Announcement PDF Avecho Biotechnology Limited | ASX: AVE | ACN: 056 482 403 | ABN: 32 056 482 403 Unit 8A, 2A Westall Road, Hallmarc Business Park, Clayton VIC Australia 3168 avecho.com.au ASX Announcement 26 May 2026 Chair’s Address & CEO Presentation Melbourne, Australia, 26 May 2026: Avecho Biotechnology Limited (ASX: AVE) (“Avecho” or the “Company”) attaches the Chair’s Address and the Chief Executive Officer’s presentation for the Annual General Meeting of 26 May 2026 to be held at Grant Thornton Offices, Collins Square, Tower 5, Level 22, 727 Collins Street, Melbourne VIC 3008 at 1.00pm (AEST). For enquiries, please contact Naomi Lawrie Company Secretary Avecho Biotechnology Limited +61 3 9002 5000 This announcement has been authorised by the Board of Directors of Avecho Biotechnology Limited. About Avecho Avecho Biotechnology Limited develops and commercialises innovative Human and Animal Health products using its proprietary drug delivery system called Tocopheryl Phosphate Mixture (TPM® ). TPM® is derived from Vitamin E using unique, proprietary and patented processes and is proven to enhance the solubility and oral, dermal and transdermal absorption of drugs and nutrients. Avecho’s lead asset is a proprietary cannabidiol (“CBD”) TPM soft-gel capsule demonstrated to increase CBD absorption. The CBD soft-gel capsule is currently undergoing Phase III clinical development for the treatment of insomnia. See more here - avecho.com.au Avecho Biotechnology Limited | ASX: AVE | ACN: 056 482 403 | ABN: 32 056 482 403 Unit 8A, 2A Westall Road, Hallmarc Business Park, Clayton VIC Australia 3168 avecho.com.au Chair’s Address Dear Shareholders, I am pleased to welcome you to the 2026 Annual General Meeting of Avecho Biotechnology Limited. When we met at last year's AGM, the Company had recently completed the licensing of the Australian commercial rights for our TPM®-enhanced cannabidiol soft-gel capsule to Sandoz. At that time, I noted the significance of partnering with a company of Sandoz's scale and expertise. The twelve months since have been a period of steady execution against the program that partnership made possible, alongside meaningful progress in the Company's corporate and financial position. Corporate and financial position The Company completed a $2.5 million placement in October 2025. This was followed by the receipt of approximately $1.9 million from the expiry of the AVEOA options earlier this month, with a further R&D tax credit anticipated in due course. Together, these provide the Company with a pro-forma cash position of approximately A$6.6 million. Our story has successfully caught the attention of new stockbroking and wealth management firms, in additional to new institutional investors that we have welcomed to the register. As a result, Avecho's market capitalisation has increased from $12.7 million at the last AGM to approximately $50 million today. Clinical execution At the centre of the Company's activity is the Phase III clinical trial of our lead product in chronic insomnia, conducted with the support of Sandoz. Recruitment for the interim analysis closed ahead of target, with 244 patients randomised against an original interim threshold of 210. The Company has also appointed an independent Data Monitoring Board, which will oversee the interim analysis. Paul will speak in detail to the trial itself shortly. The interim analysis is expected in late June. It is the next defined step in a program that has been developed over several years, and the Company approaches it having completed the work it set out to complete in advance of the read-out — operationally, financially, and in terms of the partnerships and oversight now in place. We will allow the data to speak for itself. Conclusion and handover On behalf of the Board, I would like to thank the entire Avecho team for their work over the past year, and you, our shareholders, for your continued support as the Company approaches this next step. Avecho Biotechnology Limited | ASX: AVE | ACN: 056 482 403 | ABN: 32 056 482 403 Unit 8A, 2A Westall Road, Hallmarc Business Park, Clayton VIC Australia 3168 avecho.com.au I would also like to take the opportunity to thank Matt McNamara, who has made the decision to step down from the Board after six years of service. Matt has been an important part of the Company during the foundational development period of our CBD product, in addition to chairing our risk and audit committees. We wish him well in his next endeavours. I will now hand over to our Chief Executive Officer, Dr Paul Gavin, who will speak to the upcoming read-out, the possible outcomes from the Data Monitoring Board, and the Company's plans for the second half of 2026. Thank you. Dr Gregory Collier Chairman of Avecho Biotechnology Limited CEO Presentation Tuesday 26th May 2026 www.avecho.com.au | ASX:AVE Safe Harbour Statement This presentation, and any representations made before, during or after the presentation, may include forward-looking statements that are inherently subject to risks and uncertainties. These statements relate to, but are not limited to: (1) the safety or efficacy of, or potential applications for, Avecho’s TPM® platform technology; (2) the strength of Avecho‘s intellectual property; (3) the timelines for Avecho’s clinical trials and regulatory processes for its different products; (4) the scalability and efficiency of manufacturing processes; (5) revenue projections, market share expectations, share price expectations and capital requirements. Actual results may differ from the expectations expressed in these forward-looking statements, and the differences may be material (whether positive or negative). The risks that may cause Avecho‘s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, include but are not limited to: (1) risks inherent in the development, approval and commercialization of potential products; (2) uncertainty of clinical trial results or regulatory approvals or clearances; (3) changes to market trends or government laws or regulations; (4) the potential need for future capital; (5) dependence upon collaborators; and (6) protection of intellectual property rights, among others. Accordingly, you should not place undue reliance on these forward- looking statements. Coming into the Phase III interim analysis Treatment Phase Complete Phase III insomnia trial 244 patients completed for the interim analysis — readout late June 2026. Significant Commercial Partner in place Sandoz, world's largest generics pharma — US$3M upfront, US$16M in milestones, 14–19% tiered royalties. Active discussions with parties for additional territories. Money in the bank Proforma cash position of $6.6M , provides strong position to execute deals following a positive interim readout The market is starting to listen Market cap ~4× since the 2025 AGM; Euroz Hartleys initiated unsolicited research coverage. The interim analysis arrives in five weeks. I'll spend today talking through how we got here and what comes next W H E R E A V E C H O S I T S T O D A Y Clear registration pathway with the TGA Unique Australian OTC pathway for CBD; trial designed and conducted for TGA submission. Significant commercial potential in Australia 9.5M Australians experience insomnia; addressable market potential >US$125M per annum. Advancing every functional area of the business Corporate ● $2.5M placement October 2025 ● AVEOA options exercised May 2026 — $1.9M cash ● $2.0M R&D tax credit Q2 — pro-forma cash ~A$6.6M ● Capital structure simplified — options expired Investor relations ● Market cap up ~4× since last AGM (~$12.7M → ~$49.8M) ● Active investor roadshows and engagement program ● Larger institutional investors joining the register ● Euroz Hartleys initiated independent research coverage Business development ● Sandoz global team actively engaged on the program ● Active licensing discussions for ex-Australian territories with additional parties ● Licensing discussions well progressed, expected post interim outcome Research & development ● 244 patients randomised — 16% above interim target ● Recruitment rate doubled vs 2024 ● Independent Data Monitoring Board commenced Feb 2026 ● US patent granted — protection to 2043 (EU in allowance) T H E Y E A R B E H I N D U S We closed recruitment ahead of target 244 patients randomised 16% above the 210-patient interim analysis target 2× randomisation rate in 2025 vs 2024 — protocol amendments and new sites delivered What the over-recruitment means Greater statistical power More patients means the interim analysis assesses efficacy from a more robust dataset than the protocol originally required. Strict inclusion criteria maintained Additional patients met the same rigorous eligibility requirements — no shortcuts to hit the number. Recruitment momentum at closure A surge of eligible patients in the closing weeks delivered the over-target outcome P H A S E I I I R E C R U I T M E N T The market is listening P H A S E I I I R E C R U I T M E N T The result of telling a consistent story ~4× re-rate since the 2025 AGM | ~$12.7M → ~$49.8M Active institutional engagement programme ● Multiple investor roadshows in 2025–26 ● New institutional investors on the register ● Capital structure simplified post option expiry ● All eyes are on the June result 0 10 20 30 40 50 60 Aug 24 Nov 24 Feb 25 May 25 Aug 25 Nov 25 Feb 26 May 26 Market capitalisation (A$M) US patent granted; European patent in allowance US protection to 2043 • EU grant expected to follow • Covers proprietary cannabinoid soft-gel formulation Coverage protects Avecho's proprietary cannabidiol soft-gel formulation — the combination of TPM, cannabinoid and lipid that makes the product unique — in two of the world's largest pharmaceutical markets. Importantly, the patents extend beyond CBD to formulations incorporating other cannabinoids, opening optionality for future products on the same platform. Strengthens ex-Australia licensing International licensing discussions reinforced by demonstrable IP protection in two of the largest pharmaceutical markets US grant secured USPTO has granted the patent — formal protection in place to 2043 Extends Avecho's moat Avecho's TPM IP is a competitive moat that prevents the future launch of generic copies I N T E L L E C T U A L P R O P E R T Y US patent granted — protection to 2043 12 months on Australian commercial rights signed March 2025 US$3M upfront received US$16M in development milestones 14–19% tiered royalties on net sales 10-year development and licensing agreement Right of first refusal for ex-Australian rights Twelve months in — a deeper partnership than the paper Team and resourcing Our experience: Sandoz has assigned a substantial team to the program — broader than we anticipated when the deal was signed. Working with the partner Clinical, manufacturing and regulatory conversations are now active with Sandoz counterparts — well beyond contract administration. Commercial readiness Sandoz brings an Australian field sales team, pharmacy relationships, and national distribution — infrastructure that activates on TGA approval. Strategic option on ex- Australia Sandoz holds a right of first refusal over territories outside Australia — shaping our parallel global licensing conversations. Twelve months in, we view the partnership as materially deeper than the contract on paper. Management and Board Company Snapshot AVE Corporate Summary Total shares 3.83 Bn Total options1 0.16 Bn Cash (end Q1 2026) + Options Exercised (May) + R&D tax credits Q2 2026 Proforma Cash A$4.3 M $1.9M $2.0M $6.6M 52 week high/low MCAP2 0.3c – 1.4c A$49.79 M 1 Staff LTI plan 2 As of May 22nd 2026 Top 20 Shareholders = 35.53% Dr Paul Gavin Chief Executive Officer Dr Roksan Libinaki Chief Operating Officer Dr Greg Collier Chairman Dr Ross Murdoch Non-Executive Director Ms Kathy Connell Non-Executive Director Ms Naomi Lawrie Company Secretary FIVE WEEKS AWAY T H E I N T E R I M A N A L Y S I S 244 participants randomised for the interim cohort 3 arms 75mg CBD | 150mg CBD | placebo 8 weeks of nightly dosing per participant 2 endpoints Insomnia Severity Index (ISI) + subjective sleep efficiency (sSE) Blinded patients, investigators and Avecho all blinded to allocation Insomnia — what we're treating Difficulty falling or staying asleep Affects ~10-30% of Australians No approved OTC pharmaceutical product currently available in Australia for ongoing use Australia's unique Schedule 3 OTC pathway for CBD opens a first-mover commercial opportunity 2 T H E T R I A L Phase III design — what we're testing Largest CBD insomnia trial globally; designed to support a TGA submission on positive completion. What the interim analysis is 1 What gets tested The interim analysis examines whether the CBD TPM® capsule is improving sleep in the 244 patients dosed to date — measured using two independent primary endpoints (ISI and sSE). Either endpoint succeeding is sufficient. 2 Who decides An independent Data Monitoring Board reviews the unblinded data. The DMB is independent of Avecho and the trial investigators. Avecho remains fully blinded throughout the process. 3 What we'll learn The DMB will recommend one of three outcomes: 1) Positive - Continue the trial with a second cohort of patients - confirmed sample size 2) Positive - Stop the trial for efficacy 3) Negative - stop the trial for futility We acknowledge the interim analysis represents a binary outcome for the insomnia program — and we approach it with realistic, evidence-based confidence in the trial's design. U N D E R S T A N D I N G T H E R E A D O U T 3 From recruitment closed to interim result 2 March 2026 Recruitment closed May 2026 Dosing complete (244 patients, 8 week treatment) May 2026 Database locked, statistical analysis commences 4 June 2026 DMB conducts data review 5 Late June 2026 DMB delivers findings to Avecho ★ Late June 2026 Avecho announces result to ASX Independent Data Monitoring Board (DMB) • External sleep, safety and biostatistical experts • Independent of Avecho and trial investigators • Met first time February 2026 to confirm charter and process Avecho, trial sites and trial investigators remain fully blinded throughout. The DMB is the sole body with access to unblinded interim data -- standard best practice for pivotal placebo-controlled trials. P R O C E S S T O R E A D O U T 4 Why this trial is positioned to deliver a clinical signal Three key design features have been built into this trial specifically to maximise the probability of a successful result 01 Two independent primary endpoints 1) Insomnia Severity Index (ISI) 2) Subjective Sleep Efficiency (sSE) Only one needs to work for trial success. 02 Adaptive design interim analysis The interim analysis can recalibrate the trial, adjusting the required patient numbers during the study to ensure the result is conclusive. 03 Placebo-effect control mechanisms The protocol is designed to minimise damage from the placebo response — improving the chance that genuine drug effect is detected cleanly. Supporting design features 150mg Maximum allowed OTC dose tested 519 Largest CBD insomnia trial globally 8 weeks Treatment duration per patient ISI ≥ 15 Tight inclusion criteria FDA + EMA Trial designed to global standards T R I A L D E S I G N 5 Three possible outcomes Stop for efficacy -- positive Upside scenario — not expected, but possible The drug/trial is working so well results are highly statistically significant after 244 patients. The DMB can recommend stopping the trial early, declaring Phase III successful. Stop for futility -- negative The drug is not showing the required effect Dosing of further patients ceases — preserving shareholder capital. The CBD asset retains commercial value for alternative indications. The expected positive result is continuing the trial to 519 patients. Stop-for-efficacy is upside, not the expectation. W H A T H A P P E N S A F T E R T H E R E A D O U T Trial continues -- positive Base case positive outcome — this is what we are aiming for The drug/trial is working, with an observable difference between treatment and placebo. DMB recommends continuing the trial with a confirmed sample size needed to reach statistical significance at completion. 6 Continuing the trial — how we fund it, how we execute The base case requires ~300 additional patients. The two questions shareholders will ask: how much, and how long? How we fund it ● Priority: pharmaceutical licensing deal for an ex-Australian territory — upfront fees from licensing would fund Phase III completion. ● Capital raise as an alternative – but plenty of time to focus on deals ● Decision driven by what's in Avecho’s/shareholders' best interests at the time How we accelerate ● ~300 additional patients required to complete the trial ● Plan to open ~10 additional clinical sites — already identified ● With additional sites engaged, recruitment expected to take ~12 months ● Lessons from interim recruitment fully embedded in completion plan What runs in parallel ● TGA dossier construction (with Sandoz) ● Manufacturing scale-up continues — funded from earlier placement ● Further ex-Australia licensing conversations progress to closure ● Engagement with international regulators (e.g. FDA) for global pathway optionality B A S E C A S E I N D E T A I L Next 12 months — milestones and triggers Now → Late June 2026 Interim analysis readout ● Dosing complete; database locked ● Statistical analysis ● DMB data review ● Formal DMB meeting - results ● Avecho announces result to ASX H2 2026 Post-readout activation ● Pursue further licensing deals ● Open additional trial sites and recommence dosing ● Potential engagement with overseas regulators (e.g. FDA) ● Manufacturing scale-up continues 2027 Trial completion and submission readiness ● Complete Phase III dosing to final patient ● Complete manufacturing work required for TGA submission ● Compile and finalise TGA submission dossier ● Continue international partner development A S S U M I N G S U C C E S S Every part of our thesis has been independently validated For years we have claimed big things for this product. At each step, an external body has validated those predictions. One piece of validation remains. Preclinical validated that TPM Increased CBD absorption US Patent Office validated that Product is unique TGA validated that Trial design & submission strategy are sound Sandoz validated that Data, trial design, commercial case are compelling Market validated that Story is good, value will follow Interim analysis validated that Product works for the indication June 2026 The next piece of validation arrives in June 17 C L O S I N G A R G U M E N T Questions Welcome Dr Paul Gavin Chief Executive Officer T. +61 3 9002 5000 E. pgavin@avecho.com.au Melbourne Office Unit A8, 2A Westall Road Hallmarc Business Park Clayton VIC 3168 Australia T: +61 3 9002 5000 E: info@avecho.com.au