Slides
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Final Results October 2026 1
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Contents 3 What we do 7 Market Opportunity 14 Financials 18 Our Strategy 20 Outlook 22 Appendices 2
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What we do 3
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4 Antibodies and Blood Testing WHAT WE DO • Bioventix creates and manufactures sheep monoclonal antibodies (SMAs) • Customers incorporate these antibodies into reagent packs for use on blood-testing analysers • Superior antibodies can facilitate improved tests • Bioventix supplies the “physical” SMAs in liquid form and earns royalties on their downstream use 4 BLOOD SAMPLE ANTIBODY VACUTAINER DIAGNOSTIC REAGENT PACK AUTOMATED BLOOD TESTING MACHINE 4
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5 Vitamin D (25 - OH vitamin D) Thyroid function (thyroxine, T3) Fertility (testosterone, estradiol, progesterone) Heart attack & failure (troponin, BNPs) Neurology & Alzheimer’s (Taus) Drug testing (THC) Diagnostic Applications for SMAs WHAT WE DO Bioventix has a portfolio of ~30 antibodies that are sold globally to in vitro diagnostics (IVD) companies ▪ Most have been created through the use of internal resources. ▪ Other antibodies (eg troponin) have been created through contract R&D and are exclusive to the partner companies ▪ The new Tau/neuro SMAs are being created through collaborative R&D
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Antibodies and Business Dynamics WHAT WE DO • Creating a new panel of antibodies takes Bioventix around a year • Customers then typically spend two to four years, even for established diagnostics, prototyping the test, running field trials, filing regulatory data and securing marketing approval • This creates a lag between R&D and value but also a barrier to entry that supports longer-term revenue continuity 6 3–5 years to market ~1 year Antibody development 2–4 yrs Test development & approval
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Market Opportunity 7
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Greater understanding of AD biology and disease progression Alzheimer’s therapeutics Licensed therapeutics 3 Phase III trials 75 Phase II trials 165 Phase I trials 107 AD diagnostics: RuO IVD Roche 12 4 Siemens 5 - Beckman 9 1 8 Alzheimer’s (AD) in 2026 MARKET OPPORTUNITY Greater understanding of underlying cell biochemistry RuO means research use only, IVD means an available clinical use assay ▪ Interest in AD therapeutics has gained momentum in recent years ▪ This has stimulated the need for blood tests that are additive to brain scans or can even replace brain scans
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• Amyloid plaque deposition is the first pathology to appear • Tau tangle formation occurs later and is more closely associated with AD progression • Neurodegeneration follows tangle formation and is a consequence of cell death T 9 Alzheimer’s Blood Tests MARKET OPPORTUNITY A N Brain pathology Established blood biomarker (candidate) Amyloid plaques ( A ) Total or brain - derived p - Tau217 Tau tangle formation ( T ) eMTBR - Tau Neurodegeneration ( N ) Total brain - derived Tau ▪ Total p-Tau217 assays have now been approved for clinical use as a measure of amyloid plaque pathology (A) ▪ Brain-derived p-Tau217 is considered by some experts to be marginally preferred ▪ eMTBR-Tau has emerged as a good candidate for later stage Tau tangle formation (T) ▪ Total brain-derived Tau is one of a few candidate biomarkers for neurodegeneration (N)
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eMTBR-Tau & Late-Stage Disease Assays MARKET OPPORTUNITY Sources - IVD: Alamar, Spear, Sysmex; Academic: Ashton, Karikari Tau PET ▪ Phospho Tau217 tracks early-stage disease ▪ eMTBR-Tau – present at an even lower concentration - better tracks late-stage disease ▪ Potential utility for confirmation of cognitive assessment and suitability for trials/therapy
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11 Alzheimer’s SMAs: Commercialisation MARKET OPPORTUNITY Brain pathology Established blood biomarker candidate R&D assay launched IVD clinical assay Partners/ IVD Partners/ New HS Amyloid plaques (A) Total or brain - derived p - Tau217 3 3 Tau Tangle formation (T) eMTBR - Tau 2 Neurodegeneration (N) Total brain - derived Tau 4 4 NEW ▪ “Partners” have either launched an RuO or IVD assay or we believe have imminent plans to launch an assay that uses at least one SMA (ie for biomarker capture or detection) ▪ “Partners/IVD” means a top 10 global IVD company (eg Roche, Siemens, Abbott, Beckman, Quidel-Ortho, Mindray, Fujirebio etc) ▪ “New HS” means a newer high sensitivity platform company (Quanterix, Alamar, Spear, Bio-techne/Ella, Merck/SCM&Singulex, Taudia, Stata, ThermoFisher/Olink etc)
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12 Neurology: Research Pipeline MARKET OPPORTUNITY Non-Alzheimers: ▪ Vascular dementia ▪ Rare dementias Alzheimers: ▪ Additional staging assays Non-brain: ▪ Peripheral neuropathies
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13 AMYLOID (Pre-Diagnostics/Alzheimer’s): ARIA (amyloid-related imaging abnormality) is an important side-effect of new anti-amyloid drugs for Alzheimer’s. Pre-Diagnostics assays relate to amyloid metabolism and could help screen for ARIA vulnerable patients, before or during treatment INDUSTRIAL BIOMONITORING & PYRENE More field trials continue. Firefighter exposure to combustion products is a clear potential application WATER QUALITY A biodegradable lateral flow device for measuring paracetamol levels at the riverside will facilitate field trials in 2027 Other Developments MARKET OPPORTUNITY
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Financials 14
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15 £ (‘000) FY 25 (June year - end) FY 26 (June year - end) FY26 Cavendish Forecast (June year - end) Sales 13,120 12,970 ( - 1%) 12,500 P/(L) before tax (adjusted: certain costs stripped out) 10,100 10,230 (+1%) 9,600 (adjusted) P/(L) after tax 7,580 7,610 ( - ) 7,200 (adjusted) Period - end cash 5,080 5,260 4,900 Spring/Autumn dividend 70/80 70/80 Year dividend total 150 150 150 Key Year-End Financials • All R&D costs (industrial & water pollution, Gothenburg & collaboration costs) are included in cost of sales • A second interim dividend of 80 p /share will be paid on 20 November 2026 FINANCIALS
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FY26 Sales Mix self - funded contract R&D collaborative R&D • £555k neuro total was split: ‐ £257k royalties, up x3 from £75k ‐ £298 k physical SMA sales ( down from £530k) • Siemens troponin revenues will terminate in June 2032 • 7 Steroids include estradiol, testosterone, progesterone etc • £400k/year of progesterone revenues will be lost in 26/27 16 FINANCIALS -4% -3% -7% -18% +38% -9% ← % change from 2024/25
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17 Sales Commentary FINANCIALS VITAMIN D Sales were slightly down but proved resilient in a difficult environment CORE HISTORIC ANTIBODIES T3 sales were affected by adverse Chinese market conditions TROPONIN sales were slightly down compared to last year 17 TAU & NEURO ▪ Royalties grew by x3 to £257k as more assays featuring SMAs reached the downstream market ▪ Sales of purified antibodies for customers Tau assays are naturally sporadic ▪ Two new Tau SMAs (eMTBR-Tau) are now being manufactured at scale making a total of seven ▪ The footprint of Bioventix in the field remains healthy and continues to grow
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Our Strategy 18
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19 Our Growth Strategy OUR STRATEGY Historic product portfolio Neurology products • Nurture and build the capability, knowledge and skills of the Bioventix team to deliver the strategy Investment in our Team • Progress the commercialisation of existing Tau SMAs • Seek additional neurological diagnostic biomarkers and identify partner collaborators (ie similar to Tau & University of Gothenburg) • Strive to maintain revenues through the continued supply of high quality antibodies with excellent service • Seek opportunities for sales continuation through new “sandwich” antibody formats (eg cortisol & vitamin D) Neurology products Neurology productsInvestment in our team Investment in our Team Neurology productsHistoric product portfolio
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Outlook 20
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21 Outlook and Conclusion and Sales of neuro SMAs have performed strongly and our extensive footprint at customers bodes well for the future Our participation in the emergence of a new AD blood biomarker for Tau tangle formation (eMTBR-Tau) is a major achievement Sales of our vitamin D antibody and other core antibodies were relatively stable during the year with minor losses due to a challenging commercial environment in China 1 2 3 Low-cost base allows us to maintain profitability, cash-flow and dividend policy whilst we drive growth in neurology opportunities 4
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Appendices 22
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23 Board of Directors APPENDICES >30 years experience of antibody technology at Celltech, KS Biomedix & Bioventix. Peter remains healthy and committed to Bioventix >30 years experience of commercial development within biotechnology including Amersham, Celltech, Chroma, Clinigen, Consort Medical & F2G Appointed as a Bioventix NED on 1 March 2026. Chartered Accountant >20 years board level experience in listed companies within the IVD diagnostic market (Cozart, IDS and Abingdon Health) Chartered Engineer with a distinguished background in the Pharmaceutical, Life Sciences and Biotech sectors (GSK, UK Dementia Research Institute) Chartered Accountant with >30 years experience in growing listed, privately owned and VC backed SMEs. Peter Harrison Chief Executive Officer Ian Nicholson Chairman Bruce Hiscock Chief Financial Officer Jo Pisani Non-Executive Director Chris Yates Non-Executive Director
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24 Our Farnham Lab Production capacity and final product storage have increased to support the neuro projects Technology Development Bioreactor productionCell culture Purification and assay • Staff continuity remains healthy • One new science graduate from the locality started in October 2025 APPENDICES
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5,224,860 Total shares (Oct 2026) From permissions, other available data and TR-1 forms received as at Oct 2026 25 Significant Shareholders APPENDICES Institution Shares (1000s) % Gresham House 628 12.0 Liontrust 572 11.0 Rathbone Investment 324 6.2 Peter Harrison 306 5.9 Premier Miton 263 5.0 Raymond James WM (Charles Stanley) 265 5.0 Sanford DeLand 254 4.9
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T: +44 (0)1252 728001 E: info@bioventix.com Postal address: Bioventix 7 Romans Business Park East Street Farnham GU9 7SX 26