Mr. Cameron Groome reports

MICROBIX UPDATES INVESTOR PRESENTATION ON ITS WEBSITE

Microbix Biosystems Inc. has updated the investor presentation on its corporate website in response to comments of staff of the Ontario Securities Commission (OSC and OSC Staff) in relation to its usage of earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of financial results not formally defined by international financial reporting standards (IFRS).

Specifically, over the course of a much broader OSC review of company continuous disclosure materials, it was identified that Microbix referred to EBITDA on two slides within its investor-oriented PowerPoint presentation. For those references, OSC Staff noted that Microbix did not provide the associated disclosures required by Subsection 6.1(e) of National Instrument 52-112 (Non-GAAP and Other Financial Measures Disclosure) to explain the meaning of EBITDA to current or prospective investors with respect to:

• An explanation of the composition of the non-GAAP financial measure;
• An explanation of how the measure provides useful information to an investor;
• A quantitative reconciliation of the non-GAAP measure to the most directly comparable financial measure.

OSC Staff identified the foregoing issue in the first of several letters to Microbix containing comments with respect to improving company disclosures and ensuring full compliance with the Ontario Securities Act and the many OSC staff notices that provide issuers prescriptive guidance with respect to maintaining compliance with all rules and interpretations associated with the act. In the course of updating all its continuous disclosure documents to fully incorporate and respect staff comments and guidance, Microbix updated the cited investor presentation for its fiscal Q3 2025 results without required additional disclosures related to EBITDA. Microbix's not responding to this particular OSC Staff comment resulted in this news release disclosure.

The revised investor presentation including additional non-GAAP financial measure disclosure can be viewed or downloaded from the investors section of the Microbix website.

Microbix thanks OSC Staff for their constructive commentaries aimed to improve the precision of corporate disclosures by public companies and wishes everyone a happy New Year.

About Microbix Biosystems Inc.

Microbix Biosystems creates proprietary biological products for human health, with over 120 skilled employees and revenues of $18.6-million in its last reported fiscal year (2025). It enables the worldwide commercialization of diagnostic assays by making a wide range of critical ingredients and devices for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs) and reference materials (QUANTDx) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Its antigens drive the antibody tests of approximately 100 diagnostics makers, while QAPs or QUANTDx are sold to clinical lab accreditation organizations, diagnostics companies and clinical labs. Microbix QAPs are now available in over 30 countries, supported by a network of international distributors. Microbix is ISO 9001 and 13485 accredited, U.S. Food and Drug Administration registered, Australian TGA registered, Health Canada establishment licensed, and provides IVDR-compliant CE-marked products.

Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably Kinlytic urokinase, a biologic thrombolytic drug used to treat blood clots, and reagents or media to support molecular diagnostic testing (for example, its DxTM for patient-sample collection). Microbix is traded on the Toronto Stock Exchange and OTCQX, and headquartered in Mississauga, Ont., Canada.

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