Statement of financial position 39 Statement of changes in equity 40 Statement of cash flows 41 Notes to the financial statements 42 Directors’ declaration 66 Independent auditor’s report to the members of Biome Australia Limited 67 Shareholder information 72 Corporate governance summary 74 Corporate directory 79 Annual report 2026 4 Dear fellow shareholders, We are pleased to present Biome Australia’s FY26 Annual Report. Two years ago we set out Vision 27, our plan to build Biome from a fast-growing Australian probiotic business into an international microbiome health company. FY26 was the year in which that plan began to be reflected in our results. Sales revenue grew to $23.9 million, with $5.5 million of new revenue added over the year, while the company remained profitable. Equally important, during the year we established the foundations to support faster and more profitable growth in the periods ahead. Underpinning that plan is the steady, science-led building of our flagship brand. Over successive years, disciplined product development and a consistent focus on clinical evidence have helped establish Activated Probiotics® as one of Australia’s leading and most trusted probiotic brands, and moved it steadily toward becoming a household name. According to IQVIA scan data, Activated Probiotics now has the number one probiotic product and the number one kids probiotic product in Australian pharmacy1 — a position held against global competitors many times our size, and achieved without a retail price increase since the brand launched in 2019. Having reached this standing, we see considerable room for continued growth, both in Australia and internationally. FY26 was our second consecutive year of net profit, of $3.6 million (includes $2.4m income tax benefit, underlying $1.2m), with EBITDA (excluding share-based payments) increasing 115% to $2.0 million. This reflects a deliberate approach to profitable growth. The company has not pursued revenue through discounting, and in a year in which conditions across much of the consumer health sector were challenging, our decision to lead with science, and to earn trust through evidence and service rather than discounting, enabled us to grow both revenue and earnings. Letter to shareholders Our Australian business remained the primary driver of this result, supported by the strongest consumer demand in the company’s history. The sell-through of our products again grew well ahead of the category, and in June, monthly sell-through exceeded 100,000 units for the first time. These results reflect a principle that has held since the company was founded: when we help pharmacists and practitioners achieve better outcomes for their patients, commercial success follows. A defining strategic decision in FY26 was to take greater control of how our products are manufactured. In June we entered into an agreement with Specialty Probiotics Australia to bring production of our Activated Probiotics range onshore, with the first batch commencing in September 2026 and the range transitioning progressively over approximately 18 months. The agreement requires no capital investment from Biome. It is expected to improve our already strong gross margin, release working capital currently tied up in extended international freight and large inventory orders, and add an Australian-made point of difference in our export markets, consistent with our position as a certified B Corporation. Biome will continue to leverage international supply partnerships to maintain optionality and service international markets, providing diversification and reducing risk. This represents the first phase of the supply-chain program at the heart of Vision 27, and we expect its benefits to be evident in our results over a number of years. Internationally, FY26 was a year of establishing durable foundations rather than maximising near-term revenue. We continued to pursue a deliberately capital-efficient model, operating our overseas markets through small sales and education teams reporting into Australia, rather than establishing standalone operations in each country. This approach keeps cost and risk low while each market is proven. International revenue reached $1.8 million, with established positions now held across Canada, Ireland, the United Kingdom, and New Zealand. In Canada we secured Fullscript, the largest practitioner distributor in North America, alongside our launch partner and a growing local team. In Ireland we launched with Uniphar across 1. IQVIA™ Sell Out Service, VITAMINS MINERALS AND SUPPLEMENTS category, CHC3=PROBIOTICS, Australia Pharmacy, Total Value and Unit, 52 Weeks W/E 2026-06- 27. *IQVIA™ Sell Out Service, VITAMINS & SUPPLEMENTS category, CHC3=PROBIOTICS, Australia Pharmacy, Total Value and Unit, 52 Weeks W/E 2026-06-27.l Biome | The Microbiome Health Company 5 next year, and we remain committed to it. The international business is established and positioned to scale, onshore manufacturing is commencing, the core Australian business continues to compound, and our product pipeline is full. FY26 was a year of building; we intend FY27 to be the year in which that work is realised, and the most significant year in the company’s history. While this report is necessarily focused on financial performance, it is worth restating what sits behind it. Biome exists to improve the health and quality of life of people living with common and chronic conditions, and our product development continues to begin with a genuine patient need rather than a market opportunity. Our certification as a B Corporation reflects a commitment to holding ourselves to that standard, and to balancing the interests of shareholders with those of the patients, practitioners, and communities we serve. We regard this purpose not as being in tension with commercial success, but as the foundation of it. We thank our team, whose commitment delivered these results, and our pharmacy and practitioner partners, who continue to trust Biome to serve their patients and customers. Above all, we thank you, our shareholders, for your continued support of the company’s long-term strategy. We look forward to updating you throughout the year ahead. its wholesale and retail pharmacy network, serving more than 1,400 pharmacy customers. With this distribution in place, and with onshore manufacturing enabling the smaller production runs these markets require, we expect international to contribute more materially in FY27. We also continued to broaden our offering. Activated Therapeutics®, launched at the close of FY25, completed its first full year in the market and is now ranged with our major pharmacy partners. The range extends our reach beyond probiotics into adjacent, evidence-based areas of health and provides a second platform for growth alongside Activated Probiotics. A number of new products across both ranges are scheduled for FY27. Research and intellectual property remain central to our strategy, and FY26 was a significant year on both fronts. We filed our first patent application for our proprietary strain BMB18, and commenced recruitment for the BMB18 clinical trial, a 240-participant randomised, double-blind, placebo-controlled study conducted across two respected academic centres, La Trobe University in Melbourne and Harokopio University of Athens in Greece. Developing proprietary, clinically-validated strains is how we intend to strengthen our competitive position and support future product development, and BMB18 is the first of these. During the year we welcomed Lauren Dwyer as Chief Financial Officer. Lauren is a Chartered Accountant with more than 15 years’ experience in senior finance roles across pharmaceuticals, consumer health, and high- growth companies, and she has brought considerable financial discipline to a business that is concurrently scaling and internationalising. Her contribution has already informed our approach to margin, cash management, and the FY27 plan. We also thank Douglas Loh for his significant contribution to Biome over many years. Vision 27 sets a target of at least $75 million in cumulative sales revenue across FY25–FY27. The company has delivered $42.3 million in the first two years, against a plan deliberately weighted toward FY27. Reaching the target will require a meaningful increase in the revenue added Mr Geoffrey Sam OAM Chair Blair Vega Norfolk Managing Director Annual report 2026 6 Biome | The Microbiome Health Company 7 CFO Update Dear shareholders, I am delighted to present FY26 results as your Chief Financial Officer, in a year that will be looked back on as a defining one for the company. The Group’s achievement of profitability in FY26 represents a material inflection in its earnings trajectory. Revenue grew 30% to $23.9 million, EBITDA (excluding share-based payments) increased 115% to $2.0 million and profit before tax reached $1.2 million. Biome’s operating model has proven itself, supporting our expectations of sustainable and continuing profitable earnings in future financial reporting periods. As a result, in FY26 we recognised on balance sheet $2.4 million deferred tax assets (carried forward from prior years) — a reflection of the Board’s confidence in the durability of the earnings we are now generating. In 2026 a number of significant projects have been progressed, both internally and externally, to set Biome up for success in FY27 and beyond the targets committed to as part of Vision 27. The significance of the contract manufacturing agreement entered in June 2026 with Specialty Probiotics Australia should not be understated. We have communicated a material increase expected in Biome’s gross profit margin as manufacturing transitions onshore over the next 18 months, which will directly deliver increased bottom line profitability and support our continued progress towards a 65%+ gross margin. Of equal significance is the risk mitigation that onshoring affords us, coupled with the complexities it removes around managing a supply chain that has been heavily exposed to global uncertainties, including extended international freight and large inventory holdings. Capital management has also been a key area of focus during the year, and I am pleased with the progress we have made. Biome delivered a full-year net operating cash inflow of $1.6 million, a turnaround of $4.5 million on the prior year’s net operating cash outflow, leaving the Company with $3.6 million in cash and a further $3.1 million in an undrawn credit facility at year end. At the same time, we reduced debt by $1.0 million year-on- year, to $1.9 million drawn against total NAB facilities of $5.0 million as at 30 June 2026. The discipline around cash and debt is inseparable from the profitability result itself — it is what gives Biome the balance sheet strength to fund our FY27 growth plans, including the onshore manufacturing transition and continued international expansion, without placing undue pressure on the business. Internally and in the second half of FY26, I have prioritised ensuring that we have the right people, processes and platforms in place to support disciplined organisational growth and sustainable operating expenditure practices. In doing so, our focus remains to support increasing sales revenue both domestically as well as in existing and new international markets, whilst leveraging partnerships and continuing investment in research and development. Underpinning both the FY26 result, and the work already under way for FY27, is an exceptional amount of hard work and dedication. I would personally like to thank the Biome team, who deliver with passion and purpose every day. Lauren Dwyer Chief Financial Officer 8 Company overview JULY Biome Australia founded 6 employees JUNE $7.23m FY23 Sales revenue 2018 NOVEMBER Activated Probiotics launch Biome launches its condition-specific probiotic range JUNE TerryWhite Chemmart distribution deal Activated Probiotics launches nationally with TerryWhite Chemmart $833k FY20 sales revenue NOVEMBER UK practitioner market launch Activated Probiotics launches into the UK Practitioner market JUNE $13m FY24 sales revenue SEPTEMBER Test market launch into Canada NOVEMBER Canadian health retail launches MARCH Biome Lift™ clinical trial preliminary results On patients with subthreshold depression JANUARY UK/Ireland health retail launch Activated Probiotics launches into UK/ Ireland Health Retail MARCH Biome reaches cashflow and EBITDA positive milestones 5000 Distribution points 2020 2023 2024 DECEMBER Novel probiotic strain Biome secures new novel probiotic strain BMB18 MAY First patent filed for BMB18, clinical trial commences Biome files its inaugural patent application over proprietary strain BMB18, the cornerstone of its next-generation probiotic program. Randomised, double-blind, placebo- controlled trial begins recruitment across La Trobe University and Harokopio University of Athens JUNE Onshore manufacturing SPA Commercial manufacturing agreement signed with Specialty Probiotics Australia to bring Activated Probiotics production onshore; phase one of Vision 27 JUNE 100,000 units in a month Monthly sell-through passes 100,000 units for the first time; Biome Daily™ Probiotic reaches number 1 probiotic product in Australian Pharmacy.1 1. IQVIA™ Sell Out Service, VITAMINS MINERALS AND SUPPLEMENTS category, CHC3=PROBIOTICS, Australia Pharmacy, Total Value and Unit, 52 Weeks W/E 2026-06-27. JUNE $23.9m FY26 sales revenue Record full-year sales revenue of $23.9 million, up 30% on FY25 Biome | The Microbiome Health Company 9 MARCH Biome Lift™ clinical trial In partnership with La Trobe University and Probiotical S.p.A. 2000 Distribution points JUNE $2.32m FY21 Sales revenue NOVEMBER B Corporation certification JUNE $4.1m FY22 sales revenue 3000 Distribution points 2022 JANUARY Biome Osteo™ clinical trial Probone21 clinical trial using Biome Osteo™ commences in partnership with La Trobe University and Probi AB FEBRUARY Practitioner market launch Activated Probiotics launches into the Australian practitioner market with Oborne Health Supplies and vital.ly SEPTEMBER Priceline Pharmacy Activated Probiotics product launch JUNE Biome reaches first net profit Activated Therapeutics launch New brand and range of targeted therapeutics offering natural options for common health concerns FEBRUARY Biome Daily Kids™ clinical trial Biome Daily Kids™ clinical trial commences in partnership with Federation University 2021 MARCH BMB18 successfully completes in vitro clinical study JUNE International pharmacy launch Activated Probiotics launched with Uniphar pharmacy wholesale in Ireland and Propharma pharmacy wholesale in New Zealand 2025 2021 JANUARY Canada Fullscript Activated Probiotics secures Fullscript, the largest practitioner distributor in North America, alongside launch partner Ecotrend Ecologics JANUARY Ireland Uniphar launch Launch with Uniphar across its wholesale and retail pharmacy network, reaching more than 1,400 pharmacy customers FEBRUARY Lauren Dwyer appointed CFO Chartered Accountant with more than 15 years experience across pharmaceuticals, consumer health, and high-growth companies joins as Chief Financial Officer MARCH-JUNE National public health campaign National campaign across print, large-format out-of- home, and digital raising awareness of condition- specific probiotics; approximately 1,974,450 digital impressions delivered JANUARY Second net profit year begins Biome enters FY26 on an annualised run rate above $20 million, building on its first full year of net profit in FY25 2026 Annual report 2026 10 Transforming healthcare through microbiome science Biome is helping Australians improve their health by harnessing cutting-edge microbiome research to develop targeted, evidence- based therapeutic solutions. Operating at the forefront of where microbiome science meets clinical practice, Biome is committed to developing innovative approaches that support gut health and overall wellbeing. 11 Understanding the microbiome The human gut hosts a complex ecosystem of trillions of microorganisms that function as a metabolically active organ system. This internal ecosystem doesn’t just aid digestion — it orchestrates communication networks that influence a range of different bodily processes, including immunity, hormone production, neurological function, and systemic inflammation throughout the body. When this ecosystem thrives in balance, it supports optimal whole body health. However, modern life has created widespread microbiome disruption, with compromised gut communities now linked to an expanding spectrum of chronic conditions — from metabolic disorders and autoimmune diseases to mood disturbances and skin conditions.1 Contemporary lifestyle factors have fundamentally altered our internal microbial landscape. Ultra-processed foods, chronic stress, sedentary behavior, and frequent antibiotic exposure have collectively diminished microbial diversity and shifted gut composition toward inflammatory profiles. This disruption manifests as compromised intestinal barrier function, allowing microbial fragments to trigger systemic immune activation. The resulting chronic inflammatory cascade spreads beyond the gut, contributing to the rising prevalence of multisystem disorders that define modern healthcare challenges. Targeted products for targeted outcomes Biome has developed two complementary therapeutic ranges that help to address different aspects of microbiome health. Activated Probiotics is a range of precision probiotics, with each product formulated to address specific health concerns through evidence-based strain selection. Activated Therapeutics is comprised of evidence-based nutraceuticals and complementary medicines beyond probiotics, incorporating prebiotic fibers, postbiotic compounds, and synbiotic formulations that support microbiome health in their own unique ways. Together, these ranges provide healthcare practitioners with comprehensive tools to improve the management of key public health concerns through targeted microbiome-based interventions. 1 Anwar, H., Irfan, S., Hussain, G., Naeem Faisal, M., Muzaffar, H., Mustafa, I., Mukhtar, I., Malik, S., & Irfan Ullah, M. (2020). Gut Microbiome: A New Organ System in Body. In Parasitology and Microbiology Research (pp. 1–20). IntechOpen. Annual report 2026 12 Over the past year, Biome Australia has continued its investment in proprietary research, advancing its own probiotic strain into active clinical development. Following the transfer of ownership of Lactobacillus plantarum BMB181 to Biome in FY25, the past 12 months have been defined by the strain’s progression from functional validation into formal intellectual property protection and the launch of its first human clinical trial in partnership with La Trobe University. BMB18: Biome’s proprietary strain program Lactobacillus plantarum BMB18 is Biome’s first wholly- owned probiotic strain and remains a key focus of the company’s research and development strategy. Owning the strain outright allows Biome to pursue condition- specific health claims, defensible product differentiation, and licensing opportunities in global markets that are not available to companies formulating with third-party strains. In FY25, core functional characterisation studies established the mechanistic basis for the strain’s therapeutic potential, demonstrating an ability to modulate immune responses and inflammation, reduce oxidative stress, and maintain intestinal barrier integrity in cell culture studies. This evidence base provided the scientific rationale for progressing the strain into human clinical research during FY26. Biome holds the strain on formal deposit with the DSMZ. First human clinical trial: La Trobe University collaboration The defining milestone of the year was the establishment and approval of the first human clinical trial of BMB18, which Biome Australia is conducting in partnership with La Trobe University’s School of Allied Health, Human Services and Sport. Professor Matthew Cooke serves as Principal Investigator, with Professor George Moschonis leading study design and international coordination. The trial is a randomised, double-blind, placebo-controlled, three-arm study designed to examine the effect of low and high doses of Lactobacillus plantarum BMB18 on digestive function, mood, sleep, and quality of life: Research and development Design Randomised, double-blind, placebo-controlled, three-arm Participants 240 adults aged 18–65 with mild digestive symptoms and/or occasional sleep or mood disturbance Sites Dual-centre: La Trobe University (Melbourne, Australia) and Harokopio University (Athens, Greece) Arms 1 billion CFU/day, 10 billion CFU/day, and placebo Duration Six-week intervention with two-week follow-up Primary outcome Digestive symptom severity (IBS-SSS) Secondary outcomes Mood (DASS-21), sleep quality (Brief PSQI), quality of life (SF-36), and inflammatory biomarkers (hs-CRP, IL-6) Biome | The Microbiome Health Company 13 Key milestones during the year included: • Research agreements: Biome finalised clinical trial and research collaboration agreements with both La Trobe University and Harokopio University. • Protocol development: La Trobe University developed the full study protocol, data collection instruments, and standard operating procedures, ensuring trial design aligned with updated ISAPP guidance on probiotic trials in gut health. • Ethics submission and approval: The study team lodged the ethics application in November 2025, and La Trobe University’s Human Research Ethics Committee granted approval on 30 January 2026 (HEC25538) for a five-year period. All corresponding approvals for the Athens site followed in parallel. • Trial registration: the study team prospectively registered the trial with the Australian New Zealand Clinical Trials Registry (ACTRN12625001338459p). • Investigational product supply: Biome’s manufacturing partner produced dedicated clinical trial batches of active product and matched placebo, and delivered them to the Melbourne and Athens sites. Biome and La Trobe University expanded the study to a dual-centre design across Australia and Greece to strengthen the statistical power and population diversity of the dataset, improving the quality and international applicability of the evidence generated. Future outlook BMB18 has moved from an owned asset into active clinical development, and represents a significant long- term source of product differentiation and defensible competitive advantage. Participant recruitment for the Melbourne and Athens sites commenced shortly after year end, and the study team has submitted the trial methodology for publication in a peer-reviewed journal. With clinical data expected to inform both future product development and the company’s international patent strategy, BMB18 positions Biome to pursue opportunities that few companies in the Australian complementary medicines sector are able to access. Activated Therapeutics Biome launched Activated Therapeutics following several years of dedicated research and development, extending its evidence-based approach beyond probiotics into adjacent, science-backed areas of gut health. As with Activated Probiotics, Biome developed each product in the range against a genuine, well-characterised patient need, drawing on the same rigour of clinical evidence and ingredient selection that underpins its probiotic portfolio. Having completed its first full year in market, the range is well supported by both practitioner and pharmacy networks, with strong customer acceptance and feedback validating the science behind it in real- world use. Activated Therapeutics is now established as a long-term platform for growth alongside Activated Probiotics, and further product development is under way to extend the range in the years ahead. 1. A 2020 genome-based revision of the genus Lactobacillus reclassified this species as Lactiplantibacillus plantarum. This report uses Lactobacillus plantarum throughout, consistent with the Australian Register of Therapeutic Goods, which continues to list the species under the Lactobacillus genus. Official trial, registry, and ethics documentation use the updated nomenclature. Both names refer to the same microorganism. Biome | The Microbiome Health Company Annual report 2026 14 Education FY26 presented many opportunities for the Biome Education team to do what they do best: provide high- quality education on microbiome research. Feedback from Biome’s pharmacy and practitioner partners consistently confirms that it is the quality of Biome’s education and training which sets it apart. The Education team continually strives to maintain the reputation Activated Probiotics has forged as the most trusted practitioner brand. This year, the team has also worked hard to make sure that Activated Therapeutics is also seen in this same positive light. Biome officially launched Activated Therapeutics at an evening event in September 2025, attended by dozens of healthcare practitioners. The range has been well received by naturopathic practitioners and pharmacy professionals alike, with the products embodying Biome’s commitment to producing evidence-informed solutions to common clinical problems. The Education team has worked hard to produce a suite of educational resources to support the hard work of the practitioner education consultants (PECs) in introducing the range’s four products to their accounts. From head office, Director of Education Rebecca Edwards delivered a series of educational webinars for practitioners to help them understand the clinical applications of these four products. One of the new Activated Therapeutics products, Oestro-ISO, represents an important focus for Biome over the past year. Delivering a standardised dose of soy isoflavones, Oestro-ISO is focused on supporting the health of perimenopausal women. Perimenopause has emerged as a significant area of clinical interest, with many healthcare practitioners seeking to build expertise in this area. Biome firmly embraced the interest in this aspect of women’s health, with Rebecca presenting specifically on perimenopause at many points over the year. The biggest event on the Education calendar for FY26 was Biome’s National Masterclass Tour. Perimenopause remained in the spotlight, and was the subject of Rebecca’s two hour long seminar to healthcare practitioners, which was presented to hundreds of attendees along the six city tour. The feedback was exceptional, with one attendee commenting ‘I’m going to talk to every woman I know about this!’ BNE DRW MEL TAS SYD MEL ADL PER Biome | The Microbiome Health Company 15 Women’s health overall, not just perimenopause, has been a significant focus for the Biome Education team. One of the ways in which Biome endeavours to live its B Corp values is through community education. An aim for Biome’s education this year has been to create more confidence in healthcare professionals when discussing vaginal health with their patients, thereby helping to destigmatise conversations about genitourinary care. ‘Confident Conversations’ was the session developed to address this, debuting at the Priceline Masterclass national tour. The topic was so well received that the team created an exclusive, invitation-only event alongside the 2026 Australian Pharmacy Professionals (APP) convention, where Rebecca hosted an expert panel discussion for hand-selected guests. Vaginal health featured again at the Terry White Chem