Annual report
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Atomo Diagnostics Limited Appendix 4E Preliminary final report 1. Company details Name of entity: Atomo Diagnostics Limited ABN: 37 142 925 684 Reporting period: For the period ended 30 June 2026 Previous period: For the period ended 30 June 2025 2. Results for announcement to the market AUD Revenue from ordinary activities up 41% to 5,333,849 Loss from ordinary activities after tax attributable to the owners of Atomo Diagnostics Limited down 29% to 3,513,587 Total comprehensive loss from the period attributable to the owners of Atomo Diagnostics Limited down 30% to 3,423,464 30 June 2026 30 June 2025 AUD Cents AUD Cents Basic Loss per share (0.425) (0.768) Diluted Loss per share (0.425) (0.768) Dividends There were no dividends paid, recommended or declared during the current financial period. Comments The loss for the group after providing for income tax amounted to AUD3,513,587 (30 June 2025: AUD4,970,934). Refer to the 'Operating and Financial Review' within the Directors' Report for further commentary on the full-year's results, financial position and likely developments in future years. 3. Net tangible assets Consolidated 30 June 2026 30 June 2025 AUD AUD Net tangible asset per ordinary security 0.72 0.72 The net tangible assets per ordinary security is calculated based on 902,432,853 ordinary shares on issue as at 30 June 2026 , and 739,115,183 ordinary shares that were on issue as at 30 June 2025. 4. Loss of control over entities Not applicable. 5. Details of associates and joint venture entities Not applicable. 6. Audit qualification or review The financial statements have been audited and an unmodified opinion has been issued.
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Atomo Diagnostics Limited Appendix 4E Preliminary final report 7. Attachments The Annual Report of Atomo Diagnostics Limited for the period ended 30 June 2026 is attached. 8. Annual General Meeting Atomo Diagnostics advises that its Annual General Meeting will be held on or about 5 November 2026. The time and other details relating to the Meeting will be advised in the Notice of Meeting to be sent to all shareholders and released to ASX immediately after dispatch. In accordance with the ASX Listing Rules, valid nominations for the position of director are required to be lodged at the registered office of the Company by 5.00pm (AEDT) on 17 September 2026. 9. Signed Signed ___________________________ Date: 31 August 2026 Patrick Cook Chair Sydney
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Atomo Diagnostics Limited ABN 37 142 925 684 Annual Report - 30 June 2026
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Atomo Diagnostics Limited Corporate directory For the period ended 30 June 2026 1 Directors Patrick Cook (Non-Executive Director & Chair) John Kelly (Managing Director & CEO - resigned on 19 August 2026) Cheri Walker (Executive Director & Interim CEO) Anthony May (Non-Executive Director) Company secretary Mathew Watkins Registered office Level 1 3 - 5 George Street Leichhardt NSW 2040 Tel: +61 2 9099 4750 Principal place of business Level 1 3 - 5 George Street Leichhardt NSW 2040 Tel: +61 2 9099 4750 Share register Boardroom Pty Limited Level 8 210 George Street Sydney NSW 2000 Tel: +61 2 9290 9600 Auditor BDO Audit Pty Ltd Level 25, 252 Pitt Street Sydney NSW 2000 Solicitors HWL Ebsworth Lawyers Level 14, Australia Square 264 - 178 George Street Sydney NSW 2000 Stock exchange listing Atomo Diagnostics Limited shares are listed on the Australian Securities Exchange (ASX code: AT1) Website www.atomodiagnostics.com Corporate Governance Statement www.atomodiagnostics.com/governance
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 2 Directors The following persons were directors of Atomo Diagnostics Limited during the whole of the financial period and up to the date of this report, unless otherwise stated: Director Appointed Resigned Patrick Cook (Chair & Non-Executive Director) 2 May 2025 n/a John Kelly (Managing Director) 1 April 2010 19 August 2026 Cheri Walker (Executive Director & Interim Chief Executive Officer) 15 November 2022 n/a Anthony May (Non-Executive Director) 2 May 2025 n/a Principal activities The principal activities Atomo Diagnostics Limited ("Atomo" or "group") during the course of the year were the development and sale of medical devices. There were no significant changes in the nature of the activities of the group during the year. Review of operations The loss for the group after providing for income tax amounted to $3,513,587 (30 June 2025:$4,970,934). For the year ended, Atomo recorded revenues of $5,333,849, largely comprising of POC Test sales for HIV of $2,840,399, POC technology sales of $2,150,773 and $342,677 from development fees and other revenue. An increase of 41% from comparative period. Despite increase revenue, margin reduced from 51% to 35%, driven mainly by one-off licence fees received in the comparative period. Other income for the period was $2,234,374, largely comprising of R&D rebate $1,260,540 and recognition of $886,925 for government grant activities undertaken for the development of Syphilis Test, offsetting a portion of eligible operating costs. Ongoing measures throughout the period relating to operating expense management, has resulted in continued reduction in overhead expenditure for the group. Overall operating expense reduced over $781,233 from comparative period, equivalent to a 9% reduction, maintaining lean operations in the period and reflecting a concerted effort over the last three years to reduce costs across the business. From capital raising activities during the period, Atomo successfully raised Atomo $4,059,742 as at 30 June 2026 net of transaction costs. Capital raised will focus on expanding Atomo's portfolio of products and technology platforms, investing prudently in areas of the business to support market facing commercial activities and measures to reduce operating COGS to improve margins. Atomo continued to build momentum across government-funded HIV self-testing programs, supported by growing recognition of self- testing as an important component of HIV management strategies. During the period, the Atomo achieved growth across Europe and secured significant orders in low- and middle-income country (LMIC) public health markets. Combined with ongoing expansion of funded programs, these developments contributed to a 21% year-on-year increase in HIV-related revenue (Point-of-care tests). During the period, Atomo's strategic partner, Lumos Diagnostics Limited (ASX: LDX), secured a six-year exclusive US distribution agreement for its FebriDx Test with PHASE Scientific. FebriDx is delivered to the end user using Atomo's patented Pascal cassette, and the product's US regulatory approvals are dependent on the Pascal device's performance, making Atomo a critical supplier to Lumos under this agreement. The contract is valued at up to US$316 million in FebriDx revenues over the six-year term, subject to Lumos achieving the contract's minimum order quantities. As a result, Atomo experienced a substantial increase in orders from Lumos during the year, with order volumes increasing more than nine-fold compared to the prior year. Combined with overall sales increased 209% for Point-of-care technology year-on-year. Cash and cash equivalents at 30 June 2026 amounted to $3,708,792 compared to $3,219,646 as at 30 June 2025. Significant changes in the state of affairs ● On 3 July 2025, Atomo completed the issue of the remaining 31,729,730 Placement shares under Tranche 2 of the placement announced in April 2025. The shares were issued at $0.0185 per share, raising approximately $567,000. Participating investors also received one attaching option for every share issued, exercisable at $0.04 and expiring three years from the date of issue. ● Following shareholder approval obtained at the Extraordinary General Meeting held on 26 June 2025, Atomo proceeded to place the remaining shortfall under its Share Purchase Plan (SPP). On 24 July 2025, the Company completed the first tranche of the SPP shortfall placement, issuing 16,810,814 shares at $0.0185 per share and raising $311,000. Remaining SPP shortfall was placed on 14 August 2025, for the amount of $416,612, issuing 22,519,555 shares to investors. The investors also received one attaching option for each share issued, exercisable at $0.04 and expiring three years from the date of issue. ● On 30 March 2026, Atomo completed a Placement to institutional and sophisticated investors at $0.033 per share plus the issuance of 1 option for every 2 shares at a strike price of $0.045 (with a 2.5 year expiry date from option issue date). Placement raised was $3,000,000, issuing 90,909,091 shares. Following, on 15 May 2025, SPP was completed with same terms, raising a further $45,000 issuing 1,348,480 shares. There were no other significant changes in the state of affairs of the group during the financial period.
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 3 Matters subsequent to the end of the financial period On 19 August 2026, Atomo announced John Kelly stepping down from his role as Managing Director, effective 19 August 2026, following a Board decision to reposition the Company's executive leadership to reflect its evolving international commercial footprint. As part of the leadership transition, the Board appointed US-based Cheri Walker, a current Director of the Company, as Interim Chief Executive Officer, effective 19 August 2026. No other matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the group's operations, the results of those operations, or the group's state of affairs in future financial years. Likely developments and expected results of operations With approximately $3,708,792 of cash at bank and no debt, Atomo continues to pursue its key priorities while remaining focused on conserving capital over the medium term. ● Continued rollout and growing momentum of HIV Self-Testing sales globally in developed markets throughout Europe, Australia and New Zealand. ● Focus on the expansion of Atomo's Point-of-Care (POC) cassette supply business, especially in the US market where the successfully CLIA-Waiver for Lumos’s FebriDx test on Pascal locks significant contracted volumes for supply of FebriDx to PHASE. This regulatory approval also provides a predicate pathway for new Diagnostics partners seeking a proven solution to enter valuable CLIA-waived and self-test channels for the rapid blood tests. ● Growing the emerging development services business where Atomo is being paid to develop products and custom solutions for partners seeking access to Atomo technology and products. ● Improved operating margins across the business resulting for Atomo bringing critical operations such as its proprietary blister manufacturing in-house along with the qualification of high cavitation tooling improving Cost of Goods (COGs). Business risk The group has identified the following material business risks that may cause its revenue and profitability to decline and are important to key stakeholders such as investors, consumers, customers, supplier, governments and employees. ● Regulatory risk: The group sells medical devices and finished products that require regulatory approvals to be maintained (for existing approved products), and to be obtained (for new products) in multiple jurisdictions. This includes obtaining and maintaining product approvals from the TGA in Australia, the FDA in the US, Health Canada in Canada, comparable bodies in Asia and South America, the World Health Organisation for LMIC global health markets, and compliance with the IVDD and IVDR regimes in Europe. There are risks associated with these regulatory approvals that may impact on the business should approvals be withdrawn for existing products or not obtained for new products. ● Product quality and safety: Should quality or safety issues arise with Atomo's products, there is the potential for negative financial and or reputational impacts. To mitigate this risk Atomo sources materials from quality suppliers, complies with ISO 13485 Medical Devices Quality Management, and delivers safe products to customers. Atomo aims to adhere to or exceed strict regulatory standards in all jurisdictions that it serves, and investigates all concerns to ensure our products maintain the highest quality. We are frequently inspected by independent regulatory authorities auditing compliance with these standards. ● Compliance: Responsibility to drive compliance with legal and regulatory requirements applicable to our global business. Includes development of policies and controls, communication and training, oversight and continuous improvement. Consequently, compliance affects every aspect of what we do, to deliver quality products to consumers. ● Supply chain: Responsibility to partners to ensure our product line is free from human rights concerns such as forced labour and trafficking, unsafe labour standards and unfair treatment. Atomo relies on third party manufacturers in certain areas and as such has potential exposure to supply chain disruption risks. The company takes steps to stay closely engaged with its supply chain and ensures sufficient stock on hand to mitigate this risk. ● Employees and skilled labour: Atomo's business relies on key qualified personnel. Ensuring our employees are appropriately remunerated and work in a safe environment, which meets or exceeds relevant regulatory expectations, addresses health and safety concerns as they arise and mitigates the risk of reoccurrence of incidents. ● Operational risk: Atomo has international operations, including a manufacturing facility in South Africa and as such is potentially exposed to additional from political, legal, economic and regulatory risk specific to those locations. ● Atomo operates in a competitive industry: Strategies and initiatives designed to provide diagnostics at competitive prices to ensure it can develop, manufacture and market high-quality generic and branded products, with a particular focus on accessible diagnostics for the global health and Lower and Middle Income markets. ● Corruption and bribery: Business must be conducted with transparency, and free from unethical persuasion. Ethical business practices relate to every aspect of Atomo's business, from identifying product sources, through the development of diagnostics, transactions with regulatory bodies and sale to customers. ● Resource use and waste management: Includes energy usage during manufacture and logistics, water usage and waste as a by-product of manufacture, with particular consideration given to the fact that the products are classified as medical waste upon use. ● Climate risk: The board is considering on an ongoing basis the potential response to climate risk and considering potential implementation of a formal review and policy response in future years. The Board believes that the group has adequate systems in place for the management of its exposure to business risk. The group's operations are not subject to any significant environmental regulation under Australian Commonwealth or State law.
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 4 Information on directors Name: Patrick Cook Title: Non-Executive Director and Chair (appointed Chair on 9 September 2025) Experience and expertise: An experienced Non-Executive Director and Chair with over 35 years experience as a senior executive in medical devices & point-of-care diagnostics sectors within various multinational, private and listed biotechnology companies. Previously served as Non-Executive Director at Workplace Drug Testing Australasia Ltd, Non- Executive Director & Chair at eWaste Connection Ltd, Board Member at Prostate Cancer Foundation of Australia (Qld), a Fellow of the Australian Institute of Company Directors and holds degrees in Science and Marketing. Other current directorships: Nil Former directorships (last 3 years): Non-Executive Director & Chair at Workplace Drug Testing Australasia Ltd Non-Executive Director & Chair at eWaste Connection Ltd Special responsibilities: Member of Audit and Risk Committee Interests in shares: 717,909 Interests in options: 1,940,541 Contractual rights to shares: Nil Name: John Kelly Title: Interim Chair (from 23 May 2025 to 9 September 2025) Managing Director and CEO (Resigned on 19 August 2026) Experience and expertise: During the period, John Kelly was the Managing Director and CEO of Atomo. During the period John Kelly was also appointed as Interim Chair of Atomo. For 25 years Mr Kelly has focused on developing and commercialising innovative healthcare products that enhance usability and performance, having started with CR Bard in Europe developing Class III implantable cardiology products. Prior to co-founding Atomo in 2010, Mr Kelly acted as the Chief Operating Officer (COO) of Unilife Corporation, which was previously an ASX-listed company (ASX:UNS) and subsequent to his departure, a Nasdaq listed company (NASDAQ:UNIS). At Unilife Corporation, he led the global operations team from 2005 to 2008, developing ‘Unifill’, the world’s first glass prefilled drug delivery device with integrated auto retract safety feature, and this technology was successfully licensed to Sanofi Aventis. Prior to joining Unilife in 2005, Mr Kelly spent five years at ResMed where he led the New Product Implementation Group and managed the development of the ground-breaking Mirage Swift and Activa mask systems. Mr Kelly holds an Honours degree in Mechanical Engineering from the University of Liverpool, a Master’s degree in Manufacturing Systems Engineering from Queen’s University Belfast, and an Executive MBA from the University of Sydney, where he was awarded the Business School’s inaugural ‘Excellence in Leadership’ scholarship. Other current directorships: Non-Executive Director - Tetratherix Limited Former directorships (last 3 years): Nil Special responsibilities: Nil Interests in shares: 74,111,870 Interests in options: 1,621,622 Contractual rights to shares: Nil Name: Cheri Walker Title: Executive Director Interim Chief Executive Officer (Appointed on 19 August 2026) Experience and expertise: Dr. Walker is an executive with more than twenty-five years of experience working with life science and diagnostic companies. Dr. Walker is currently the Interim Chief Executive Officer of Atomo Diagnostics and was previously CEO of Zeta Corporation, CEO Founder of Rhinostics, and CFO of Kailos Genetics. She has previously held senior executive positions at Abcam; Charles River Labs; Qiagen, and Life Technologies, now part of ThermoFisher. Dr. Walker holds a BA in Biology from Swarthmore College and a Ph.D. in Human and Molecular Genetics from Baylor College. Other current directorships: Nil Former directorships (last 3 years): Nil Special responsibilities: Member Audit and Risk Committee Interests in shares: Nil Interests in options: 1,000,000 Contractual rights to shares: Nil
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 5 Name: Anthony May Title: Non-Executive Director Experience and expertise: Mr May has held various Director roles across international corporations including Hoechst Germany, Microgenics Corporation USA, Fisher Scientific and Thermo Fisher Scientific. With extensive experience across public and private pathology laboratories, as well as sales and management roles in the IVD supply sector, he has built a strong track record in business leadership and strategic growth. Mr May is a member of the Australasian Association for Clinical Biochemistry and Laboratory Medicine and holds a bachelor’s degree in science. Other current directorships: Nil Former directorships (last 3 years): Nil Special responsibilities: Chair of Audit and Risk Committee Interests in shares: 540,541 Interests in options: 1,240,541 Contractual rights to shares: Nil 'Other current directorships' quoted above are current directorships for listed entities only and excludes directorships of all other types of entities, unless otherwise stated. Company Secretary Mr Watkins is a Chartered Accountant who has extensive ASX experience within several industry sectors including Biotechnology, Bioscience, Resources and Information Technology. He specialises in ASX statutory reporting, ASX compliance, Corporate Governance and board and secretarial support. Mr Watkins is appointed Company Secretary on a number of ASX listed Companies. Mr Watkins is employed at Vistra Australia Pty Ltd (Vistra) and currently Australian Market Lead of Vistra. Vistra is a prominent provider of specialised consulting and administrative services to clients in the Fund, Corporate, Capital Markets, and Private Wealth sectors. Mr Watkins was appointed as Atomo’s Company Secretary on 9 June 2024. Meetings of directors The number of meetings of the company's Board of Directors ('the Board') held during the period ended 30 June 2026, and the number of meetings attended by each director were: Full Board Audit and Risk Committee Attended Held1 Attended Held1 Patrick Cook2 7 7 3 3 Cheri Walker4 7 7 3 3 Anthony May 7 7 3 3 John Kelly3 7 7 3 3 1 Represents the number of meetings when the director was eligible to attend as a member of the relevant committee. 2 Appointed Chair on 9 September 2025 3 Resigned Interim Chair on 9 September 2025 and resigned from Managing Director and Chief Executive Officer on 19 August 2026 4 Appointed Interim Chief Executive Officer on 19 August 2026 Remuneration report (audited) The remuneration report details the key management personnel remuneration arrangements for the group, in accordance with the requirements of the Corporations Act 2001 and its Regulations. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including all directors. The key management personnel of the group during the financial year consisted of the following Directors of the Company: ● Patrick Cook – Non-Executive Director and Chair (Appointed Chair on 9 September 2025) ● John Kelly – Managing Director and Chief Executive Officer (Resigned on 19 August 2026) & Interim Chair (from 23 May 2025 to 9 September 2025) ● Cheri Walker – Executive Director & Interim Chief Executive Officer (Appointed on 19 August 2026) ● Anthony May – Non-Executive Director And the following executives: ● Chandra Sukumar – Chief Operating Officer
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 6 The remuneration report is set out under the following main headings: ● Remuneration Governance ● Principles used to determine the nature and amount of remuneration ● Details of remuneration ● Service agreements ● Share-based compensation ● Additional disclosures relating to key management personnel ● Statutory performance indicators Remuneration Governance The function and responsibilities in respect of remuneration and nomination related matters is fulfilled by the Board in relation to: (i) recruitment, retention and termination policies and practices for Executive Directors and direct reports to the Managing Director and the alignment of the policies and practices with the promotion and sustainment of a culture aligned with Atomo's values, the promotion of long term sustainable success and the achievement of the company's business objectives; (ii) people strategies and practices which will instil and reinforce the Company’s purpose and values, ensure health and wellbeing (physical and mental) and support the achievement of the company's long term business objectives; (iii) the development of, and progress in meeting, the Company’s diversity objectives; and (iv) the Company’s performance appraisal processes for the Managing Director and the Managing Director’s direct reports, the Board, Board Committees and individual Non-Executive Directors. The Audit Risk Committee (ARC), is the only sub-committee of the Board. The members of the ARC at the date of this report is as follows: ● Anthony May (Chair) ● Cheri Walker (Chair up to 19 August 2026) ● Patrick Cook The role and responsibilities, composition, structure and membership requirements of the PCNRC (currently fulfilled by the Board) are documented in the People, Culture, Nomination and Remuneration Committee Charter which is available on Atomo’s website at: https://atomodiagnostics.com/governance/. Principles used to determine the nature and amount of remuneration Non-executive directors remuneration Each of the Non-Executive Directors has entered into appointment letters with Atomo confirming the terms of their appointment and their roles and responsibilities. The appointment letters are on standard commercial terms. Directors may also be reimbursed for expenses properly incurred by them in dealing with the Company’s business or in carrying out their duties as a Director. Under the Constitution, the Board decides the amount paid to each Non-Executive Director as remuneration for their services as a Director. However, under the ASX Listing Rules, the total amount of fees paid to all Non-Executive Directors for their services must not exceed in aggregate in any financial year the amount fixed by the Company’s shareholders in general meeting. This amount has been fixed initially in the Company’s Constitution at $500,000 per annum in aggregate and may be varied by ordinary resolution in a general meeting. Executive remuneration The group aims to reward executives based on their position and responsibility, with a level and mix of remuneration which has both fixed and variable components. The executive remuneration and reward framework has four components: ● base pay ● short-term performance incentives ● share-based payments ● other remuneration such as superannuation and long service leave The combination of these comprises the executive's total remuneration. Fixed remuneration, consisting of base salary and superannuation are reviewed annually by the Board based on individual and business unit performance, the overall performance of the group and comparable market remunerations. Executives may receive their fixed remuneration in the form of cash or other benefits where it does not create any additional costs to the group and provides additional value to the executive. The short-term incentives ('STI') program is designed to align the targets of the business units with the performance hurdles of executives. STI payments are granted to executives based on specific annual targets and key performance indicators ('KPI's') being achieved. Details of STIs paid to executives during the year can be found under the heading "Amounts of remuneration" below.
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 7 The long-term incentives ('LTI') include long service leave and share-based payments. Further details in relation to Atomo’s Employee Share Option Plan ('ESOP') can be found under the heading “Share-based compensation” below. During the financial period ended 30 June 2026, the group, through the Board Committee, engaged SLM Corporate, remuneration consultants, to undertake an independent review of executive remunerations. The review assessed current executive remuneration against relevant market benchmarks and concluded that remuneration levels were withing appropriate market ranges. SLM Corporate was paid $7,150 for these services. Details of remuneration Amounts of remuneration Details of the remuneration of key management personnel of the group are set out in the following tables. Short-term benefits Post- employment benefits Long-term benefits Share-based payments Cash salary Cash Non- Super- Long service Equity- and fees bonus monetary annuation leave settled Total 30 June 2026 AUD AUD AUD AUD AUD AUD AUD Non-Executive Directors: Patrick Cook1 43,750 - - - - 40,632 84,382 Cheri Walker3 50,000 - - - - 29,023 79,023 Anthony May 39,063 - - 4,688 - 20,316 64,067 Executive Directors: John Kelly2 396,969 28,710 - 30,000 20,271 - 475,950 Other Key Management Personnel: Chandra Sukumar 274,015 59,625 - 30,000 10,145 - 373,785 803,797 88,335 - 64,688 30,416 89,971 1,077,207 1 Appointed Chair on 9 September 2025 2 Resigned Interim Chair on 9 September 2025 and resigned from Managing Director & Chief Executive Officer on 19 August 2026 3 Appointed Interim Chief Executive Officer 19 August 2026 Short-term benefits Post- employment benefits Long-term benefits Share-based payments Cash salary Cash Non- Super- Long service Equity- and fees bonus monetary annuation leave settled Total 30 June 2025 AUD AUD AUD AUD AUD AUD AUD Non-Executive Directors: Patrick Cook1 4,167 - - - - - 4,167 Cheri Walker 50,000 - - - - - 50,000 Anthony May1 3,737 - - 430 - - 4,167 John Keith2 108,333 - - - - - 108,333 Paul Kasian2 52,317 - - 6,016 - - 58,333 Deborah Neff2 75,000 - - - - - 75,000 Executive Directors: John Kelly3 415,427 - - 29,932 (19,568) - 425,791 Other Key Management Personnel: Chandra Sukumar 265,520 - - 29,932 21,405 - 316,857 974,501 - - 66,310 1,837 - 1,042,648 1 Appointed on 2 May 2025 2 Resigned on 2 May 2025 3 Appointed Interim Chair on 23 May 2025
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 8 The proportion of remuneration linked to performance and the fixed proportion are as follows: Fixed remuneration At risk - STI At risk - LTI Name 30 June 2026 30 June 2025 30 June 2026 30 June 2025 30 June 2026 30 June 2025 Non-Executive Directors: Patrick Cook1 & 4 100% 100% - - - - Cheri Walker5 100% 100% - - - - Anthony May1 100% 100% - - - - John Keith2 - 100% - - - - Paul Kasian2 - 100% - - - - Deborah Neff2 - 100% - - - - Executive Directors: John Kelly3 77% 100% 23% - - - Other Key Management Personnel: Chandra Sukumar 79% 100% 21% - - - 1 Appointed on 2 May 2025 2 Resigned on 2 May 2025 3 Appointed Interim Chair on 23 May 2025 to 9 September 2025 and resigned from Managing Director & Chief Executive Officer on 19 August 2026 4 Appointed Chair on 9 September 2025 5 Appointed Interim Chief Executive Officer on 19 August 2026 Cash bonuses are dependent on meeting defined performance measures. The maximum bonus values are established at the start of each financial year and amounts payable to KMPs are determined by the Board in consultation with the Audit Risk Committee. The proportion of the cash bonus paid/payable or forfeited is as follows: Cash bonus paid/payable Cash bonus forfeited Name 30 June 2026 30 June 2025 30 June 2026 30 June 2025 Non-Executive Directors: Patrick Cook1 & 4 - - - - Cheri Walker5 - - - - Anthony May1 - - - - John Keith2 - - - - Paul Kasian2 - - - - Deborah Neff2 - - - - Executive Directors: John Kelly3 22% - 78% 100% Other Key Management Personnel: Chandra Sukumar 75% - 25% 100% 1 Appointed on 2 May 2025 2 Resigned on 2 May 2025 3 Appointed Interim Chair on 23 May 2025 to 9 September 2025 and resigned from Managing Director & Chief Executive Officer on 19 August 2026 4 Appointed Chair on 9 September 2025 5 Appointed Interim Chief Executive Officer on 19 August 2026
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 9 Service agreements Remuneration and other terms of employment for key management personnel are formalised in service agreements. Details of these agreements are as follows: Name: Cheri Walker Title: Executive Director Interim Chief Executive Officer (Appointed 19 August 2026) Agreement commenced: 19 August 2026 Term of agreement: Not specified - agreement has been revised since commencement date of service Details: Initial term of 6-months agreement, with may be extended for further 6-months by mutual agreement. Annualised remuneration for Interim Chief Executive Officer position is $445,000. Cheri Walker remains as Executive Director of Atomo, with annual remuneration of $50,000. Cheri Walker is entitled to participate in the Company’s share and option plans. Please refer to the section titled “Share-based compensation” for further details. Ninety (90) days' notice by either party however this notice period does not apply if the employment is terminated for serious and wilful misconduct or any conduct by Cheri Walker that amounts to fraud, theft, violence, harassment, gross negligence or any other action that may otherwise bring the Company into disrepute. Name: John Kelly Title: Managing Director (Resigned on 19 August 2026) Agreement commenced: 1 October 2011 Term of agreement: Not specified - agreement has been revised since commencement date of service Details: Annual salary of $440,000 (including superannuation). The fixed remuneration will alter by any changes in the compulsory superannuation contribution that Atomo Diagnostics Limited is required to make. Plus a cash bonus of up to 30% of gross salary (subject to the satisfaction of performance criteria), to be reviewed annually by the People, Culture, Nomination & Remuneration Committee. John Kelly is entitled to participate in the Company’s share and option plans. Please refer to the section titled “Share-based compensation” for further details. Ten (10) week termination notice by either party however this notice period does not apply if the employment is terminated for serious and wilful misconduct or any conduct by John Kelly that amounts to fraud, theft, violence, harassment, gross negligence or any other action that may otherwise bring the Company into disrepute. Name: Chandra Sukumar Title: Chief Operating Officer Agreement commenced: 31 October 2016 Term of agreement: Not specified - agreement has been revised since commencement date of service Details: Annual salary of $265,000 (excluding superannuation). The fixed remuneration will alter by any changes in the compulsory superannuation contribution that Atomo Diagnostics Limited is required to make. Plus a cash bonus of up to 30% of base salary (subject to the satisfaction of performance criteria), to be reviewed annually by the People, Culture & Remuneration Committee. Chandra Sukumar is entitled to participate in the Company’s share and option plans. Please refer to the section titled “Share-based compensation” for further details. Ten (10) week termination notice by either party however this notice period does not apply if the employment is terminated for serious and wilful misconduct or any conduct by Chandra Sukumar that amounts to fraud, theft, violence, harassment, gross negligence or any other action that may otherwise bring the Company into disrepute. Share-based compensation Option plan details The Board has exercised its discretion to allocate the following options to management in prior periods as part of the Company's remuneration scheme to reward the diligent execution of the corporate strategy and to ensure retention of the key talent needed to deliver strategic outcome in the interest of shareholders.
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 10 As at the date of this report, the Company had on issue 3,375,000 options to KMPs and Non-Executive Directors under the option plan. The terms and conditions of each grant of options over ordinary shares affecting remuneration of directors and other key management personnel in this financial period or future reporting years are as follows: Number of Fair value options Vesting date and per option Name granted Grant date exercisable date Expiry date Exercise price at grant date Chandra Sukumar 275,000 22 August 2023 22 August 2023 22 August 2026 AUD0.047 AUD0.030 Patrick Cook 1,400,000 12 December 2025 30 June 2026 30 June 2028 AUD0.012 AUD0.039 Cheri Walker 1,000,000 12 December 2025 30 June 2026 30 June 2028 AUD0.012 AUD0.039 Anthony May 700,000 12 December 2025 30 June 2026 30 June 2028 AUD0.012 AUD0.039 All options were granted over unissued fully paid ordinary shares in the Company. Options granted carry no dividend or voting rights. Additional disclosures relating to key management personnel Shareholding The number of shares in the company held during the financial period by each director and other members of key management personnel of the group, including their personally related parties, is set out below: Balance at Received Balance at the start of as part of Disposals & the end of the period remuneration Additions other the period Ordinary shares Patrick Cook1 717,909 - - - 717,909 Cheri Walker3 - - - - - Anthony May 540,541 - - - 540,541 John Kelly2 74,111,870 - - - 74,111,870 Chandra Sukumar 440,271 - - (440,271) - 75,810,591 - - (440,271) 75,370,320 1 Appointed Chair on 9 September 2025 2Appointed Interim Chair on 23 May 2025 to 9 September 2025 and resigned from Managing Director & Chief Executive Officer on 19 August 2026 3 Appointed Interim Chief Executive Officer on 19 August 2026 Option holding The number of options over ordinary shares in the company held during the financial period by each director and other members of key management personnel of the group, including their personally related parties, is set out below: Balance at Expired/ Balance at the start of forfeited/ the end of the period Granted Exercised other the period Options over ordinary shares Patrick Cook1 540,541 1,400,000 - - 1,940,541 Cheri Walker - 1,000,000 - - 1,000,000 Anthony May 540,541 700,000 - - 1,240,541 John Kelly2 1,621,622 - - - 1,621,622 Chandra Sukumar 545,271 - - - 545,271 3,247,975 3,100,000 - - 6,347,975 1 Appointed Chair on 9 September 2025 2 Appointed Interim Chair on 23 May 2025 to 9 September 2025 and resigned from Managing Director & Chief Executive Officer on 19 August 2026 3 Appointed Interim Chief Executive Officer on 19 August 2026 Statutory performance indicators The group aims to align its executive remuneration to its strategic and business objectives and the creation of shareholder wealth. The table below shows measures of the group’s financial performance over the last three years as required by the Corporations Act 2001. However, these are not necessarily consistent with the measures used in determining the variable amounts of remuneration to be awarded to KMPs. As a consequence, there may not always be a direct correlation between the statutory key performance measures and the variable remuneration awarded.
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 11 Measure 2026 2025 2024 Loss for the year attributable to the Company ($) (3,513,587) (4,970,934) (6,847,803) Basic earnings per share (cents) (0.43) (0.77) (1.08) Dividend payments - - - Dividend payout ratio - - - (Decrease) / increase in share price 21.4% (44%) 14% Total KMP incentives as a percentage of (loss) for the year (30.7%) (21.0%) (19.1%) This concludes the remuneration report, which has been audited. Shares under option Unissued ordinary shares of Atomo Diagnostics Limited under option at the date of this report are as follows: Exercise Number Options Expiry date price under option Employee share options 22 August 2026 AUD0.047 275,000 Employee share options 1 July 2027 AUD0.035 3,180,000 Options issued to shareholders on placement 5 May 2028 AUD0.040 46,929,731 Options issued to shareholders on placement & SPP 27 June 2028 AUD0.040 50,983,142 Options issued to shareholders on placement 3 July 2028 AUD0.040 31,729,730 Options issued to shareholders on SPP 24 July 2028 AUD0.040 16,810,814 Options issued to shareholders on SPP 14 August 2028 AUD0.040 22,519,555 Options issued to shareholders on placement 8 October 2028 AUD0.045 50,454,536 Options issued to shareholders on SPP 15 November 2028 AUD0.045 674,229 Employee share options 30 June 2028 AUD0.012 3,800,000 Employee share options 30 June 2028 AUD0.012 3,100,000 230,456,737 No person entitled to exercise the options had or has any right by virtue of the option to participate in any share issue of the Company or of any other body corporate. Shares issued on the exercise of options There were no ordinary shares of Atomo Diagnostics Limited issued on the exercise of options during the period ended 30 June 2026 and up to the date of this report. Indemnity and insurance of officers The company has indemnified the directors and executives of the company for costs incurred, in their capacity as a director or executive, for which they may be held personally liable, except where there is a lack of good faith. During the financial period, the company paid a premium in respect of a contract to insure the directors and executives of the company against a liability to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. Indemnity and insurance of auditor The company has not, during or since the end of the financial period, indemnified or agreed to indemnify the auditor of the company or any related entity against a liability incurred by the auditor. During the financial period, the company has not paid a premium in respect of a contract to insure the auditor of the company or any related entity. Proceedings on behalf of the company No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the company, or to intervene in any proceedings to which the company is a party for the purpose of taking responsibility on behalf of the company for all or part of those proceedings.
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Atomo Diagnostics Limited Directors' report For the period ended 30 June 2026 12 Non-audit services Details of the amounts paid or payable to the auditor for non-audit services provided during the financial year by the auditor are outlined in note 22 to the financial statements. The directors are satisfied that the provision of non-audit services during the financial period, by the auditor (or by another person or firm on the auditor's behalf), is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001. The directors are of the opinion that the services as disclosed in note 22 to the financial statements do not compromise the external auditor's independence requirements of the Corporations Act 2001 for the following reasons: ● all non-audit services have been reviewed and approved to ensure that they do not impact the integrity and objectivity of the auditor; and ● none of the services undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants issued by the Accounting Professional and Ethical Standards Board, including reviewing or auditing the auditor's own work, acting in a management or decision-making capacity for the company, acting as advocate for the company or jointly sharing economic risks and rewards. Officers of the company who are former partners of BDO There are no officers of the company who are former partners of BDO. Rounding of Amounts The group is of a kind referred to in Corporations Instrument 2016/191, issued by the Australian Securities and Investments Commission, relating to 'rounding-off'. Amounts in this report have been rounded off in accordance with that Corporations Instrument to the nearest dollar. Auditor's independence declaration A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors' report. Auditor BDO Audit Pty Ltd continues in office in accordance with section 327 of the Corporations Act 2001. This report is made in accordance with a resolution of directors, pursuant to section 298(2)(a) of the Corporations Act 2001. On behalf of the directors ___________________________ Patrick Cook Chair 31 August 2026 Sydney
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Parkline Place Level 25, 252 Pitt Street Sydney NSW 2000 Australia Tel: +61 2 9251 4100 Fax: +61 2 9240 9821 www.bdo.com.au BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation. DECLARATION OF INDEPENDENCE BY RAJNIL KUMAR TO THE DIRECTORS OF ATOMO DIAGNOSTICS LIMITED As lead auditor of Atomo Diagnostics Limited for the year ended 30 June 2026, I declare that, to the best of my knowledge and belief, there have been: 1. No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and 2. No contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in respect of Atomo Diagnostics Limited and the entities it controlled during the period. Rajnil Kumar Director BDO Audit Pty Ltd Sydney, 31 August 2026 13
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Atomo Diagnostics Limited Contents For the period ended 30 June 2026 14 S tatement of Profit or Loss and Other Comprehensive Income 15 Statement of Financial Position 16 Statement of Changes in Equity 17 Statement of Cash Flows 18 Notes to the Financial Statements 19 Consolidated entity disclosure statement 41 Directors' declaration 42 Independent auditor's report to the members of Atomo Diagnostics Limited 43 Shareholder information 47 General information The financial statements cover Atomo Diagnostics Limited as a group consisting of Atomo Diagnostics Limited and the entities it controlled at the end of, or during, the period. The financial statements are presented in Australian dollars, which is Atomo Diagnostics Limited's functional and presentation currency. Atomo Diagnostics Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business are: Registered office Principal place of business Level 1 Level 1 3 - 5 George Street 3 - 5 George Street Leichhardt NSW 2040 Leichhardt NSW 2040 A description of the nature of the group's operations and its principal activities is included in the directors' report, which is not part of the financial statements. The financial statements were authorised for issue, in accordance with a resolution of directors, on 31 August 2026. The directors have the power to amend and reissue the financial statements.
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Atomo Diagnostics Limited Statement of Profit or Loss and Other Comprehensive Income For the period ended 30 June 2026 Consolidated Note 30 June 2026 30 June 2025 AUD AUD The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 15 Revenue 3 5,333,849 3,792,359 Costs of sales (3,454,749) (1,872,669) Gross profit 1,879,100 1,919,690 Other Income 4 2,234,374 1,517,670 Employee benefits expense 5 (2,880,430) (3,258,960) Foreign exchange gains (44,831) (9,584) Depreciation and amortisation expense 5 (1,428,772) (1,582,562) Research and development expenses (758,115) (619,909) Insurance (222,784) (248,858) Inventory obsolescence expense (116,226) (126,833) IT expenses (203,891) (192,936) Occupancy expenses (8,277) (7,428) Professional and consulting fee expenses (490,655) (947,410) Regulatory expenses (664,365) (625,959) Travel expenses (28,910) (66,877) Other expenses (765,065) (704,292) Finance costs 5 (14,740) (16,686) Loss before income tax expense (3,513,587) (4,970,934) Income tax expense 6 - - Loss after income tax expense for the period attributable to the owners of Atomo Diagnostics Limited (3,513,587) (4,970,934) Other comprehensive income Items that may be reclassified subsequently to profit or loss Foreign currency translation 90,123 75,466 Other comprehensive income for the period, net of tax 90,123 75,466 Total comprehensive income for the period attributable to the owners of Atomo Diagnostics Limited (3,423,464) (4,895,468) AUD Cents AUD Cents Basic Loss per share 28 (0.425) (0.768) Diluted Loss per share 28 (0.425) (0.768)
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Atomo Diagnostics Limited Statement of Financial Position As at 30 June 2026 Consolidated Note 30 June 2026 30 June 2025 AUD AUD The above statement of financial position should be read in conjunction with the accompanying notes 16 Assets Current assets Cash and cash equivalents 7 3,708,792 3,219,646 Trade and other receivables 8 3,224,798 1,693,480 Inventories 9 1,968,156 1,650,749 Total current assets 8,901,746 6,563,875 Non-current assets Property, plant and equipment 10 341,244 891,975 Right-of-use assets 11 363,382 176,930 Intangible assets 12 1,219,003 1,644,546 Total non-current assets 1,923,629 2,713,451 Total assets 10,825,375 9,277,326 Liabilities Current liabilities Trade and other payables 13 1,292,700 611,048 Lease liabilities 14 255,815 155,424 Provisions 15 321,469 276,706 Deferred revenue 16 1,061,174 1,122,838 Total current liabilities 2,931,158 2,166,016 Non-current liabilities Lease liabilities 17 117,267 29,677 Provisions 18 70,168 105,817 Total non-current liabilities 187,435 135,494 Total liabilities 3,118,593 2,301,510 Net assets 7,706,782 6,975,816 Equity Issued capital 19 75,829,129 71,838,387 Reserves 20 345,566 91,755 Accumulated losses (68,467,913) (64,954,326) Total equity 7,706,782 6,975,816
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Atomo Diagnostics Limited Statement of Changes in Equity For the period ended 30 June 2026 The above statement of changes in equity should be read in conjunction with the accompanying notes 17 Issued Foreign Currency Translation Share Based Payment Accumulated Total Equity Capital Reserve Reserve Losses Consolidated AUD AUD AUD AUD AUD Balance at 1 July 2024 70,086,549 (118,322) 206,727 (60,090,335) 10,084,619 Loss after income tax expense for the period - - - (4,970,934) (4,970,934) Other comprehensive income for the period, net of tax - 75,466 - - 75,466 Total comprehensive income for the period - 75,466 - (4,970,934) (4,895,468) Transactions with owners in their capacity as owners: Equity-settled share based payments - - 34,827 - 34,827 Issue of shares 1,861,439 - - - 1,861,439 Issue costs (109,601) - - - (109,601) Lapsed and Cancelled Options - - (106,943) 106,943 - Balance at 30 June 2025 71,838,387 (42,856) 134,611 (64,954,326) 6,975,816 Issued Foreign Currency Translation Share Based Payment Accumulated Total Equity Capital Reserve Reserve Losses Consolidated AUD AUD AUD AUD AUD Balance at 1 July 2025 71,838,387 (42,856) 134,611 (64,954,326) 6,975,816 Loss after income tax expense for the period - - - (3,513,587) (3,513,587) Other comprehensive income for the period, net of tax - 90,123 - - 90,123 Total comprehensive income for the period - 90,123 - (3,513,587) (3,423,464) Transactions with owners in their capacity as owners: Equity-settled share based payments - - 163,688 - 163,688 Issue of shares 4,339,112 - - - 4,339,112 Issue costs (348,370) - - - (348,370) Balance at 30 June 2026 75,829,129 47,267 298,299 (68,467,913) 7,706,782
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Atomo Diagnostics Limited Statement of Cash Flows For the period ended 30 June 2026 Consolidated Note 30 June 2026 30 June 2025 AUD AUD The above statement of cash flows should be read in conjunction with the accompanying notes 18 Cash flows from operating activities Receipts from customers (inc. of GST) 4,622,048 5,137,858 Payments to suppliers and employees (inc. of GST) (9,600,684) (8,982,195) (4,978,636) (3,844,337) Interest received 75,156 58,865 R & D and other government grants received 1,535,515 1,826,655 Net cash used in operating activities 27 (3,367,965) (1,958,817) Cash flows from investing activities Payments for property, plant and equipment 10 (35,323) (33,891) Net cash used in investing activities (35,323) (33,891) Cash flows from financing activities Net proceeds form issue of share capital (net of costs) 4,059,742 1,652,838 Repayment of leases (244,940) (190,423) Net cash from financing activities 3,814,802 1,462,415 Net increase/(decrease) in cash and cash equivalents 411,514 (530,293) Cash and cash equivalents at the beginning of the financial period 3,219,646 3,687,990 Effects of exchange rate changes on cash and cash equivalents 77,632 61,949 Cash and cash equivalents at the end of the financial period 7 3,708,792 3,219,646
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 19 Note 1. Material accounting policy information New or amended Accounting Standards and Interpretations adopted The group has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. The Directors have reviewed all of the new and revised accounting standards and interpretations issued by the Australian Accounting Standards Board for annual reporting periods beginning or after 1 July 2025. It has been determined that there is no impact, material or otherwise, of any other new or revised accounting standards and interpretations. Basis of preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') and the Corporations Act 2001, as appropriate for for- profit oriented entities. These financial statements also comply with International Financial Reporting Standards as issued by the International Accounting Standards Board ('IASB'). Historical cost convention The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets and liabilities at fair value through profit or loss, financial assets at fair value through other comprehensive income, investment properties, certain classes of property, plant and equipment and derivative financial instruments. Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2. Going concern The annual report has been prepared on the going concern basis, which assumes continuity of normal business activities and the realisation of the assets and the settlement of liabilities in the ordinary course of business. As disclosed in the financial statements, the group incurred a loss of $3,513,587 (2025: $4,970,934) and had net cash outflows from operating activities of $3,367,965 (2025: $1,958,817) for the year ended 30 June 2026. The group had a surplus between current assets and current liabilities of $5,970,588 (2025: $4,397,859 surplus) and cash balance of $3,708,792 (2025: $3,219,646) as at 30 June 2026. Notwithstanding these results, the directors consider it appropriate to prepare the financial statements on a going concern basis, having regard to: ● Successful completion of various capital raising activities during the period, bringing total capital raised for the period to $4,339,112 excluding transactions costs as at 30 June 2026; ● Increased revenue from opportunities with existing and new customers and sales arrangements as they are realised into sales revenue; ● Effective monitoring and reduction of the group’s overhead expenditures, including the continued realisation of head office c ost reductions; and ● The Company's ability to raise further capital through issue of additional shares if required. Accordingly, the directors believe the group will be able to pay its debts as and when they fall due and continue operations for the foreseeable future. The financial statements have therefore been prepared on a going concern basis. Reclassification of prior year amounts and balances When required by Accounting standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year. Parent entity information In accordance with the Corporations Act 2001, these financial statements present the results of the group only. Supplementary information about the parent entity is disclosed in note 24. Principles of consolidation The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Atomo Diagnostics Limited ('company' or 'parent entity') as at 30 June 2026 and the results of all subsidiaries for the period then ended. Atomo Diagnostics Limited and its subsidiaries together are referred to in these financial statements as the 'group'.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 1. Material accounting policy information (continued) 20 Subsidiaries are all those entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are de- consolidated from the date that control ceases. Intercompany transactions, balances and unrealised gains on transactions between entities in the group are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. The acquisition of subsidiaries is accounted for using the acquisition method of accounting. A change in ownership interest, without the loss of control, is accounted for as an equity transaction, where the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent. Non-controlling interest in the results and equity of subsidiaries are shown separately in the statement of profit or loss and other comprehensive income, statement of financial position and statement of changes in equity of the group. Losses incurred by the group are attributed to the non-controlling interest in full, even if that results in a deficit balance. Where the group loses control over a subsidiary, it derecognises the assets including goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity. The group recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss. Operating segments The group manages its operations as a single business operation and there are no parts of the group that qualify as operating segments under AASB 8 Operating Segments. The CEO (Chief Operating Decision Maker or “CODM”) assesses the financial performance of the group in an integrated basis only and accordingly, the group is managed on the basis of a single segment, being medical device research and development. Information presented to the CODM on a monthly basis is categorised by type of expenditure. Major Customers During the year ended 30 June 2026 approximately 92.0% (30 June 2025: 72.5%) of the group's revenue was derived from sales to customers as follows: Consolidated 30 June 2026 30 June 2025 Customer A 15.9% 16.0% Customer B 26.1% 25.4% Customer C 9.7% 8.1% Customer D 4.1% 11.7% Customer E 36.2% 11.3% Total 92.0% 72.5% Foreign currency translation The financial statements are presented in Australian dollars, which is Atomo Diagnostics Limited's functional and presentation currency. Foreign currency transactions Foreign currency transactions are translated into Australian dollars using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Foreign operations The assets and liabilities of foreign operations are translated into Australian dollars using the exchange rates at the reporting date. The revenues and expenses of foreign operations are translated into Australian dollars using the average exchange rates, which approximate the rates at the dates of the transactions, for the period. All resulting foreign exchange differences are recognised in other comprehensive income through the foreign currency reserve in equity. The foreign currency reserve is recognised in profit or loss when the foreign operation or net investment is disposed of. Revenue recognition The consolidated entity recognises revenue as follows:
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 1. Material accounting policy information (continued) 21 Revenue from contracts with customers and sale of goods and services Revenue is measured based on the consideration specified in a contract with a customer. The group recognises revenue when it transfers control over a good or service to a customer as per agreement arranged. This varies between: ● Goods are ready and released by Quality Assurance (QA) ● Goods are made available at collection point ex-works ● Goods are delivered to customer at the arranged delivery point ● Goods have been dispatched from manufacturing warehouse ex-works ● Services is recognised over time as the services rendered are based on either an hourly rate or a fixed price Where ex-works is agreed, the customer is responsible to make necessary arrangements for freight and the collection of goods from the group's warehouse. Invoices are usually payable within 30 to 75 days, dependent on the contracted agreement. The contracts do not allow the customers to return the goods as the testing kits have a set shelf-life and have gone through vigorous testing prior to delivery. Interest Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. Other revenue Other revenue is recognised when it is received or when the right to receive payment is established. Grant income During the period, Atomo was awarded a CRC-P grant to develop Active Syphilis test. The Group receives grant funds to undertake certain activities to develop the Active Syphilis rapid blood test. Government grants relating to costs are deferred and recognised in profit or loss over the period necessary to match them with the costs that they are intended to compensate. Where grant income is received upfront and yet to be expended, the funds received is recognised as deferred revenue. As at 30 June 2026, $840,354 has been recognised as deferred revenue and $886,925, has been recognised as grant income. Income tax Income tax expense comprises current and deferred tax. It is recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in other comprehensive income. Current tax: Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the reporting date. Current tax also includes any tax liability arising from dividends. Current tax assets and liabilities are offset only if certain criteria are met. Deferred tax: Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognised for temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, or on taxable temporary differences arising on the initial recognition of goodwill. Deferred tax assets are recognised for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised; such reductions are reversed when the probability of future taxable profits improves. Unrecognised deferred tax assets are reassessed at each reporting date and recognised to the extent that it has become probable that future taxable profits will be available against which they can be used. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date. The measurement of deferred tax reflects the tax consequences that could follow the manner in which the group expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset only if certain criteria are met.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 1. Material accounting policy information (continued) 22 R&D tax incentives: R&D tax incentives received by the group are recognised as other income over the periods necessary to match the benefit of the incentive with the cost for which it is intended to compensate ("associated cost"). Such periods will depend on whether the associated costs are capitalised or expensed as incurred. Under this policy, for that portion of associated costs which are expensed during the period, the proportional incentive is recognised in other income in full during the same period. For that portion of associated costs which are capitalised during the period, the proportional incentive is initially offset against the capitalised associated costs and recognised against amortisation expense on a systematic basis matching the useful life of the capitalised asset. Current and non-current classification Assets and liabilities are presented in the statement of financial position based on current and non-current classification. An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the group's normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is classified as current when: it is either expected to be settled in the group's normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no right at the end of the reporting period to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non- current. Deferred tax assets and liabilities are always classified as non-current. Trade and other receivables Trade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 30 days but certain customers have longer payment terms. Other receivables are recognised at amortised cost, less any allowance for expected credit losses. Inventories Raw materials, work in progress and finished goods are stated at the lower of cost and net realisable value on a 'first-in-first-out' basis. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Property, plant and equipment Recognition and measurement: Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. If significant parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. Any gain and loss on disposal of an item of property, plant and equipment is recognised in profit or loss. Subsequent expenditure: Subsequent expenditure is capitalised only when it is probable that the future economic benefits associated with the expenditure will flow to the group. Depreciation: Depreciation is calculated based on the cost of property, plant and equipment less their estimated residual values using the straight- line basis over their estimated useful lives, and is generally recognised in profit or loss. The estimated useful lives of property, plant and equipment are as follows: Plant and Equipment 2 - 5 years Leasehold improvements 1 - 3 years Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 1. Material accounting policy information (continued) 23 Intangible assets Recognition and measurement: Computer software: Computer software comprises computer application system software and licenses. Costs incurred in developing products or systems and costs incurred in acquiring software and licenses that will contribute to future period financial benefits through revenue generation and/or cost reduction are capitalised to computer software. Costs capitalised include external direct costs of materials and services, direct payroll and payroll-related costs. Patents, trademarks and licences: Other intangible assets, including patents, trademarks and licences that are acquired by the group and have finite useful lives are measured at cost less any accumulated amortisation and impairment losses. Capitalised development costs: Capitalised development costs relate to the Company’s rapid test platforms and associated manufacturing assets and are capitalised only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the group intends to and has sufficient resources to complete development and to use or sell the asset. Otherwise, it is recognised in profit or loss as incurred. Subsequent to initial recognition, development expenditure is measured at cost less accumulated amortisation and any accumulated impairment losses. Expenditure on research activities is recognised in profit or loss as incurred. Subsequent expenditure: Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognised in profit or loss as incurred. Amortisation: Amortisation is calculated based on the cost of intangible assets less their estimated residual values using the straight-line method over their estimated useful lives, and is generally recognised in profit or loss. The estimated useful lives of intangible assets are as follows: Patents and trademarks 10 - 20 years Other intangibles 10 years Capitalised development costs 10 years Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. Deferred revenue Deferred revenues are amounts received upfront prior to the satisfaction of revenue performance obligations. Amounts expected to be recognised as revenue within the 12 months following the balance sheet date are classified within current liabilities. Amounts not expected to be recognised as revenue within the 12 months following the balance sheet date are classified within non-current liabilities at the present value amount. Impairment Non-financial assets: At each reporting date, the group reviews the carrying amounts of its non-financial assets (other than deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is valued. For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash generating units ('CGUs'). The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. An impairment loss is recognised if the carrying amount of an asset or CGU exceeds its recoverable amount. Impairment losses are recognised in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amount of assets in the CGU on a pro rata basis. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 1. Material accounting policy information (continued) 24 Financial instruments Classification and measurement – non-derivative financial assets and financial liabilities: The group's management assessed which business models applied to the financial assets held by the group and classified its financial instruments into the appropriate AASB 9 categories. Financial assets classified as held-to-maturity and loans and receivables under AASB 139 that were measured at amortised cost continued to be measured at amortised cost under AASB 9 as they are held within a business model to collect contractual cash flows and these cash flows consist solely of payments of principal and interest on the principal amount outstanding. In relation to the impairment of financial assets, AASB 9 requires an expected credit loss model as opposed to an incurred credit loss model under AASB 139. The expected credit loss model requires the group to account for expected credit losses and changes in those expected credit losses at each reporting date to reflect changes in credit risk since initial recognition of the financial assets. Consequently, it is no longer necessary for a credit event to have occurred before credit losses are recognised. The group has one type of financial assets (trade and other receivables) that are subject to AASB 9 expected credit loss model. Financial liabilities are classified as measured at amortised cost or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognised in profit or loss. Other financial liabilities are subsequently measured at amortised cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognised in profit or loss. Any gain or loss on derecognition is also recognised in profit or loss. Provisions Provisions are recognised when the group has a present (legal or constructive) obligation as a result of a past event, it is probable the consolidated entity will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. If the time value of money is material, provisions are discounted using a current pre-tax rate specific to the liability. The increase in the provision resulting from the passage of time is recognised as a finance cost. Employee benefits Short-term employee benefits: Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled. Other long-term employee benefits: The liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date are measured at the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on corporate bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows. Defined contribution superannuation expense: Contributions to defined contribution superannuation plans are expensed in the period in which they are incurred. Share-based payments: Equity-settled and cash-settled share-based compensation benefits are provided to employees. Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services. Cash-settled transactions are awards of cash for the exchange of services, where the amount of cash is determined by reference to the share price. The cost of equity-settled transactions are measured at fair value on grant date. Fair value is independently determined using either the Binomial or Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the consolidated entity receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions. The cost of equity-settled transactions are recognised as an expense with a corresponding increase in equity over the vesting period. Where early exercise has occurred, this cost is accelerated. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods. The cost of cash-settled transactions is initially, and at each reporting date until vested, determined by applying either the Binomial or Black-Scholes option pricing model, taking into consideration the terms and conditions on which the award was granted. The cumulative charge to profit or loss until settlement of the liability is calculated as follows:
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 1. Material accounting policy information (continued) 25 ● during the vesting period, the liability at each reporting date is the fair value of the award at that date multiplied by the expired portion of the vesting period. ● from the end of the vesting period until settlement of the award, the liability is the full fair value of the liability at the reporting date. All changes in the liability are recognised in profit or loss. The ultimate cost of cash-settled transactions is the cash paid to settle the liability. Market conditions are taken into consideration in determining fair value. Therefore any awards subject to market conditions are considered to vest irrespective of whether or not that market condition has been met, provided all other conditions are satisfied. If equity-settled awards are modified, as a minimum an expense is recognised as if the modification has not been made. An additional expense is recognised, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification. If the non-vesting condition is within the control of the consolidated entity or employee, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the consolidated entity or employee and is not satisfied during the vesting period, any remaining expense for the award is recognised over the remaining vesting period, unless the award is forfeited. If equity-settled awards are cancelled, it is treated as if it has vested on the date of cancellation, and any remaining expense is recognised immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification. Fair value measurement When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market. Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use. Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement. For recurring and non-recurring fair value measurements, external valuers may be used when internal expertise is either not available or when the valuation is deemed to be significant. External valuers are selected based on market knowledge and reputation. Where there is a significant change in fair value of an asset or liability from one period to another, an analysis is undertaken, which includes a verification of the major inputs applied in the latest valuation and a comparison, where applicable, with external sources of data. Issued capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Earnings per share Basic earnings per share: Basic earnings per share is calculated by dividing the profit attributable to the owners of Atomo Diagnostics Limited, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year. Diluted earnings per share: Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares. Goods and Services Tax ('GST') and other similar taxes Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 1. Material accounting policy information (continued) 26 Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority. Rounding of amounts The company is of a kind referred to in Corporations Instrument 2016/191, issued by the Australian Securities and Investments Commission, relating to 'rounding-off'. Amounts in this report have been rounded off in accordance with that Corporations Instrument to the nearest dollar. The accounting policies that are material to the group are set out either in the respective notes or below. The accounting policies adopted are consistent with those of the previous financial year, unless otherwise stated. Note 2. Critical accounting judgements, estimates and assumptions The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below. Revenue from contracts with customers involving sale of goods and services When recognising revenue in relation to the sale of goods to customers, the key performance obligation of the group is considered to be the point when customer obtains control of the promised goods as outlined in the arrangement. When recognising revenue in relation to services, revenue is recognised over time as the services is provided. Services are deemed rendered based on the contractual arrangements with the customer and as each performance obligation is identified and satisfied. Impairment of intangible assets The group tests intangible assets for impairment for each reporting period or more frequently if events or changes in circumstances indicate it has suffered an impairment, in accounting policy stated in note 1. The recoverable amount of a cash generating unit ('CGU') is determined based on value-in-use calculations whereby cash flows are projected and extrapolated over a five-year period with growth rates that do not exceed the long-term average growth rate for the market in which the group operates. The discount rate used reflects the group's pre-tax weighted average cost of capital. Capitalised development costs Costs that are directly associated with the development of products are recognised as intangible assets where the relevant criteria under the accounting standards are met, as described in Note 1. This requires a degree of estimation and judgement. Note 3. Revenue Consolidated 30 June 2026 30 June 2025 Revenue from contracts with customers AUD AUD Sale of goods 5,227,844 3,248,282 Rendering of services 106,005 544,077 5,333,849 3,792,359
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 3. Revenue (continued) 27 Disaggregation of revenue The disaggregation of revenue from contracts with customers is as follows: Consolidated 30 June 2026 30 June 2025 Major product lines AUD AUD Point-of-care tests 2,840,399 2,349,412 Point-of-care technology 2,150,773 695,137 Development & licence fees 106,005 544,077 Other revenue 236,672 203,733 Total 5,333,849 3,792,359 Consolidated 30 June 2026 30 June 2025 Timing of revenue recognition AUD AUD Goods transferred at a point in time 5,227,844 3,248,282 Services transferred over time 106,005 544,077 Total 5,333,849 3,792,359 Note 4. Other Income Consolidated 30 June 2026 30 June 2025 AUD AUD R&D tax rebate 1,260,540 1,060,959 Government grant 886,925 387,239 Interest income 75,156 58,865 Other income 11,753 10,607 Total 2,234,374 1,517,670
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 28 Note 5. Expenses Consolidated 30 June 2026 AUD 30 June 2025 AUD Loss before income tax from continuing operations includes the following specific expenses: Employee benefits expense Salaries, wages and directors' fees 2,284,901 2,886,672 Contributions to defined contribution superannuation funds 220,523 263,353 Equity-settled share-based payments 163,688 34,827 Other employment related expenses 211,318 74,108 Total 2,880,430 3,258,960 Depreciation and amortisation Depreciation expense (Note 10) 586,054 783,435 Right-of-use assets (Note 11) 230,978 179,223 Amortisation expense (Note 12) 610,989 619,904 Total 1,428,021 1,582,562 Finance Cost Interest expense - 6,418 Lease interest expense 14,740 10,268 Total 14,740 16,686 Note 6. Income tax (a) Income tax benefit Income tax benefit comprises current and deferred tax expense and is recognised in profit or loss, except to the extent that it relates to a business combination or items recognised directly in equity or other comprehensive income. The components of income tax benefit comprise: Consolidated 30 June 2026 30 June 2025 AUD AUD Income tax expense Current tax - - Deferred tax - origination and reversal of temporary differences - - Aggregate income tax expense - - Numerical reconciliation of income tax expense and tax at the statutory rate Loss before income tax expense (3,513,587) (4,970,934) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Tax using the Group's average tax rate 25% (2025: 25%) 836,377 1,141,925 Permanent and temporary difference (492,783) (35,196) Tax losses not brought to account (343,594) (1,106,729) Income tax expense - - (b) Deferred tax assets and liabilities Due to the uncertainty of the group generating sufficient taxable income to offset tax losses carried forward, the future tax benefits of these losses, to the extent that they do not set off temporary differences that have resulted in deferred tax liabilities, has not been brought to account in these financial statements.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 6. Income tax (continued) 29 Consolidated 30 June 2026 30 June 2025 AUD AUD Net tax effect of carried forward losses not brought to account 9,344,211 9,012,632 Note 7. Current assets - cash and cash equivalents Consolidated 30 June 2026 30 June 2025 AUD AUD Cash at bank 3,708,792 3,219,646 Note 8. Current assets - trade and other receivables Consolidated 30 June 2026 30 June 2025 AUD AUD Trade receivables 1,843,691 626,560 Less: Allowance for expected credit losses (9,239) (9,067) 1,834,452 617,493 Other receivables 315,252 200,473 R&D tax rebate receivable 1,075,094 875,514 Total 3,224,798 1,693,480 Allowance for expected credit losses The group monitors its level of debt recovery at each reporting date (including interim reporting dates) in order to assess for any changes in the probability of customers' ability to pay, including due to external factors. The ageing of the receivables and allowance for expected credit losses provided for above are as follows: Carrying amount Allowance for expected credit losses 30 June 2026 30 June 2025 30 June 2026 30 June 2025 Consolidated AUD AUD AUD AUD 0 to 30 Days 1,755,125 325,958 7,262 3,018 31 to 60 Days 75,331 1,006 680 10 61 to 90 Days 506 119,142 20 2,513 91 to 120 Days - 175,368 - 1,272 121+ Days 12,729 5,086 1,277 2,254 Total 1,843,691 626,560 9,239 9,067
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 30 Note 9. Current assets - inventories Consolidated 30 June 2026 30 June 2025 AUD AUD Raw materials - at cost 1,726,188 1,466,608 Less: provision for impairment (870) (1,428) 1,725,318 1,465,180 Work in progress - at cost 138,026 43,210 Less: provision for impairment (48) - 137,978 43,210 Finished goods - at cost 93,796 160,169 Less: provision for impairment (33,158) (22,725) 60,638 137,444 Stock in transit - at cost 44,222 4,915 Total 1,968,156 1,650,749 Note 10. Non-current assets - property, plant and equipment Consolidated 30 June 2026 30 June 2025 AUD AUD Leasehold improvements - at cost 487,826 483,911 Less: Accumulated depreciation (269,824) (222,366) Total leasehold improvements 218,002 261,545 Plant and equipment - at cost 7,209,646 7,170,700 Less: Accumulated depreciation (7,086,404) (6,540,270) Total plant and equipment 123,242 630,430 Total 341,244 891,975 Reconciliations Reconciliations of the written down values at the beginning and end of the current financial period are set out below: Leasehold improvements Plant and equipment Total Consolidated AUD AUD AUD Balance at 1 July 2025 261,545 630,430 891,975 Additions - 35,323 35,323 Depreciation expense (43,543) (542,511) (586,054) Balance at 30 June 2026 218,002 123,242 341,244
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 31 Note 11. Non-current assets - right-of-use assets Consolidated 30 June 2026 30 June 2025 AUD AUD Land and buildings - right-of-use 1,075,895 657,714 Less: Accumulated depreciation (716,447) (487,495) 359,448 170,219 Plant and equipment - right-of-use 13,884 13,884 Less: Accumulated depreciation (9,950) (7,173) 3,934 6,711 Total 363,382 176,930 The group leases land and buildings for its offices in Sydney Australia and warehouse in South Africa under agreements of between one (1) to three (3) years with, in some cases, options to extend, which have been taken up. The group also leases a single piece of office equipment under a five (5) year agreement. Additions in the year were $418,181 (30 June 2025: $160,034). Note 12. Non-current assets - intangible assets Consolidated 30 June 2026 30 June 2025 AUD AUD Development - at cost 3,651,200 3,465,755 Less: Accumulated amortisation (2,496,635) (2,049,496) Less: Impairment (798,990) (798,990) Total Development - at cost 355,575 617,269 Patents and trademarks - at cost 1,632,443 1,632,443 Less: Accumulated amortisation (957,817) (887,273) Total Patents and trademarks - at cost 674,626 745,170 Other intangible assets - at cost 550,514 550,502 Less: Accumulated amortisation (361,712) (268,395) Total Other intangible assets - at cost 188,802 282,107 Total 1,219,003 1,644,546 Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial period are set out below: Patents and trademarks Product development costs Other intangibles Total Consolidated AUD AUD AUD AUD Balance at 1 July 2024 817,543 878,963 375,414 2,071,920 Amortisation expense1 (72,373) (261,694) (93,307) (427,374) Balance at 30 June 2025 745,170 617,269 282,107 1,644,546 Additions - - - - Amortisation expense1 (70,544) (261,694) (93,305) (425,543) Balance at 30 June 2026 674,626 355,575 188,802 1,219,003 1 The amount is made up of the amortisation charge and release of the R&D capitalised rebate into Other income. Impairment of intangibles The group tests intangible assets for impairment for each reporting period or more frequently if events or changes in circumstances indicate it has suffered an impairment, in accounting policy stated in Note 1.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 12. Non-current assets - intangible assets (continued) 32 The recoverable amount of the group has been determined by a value-in-use calculation using a discounted cash flow model based a 3 year projection period approved by management and extrapolated for a further 2 years, together with a terminal value. The recoverable amount of a CGU is determined based on value-in-use (VIU) calculations whereby cash flows are projected and extrapolated over a five-year period with growth rates that do not exceed the long-term average growth rate for the market in which the group operates. The VIU model is discounted using the group’s weighted average costs of capital (WACC) of 12.5% (30 June 2025:11.97%) Atomo operates as a single operating segment and cash generating unit (CGU) being point of care diagnostics goods and services. Based the assessment performed, the recoverable amount of the CGU is determined to be higher than the carrying amount as at 30 June 2026. As a result, no further impairment against the intangible assets - product development costs was recognised. An impairment charge of $798,990 has previously been recognised in respect of historical product development costs. Note 13. Current liabilities - trade and other payables Consolidated 30 June 2026 30 June 2025 AUD AUD Trade payables 1,049,219 379,033 Accrued expenses 181,442 167,757 Other payables 62,039 64,258 Total 1,292,700 611,048 All amounts are short term and the carrying values are considered to be a reasonable approximation of fair value. Note 14. Current liabilities - lease liabilities Consolidated 30 June 2026 30 June 2025 AUD AUD Lease liability 255,815 155,424 Note 15. Current liabilities - provisions Consolidated 30 June 2026 30 June 2025 AUD AUD Annual leave 176,810 172,238 Long service leave 144,659 104,468 Total 321,469 276,706 The current provision for employee benefits includes all unconditional entitlements where employees have completed the required period of service and also those where employees are entitled to pro-rata payments in certain circumstances. The entire amount is presented as current, since the group does not have an unconditional right to defer settlement. Note 16. Current liabilities - deferred revenue Consolidated 30 June 2026 30 June 2025 AUD AUD Deferred revenue 220,820 54,777 Grants received in advance 840,354 1,068,061 1,061,174 1,122,838
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 16. Current liabilities - deferred revenue (continued) 33 Deferred revenue recognised relates to payments received in advance for POC Tests orders. Grants received in advance relates to CRC-P government funded grant for Active Syphilis test development, awarded to Atomo during the period. Note 17. Non-current liabilities - lease liabilities Consolidated 30 June 2026 30 June 2025 AUD AUD Lease liability 117,267 29,677 Note 18. Non-current liabilities - provisions Consolidated 30 June 2026 30 June 2025 AUD AUD Long service leave 20,168 55,817 Lease make good 50,000 50,000 Total 70,168 105,817 Note 19. Equity - issued capital Consolidated 30 June 2026 30 June 2025 30 June 2026 30 June 2025 Shares Shares AUD AUD Ordinary shares - fully paid 902,432,853 739,115,183 75,829,129 71,838,387 Movements in ordinary share capital Details Date Number of Shares AUD Opening balance 1 July 2025 1 July 2025 739,115,183 71,838,387 Issue of shares at $0.0185 per share at various dates 71,060,099 1,294,612 Issue of shares at $0.033 per share at various dates 92,257,571 3,044,500 Transaction costs - (348,370) Closing balance as at 30 June 2026 30 June 2026 902,432,853 75,829,129 Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the company does not have a limited amount of authorised capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. Capital risk management The group's objectives when managing capital is to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital. Capital is regarded as total equity, as recognised in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents. In order to maintain or adjust the capital structure, the group may take one of several actions which may include issue of new shares, the payment of dividends, a return of capital to shareholders or sell assets to reduce debt. The group would look to raise capital when an opportunity to invest in a business or company was seen as value adding relative to the current company's share price at the time of the investment. The group is not actively pursuing additional investments in the short term as it continues to integrate and grow its existing businesses in order to maximise synergies.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 19. Equity - issued capital (continued) 34 The group currently has no debt and is not subject to certain financing arrangements covenants. Note 20. Equity - reserves Consolidated 30 June 2026 30 June 2025 AUD AUD Foreign currency reserve 47,267 (42,856) Share-based payments reserve 298,299 134,611 345,566 91,755 Foreign currency reserve The reserve is used to recognise exchange differences arising from the translation of the financial statements of foreign operations to Australian dollars and the effect of permanent loans with foreign operations within the group. Share-based payments reserve The reserve is used to recognise the fair value of equity-settled share-based payments where they relate to yet-to-be exercised options. Movements in reserves Movements in each class of reserve during the current and previous financial period are set out below: Foreign currency Share based payment Total Consolidated AUD AUD AUD Balance at 1 July 2024 (118,322) 206,727 88,405 Foreign currency translation 75,466 - 75,466 Equity-settled share-based payments - 34,827 34,827 Lapsed and cancelled options reallocated to equity - (106,943) (106,943) Balance at 1 July 2025 (42,856) 134,611 91,755 Equity-settled share-based payments - 163,688 163,688 Exercise of options - - - Lapsed and cancelled options reallocated to equity - - - Foreign currency translation 90,123 - 90,123 Balance at 30 June 2026 47,267 298,299 345,566 Note 21. Financial instruments Financial risk management objectives The group's activities expose it to a variety of financial risks: market risk (including foreign currency risk, price risk and interest rate risk), credit risk and liquidity risk. The group's overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the group. The group uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity analysis in the case of interest rate, foreign exchange and other price risks, ageing analysis for credit risk and beta analysis in respect of investment portfolios to determine market risk. Risk management is carried out by senior finance executives ('finance') under policies approved by the Board of Directors ('the Board'). These policies include identification and analysis of the risk exposure of the group and appropriate procedures, controls and risk limits. Finance identifies, evaluates and hedges financial risks within the group's operating units. Finance reports to the Board on a monthly basis. Market risk Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices, such as foreign exchange rates and interest rates. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return. Foreign currency risk The group undertakes certain transactions denominated in foreign currency and is exposed to foreign currency risk through foreign exchange rate fluctuations.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 21. Financial instruments (continued) 35 Foreign exchange risk arises from future commercial transactions and recognised financial assets and financial liabilities denominated in a currency that is not the entity's functional currency. The risk is measured using sensitivity analysis and cash flow forecasting. The carrying amount of the group's foreign currency denominated financial assets and financial liabilities at the reporting date were as follows: Assets Liabilities 30 June 2026 30 June 2025 30 June 2026 30 June 2025 Consolidated AUD AUD AUD AUD US dollars 877,589 480,293 635,157 15,998 Pound Sterling 264,033 205,153 - 6,846 South African Rand 843,999 249,134 86,003 38,798 Euro 7,533 8,213 7,453 4,856 New Zealand dollars 29,186 9,872 3,710 4,385 2,022,340 952,665 732,323 70,883 Reasonably possible movements in the Australian dollar against all other currencies as at 30 June 2026 would have affected the measurement of financial instruments denominated in a foreign currency and affected profit or loss and equity by the amounts shown below. This analysis assumes that all other variables remain constant and ignores any impact of forecast sales and purchases: AUD strengthened AUD weakened Consolidated - 30 June 2026 % change Effect on profit before tax Effect on equity % change Effect on profit before tax Effect on equity AUD Strengthening 10% (117,274) (117,274) 10% 143,335 143,335 Price risk The group is not exposed to any significant price risk. Interest rate risk As at 30 June 2026, the group was not exposed to any significant interest rate risk. There is minimal exposure to the impact of adverse changes in benchmark interest rates. The group was exposed to variable interest rate risks on cash and short-term deposits. A reasonably possible change of 100 basis points in interest rates during the year would have increased or decreased profit before tax by $27,246 (2025: $17,185). This analysis assumes that all other variables remain constant. Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the group. The group has a strict code of credit, including obtaining agency credit information, confirming references and setting appropriate credit limits. The group obtains guarantees where appropriate to mitigate credit risk. The maximum exposure to credit risk at the reporting date to recognised financial assets is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the statement of financial position and notes to the financial statements. Generally, trade receivables are written off when there is no reasonable expectation of recovery. Indicators of this include the failure of a debtor to engage in a repayment plan, no active enforcement activity and a failure to make contractual payments for a period greater than 1 year. Liquidity risk Liquidity risk is the risk that the group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The group manages liquidity risk by maintaining adequate cash reserves and available borrowing facilities by continuously monitoring actual and forecast cash flows and matching the maturity profiles of financial assets and liabilities.
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 21. Financial instruments (continued) 36 Financing arrangements The group has no used or unused financing facilities in place as at 30 June 2026 (2025: nil). Remaining contractual maturities The following tables detail the group's remaining contractual maturity for its financial instrument liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the financial liabilities are required to be paid. The tables include both interest and principal cash flows disclosed as remaining contractual maturities and therefore these totals may differ from their carrying amount in the statement of financial position. Weighted average interest rate 1 year or less Between 1 and 2 years Between 2 and 5 years Over 5 years Total contractual maturities Consolidated - 30 June 2026 % AUD AUD AUD AUD AUD Non-derivatives Non-interest bearing Trade payables - 1,049,219 - - - 1,049,219 Other payables - 243,481 - - - 243,481 Interest-bearing - variable Lease liability 5.00% 267,738 120,618 - - 388,356 Total non-derivatives 1,560,438 120,618 - - 1,681,056 Weighted average interest rate 1 year or less Between 1 and 2 years Between 2 and 5 years Over 5 years Total contractual maturities Consolidated - 30 June 2025 % AUD AUD AUD AUD AUD Non-derivatives Non-interest bearing Trade payables - 379,033 - - - 379,033 Other payables - 232,015 - - - 232,015 Interest-bearing - variable Lease liability 5.46% 155,424 29,677 - - 185,101 Total non-derivatives 766,472 29,677 - - 796,149 The cash flows in the maturity analysis above are not expected to occur significantly earlier than contractually disclosed above. Fair value of financial instruments Unless otherwise stated, the carrying amounts of financial instruments reflect their fair value. Note 22. Remuneration of auditors During the financial period the following fees were paid or payable for services provided by BDO Audit Pty Ltd, the auditor of the company: Consolidated 30 June 2026 30 June 2025 AUD AUD Audit services - BDO Australia Audit or review of the financial statements 132,500 130,000 Other services - BDO Australia & US Tax advisory services 38,716 21,865 Total 171,216 151,865
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 37 Note 23. Related party transactions Parent entity Atomo Diagnostics Limited is the parent entity. Subsidiaries Interests in subsidiaries are set out in note 25. Key management personnel compensation The aggregate compensation made to directors and other members of key management personnel of the group is set out below: Consolidated 30 June 2026 30 June 2025 Short-term employee benefits 892,132 974,501 Post-employment benefits 64,688 66,310 Long-term benefits 30,416 1,837 Share-based payments 89,971 - Total key management personnel compensation 1,077,207 1,042,648 Further details relating to key management personnel compensation are set out in the remuneration report included in the directors' report. Key management personnel transactions Directors and other key management personnel hold 8.4% of the issued capital of the company as at 30 June 2026 (30 June 2025: 9.8%). Transactions with other related parties There were no transactions with other related parties during the year (30 June 2025: nil). Note 24. Parent entity information Statement of Profit or Loss and Other Comprehensive Income Parent 30 June 2026 30 June 2025 AUD AUD Statement of profit and loss and other comprehensive income Loss for the year (3,628,580) (4,469,736) Other comprehensive income - - Total comprehensive income (3,628,580) (4,469,736)
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 Note 24. Parent entity information (continued) 38 Statement of Financial Position Parent 30 June 2026 30 June 2025 AUD AUD Statement of financial position Assets Total current assets 8,800,838 6,665,329 Total non-current assets 1,827,444 2,556,282 Total assets 10,628,282 9,221,611 Liabilities Total current liabilities 3,428,651 2,458,584 Total non-current liabilities 70,168 105,817 Total liabilities 3,498,819 2,564,401 Equity Share capital 75,829,129 71,838,387 Share based payment reserve 298,299 134,611 Accumulated loss (68,997,964) (65,315,787) Total Equity 7,129,464 6,657,211 Guarantees entered into by the parent entity in relation to the debts of its subsidiaries None. Contingent liabilities There were no contingent liabilities attributed to the parent entity as at 30 June 2026 (30 June 2025: nil). Capital commitments - Property, plant and equipment The parent entity had no capital commitments for property, plant and equipment as at 30 June 2026 (30 June 2025: nil). Material accounting policy information The accounting policies of the parent entity are consistent with those of the group, as disclosed in note 1. ● Investments in subsidiaries are accounted for at cost, less any impairment, in the Parent Entity. ● Dividends received from subsidiaries are recognised as other income by the Parent Entity and its receipt may be an indicator of an impairment of the investment. Note 25. Interests in subsidiaries The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 1: Ownership interest Principal place of business / 30 June 2026 30 June 2025 Name Country of incorporation % % Parent entity: Atomo Diagnostics Limited Australia - - Subsidiaries: Atomo Australia Pty Limited Australia 100% 100% Atomo Limited United Kingdom 100% 100% Atomo US Inc. United States 100% 100% Atomo Operations US LLC United States 100% 100% Branch operations: Atomo South Africa (operating branch of Atomo Australia Pty Limited) South Africa 100% 100%
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 39 Note 26. Events after the reporting period On 19 August 2026, Atomo announced John Kelly stepping down from his role as Managing Director, effective 19 August 2026, following a Board decision to reposition the Company's executive leadership to reflect its evolving international commercial footprint. As part of the leadership transition, the Board appointed US-based Cheri Walker, a current Director of the Company, as Interim Chief Executive Officer, effective 19 August 2026. No other matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the group's operations, the results of those operations, or the group's state of affairs in future financial years. Note 27. Reconciliation of loss after income tax to net cash used in operating activities Consolidated 30 June 2026 30 June 2025 AUD AUD Loss after income tax expense for the period (3,513,587) (4,970,934) Adjustments for: Depreciation and amortisation 1,428,772 1,582,562 Issue of shares for services - 30,000 Share-based payments 163,688 34,837 Foreign exchange differences 12,491 13,505 Finance costs 14,740 10,268 Provision for expected credit loss 36 (10,818) Change in operating assets and liabilities: (Increase)/decrease in trade and other receivables (1,619,757) 264,152 (Increase)/decrease in inventories (317,407) 188,008 Increase/(decrease) in trade and other payables 681,652 (170,211) Increase/(decrease) in employee benefits 9,114 (3,183) (Decrease)/increase in deferred revenue (227,707) 1,072,997 Net cash used in operating activities (3,367,965) (1,958,817) Note 28. Earnings per share Consolidated 30 June 2026 30 June 2025 AUD AUD Loss after income tax attributable to the owners of Atomo Diagnostics Limited (3,513,587) (4,970,934) Loss after income tax attributable to the owners of Atomo Diagnostics Limited used in calculating diluted earnings per share (3,513,587) (4,970,934) Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 827,322,607 647,095,261 Adjustments for calculation of diluted earnings per share: No adjustments given that in a loss situation , this would be anti-dilutive - - Weighted average number of ordinary shares used in calculating diluted earnings per share 827,322,607 647,095,261 AUD Cents AUD Cents Basic Loss per share (0.425) (0.768) Diluted Loss per share (0.425) (0.768)
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Atomo Diagnostics Limited Notes to the Financial Statements For the period ended 30 June 2026 40 Note 29. Share-based payments Set out below are summaries of options granted under the plan: 30 June 2026 Balance at Expired/ Balance at Exercise the start of forfeited/ the end of Grant date Expiry date price the period Granted Exercised other the period 14/04/2020 14/04/2026 AUD0.250 533,334 - - (533,334) - 01/07/2023 01/07/2026 AUD0.035 2,120,000 - - - 2,120,000 22/08/2023 22/08/2026 AUD0.047 275,000 - - - 275,000 01/07/2023 01/07/2027 AUD0.035 3,180,000 - - - 3,180,000 25/09/2025 30/06/2028 AUD0.012 - 5,000,000 - (1,200,000) 3,800,000 12/12/2025 30/06/2028 AUD0.012 - 3,100,000 - - 3,100,000 6,108,334 8,100,000 - (1,733,334) 12,475,000 30 June 2025 Balance at Expired/ Balance at Exercise the start of forfeited/ the end of Grant date Expiry date price the period Granted Exercised other the period 14/04/2020 14/04/2026 AUD0.250 533,334 - - - 533,334 01/07/2023 01/07/2026 AUD0.035 2,120,000 - - - 2,120,000 22/08/2022 22/08/2026 AUD0.047 275,000 - - - 275,000 01/07/2023 01/07/2027 AUD0.035 3,180,000 - - - 3,180,000 6,108,334 - - - 6,108,334 The weighted average share price during the financial period was AUD0.02 (30 June 2025: AUD0.05). The weighted average remaining contractual life of options outstanding at the end of the financial period was 1.0 years (2025: 0.8 years). In current and prior financial years, the Company issued options to employees, directors and key stakeholders to align the interests of those parties through the sharing of a personal interest in the future growth and development of the Company and to provide a means of attracting and retaining skilled and experienced eligible persons. The Company has adopted the 'Black-Scholes' option model to determine the fair value of these options.
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Atomo Diagnostics Limited Consolidated entity disclosure statement As at 30 June 2026 41 As required by the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024, the following provides information about the subsidiaries included in the consolidated financial statements of the group as at 30 June 2026. Place formed / Entity name Entity type Country of incorporation Ownership interest % Tax residency Atomo Diagnostics Limited Body Corporate Australia 100.00% Australia Atomo Australia Pty Limited Body Corporate Australia 100.00% Australia Atomo Limited Body Corporate United Kingdom 100.00% United Kingdom Atomo US Inc. Body Corporate United States of America 100.00% United States of America Atomo Operations US LLC Body Corporate United States of America 100.00% United States of America Atomo South Africa (operating branch of Atomo Australia Pty Limited) Body Corporate South Africa 100.00% South Africa As at 30 June 2026 no entities included were a trustee of a trust within the consolidated entity, a partner in a partnership within the consolidated entity or a participant in a joint venture within the consolidated entity. In determining the tax residency, the group has applied the following interpretations: Australian tax residency The consolidated entity has applied current legislation and judicial precedent, including having regard to the Tax Commissioner's public guidance in Tax Ruling RD 2018/5. Foreign tax residency Where necessary, the consolidated entity has used independent tax advisors in foreign jurisdictions to assist in determining tax residency and ensure compliance with applicable foreign tax legislation.
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Atomo Diagnostics Limited Directors' declaration For the period ended 30 June 2026 42 In the directors' opinion: ● the attached financial statements and notes comply with the Corporations Act 2001, the Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements; ● the attached financial statements and notes comply with IFRS Accounting Standards as issued by the International Accounting Standards Board as described in note 1 to the financial statements; ● the attached financial statements and notes give a true and fair view of the group's financial position as at 30 June 2026 and of its performance for the financial period ended on that date; ● there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable; and ● the consolidated entity disclosure statement required by subsection 295(3A) of the Corporations Act 2001 is true and correct. The directors have been given the declarations required by section 295A of the Corporations Act 2001. Signed in accordance with a resolution of directors made pursuant to section 295(5)(a) of the Corporations Act 2001. On behalf of the directors ___________________________ Patrick Cook Chair 31 August 2026 Sydney
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Parkline Place Level 25, 252 Pitt Street Sydney NSW 2000 Australia Tel: +61 2 9251 4100 Fax: +61 2 9240 9821 www.bdo.com.au BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation. INDEPENDENT AUDITOR'S REPORT To the members of Atomo Diagnostics Limited Report on the Audit of the Financial Report Opinion We have audited the financial report of Atomo Diagnostics Limited (the Company) and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 30 June 2026, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and notes to the financial report, including material accounting policy information, the consolidated entity disclosure statement and the directors’ declaration. In our opinion the accompanying financial report of the Group, is in accordance with the Corporations Act 2001, including: (i) Giving a true and fair view of the Group’s financial position as at 30 June 2026 and of its financial performance for the year ended on that date; and (ii) Complying with Australian Accounting Standards and the Corporations Regulations 2001. Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the Financial Report section of our report. We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to audits of the financial report of public interest entities in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor’s report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 43
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Key audit matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial report of the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. Revenue Recognition Key audit matter How the matter was addressed in our audit As disclosed in Note 3, the Group recognised revenue of $5,333,849 for the year ended 30 June 2026. Revenue was identified as a key audit matter as it is a key performance indicator to the users of the financial report. Our procedures, amongst others, included: Reviewed whether the revenue recognition policies are in accordance with Australian Accounting Standards and the Group’s accounting policies as described in Note 1; Substantive testing around year end to ensure revenue is correctly recorded in the period to which it relates; and Selected a sample of customers and revenue transactions during the year and substantively tested to ensure revenue has been appropriately reflected in the financial statements for the year ended 30 June 2026. Carrying value of intangibles Key audit matter How the matter was addressed in our audit As at 30 June 2026, the Group recognised intangible assets with a carrying value of $1,219,003 as disclosed in Note 12. The valuation of intangible assets is significant to our audit because of the carrying value in the Statement of Financial Position and the judgements and estimation required by management in assessing recoverability. The Group has determined the recoverable amount through a value-in-use calculation for the cash generating unit. This process is judgmental and based Our procedures, amongst others, included: Obtained management’s value-in-use model and assessment of impairment; Critically assessed the valuation and impairment analysis completed by management, including the mathematical accuracy, reasonableness of the assumptions and estimates used to determine the recoverable amount of its intangible assets; Together with BDO Valuation specialists, assessed the reasonableness of the discount rates applied by management; 44
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on management’s assumptions, specifically those in relation to revenue growth rates, estimated expenditure and discount rates. Where appropriate, considered the historical actual results to those budgeted, to assess the quality of management’s forecasts; and Evaluated the sensitivity analysis applied to the discounted cash flow model to assess the disclosure in the financial statements. Other information The directors are responsible for the other information. The other information comprises the information in the Group’s annual report for the year ended 30 June 2026, but does not include the financial report and the auditor’s report thereon. Our opinion on the financial report does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the directors for the Financial Report The directors of the Company are responsible for the preparation of: a) the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001; and b) the consolidated entity disclosure statement that is true and correct in accordance with the Corporations Act 2001, and for such internal control as the directors determine is necessary to enable the preparation of: i) the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error; and ii) the consolidated entity disclosure statement that is true and correct and is free of misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the ability of the group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or has no realistic alternative but to do so. 45
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Auditor’s responsibilities for the audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website (http://www.auasb.gov.au/Home.aspx) at: https://www.auasb.gov.au/media/bwvjcgre/ar1_2024.pdf This description forms part of our auditor’s report. Report on the Remuneration Report Opinion on the Remuneration Report We have audited the Remuneration Report included in directors’ report for the year ended 30 June 2026. In our opinion, the Remuneration Report of Atomo Diagnostics Limited, for the year ended 30 June 2026, complies with section 300A of the Corporations Act 2001. Responsibilities The directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards. BDO Audit Pty Ltd Rajnil Kumar Director Sydney, 31 August 2026 46
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Atomo Diagnostics Limited Shareholder information For the period ended 30 June 2026 47 The shareholder information set out below was applicable as at 11 August 2026. Number of security holders At the specified date, there were 5,842 holders of ordinary shares (quoted and unquoted) and 187 holders of options (unquoted) over ordinary shares. These were the only classes of equity securities on issue. Distribution of equitable securities Analysis of number of equitable security holders by size of holding: Ordinary shares Number Number of holders of shares 1 to 1,000 265 153,208 1,001 to 5,000 2,353 6,189,333 5,001 to 10,000 888 7,147,541 10,001 to 100,000 1,675 59,214,424 100,001 and over 661 829,728,347 Total 5,842 902,432,853 Equity security holders Twenty largest quoted equity security holders The names of the twenty largest security holders of quoted equity securities are listed below: Ordinary shares % of total shares Number held issued GZ Family Holdings Pty Ltd 89,895,644 9.96 Dalraida Holdings Pty Limited 65,120,000 7.22 Global Health Investment Fund 48,230,000 5.34 Wellgrow Investments Pty Ltd 28,648,649 3.17 GZ Super Investments Pty Ltd 27,027,027 2.99 Australia West Holdings Pty 21,050,000 2.33 Mr Xiaoyi Lin 20,000,000 2.22 BNP Paribas Nominees Pty Ltd 19,455,118 2.16 Australia North Holdings Pty 16,000,000 1.77 Citicorp Nominees Pty Limited 15,985,025 1.77 Grand Challenges Canada 11,390,824 1.26 Liverbird Pty Ltd 10,931,653 1.21 I D E Pty Ltd 9,032,248 1.00 John Michael Kelly 8,991,870 1.00 Rue Des Rocs Pty Ltd 8,000,000 0.89 Mark Andrew Smith 7,790,224 0.86 Mr Ian Fredrick Johnson 7,506,080 0.83 Mr Leo James Lynch and Ms Judith Anne Beswick 7,321,121 0.81 Ms Zeyu Shi 6,934,108 0.77 Mr Yichao Yu 6,558,559 0.73 Total top 20 shareholders 435,868,150 48.29
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Atomo Diagnostics Limited Shareholder information For the period ended 30 June 2026 48 Substantial holders Substantial holders in the company are set out below: Ordinary shares % of total shares Number held issued GZ Family Holdings Pty Ltd & Gz Super Investments Pty Ltd 116,922,671 12.96 John Kelly 74,111,870 8.21 Mr Xiaoyi Lin & Australia West Holdings Pty & Australia North Holdings Pty 57,050,000 6.32 Global Health Investment Fund LLC 48,230,000 5.34 Restricted securities There are no unquoted restricted ordinary shares securities and unquoted options over ordinary shares as at 11 August 2026. Option Holding Distribution Size of option holding Number of holders Number of options % of Issued Options 1 to 1,000 - - - 1,001 to 5,000 - - - 5,001 to 10,000 - - - 10,001 to 100,000 50 2,264,590 1% 100,001 and over 137 228,192,147 99% Total 187 230,456,737 Unquoted Options Over Ordinary Shares There were 230,456,737 unquoted options over ordinary shares on issue as follows: Unquoted options - description Number of options Number of holders Options exercisable at 0.047 expiring at 22 August 2026 275,000 1 Options exercisable at 0.0115 expiring at 30 June 2028 6,900,000 9 Options exercisable at 0.035 expiring at various dates 5,300,000 13 Options exercisable at 0.04 expiring at various dates 168,972,972 78 Options exercisable at 0.045 expiring at various dates 51,128,765 84 No option holder holds more than 20% of the unquoted options on issue. Voting rights The voting rights attached to ordinary shares are set out below: Ordinary shares On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. There are no other classes of equity securities that carry voting rights. Unmarketable Parcels There are 4,413 holders of an unmarketable parcel of shares based on the closing market price of $0.017 at the specified date. Other ASX Required Information During the period between admission to the Official List of ASX and the end of the reporting period, the company used the cash and assets in a form readily convertible to cash that it had at the time of admission to the ASX, in a way consistent with its business objectives. This statement is made pursuant to ASX Listing Rule 4.10.19.