AnteoTech Ltd. announced that following the first stage of an operational review, a decision has been made to halt the EuGeni SARS-CoV-2 Ag RDT1 European clinical trial and divert resources and funding from the trial to enable the acceleration of the COVID- 19 Flu A /Flu B Multiplex and/or other Point of Care (POC) tests currently being considered by AnteoTech's New Product Council. The background to the decision includes: - A small number of outliers which have adversely affected the performance of the EuGeni SARS-CoV-2 Ag RDT have been identified. These results are inconsistent with its previously reported performance and these outliers are concentrated in one geographic region.

- The test's performance, when excluding the outliers, remains consistent with results reported from the Australian Clinical trial (87.76% sensitivity and 100% specificity2). - Further root cause analysis will be conducted to identify the cause of the outliers prior to continuing the pursuit of sales opportunities in Europe. - Decreasing significance is being placed on Common List requirements for sales into European countries, with the EU Digital COVID Certificate regulation that supports the Common List expected to expire on 30 June 2023.

- There is increasing support and focus from health authorities, including the World Health Organisation, on Combo COVID-19 Flu A /Flu B testing. - Discontinuation of the trial enables a reallocation of staff resources and cash in the order of $700,000 to be allocated to the acceleration of future POC diagnostic tests under consideration by AnteoTech's New Product Council. - For the time being the Company has made the decision not to pursue additional regulatory approvals for the single COVID-19 test.