Hexima : 2022 Annual Financial Report

Hexima Limited

FINANCIAL REPORT

For the year ended 30 June 2022

Hexima Limited Annual Report

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ABN 64 079 319 314

TABLE OF CONTENTS

Corporate Directory	3
Corporate Governance Statement	4
Directors' Report	5
ASX Additional Information	25
Consolidated Statement of Profit or Loss and other Comprehensive Income	28
Consolidated Statement of Financial Position	29
Consolidated Statement of Changes in Equity	30
Consolidated Statement of Cash Flows	31
Notes to the Consolidated Financial Statements	32
Directors' Declaration	66
Independent Auditor's Report	67
Lead Auditor's Independence Declaration	72

Hexima Limited Annual Report

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ABN 64 079 319 314

CORPORATE DIRECTORY

Directors
Dr Nicole van der Weerden	Acting Chief Executive Officer and Executive Director
Prof Jonathan West	Non-Executive Chairman
Mr Michael Aldridge	Non-Executive Director
Mr Justin Yap	Non-Executive Director
Mr Scott Robertson	Non-Executive Director
Mr Jason (Jake) Nunn	Non-Executive Director
Mr Steven Skala AO	Alternate Non-Executive Director
Company Secretary
Ms Leanne Ralph
Registered Office
Hexima Limited
Corporate One, 84 Hotham Street
Preston Victoria 3072 Australia
Share Registry
Link Market Services
Tower 4, Collins Square
727 Collins Street
Melbourne Victoria 3008, Australia
Auditor
KPMG
Tower Two, Collins Square
727 Collins Street
Melbourne Victoria 3008, Australia
Stock Exchange
Australian Securities Exchange Ltd
ASX code
HXL

Hexima Limited Annual Report

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ABN 64 079 319 314

CORPORATE DIRECTORY

The Corporate Governance Statement is current at 30 June 2022 and can be found on the Company's website:

https://hexima.com.au/investor-centre/corporate-governance/

The Corporate Governance statement was approved by the Board of Directors 21st September 2022.

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ABN 64 079 319 314

DIRECTORS' REPORT

The Directors present their report together with the financial report of Hexima Limited ("the Company" or "Hexima") and of the Group, being the Company and its subsidiaries for the financial year ended 30 June 2022 and the auditor's report thereon.

DIRECTORS

The Directors of Hexima at any time during or since the end of the financial year are:

Professor Jonathan West BA (University of Sydney), PhD (Harvard University)

Non-Executive Chairman

Professor Jonathan West was the founding Director of the Australian Innovation Research Centre. Prior to assuming that appointment, he taught for 18 years at the Harvard University Graduate School of Business Administration, where he was Associate Professor, founding Director of the Harvard University Life Sciences Initiative, and from 1998-1999 the Novartis Faculty Research Fellow. He has been Visiting Professor at Hitotsubashi University and the Nomura School of Advanced Management in Tokyo, Japan and Visiting Professor at the University de Paris IX-Dauphine, Sorbonne.

Professor West was Chairman of the Asia Advisory Council of Bunge Ltd, one of the world's largest agribusiness processing and trading companies, and has served as an advisor to other major corporations and several Governments around the world, including in the life sciences field, DuPont, Roche, Novartis, Syngenta and the J.R. Simplot Company, along with the Governments of Singapore, Japan, Hong Kong and France. He was a member of the Scientific Advisory Board of the Novartis Agricultural Discovery Institute in La Jolla, California. In Australia, he has served on the Prime Minister's Science, Engineering, Innovation Council's Working Group on Science and Technology in China and India and in 2006 was 'Eminent Thinker in Residence' with the Premier of NSW. Professor West is Non-Executive Chairman of Gowing Bros Limited and Non-Executive Director of Cobram Estate Olives Limited and the Tasmanian Artisans Collection.

Professor West has been a Director of the Company since 7 November 2005 and was appointed Non-Executive Chairman on 18 November 2014. He is a member of the Remuneration and Nomination Committee and Chairman of the Audit and Risk Management Committee.

Michael Aldridge BSc (Hons) (University of Canterbury), M.A. Applied Finance (Macquarie University)

Managing Director and Chief Executive Officer

Mr Aldridge most recently served as Senior Vice President, Corporate & Strategic Development, Codexis from October 2016 until August 2018. Prior to that, from January 2012 to September 2014, Mr. Aldridge served as Senior Vice President, Corporate Strategic Development Questcor Pharmaceuticals, Inc., a publicly-traded biopharmaceutical company acquired by Mallinckrodt Pharmaceuticals in 2014. From May 2010 to September 2012, Mr. Aldridge served as Chief Executive Officer and a member of the board of directors Xenome Limited, a privately-held biopharmaceutical company headquartered in Australia.

Between 2003 and 2009, Mr. Aldridge served as Chief Executive Officer and a member of the board of directors and a strategic consultant at Peplin, Inc., a publicly-traded drug development company acquired by LEO Pharma A/S in 2009. Prior to that, Mr. Aldridge held investment banking positions at various financial firms, including Wilson HTM Investment Group, Bear, Stearns & Co., Volpe, Brown, Whelan & Company and S.G. Warburg Group. Mr. Aldridge received a B.S. with honours in Chemistry from the University of Canterbury in Christchurch, New Zealand and an M.A. in Applied Finance from Macquarie University in Sydney, Australia.

Mr Aldridge was Chief Business Officer between May 2019 and September 2020 and was appointed Chief Executive Officer in September 2020. Mr Aldridge has been a Director of the Company since 21 May 2019. Mr Aldridge stepped down from his role as Chief Executive Officer and Managing Director on 1 August 2022 but remains a Non-Executive Director.

Dr. Nicole van der Weerden BSc, PhD (La Trobe University)

Executive Director, Chief Operating Officer

Dr. Nicole van der Weerden completed her PhD in Biochemistry at La Trobe University in 2007. Her PhD research on the antifungal properties and mechanism of action of plant defensins led to the award of a prestigious Victoria Fellowship in 2006. Since completing her PhD, Dr. van der Weerden has worked for Hexima and has led the gene discovery program for the Pioneer partnership on control of fungal diseases in corn. She led the Hexima team that

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ABN 64 079 319 314