Earnings release
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M edia Release 27 July 2026 Syntara Limited (ASX: SNT), a clinical-stage drug development company, is pleased to provide a summary of its activities for the quarter ended 30 June 2026: • Positive US FDA feedback supports the proposed ~100-patient Phase 2b trial of amsulostat in myelofibrosis • $8.0 million institutional placement strengthens balance sheet and extends expected cash runway into Q3 2027 • Subsequent to the end of the quarter: − Preliminary Phase 2 SNT-4728 results show a statistically significant reduction in inflammation within a key Parkinson’s disease-related brain region − SNT-9465 Phase 1b hypertrophic scar trial reaches 60% treatment commencement, with recruitment completion targeted for Q3 2026 − AZALOX MDS study advances to final Phase 1b dose cohort • Multiple clinical catalysts expected in H2 2026, including complete SNT- 4728 data, amsulostat MDS interim results and SNT-9465 top-line results Syntara CEO Gary Phillips said: “The June quarter was an important period for Syntara, highlighted by the positive outcome of our Type C meeting with the US FDA, which supported the proposed Phase 2b trial design for amsulostat in myelofibrosis and provided a clear pathway towards late-stage clinical development. We also strengthened the Company’s financial position through the successful capital raising, providing the resources to advance our key programs, deliver multiple clinical readouts and progress ongoing commercial and licensing discussions. Since the end of the quarter, we have reported encouraging preliminary results from the Phase 2 trial of SNT-4728 in iRBD, including a statistically significant reduction in inflammation within the putamen, a key region of the brain implicated in the development of motor symptoms. Recruitment in the Phase 1b trial of SNT-9465 in hypertrophic scars has also advanced beyond the halfway point, and we recently announced the AZALOX myelodysplastic syndrome study has advanced to the final Phase 1b dose cohort. Quarterly Shareholder Report | June 2026
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The months ahead are expected to be highly active, with the full clinical, imaging, digital and biological marker dataset from the SNT-4728 study anticipated during the third quarter, recruitment in the SNT-9465 trial targeted for completion in the same period and top-line results expected later in 2026. We also expect data from the AZALOX study, observing the impact of amsulostat in myelodysplastic syndrome, while progressing preparations for the planned Phase 2b myelofibrosis study and continuing engagement with potential commercial partners across the pipeline.” CLINICAL PIPELINE UPDATES Amsulostat Positive FDA Feedback Supports Amsulostat’s Advancement into Late-Stage Development In April, Syntara received positive feedback from the US Food and Drug Administration following an in-person Type C meeting regarding the proposed Phase 2b clinical trial of its lead drug candidate, amsulostat, in patients with myelofibrosis who have had an inadequate response to standard-of-care treatment. The FDA reviewed the clinical development work completed to date, supported the proposed study design and provided guidance on the detailed protocol and broader development pathway for amsulostat. The proposed Phase 2b trial will be a double-blind, placebo-controlled study evaluating amsulostat when added to standard-of-care JAK inhibitor therapy. The study is expected to enrol approximately 100 patients whose disease has not been adequately controlled by JAK inhibition alone. The primary endpoint will be the proportion of patients achieving at least a 50% reduction in total symptom score after nine months of treatment, providing a clinically meaningful measure of improvement in the disease burden experienced by patients. The positive regulatory outcome represents an important milestone for the amsulostat program and provides Syntara with a clearly defined pathway to advance the asset into late-stage clinical development. It also builds on the safety and efficacy profile established through the completed Phase 2a study, in which amsulostat was evaluated both as a monotherapy and in combination with a JAK inhibitor. Amsulostat has previously received FDA Fast Track and Orphan Drug designations and is being developed as a potential treatment for patients who continue to experience significant symptoms despite receiving current standard- of-care therapy. Agreement on the Phase 2b development pathway also enhances amsulostat’s commercial profile and provides a stronger foundation for discussions with prospective development and commercial partners. AZALOX MDS study advances to final Phase 1b dose cohort Subsequent to the end of the quarter, the Company announced completion of the first dose-escalation cohort in the Phase 1b component of the AZALOX clinical trial evaluating amsulostat, in combination with the hypomethylating agent 5- Azacitidine (5-AZA) in patients with high-risk Myelodysplastic Syndrome (MDS) and Chronic Myelomonocytic Leukaemia (CMML).
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3 Following review of the safety data from the first cohort, the independent Drug Safety Monitoring Board (DSMB) approved escalation to the final Phase 1b dose cohort, in which patients will receive amsulostat at 200 mg twice daily in combination with 5-AZA. The initial cohort evaluated amsulostat at 150 mg twice daily in combination with 5-AZA. No dose-limiting toxicities were observed and no new adverse events attributable to amsulostat were reported. The Phase 1b component of AZALOX is intended to establish the safety profile and recommended Phase 2 dose of amsulostat in combination with 5-AZA. Subject to completion of the 200 mg cohort and review of the associated safety data, the study is expected to progress to a Phase 2 component designed to evaluate the safety and efficacy of the selected dose in approximately 30 patients. Preliminary results from the completed Phase 1b dose-escalation component are expected during Q4 CY26. All 10 participating clinical sites in Germany have now been initiated and are open for recruitment. In parallel with AZALOX, the Australasian Leukaemia & Lymphoma Group (ALLG) is leading the Australian MDS05/D3 MESSAGE study evaluating amsulostat in combination with the oral hypomethylating agent ASTX727 in patients with transfusion-dependent low and intermediate-risk MDS. The MESSAGE study remains in recruitment for its initial dose-escalation cohort, with Syntara anticipating preliminary results during the first half of calendar 2027. Preliminary SNT-4728 Data Show Reduction in Brain Inflammation Subsequent to the end of the quarter, Syntara reported preliminary results from its randomised, double-blind, placebo-controlled Phase 2 trial of SNT-4728 in patients with isolated REM Sleep Behaviour Disorder (iRBD), a condition associated with a high risk of progressing to Parkinson’s disease and related neurodegenerative disorders. The study was worldwide the first interventional trial designed to directly target neuroinflammation in an iRBD population and examine the disease biology underlying progression towards symptomatic Parkinson’s disease. The multi-centre study enrolled 41 patients, randomised 3:1 to receive either SNT- 4728 or placebo for 12 weeks. In addition to assessing safety and clinical symptoms, the trial used positron emission tomography imaging to measure activation of microglia and associated neuroinflammation across predefined regions of the brain. The study population was enriched for patients considered at elevated risk of progressing to Parkinson’s disease and related disorders. Of the 41 participants, 90% had a reduced or absent sense of smell, 46% had low colour discrimination and 95% had misfolded alpha-synuclein detected in their cerebrospinal fluid. These characteristics support the relevance of the enrolled population for evaluating potential disease-modifying treatments during the prodromal stage of Parkinson’s disease. SNT-4728 was safe and well tolerated, with no treatment-related serious adverse events and only mild to moderate adverse events reported. The once-daily 15 mg dose was selected based on earlier clinical studies demonstrating that the compound crosses the blood-brain barrier and was expected to provide strong engagement of both SSAO and MAO-B, the two enzyme targets inhibited by SNT- 4728.
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Preliminary analysis showed a statistically significant unilateral reduction in inflammation within the putamen, with a p-value of 0.0145. Twenty of the 30 patients treated with SNT-4728 recorded a reduction from baseline in this region. The putamen plays an important role in the motor symptoms associated with Parkinson’s disease, including bradykinesia, rigidity and tremor, and is also linked to non-motor features such as impaired motivation. No statistically significant changes were detected in the other predefined regions of interest (substantia nigra, caudate and occipital cortex). However, broader imaging analyses identified additional areas of significantly reduced TSPO signal, including parts of the temporal lobe, a region linked to cognition and whose impairment is associated with dementia. These data provide further evidence of an anti-inflammatory effect following treatment with SNT-4728 which can already be achieved within three months of treatment. Further analysis of the complete clinical, imaging, digital and biological marker datasets is expected towards the end of the third quarter of 2026. These results will assist Syntara and its collaborators in assessing the durability and clinical significance of the observed anti-inflammatory effect and determining the future development pathway for SNT-4728 in neuroinflammation and iRBD and the potential slowing of progression to Parkinson’s disease. Based on the emerging evidence of activity, Syntara also filed a new provisional patent application covering SNT-4728 as a first-in-class neuro-targeted anti-inflammatory therapy in iRBD. Following the announcement, Syntara hosted an investor webinar featuring Chief Executive Officer Gary Phillips, Chief Medical Officer Jana Baskar and Principal Investigator Professor Simon Lewis, who discussed the preliminary findings and their implications for the program. A replay of the webinar is available here: https://youtu.be/lsofh4kF99c?si=FO7_HSMBLDkt8OyW SNT-9465 Hypertrophic Scar Trial Advances Beyond 50% Recruitment The Company also reported strong recruitment progress in the Phase 1b clinical trial of its next-generation topical pan-lysyl oxidase inhibitor, SNT-9465, in hypertrophic scars, with 60% of participants having commenced treatment. Additional prospective participants were identified through a targeted social media campaign, supporting the Company’s expectation that recruitment will be completed during Q3 2026. The randomised, double-blind, placebo-controlled study is enrolling 20 adults with hypertrophic sternotomy scars aged between six and 24 months. Each participant receives SNT-9465 and placebo on separate regions of the same scar, divided by a buffer area, over a three-month treatment period. This within-patient design allows the treated and placebo regions to be directly compared while reducing the impact of differences between individual participants. Following treatment, the scar regions will be assessed using a range of advanced imaging and clinical evaluation methods to determine the effect of SNT-9465 on scar structure and appearance. Baseline biopsies from the first four participants showed markedly higher lysyl oxidase activity than was observed in the earlier SOLARIA2 study, which primarily involved much older scars with an average age of 13 years. While the studies involved different scar types and locations, the higher enzyme activity observed in the newer surgical scars supports Syntara’s selection of hypertrophic scars for the
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5 current trial. Higher lysyl oxidase activity may be associated with greater tissue turnover and provide an improved opportunity for SNT-9465 to remodel the scar architecture and produce a clinically meaningful treatment effect. Top-line results remain targeted for 2026 and are intended to support a US FDA Investigational New Drug application and the potential establishment of a broader global development program. Syntara is seeking to develop what could become the first approved pharmacological treatment specifically targeting skin scarring. In parallel, the Fiona Wood Foundation and University of Western Australia’s SATELLITE investigator-initiated study is evaluating Syntara’s first-generation topical pan-LOX inhibitor, SNT-6302, in patients with keloid scars. The study reached an interim stage, with a significant number of participants completing three months of treatment and entering an extended follow-up period. The follow-up will assess how lysyl oxidase inhibition affects keloid scar biology after treatment has ceased and may help identify particular keloid scar subtypes that are more responsive to pan-LOX inhibition for potential future clinical development. FUNDRAISING ACTIVITIES $8 Million Placement and Share Purchase Plan During the quarter, Syntara received firm commitments from existing and new institutional and sophisticated investors for an $8.0 million two-tranche placement. The Company also announced a non-underwritten share purchase plan targeting approximately $2.0 million from eligible shareholders in Australia and New Zealand, of which approximately $840,000 was subscribed for. This saw a total capital raising of approximately $8.84 million before costs. The raising followed the positive outcome of Syntara’s Type C meeting with the US FDA regarding the planned Phase 2b development of amsulostat in myelofibrosis. The placement and share purchase plan were priced at $0.027 per new share, representing a 15.6% discount to Syntara’s closing share price on 24 April 2026 and a 17.6% discount to the five-day volume-weighted average price. The placement comprised approximately 296.3 million new shares, including a first tranche raising approximately $6.6 million under the Company’s existing placement capacity and a second tranche raising approximately $1.4 million, subject to shareholder approval. Proceeds from the raising are expected to extend Syntara’s cash runway into the third quarter of 2027 and support the delivery of five key clinical trial readouts across the Company’s three principal development programs during 2026. Funding was also allocated to progressing licensing discussions across the pipeline and undertaking preparatory work for the proposed Phase 2b trial of amsulostat in myelofibrosis, including finalising the clinical protocol, selecting a contract research organisation, negotiating with trial sites, advancing formulation development and securing clinical trial supplies. The capital is also intended to support the continued strengthening of Syntara’s global pan-LOX patent portfolio, providing additional opportunities to pursue multiple potential indications.
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Syntara CEO Gary Phillips hosted an investor webinar to discuss the capital raising, a replay is available at: https://youtu.be/_FYXK0FIgzY?si=ejKl19iJwOzj2VPS F INANCIAL F inancial performance A t the end of the June 2026 quarter Syntara had a closing cash balance of $13.5 million, compared to $8.9 million at 31 March 2026. The net cash inflow of $4.7 million largely driven by the capital raise of $8.8 million in the quarter via a Placement and Share Purchase Plan (SPP). T he net cash outflows in operating activities during the quarter was $1.6 million (included the receipt of $1.8 million of proceeds from Parkison’s UK grant for the iRBD trial), compared with $1.6 million for the previous quarter to 31 December 2025. R &D ($2.1 million) and staff costs ($1.2 million) totalling $3.3 million represented 93% of the Company’s total net operating cash outflows. Of the $2.1 million direct R&D expenditure the majority was represented by expenditure on the Company’s ongoing major clinical programs: • the Phase 2a trial in MF; • the Phase 1a/b trial for hypertrophic scars; • the SATELLITE Phase 1c trial for keloid scars; and • the iRBD trial, where the majority of the costs of this trial are funded by a grant from Parkinson’s UK. Amounts owed from the sale of the mannitol respiratory business S yntara sold its mannitol respiratory business unit (MBU) in the fourth quarter of 2023 to Arna Pharma Pty Ltd (Arna Pharma). A post completion transition period has now ended and the MBU and Frenchs Forest facility are now fully separated from Syntara. Syntara’s research laboratories and corporate offices are now subleased at Frenchs Forest from Arna Pharma. A s previously advised, Arna Pharma challenged the contractual payment obligations claimed by Syntara from the sale. Since that time the parties have made further progress in reconciling the amounts owing and some payments have been made. The Company continues to pursue amounts owing by the acquiror and expects to receive further payments over the course of the financial year. There remains significant uncertainty in relation to the quantum and timing of amounts that will be received. A fter amounts already paid by Arna Pharma (~$6.1 million) and various offsets to expenses incurred by Syntara to Arna, the amounts currently claimed by Syntara at 30 June 2026 have been substantially reduced and now total ~$0.6 million. P ayments to Related Entities I n accordance with Listing Rule 4.7C, payments made to related parties and their associates included in item 6.1 of Appendix 4C incorporates directors’ fees, salaries and superannuation. Payments made for the quarter total $191,000 and relate to
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7 payments to the CEO/Managing Director in accordance with employment contracts, as well as payments to the Non-Executive Directors. #ENDS# About Syntara Syntara Limited (ABN: 75 082 811 630) is a clinical stage drug development company targeting extracellular matrix dysfunction with its world-leading expertise in amine oxidase chemistry and other technologies to develop novel medicines for blood cancers and conditions linked to inflammation and fibrosis. Lead candidate amsulostat (also known as SNT-5505 and previously as PXS-5505) is for the bone marrow cancer myelofibrosis which causes a build-up of scar tissue that leads to loss of red and white blood cells and platelets. Amsulostat has been granted Fast Track Designation, having already achieved FDA Orphan Drug Designation and clearance under an Investigational New Drug Application for development in myelofibrosis. Amsulostat has now completed a Phase 2a trial in myelofibrosis in which it was dosed as monotherapy and in combination with a JAK inhibitor. Two Phase 1c/2 studies with amsulostat in patients with a blood cancer called myelodysplastic syndrome has been initiated. Syntara is also advancing topical pan-LOX inhibitors with SNT-9465 in a Phase 1a/b study of hypertrophic scars and continuing the ongoing collaboration with Professor Fiona Wood and the University of Western Australia studying SNT-6302 in keloid scars. SNT‐4728 is being studied in collaboration with Parkinson’s UK as a best-in-class SSAO/MAO-B inhibitor to treat sleep disorders and slow progression of neurodegenerative diseases like Parkinson’s by reducing neuroinflammation. Other Syntara drug candidates target fibrotic and inflammatory diseases such as kidney fibrosis, MASH, pulmonary fibrosis and cardiac fibrosis. Syntara developed two respiratory products available in world markets (Bronchitol® for cystic fibrosis and Aridol®- a lung function test), which it sold in October 2023. Syntara is listed on the Australian Securities Exchange, code SNT. The company’s management and scientific discovery team are based in Sydney, Australia. www.syntaraTX.com.au. Forward-Looking Statements Forward‐looking statements in this media release include statements regarding our expectations, beliefs, hopes, goals, intentions, initiatives or strategies, including statements regarding the potential of products and drug candidates. All forward -looking statements included in this media release are based upon information available to us as of the date hereof. Actual results, performance or achievements could be significantly different from those expressed in, or implied by, these forward-looking statements. These forward-looking statements are not guarantees or predictions of future results, levels of performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results t o differ materially from those expressed in the statements contained in this document. For example, despite our efforts there is no certainty that we will be successful in partnering any of the products in our pipeline on commercially acceptable terms, in a timely fashion or at all. Except as required by law we undertake no obligation to update these forward -looking statements as a result of new information, future events or otherwise. SOURCE: Syntara Limited (ASX: SNT), Sydney, Australia (ABN: 75 082 811 630) AUTHORISED FOR RELEASE TO ASX BY: Syntara Limited Disclosure Committee. CONTACT: Syntara investor / media relations: Matthew Wright NWR Communications +61 451 896 420 matt@nwrcommunications.com.au JOIN THE SYNTARA MAILING LIST HERE
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Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 8 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B f entity SYNTARA LIMITED Quarter ended (“current quarter”) 75 082 811 630 30 J une 2026 lidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 1. Cash flows from operating activities 36 203 1.1 Receipts from customers 1.2 Payments for (2,121) ( 10,624 ) ( a) research and development ( b) product manufacturing and operating co sts - - (c ) advertising and marketing - - ( d) leased assets - - ( e) staff costs (1,249) (5,590) ( f) administration and corporate costs (427) (1,753) 1.3 Dividends received (see note 3) 32 100 1.4 Interest received - - 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid 12 7,392 1.7 Government grants and tax incentives - - 1.8 Other (provide details if material) 79 495 1.9 Net cash from / (used in) operating activities (3,638) (9,777) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: ( a) entities ( b) businesses - - (c ) property, plant and equipment - (2) ( d) investments - - ( e) intellectual property - -
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 9 + See chapter 19 of the ASX Listing Rules for defined terms. lidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 (f) other non-current assets - - 2.2 Proceeds from disposal of: - - (g) entities (h) businesses - - (i) property, plant and equipment - - (j) investments - - (k) intellectual property - - (l) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) - - 2.6 Net cash from / (used in) investing activities - (2) 3. Cash flows from financing activities 8,843 8,843 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities (494) (494) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (repayment of lease liability) - (88) 3.10 Net cash from / (used in) financing activities 8,349 8,261 4. Net increase / (decrease) in cash and cash equivalents for the period 8,858 15,076 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) (3,638) (9,777) 4.3 Net cash from / (used in) investing activities (item 2.6 above) - (2)
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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 10 + See chapter 19 of the ASX Listing Rules for defined terms. lidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 4.4 Net cash from / (used in) financing activities (item 3.10 above) 8,349 8,261 4.5 Effect of movement in exchange rates on cash held (7) 4 4.6 Cash and cash equivalents at end of period 13,562 13,562 5. liation of cash and cash equivalents d of the quarter (as shown in the consolidated nt of cash flows) to the related items in the s Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 1,200 1,128 5.2 Call deposits 12,362 7,730 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 13,562 8,858 6. nts to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 191 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. T he amount at 6.1 includes Director fees and salary (including short term incentives and superannuation) for the CEO and Managing Director and Non-Executive Directors.
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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 11 + See chapter 19 of the ASX Listing Rules for defined terms. 7. ng facilities erm “facility’ includes all forms of financing arrangements o the entity. as necessary for an understanding of the sources of financ o the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. N/A 8. ted cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (3,638) 8.2 Cash and cash equivalents at quarter end (item 4.6) 13,562 8.3 Unused finance facilities available at quarter end (item 7.5) - 8.4 Total available funding (item 8.2 + item 8.3) 13,562 8.5 Estimated quarters of funding available (item 8.4 divided by item 8.1) 3.7 Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. 8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: N/A 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: N/A 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: N/A Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.
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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 12 + See chapter 19 of the ASX Listing Rules for defined terms. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. 27 July 2026 Date: ................................................................................... T he Board of Directors Authorised by: ................................................................................... (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the ent ity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An ent ity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been pr epared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the c orresponding equivalent standard applies to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing ac tivities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the boar d”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, t he f inancial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.