Universal Biosensors : June 2022 Quarterly Activity Report & Appendix 4C

For personal use only

Universal Biosensors, Inc.

ARBN 121 559 993

1 Corporate Avenue

Rowville Victoria 3178

Australia

Telephone [phone]

Facsimile [phone]

[e-mail]

www.universalbiosensors.com

28 July 2022

Universal Biosensors, Inc.

June 2022 Quarterly Activity Report

Universal Biosensors, Inc. (ASX:UBI) (UBI) has today released its cash flow report (ASX Appendix 4C) and quarterly activity report for the quarter ended 30 June 2022 (Q2 2022).

UBI is developing and commercializing a range of biosensors in oenology (wine industry), human health including oncology, coagulation, COVID-19, women's health and fertility, non-human and environmental testing using our patented platform technology and hand-held point of use devices.

The primary focus of UBI's activities during the second quarter of 2022 were:

• A$26 million raised pursuant to a A$20 million fully underwritten rights issue and a A$6 million placement, both at A$0.77;
• Sentia quarter on quarter direct sales increased 21% between Q2 2022 and Q1 2022;
• Overall sales of Sentia for H1 2022 were in line with H1 2021;
• Xprecia Prime received regulatory approval to sell in 32 countries in Europe;
• 281 patients have been enrolled in the Xprecia Prime clinical trial in the USA (360 patients required in total);
• UBI established an Ecommerce website for the sale of our suite of Sentia products in the USA;
• UBI appointed a Business Development Manager for Sentia Europe;
• UBI entered into new distribution agreements with Vivelys USA and Vivelys Chile and Vintner Vault (USA) for the sale of Sentia's wine testing platform device;
• Our first Sentia sales order placed in the United Kingdom;
• The finalization of Sentia's Glucose product;
• Ongoing development of Sentia wine testing products;
• The establishment of a distribution centre in the USA to support the global expansion of the Company's wine testing product sales. This is in addition to the distribution centres we have in Australia and Europe;
• The continuing successful development and use of aptamer sensing technology on our hand-held platform device;
• The progression of an Investigational Clinical Study (300 patient/+) for our Tn Antigen biosensor used for the detection, staging and monitoring of cancer;
• The continued development of our blood glucose monitoring product for dogs and cats with diabetes;
• The appointment of a Business Development Director for our Petrackr Blood Glucose Monitor in the USA; and
• The investment into our manufacturing scale-up project which will add an approximate annual 35 million strip.

FINANCIAL UPDATE

Net cash (cash and cash equivalents less short and long-term debt) as at 30 June 2022 was $33.1 million.

Highlights are as follows:

• Receipts from customers during the three months ended 30 June 2022 increased by 39% to $1.4 million compared to the previous corresponding period
• Receipts from customers during the six months ended 30 June 2022 increased by 80% to $2.4 million compared to the previous corresponding period

For personal use only

Universal Biosensors, Inc.

ARBN 121 559 993

1 Corporate Avenue

Rowville Victoria 3178

Australia

Telephone [phone]

Facsimile [phone]

[e-mail]

www.universalbiosensors.com

Payments of $86,000 as disclosed in item 6 of the attached Appendix 4C comprised of the non-executive directors' fees, allowances and superannuation.

For further information, please contact:

John Sharman

Chief Executive Officer [phone]

Announcement authorised by the Board of Directors of Universal Biosensors, Inc.

For personal use only

Rule 4.7B

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Name of entity

UNIVERSAL BIOSENSORS, INC.
ABN	Quarter ended ("current quarter")
67 950 836 446	30 June 2022

Consolidated statement of cash flows	Current quarter	Year to date (6
			$A'000	months)
				$A'000
1.	Cash flows from operating activities
1.1	Receipts from customers	1,381	2,402
1.2	Payments for
	(a)	research and development	(1,292)	(2,292)
	(b) product manufacturing and operating	(861)	(2,107)
		costs
	(c)	advertising and marketing	(145)	(422)
	(d)	leased assets	(311)	(420)
	(e)	staff costs	(2,495)	(5,176)
	(f) administration and corporate costs	(756)	(1,760)
1.3	Dividends received (see note 3)
1.4	Interest received	12	19
1.5	Interest and other costs of finance paid	(5)	(11)
1.6	Income taxes paid
1.7	Government grants and tax incentives	33	33
1.8	Other (provide details if material)	37	76
1.9	Net cash from / (used in) operating	(4,402)	(9,658)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a)	entities
	(b)	businesses
	(c) property, plant and equipment	(133)	(406)
	(d)	investments
	(e)	intellectual property
	(f) other non-current assets

ASX Listing Rules Appendix 4C (17/07/20)	Page 1
+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Current quarter	Year to date (6
			$A'000	months)
				$A'000
2.2	Proceeds from disposal of:
	(a)	entities
	(b)	businesses
	(c)	property, plant and equipment
	(d)	investments
	(e)	intellectual property
	(f)	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	(133)	(406)
	activities

3. Cash flows from financing activities

3.1 Proceeds from issues of equity securities

(excluding convertible debt securities)

26,007

26,007

3.2 Proceeds from issue of convertible debt securities

3.3	Proceeds from exercise of options	40	44
3.4	Transaction costs related to issues of	(993)	(993)
	equity securities or convertible debt
	securities
3.5	Proceeds from borrowings	0	1,002
3.6	Repayment of borrowings	(331)	(777)

3.7 Transaction costs related to loans and borrowings

3.8	Dividends paid
3.9	Other (provide details if material)	(1)	(1)
3.10	Net cash from / (used in) financing	24,722	25,282
	activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1 Cash and cash equivalents at beginning of

	period	13,014	18,099
4.2	Net cash from / (used in) operating	(4,402)	(9,658)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	(133)	(406)
	(item 2.6 above)

ASX Listing Rules Appendix 4C (17/07/20)	Page 2
+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Current quarter	Year to date (6
		$A'000	months)
			$A'000
4.4	Net cash from / (used in) financing activities	24,722	25,282
	(item 3.10 above)
4.5	Effect of movement in exchange rates on	230	114
	cash held
4.6	Cash and cash equivalents at end of	33,431	33,431
	period
5.	Reconciliation of cash and cash	Current quarter	Previous quarter
	equivalents	$A'000	$A'000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	6,556	10,784
5.2	Call deposits	25,000
5.3	Bank overdrafts
5.4	Other (provide details)	1,875	2,230
	The Company maintains restricted cash
	which includes tenant security deposits,
	credit card security deposits and a letter of
	credit issued in favour of a Customer.
5.5	Cash and cash equivalents at end of	33,431	13,014
	quarter (should equal item 4.6 above)
6.	Payments to related parties of the entity and their	Current quarter
	associates		$A'000
6.1	Aggregate amount of payments to related parties and their	86
	associates included in item 1

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.

Item 6.1 includes non-executive directors' fees and salaries, allowances and superannuation

ASX Listing Rules Appendix 4C (17/07/20)	Page 3
+ See chapter 19 of the ASX Listing Rules for defined terms.