Microba Life Sciences : Q4 FY22 Quarterly Activities Report & Appendix 4C

Q4 FY22 QUARTERLY ACTIVITIES REPORT & APPENDIX 4C

Microba delivers record quarter following successful $30 million IPO
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Key Highlights
	• Record quarterly revenues delivered continuing the Company's positive growth trajectory
use		o Q4 FY22 unaudited revenue totalled $1.86m representing 59% growth on PCP
	o Full FY22 unaudited revenue result totalled $4.69m representing 25% growth year on year
	o	Cash receipts for FY22 totalled $4.61m
	• Key strategic milestones delivered
		o New distribution partnerships commenced operations with Genova Diagnostics in the United
			States, and with G42 in the Gulf Cooperation Council region
personal		o Partnership signed with Midnight Health to deliver a world-first personalised consumer health
		service
	o	Next generation healthcare product launched to health professionals
		o IBD program lead candidate MAP315 progressed in manufacturing, and CRO appointed preparing
			for Phase I clinical trial
		o Autoimmune program with Ginkgo Bioworks commenced with delivery of first strains.
	• Additional achievements for the quarter
		o Cancer program accelerated, ahead of schedule with therapeutic leads identified
		o IFF partnership targeting the development of novel treatments for allergies hit critical milestone
			with leads identified
		o Ex-Amgen executive Prof Trent Munro appointed as Senior Vice President of Therapeutics
		o Business development activities progressed across 15 countries and 42 cities driving growth of
			Microba's testing services
For	• $30.5 million in cash or equivalents as at 30 June 2022 - the Company remains well funded to support
	revenue growth and therapeutic program advancement
•	The Company will host an investor webinar tomorrow, Thursday 21 July 2022, at 9.15am AEST.

Click here to register.

Microba Life Sciences Ltd ABN 82 617 096 652

Level 10, 324 Queen Street, Brisbane QLD 4000 Australia

1. 1300 974 621 E: [e-mail] W: microba.com

Microba Life Sciences Limited (ASX: MAP) ("Microba" or the "Company"), a precision microbiome company, is pleased to provide a summary of its activities for the quarter ended 30 June 2022.

CEO Dr Luke Reid said:

only"I am delighted with the progress that has been made during our first quarter as a publicly-traded company. We continue to grow our scalable testing platform with additional high quality distribution partners expanding access across major markets i cluding the United States, Europe and the Middle East. In parallel we continue to make outstanding progress on our therapeutics programs addressing clinical unmet needs for multiple major chronic diseases. In FY23 we will advance into the clinic with our lead IBD asset MAP315 which we expect to generate significant value for shareholders"

New territories and distribution partnerships

Microba's new distribution partnerships with Genova Diagnostics (USA) and G42 Healthcare (GCC) commenced operations usewith Microba powered testing products. This marks the entry of Microba's personal testing services into the US healthcare market and Middle East consumer health market which is expected to drive revenue growth in FY23. In addition, Microba igned a partnership agreement with nib Holdings Limited (ASX: NHF) backed digital healthcare company Midnight Health,

to deliver a personalised consumer health service to the Australian market. The world-firstsubscription-based service, known as Vidality, will deliver personalised supplements for customers based on their microbiome test results, leveraging Microba's Analysis Platform. Microba continues to expand uptake of its scalable microbiome testing services globally with a growing pipeline of prospective distribution partners.

personalNew products and European IVD accreditation expanding market access

Microba released a next generation product for health professionals during the quarter. The new product enables health professionals to comprehensively assess gut microbiome biomarkers and identify opportunities to intervene through diet, lifestyle and supplementation. The new product expands the total addressable market for Microba's testing products with healthcare professionals. In addition, Microba had its application for in vitro diagnostic (IVD) product registration in the European market accepted. This registration further supports expansion and uptake of Microba's testing in the European medical market together with the Company's major European distribution partner SYNLAB (FRA: SYAB) which is continuing to expand into new countries across Europe. This new registration adds to the ISO15189 accreditation already achieved in Australia, and together demonstrates Microba's leadership in bringing to market registered diagnostic testing solutions.

Record project delivery for research clients

Microba delivered 33 projects for the June 2022 quarter and 115 research projects for the full financial year. These projects continue to generate strong revenues for the Company and grow the Company's international brand recognition by working directly with leading universities, research institutes, biotechnology companies, pharmaceutical companies, and food companies who want to access Microba's market leading technologies and expertise.

ForAllergy treatment partnership with global leader IFF

During the quarter the first milestone was reached in a joint discovery project with International Flavors & Fragrances Inc. (NYSE: IFF) which commenced in November 2021. The project seeks to identify novel allergy treatments by leveraging Microba's Databank of over 15,000 gut microbiome samples and associated health data. This first milestone identified multiple microbial therapy leads for asthma and allergic rhinitis, representing the first step in a potential longer-term commercial relationship between the parties leveraging Microba's Therapeutic Platform to develop novel allergy treatments.

Microba Life Sciences Ltd ABN 82 617 096 652

Level 10, 324 Queen Street, Brisbane QLD 4000 Australia

1. 1300 974 621 E: [e-mail] W: microba.com

Therapeutic program advancement

During the quarter all three of Microba's key therapeutic programs significantly advanced:

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Inflammatory bowel disease program targeting Ulcerative Colitis - manufacturing of Microba's MAP 315 novel microbial cell therapy progressed with Bacthera in Switzerland, and Beyond Drug development was appointed as the lead Contract Research Organisation (CRO) in preparation for an upcoming Phase I trial.

Immuno-Oncology program targeting response rate improvement in cancer patients receiving immune checkpoint inhibitor (ICI) therapy - Microba identified three therapeutic leads significantly earlier than expected. This enables preclinical animal studies to be brought forward to the end of calendar year 2022, which is approximately 12 months ahead of schedule.

• Autoimmune Disease program targeting three autoimmune disorders (lupus, psoriatic arthritis and autoimmune liver

use	diseases) - Microba officially commenced this program with the first strains from the Company's biobank supplied to
	development partner Ginkgo Bioworks (NYSE: DNA).

Key ex-pharma appointment to Senior Management Team

During the quarter Microba appointed Professor Trent Munro as Senior Vice President of Therapeutics. Professor Munro has over 25 years' research and development experience, including the role of Executive Director leading a global team at multinational biopharmaceutical company Amgen based in California, United States. During his time at Amgen, he played

key roles in the translation of molecules from research, through clinical trials, regulatory approval, and global licensure. personalProfessor Munro completed postdoctoral studies in cell biology and developmental genetics at Harvard Medical School and

the University of Cambridge and has a PhD in Protein Biochemistry from the University of Queensland.

I ternational business development and pipeline growth

During the quarter significant international business development activities were undertaken. This saw key leaders and sales team members presenting at conferences and engaging with existing clients/partners, and new prospective clients/partners across 15 countries and 42 cities. This included presentations and engagements at the BIO conference in San Diego and Microbiome Movement Drug Development Conference in Boston involving partnering meetings with major pharma companies.

Financial Update

Unaudited revenue for the June 2022 quarter totalled $1.86m representing 59% growth on the prior comparable period. This delivers an unaudited full financial year revenue result of $4.69m representing 25% growth on the prior financial year. Cash receipts for the full financial year totalled $4.61m. The financial year's growth was weighted to the second half and we anticipate this trend to continue into FY23.

ForNet cash outflows during the quarter amounted to $4.4 million, with expenditure on the Company's therapeutics programs amounting to approximately $2.5 million including associated staff costs.

As at 30 June 2022, Microba had $30.5 million in cash or equivalents, which puts the Company in a strong position to execute its growth strategy and provides a solid runway to support advancement of the Company's therapeutic programs.

In accordance with Listing Rule 4.7C, payments made during the quarter to related parties and their associates included in item 6.1 of the Appendix 4C was $121,330 and included consulting and director fees.

Microba Life Sciences Ltd ABN 82 617 096 652

Level 10, 324 Queen Street, Brisbane QLD 4000 Australia

1. 1300 974 621 E: [e-mail] W: microba.com

Investor Webinar

An investor webinar will be hosted by CEO Luke Reid to discuss the June 2022 quarterly results at 9:15 am AEST on Thursday, 21 July 2022. To register for the session and for more information on the conference click here:

https://us02web.zoom.us/webinar/register/WN_eecvig3sRLKyRhEwLPwE3Q

Investors can submit questions prior to the webinar to [e-mail] or do so via the Q&A functions on Zoom.

	Use of Funds
onlyIn section 7.4 of the Microba Life Sciences Prospectus, the Company provided a proposed use of funds statement for 24
	months from listing. The table below only shows use of funds from IPO to the end of the most recent quarter, 30 June 2022.
		Expenditure in	Prior
	Use of Funds	Q4 FY22	Expenditure	Prospectus
	Global market penetration and sales growth	758	-	7,200
	Data driven drug discovery	2,206	-	13,100
use
	Platform technology advancement	405	-	2,500
	Administrative and working capital	979	-	4,700
	Costs of the offer	33	2,396	2,500
	Total	4,381	2,396	30,000
	During the three-month period ended June 2022, overall spend remained in line with the estimated use of funds as set out
	in the Prospectus.
	This announcement has been authorised for release by the Board.
	For further information, please contact:
	Dr Luke Reid	Simon Hinsley
personal	Investor / Media Relations
	Chief Executive Officer
	E: [e-mail]	E: [e-mail]
		T: [phone]
	About Microba Life Sciences Limited
For

Microba Life Sciences is a precision microbiome company driven to improve human health. With world-leading technology for measuring the human gut microbiome, Microba is driving the discovery and development of novel therapeutics for major chronic diseases and delivering gut microbiome testing services globally to researchers, clinicians, and consumers. Through partnerships with leading organisations, Microba is powering the discovery of new relationships between the microbiome, health and disease for the development of new health solutions.

For more information visit: www.microba.com

Microba encourages all current investors to go paperless by registering their details with the designated registry service provider, Automic Group, whose contact information is housed on the Investor Relations page of the Company's website.

Microba Life Sciences Ltd ABN 82 617 096 652

Level 10, 324 Queen Street, Brisbane QLD 4000 Australia

1. 1300 974 621 E: [e-mail] W: microba.com

For personal use only

Rule 4.7B

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Name of entity

Microba Life Sciences Limited, and controlled entities

ABN	Quarter ended ("current quarter")
82 617 096 652	30 June 2022

Consolidated statement of cash flows	Current quarter	Year to date
			$A'000	(12 months)
				$A'000
1.	Cash flows from operating activities
1.1	Receipts from customers	1,368	4,611
1.2	Payments for
	(a)	research and development	(1,980)	(4,776)
	(b) product manufacturing and operating	(241)	(911)
		costs
	(c)	advertising and marketing	(340)	(783)
	(d)	leased assets	(130)	(211)
	(e)	staff costs	(2,174)	(8,468)
	(f) administration and corporate costs	(1,056)	(2,614)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	15	50
1.5	Interest and other costs of finance paid	-	(8)
1.6	Income taxes paid	(9)	(9)
1.7	Government grants and tax incentives	146	3,083
1.8	Other (provide details if material)	-	-
1.9	Net cash from / (used in) operating	(4,401)	(10,036)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(g)	entities	-	-
	(h)	businesses	-	-
	(i) property, plant and equipment	(207)	(1,688)
	(j)	investments	-	(154)
	(k)	intellectual property	(52)	(217)
	(l)	other non-current assets	-	-

ASX Listing Rules Appendix 4C (17/07/20)	Page 1
+ See chapter 19 of the ASX Listing Rules for defined terms.