Announcement AusPozz Project Preliminary Feasibility Study Zeotech Limited (ASX: ZEO) Zeotech Limited (ASX: ZEO) has released a Preliminary Feasibility Study (PFS) for its AusPozz™ Project, underpinned by its Toondoon Kaolin Project in Queensland (Figure 1), confirming the strong technical and economic potential of Australia’s first metakaolin manufacturing facility for the production of low-carbon concrete additives. The study marks a major milestone for Zeotech’s ambition to support Australia’s decarbonisation efforts and transform the construction materials landscape. Figure 1: Toondoon Kaolin Project map (source: ZEO) Zeotech, Chief Executive Officer, James Marsh commented: “We are excited by the positive outcomes of the AusPozz™ Project PFS, which presents a compelling business case for establishing Australia’s first manufacturing facility dedicated to producing a world-class high-reactivity metakaolin. This advanced supplementary cementitious material (“SCM”) product offers both significant environmental and technical benefits, making it a key enabler in accelerating the transition to low-carbon concrete across a broad range of applications.” “AusPozz™ is well-positioned to become a game changer in Australia’s building and construction materials sector, with the potential to make a substantial contribution to the nation’s net-zero carbon emission targets. We eagerly look forward to advancing the DFS and continue driving sustainable innovation.” What is AusPozz™ Metakaolin? AusPozz™ is a high-reactivity metakaolin, a supplementary cementitious material (SCM) that enhances strength, reduces shrinkage, and improves durability in concrete (Figure 2). It is made by calcining ultra-high purity kaolin from Zeotech’s Toondoon Kaolin Deposit in Queensland. “AusPozz™ is well-positioned to become a game changer in Australia’s building and construction materials sector, with the potential to make a substantial contribution to the nation’s net-zero carbon emission targets. We eagerly look forward to advancing the DFS and continue driving sustainable innovation.” Figure 2: Zeotech's AusPozz™ high-reactivity metakaolin. (source: ZEO) Unlike traditional SCMs such as fly ash (Figure 3) or slag, AusPozz™ is designed to be low-carbon, high-performance, and domestically produced. The proposed facility at the Port of Bundaberg will process 6.23 Mt of kaolin feed over the mine life, supported by nearby infrastructure, utilities, and export routes. Figure 3: Traditional SCM from coal fly ash. (source: ZEO) Key Project Highlights for Zeotech Limited The AusPozz™ PFS outlines a project with robust economics and clear sustainability credentials: Project Cashflow: $1,014 million (after-tax) EBITDA: $1,604 million over the 20-year Life of Mine Net Present Value (NPV8): $406 million after-tax Internal Rate of Return (IRR): 42% Payback Period: 2.1 years Initial Capital Cost: $115 million, with early DSO sales reducing funding needs to ~$95 million Importantly, early revenue from Kaolin Direct Shipping Ore (DSO) reduces upfront capital needs and accelerates the project’s payback. The PFS also confirms AusPozz™ production capacity of 300,000 tonnes per annum, underpinned by a JORC-compliant Measured and Indicated Resource of 10.87 Mt of high-purity kaolinite and plastic clay. From a commercial standpoint, Zeotech has secured strong early interest: 65 active sales/specifier leads MOUs with major industry players: Holcim Australia (for AusPozz™ trials and potential offtake) MSI China (for 950,000 tonnes of Kaolin DSO over five years) Environmentally, AusPozz™ offers a 1-for-1 cement replacement, potentially reducing emissions by 229,800 tonnes CO₂-e per year at nameplate production, equivalent to removing 53,600 petrol-powered cars or powering over 30,860 homes annually. The Road Ahead: DFS and Beyond to a Low-Carbon Concrete Company. With the PFS now complete, Zeotech is preparing to launch a Definitive Feasibility Study (DFS) in Q3 2025, to reach Final Investment Decision in Q1 2026 and achieve full-scale production by Q1 2029. The DFS will advance: Resource definition and expansion drilling Binding offtake agreements Detailed engineering and vendor trials Environmental approvals and Port infrastructure agreements Zeotech also unveiled “Horizon 2” downstream opportunities, including: zeoteCH₄®, a proprietary zeolite targeting landfill methane emissions Animal feed supplements aimed at preventing milk fever in cows These initiatives highlight Zeotech’s long-term vision of becoming a diversified green materials technology company. Next Steps – Summary ✅ Strong Business Case: AusPozz™ offers low-cost, low-risk production with strong market demand and attractive project margins. ✅ High-Quality Resource: The Toondoon Kaolin Deposit contains ultra-high purity kaolinite (>90%), ideal for DSO and metakaolin production. ✅ Scalable Production: The proposed 300,000 tpa AusPozz™ Manufacturing Facility at the Port of Bundaberg is supported by robust infrastructure, with potential for future expansion (Train 2). ✅ Market Readiness: Zeotech has secured 65 active sales leads and MOUs with Holcim (for AusPozz™) and MSI (for Kaolin DSO), signalling strong commercial interest. ✅ Environmental & Social Alignment: The Project supports low-carbon cement alternatives while promoting regional job creation and economic development. ✅ Execution Pathway: DFS to commence in Q3 2025 Final Investment Decision (FID) targeted for Q1 2026 Full-scale AusPozz™ production expected by Q1 2029 Samso Concluding Comments Zeotech’s Preliminary Feasibility Study for AusPozz™ should command investor attention. Seasoned investors will always agree that numbers speak volumes—strong margins, a quick payback period, and scalable market applications. I like that there is an alignment with a global shift toward greener infrastructure. At a time when governments and industries are actively seeking alternatives to traditional cement, Zeotech is positioning itself at the forefront of that transition. The Company’s emphasis on commercial readiness—with active leads and MOUs—reinforces the Project’s viability, not just from a technical perspective but from a real-market demand lens. The backing of Holcim Australia is particularly notable, offering strong third-party validation. In addition, the Project’s location at Bundaberg and its connection to regional development goals enhance its long-term social and economic sustainability. From the market perspective, a market capitalisation of AUD $127M is not a bad place for investors to consider a position. If Zeotech can make this happen, I would see much bigger valuations and numbers in the 8 numbers will easily be achieved. I think the narrative is that Zeotech is not a kaolin play. It’s a transformative move into advanced materials with purpose—one that touches everything from housing to infrastructure, and even animal health in the longer term. That’s a rare blend in today’s resource sector. Cover photo: US Navy 070515-N-0938M-005 Seabees attached to Naval Mobile Construction Battalion (NMCB) 133 pour concrete into a concrete pad located inside the expansion area of Camp Lemonnier, U.S. Navy photo by Lt. Edward Miller. Public domain, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:US_Navy_070515-N-0938M-005_Seabees_attached_to_Naval_Mobile_Construction_Battalion_(NMCB)_133_pour_concrete_into_a_concrete_pad_located_inside_the_expansion_area_of_Camp_Lemonnier.jpg) The Samso Way – Seek the Research At Samso, we always say the best stories are the ones that show the homework. Zeotech (ASX: ZEO) has done exactly that—through validated testwork, independent resource reviews, and detailed planning for both commercial and environmental success. With a strategic product like AusPozz™ and the groundwork in place, this is a story for those seeking growth with substance. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement OpenLearning Signs $155K SaaS Agreement with ECA OpenLearning Signs circa A$495,000 Platform SaaS Agreement With Leading Publisher in the Philippines OpenLearning Limited (ASX: OLL) has announced two strategic SaaS milestones in quick succession, strengthening its presence across both Southeast Asia and Australia. On 1 July 2025, the Company revealed a circa A$495,000 software-as-a-service (SaaS) agreement with CE-Logic Inc., a leading educational publisher in the Philippines. This 3-year usage-based deal will see OpenLearning’s AI-powered Learning Management System (LMS) deployed to support a minimum of 3,000 students in the first year and scaling to at least 20,000 students annually in years two and three. OpenLearning CEO, Adam Brimo, commented “We are delighted to partner with CE-Logic, a respected leader in digital learning solutions in the Philippines. This agreement reinforces the value of OpenLearning’s platform in supporting large-scale education delivery and highlights the increasing demand for flexible, AI-powered learning solutions. With a strong pipeline of opportunities, we are well positioned to support the digital transformation of education throughout the region.” Building on that momentum, OpenLearning has now secured a 5-year SaaS agreement with the Education Centre of Australia (ECA), valued at a minimum of A$155,000 and covering at least 2,500 students per year across ECA’s language, vocational, and professional year programs. These consecutive wins highlight OpenLearning’s growing market traction and underline its ability to deliver scalable, AI-enabled education infrastructure to reputable institutions across key growth regions. Both ECA executives, Sharon Oh and Luciano D’Ambrosi, praised OpenLearning for its scalable assessment tools and capacity to bridge academic learning with real-world application. This customer validation reinforces the platform’s core value proposition: AI-powered, outcomes-driven learning designed for flexibility and scale. Key Highlights – Strategic SaaS Momentum Across Two Regions: An Education Story for a Global Market. OpenLearning continues its disciplined execution strategy, announcing yet another major SaaS partnership—this time with the Education Centre of Australia (ECA)—just two days after securing a significant deal in the Philippines with CE-Logic Inc. The latest agreement with ECA, valued at a minimum A$155,000 over five years, is usage-based and will support at least 2,500 students annually. ECA has selected OpenLearning to power its LMS delivery across three major divisions: 1. ELSIS – A multi-city English language college with a global student base. 2. ECA College – A registered training organisation offering vocational qualifications. 3. ECA Professional Year – A job-readiness program tailored for IT graduates in Australia. This adds to OpenLearning’s momentum in Southeast Asia, where recent SaaS agreements with CE-Logic, two major institutions in the Philippines, total a minimum contract value of A$1.26 million over 3–5 years. Two major institutions have recently signed SaaS agreements with OpenLearning: 1. National University: With 14 campuses and 85,000 students (projected to exceed 100,000), it is now leveraging OpenLearning’s platform. 2. St Paul University: Serving 10,000 students and part of the six-university Paulinian network, it too has adopted OpenLearning’s LMS. This positions OpenLearning as a key digital learning partner in one of Southeast Asia’s fastest-growing EdTech markets. Figure 1: The Philippines – Expansion (source: OLL) Together, these announcements underline OpenLearning’s dual-market growth strategy in both Australia and the high-growth Southeast Asian education technology landscape. Samso Concluding Comments OpenLearning’s recent agreements—with CE-Logic in the Philippines and now with ECA in Australia—paint a clear picture of a company that is executing well. While the top-line figures (A$495k and A$155k minimums, respectively) may not immediately catch the eye of headline-chasers, the significance lies in the architecture of these deals: scalable, usage-based SaaS contracts with reputable, high-volume education providers. The ECA agreement, in particular, deepens OpenLearning’s domestic footprint and signals confidence from a shareholder who understands the platform intimately. It reflects strategic alignment between commercial rollout and stakeholder buy-in—something rarely achieved so seamlessly in the SaaS space. Shareholders and potential investors should see this as an early stage of a flywheel effect. With every new institutional partnership, OpenLearning not only adds revenue but also strengthens its market credibility, which in turn attracts more inbound interest. This is how enterprise SaaS businesses scale sustainably—through trust, delivery, and embedded value. In a sector where many promise growth, OpenLearning is showing how to build it—patiently, transparently, and contract by contract. For investors tuned into the fundamentals, this is a story worth tracking. Is the Market Receptive? OLL is a business that is not a sugar hit with each ASX announcement, as you can see in Figure 2. With a market capitalisation that is below UAD $9M, the story is primed for growth in the next 12 to 18 months. A story like OLL will only attract the broader investor base when they pile up future Saas agreements. Figure 2: OLL share price chart as of the 17th July 2025 since January 2023. (source: commsec) What I like about OLL is, firstly, it's a global business, and in the majority of developing countries, education is still the best form of creating future generational wealth. Investors who do not understand that the majority of the globe does not have the "old money" to help them chase passion, nor governments that are subsidising their pursuit of a hybrid income-generating income. The second is the building of online education. What the majority of developing countries have is a good network of communication and a general sense of maintaining that line of communication to sustain and develop their economies. This will help online businesses as it helps reduce the infrastructure cost that comes with migration to the "Universities". OLL is going to be a slow business, but the speed will start to increase as they rack up more SaaS agreements, as that will give them credibility and economies of scale to fine-tune their business. As usual, DYOR; however, keep OLL on your watch screen. Cover photo: Ohio University Lecture Hall, Garden Sprite. CC0, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Ohio_University_Lecture_Hall.jpg) The Samso Way – Seek the Research OpenLearning’s execution over the past month exemplifies what we at Samso refer to as structured scale-up. These aren’t speculative “tech-for-the-sake-of-tech” announcements—each deal is backed by known institutions with established student pipelines. The ECA agreement is particularly strategic given its alignment with a substantial shareholder (>10% of OLL) and board representation, and it adds an Australian-based growth engine to complement the Philippines expansion. Importantly, these contracts are built on usage-based models with minimum thresholds, offering both downside protection and scalable upside as adoption increases. With three major institutions in the Philippines and now another key partner in Australia, OpenLearning is anchoring itself across both established and emerging markets. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement Lupin Modification Trial Validates Manufacturing Scale Up Wide Open Agriculture Ltd (ASX: WOA) has announced a major technical milestone with the successful completion of a commercial-scale manufacturing trial of its proprietary lupin protein isolate process (BP80F), conducted in the United States. Samso has previously covered WOA's journey in lupin-based innovation, and this latest update continues that narrative of disciplined progress and technical refinement. The results mark a critical advancement in WOA’s goal of becoming a global leader in clean-label, plant-based proteins, offering both operational efficiency and scalability for its lupin protein technology. Key Highlights – Lupin Modification Trial Results ✅ Energy Efficiency Breakthrough: The trial demonstrated up to 80% reduction in energy consumption during WOA’s licensed processing step, achieved while maintaining product quality (Figure 1). ✅ Significant Time Savings: Processing time was reduced by approximately 50%, accelerating the pathway toward more cost-effective large-scale production. ✅ Use of Commercial-Scale Equipment: This was the first time automated, commercial-scale systems—not previously applied to lupin protein—were successfully used, proving the scalability of the technology. ✅ IP Protection via Black Box Configuration: The core processing step was executed in an automated “black box” setup, shielding the proprietary methodology and enhancing IP defensibility. ✅ Enhanced Production Metrics: A comparison with WOA’s German facility showed that the U.S. trial units processed 40L of lupin mixture twice as fast as the four existing units in Germany, while still achieving the required viscosity levels with drastically lower energy input. The trial achieved the target viscosity using 80% less energy and in half the time compared to WOA’s German equipment (Figure 1). The new process is faster, more efficient, and maintains product quality, highlighting strong potential for scalable, commercial production. Figure 1: Comparing Viscosity at various energy input; German Facility vs Trials (source: WOA) Technical Outcomes: Energy & Viscosity A critical marker of success was achieving target viscosity across a broad range of energy inputs. In simple terms, this confirms the robustness and flexibility of WOA’s proprietary technology. These efficiency gains also signal a clear path to lowering both Operating Expenditure (OPEX) and Capital Expenditure (CAPEX), which is vital for future expansion and investor confidence. From Proof-of-Concept to Scale-Up Following this validation: Next Steps include a second trial phase at the WOA’s Grimmen facility in Germany to: Fine-tune process parameters Validate across varying lupin inputs Confirm consistency under real-world production conditions Commercial Integration Underway: Discussions are already taking place regarding financing and leasing of the U.S. trial system to embed into WOA’s infrastructure. This paves the way for efficient, IP-protected production in Europe as demand for lupin protein scales across sectors such as dairy alternatives, functional food, and nutraceuticals. Why This Matters In Delivering Lupin Protein Benefits to the Market? Wide Open Agriculture’s ability to deliver plant-based protein ingredients that are high-performing, clean-label, and sustainable positions the company at the intersection of three fast-growing market trends: sustainability, health-conscious consumption, and alternative protein innovation. The successful outcome of this U.S. trial sends a strong message to the market: WOA is not only innovating, but it is also executing on its scale-up vision, backed by engineering capability and a clear commercial strategy. Wide Open Agriculture Chair, Yaxi Zhan, commented: “Our team has worked tirelessly to optimise and scale our lupin protein technology, and this improvement in efficiency is a critical step forward.” “It demonstrates the strength of our R&D and engineering capabilities, and the information will inform our scale-up plans as our sales pipeline grows.” Wide Open Agriculture CEO, Matthew Skinner, commented: “This milestone sends a strong signal to our customers, investors, and partners that as lupin protein adoption grows, WOA will be able to scale production to meet demand,” Samso Concluding Comments Wide Open Agriculture (ASX: WOA) has taken a meaningful step forward with this manufacturing trial. The results speak clearly—an 80% reduction in energy use and 50% faster processing time, all while maintaining product quality. It is important to note that these are not hypothetical improvements—they are measurable, validated gains in a commercial-scale environment using advanced, automated systems. That is the sort of data that strengthens investor confidence. What’s particularly notable is that these improvements apply specifically to the IP step that underpins WOA’s lupin protein isolate process. By isolating and improving this critical stage, WOA has demonstrated a deep understanding of where efficiency matters most. It’s a smart, focused advancement that aligns with a broader strategy to build a defendable, cost-effective, and scalable production model for plant-based proteins. The inclusion of a “black box” configuration to protect proprietary processes adds another layer of commercial sophistication. It shows that WOA is not only engineering for performance but also thinking about long-term defensibility and licensing potential. As lupin protein continues to gain attention for its clean-label, versatile applications, being able to meet demand at scale—without compromising IP—is a powerful position to be in. For those following food-tech and alternative protein themes, this is one to watch. WOA isn’t just talking about sustainability and innovation—it’s demonstrating it with verifiable progress. The next round of trials in Germany will be important, but if similar results are achieved, WOA may be well on its way to becoming a cornerstone player in the lupin-based protein segment. Seek the data, follow the engineering, and watch how this story unfolds. Cover photo: Wheat harvest on field, U.S. Department of Agriculture. Public domain, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Wheat_harvest_on_field.jpg) The Samso Way – Seek the Research Wide Open Agriculture (ASX: WOA) continues to demonstrate how targeted R&D and proprietary IP can drive real commercial outcomes. This trial result reinforces WOA’s position in the plant-protein sector, not just as an innovator, but as a company executing on scalable, energy-efficient production. For investors seeking substance behind sustainability and food-tech narratives, WOA is offering a clear data-driven case to research further. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso News Samso Insights There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

After writing the last post on Misunderstanding Dementia – A Common Issue, I have developed more passion to share the awareness of Dementia. The response I received were all very complimentary. Interestingly, when talking to people, they are still fixated on the memory loss as the primary symptom. In this post, I want to share on some of my research on the good things that you can do as friends and family of dementia. I find it challenging to write this post as I am never one to dwell on negatives. However, over the years of caring for my parents, I have a great appreciation for the aged care industry. Watching these people who cared for us all those years now become people that do things you are not accustomed to is not pleasant. I don’t think this is anything new as every reader will agree. Cultural Issue To many people still feel the embarrassment and taboo of talking about these topics. I think the ethical side and those from the older generation is very much to blame. I am slowly realising these issues as I speak to more people. I feel that the misunderstanding is a result of not wanting to be associated with the stigma of an illness such as Dementia. It is not due to a lack of understanding of facts… As they say, we immigrants bottle our culture and we take it out and use it as when we see fit. However, the place where we come from has been progressing with time and when we look back, we find that we have indeed been living in a culture that has been stuck in a bottle. When I was trying to get my last post out to the general public, I started to see that there are many associations here in Australia. To my surprise, Malaysia and Singapore had a few too. I should touch on that in upcoming posts. Reading the news from those places made me think that people like me should share our thoughts on this topic. I call my self a “Banana” (Yellow on the outside and white on the inside), and we should help bridge the gap. Life Continues But in a Different Way In my opinion, as bad as this topic is, my parents are still relatively healthy. For example, my mother is now playing mahjong and cards four times a week (when they go to the Chung Wah Community Centre) and she has never played that over the years. She only started playing cards after going to the centre. I cannot speak highly enough about what the Community Center means to us. The staff are great at making the experience fun and comfortable. There are many people with different level of care there and are well cared. I do encourage that friends and family of the aged do check these places out. Another topic for the next blog… 🙂 My parents look forward to going there. They bring their newspaper, snacks (homemade by us :-), and they come back telling us of who they met and what they did…. who did what, who was funny… who was a pain…etc. There was even someone who made Texas style BBQ sauces and they bought some back for us. All of them are living a whole new, different life but they are existing and relatively enjoying their life. Having dementia, as bad as it is, has many positives as well. My mum now plays mahjong and cards… 🙂 Recently, she was also trying to play pool. Community Centre - Willeton Centre. How the Community Centre Works. The great thing about the community centre is that participants get to mingle and mix with together. A van comes in the morning to pick them up between 8:30 and 9 am and takes them back around the 2:30 pm mark. I have been there and they are able to do the following, Group Exercise Play Games such as Mahjong. Not sure if old Asians play scrabble 🙂 Staff are there to encourage communication, They have morning tea, lunch, afternoon tea and even dinner if required. Watch television. The greatest benefit is that they are able to do relatively normal things. They still think of what they want to eat, and respond pretty well to conversations. It may not be what we consider as normal conversations, but it is still a conversation. There are many sad stories but its how you make of a situation. Speaking to a relative who has family in Melbourne last night, there is a lot of people who do not know of these kinds of help. I encourage readers who are in similar situations to seek these kinds of help. Whether you are in Australia or another country, the relief from 24hr care will help maintain good relations. On the occasion, there is an outing that happens and they go to see places. They were taken to go fishing one time too. Now that is a good life. The Inspiring Stories. I felt inspired by a guy in the US who made a documentary about his mother and dementia. The way he goes about doing things shows that you can still have normal conversations, it’s just on different topics. There was a video they went out to have ice cream. When you have acted as a carer, you notice the small things. You say to yourself, wow, we can also do that, now that is a good idea, why did we not think of that….etc Unfortunately, that video is no longer available. In the video you can see the sad side or the encouragement side. I prefer to see a great effort he makes to create a difference in the story. I encourage readers to share their comments and create awareness that there is life even with the discomfort of this illness. There is a video on a Dementia Village that I attached to my post on Dementia, where there was this social worker who had the best attitude in dealing with the awkward behaviours of citizens of the village. I have started the video below at the stage where she was being interviewed, From my experience, I do find that the carers all have this kind of mindset, or at least similar. Having seen a few carers over the years, they are a special breed of people. They give respite to the primary carers and I tell you, it is very appreciated. It also makes life easier. My advice for all carers is to make sure you take full advantage of these services. I appreciate that many of these services may not be affordable for many people but it is worth seeking the alternatives. Personally, the more I learn about the issues, the easier it is for me to deal with situations. It is not about me expressing my assumed knowledge, it is all about sharing that its a work in progress. Some Interesting News – Promising News There is an article talking about that there are ways you can do to prevent Dementia. This was published by The Economic Times, titled Good News: Now, dementia can be predicted 10 years in advance. It quotes research that was done by the University of Copenhagen in Denmark. “If those individuals at highest risk can be identified, a targeted prevention with risk-factor reduction can be initiated early before disease has developed, thus delaying onset of dementia or preventing it,” said Ruth Frikke-Schmidt, a professor at the University of Copenhagen. The study looked at data on 1,04,537 people in Copenhagen, Denmark, and linked it to diagnoses of dementia. Researchers found that a combination of age, sex and a common variation in the APOE gene could identify high-risk groups, with a seven per cent risk for women and six per cent risk for men in their 60s. There was a 16 per cent and 12 per cent risk, respectively, for people in their 70s; and a 24 per cent and 19 per cent risk, respectively, for those aged 80 years and … Dementia Rates Declining? There was one article that I thought was interesting. The article mentioned that researchers found that those who completed high school were less prone to develop symptoms of dementia. They talk about being healthy to reduce cardiovascular issues. Doing this may have some influence on the risk of adopting symptoms of dementia. However, another result showed a rather surprising result. This was that overweight and obese study participants actually had a lower risk of dementia than others. (source: https://www.senioradvisor.com/blog/2017/01/the-good-news-about-dementia-rates-theyre-dropping/) They mentioned that this is still too early to be factual, as other studies connect excess weight with heart disease, which can raise dementia risk. The reasoning may be that the extra weight late in life might offer some protection against cognitive decline. Is It True? To me, that may have some truth. When I recently spoke to a pharmacist he mentioned that in traditional medicine, people are taught that if you have high cholesterol, you must remove it. In fact, that level of cholesterol is the basic building blocks for the other parts of the system. Removing it will dampen that body sequence to develop its own “medicine”. Anyway, I am no medical practitioner but when this was explained, it was really interesting. Here are some facts from a recent search with ChatGPT - July 2025. Declining Age‑Specific Rates in High‑Income Countries A growing number of cohort studies from the Americas and Europe show a 13% drop in dementia incidence per decade over the past ~25 years. In the U.S., the age‑adjusted prevalence among those 65+ fell from roughly 12.2% in 2000 to 8.5% in 2016 — a decline of about one-third. A recent JAMA Network Open study found lower prevalence in more recent birth cohorts—21.2% in the U.S., 38.9% in Europe, and 28.3% in England—compared to older cohorts at the same age. Multi-country data (U.S., UK, parts of Europe) show prevalence dropping significantly across successive generations, especially among women. Global Context & Mixed Signals Globally, the age-standardized dementia prevalence is relatively flat, with only a +0.1% change from 2019 to 2050 (95% UI: –7.5 to +10.8). Worldwide Alzheimer’s disease incidence rates have stayed stable overall, slightly rising in some regions but declining in others . A recent Lancet Public Health review confirmed that age‑specific incidence and prevalence have decreased in many high‑income settings, though results vary, particularly among the very oldest . Why This Happened (High‑Income Countries) ? Factors likely contributing to declines include: Better cardiovascular health: improved treatment of hypertension, cholesterol, and diabetes. Reduced smoking rates. Increased education, building cognitive reserve. Enhanced hearing and vision care, alongside public-health improvements. These "birth cohort" effects mean newer generations enter old age with lower dementia risk Any decrease in dementia rates is good news, not only for seniors and their families, but also for public health. Dementia is the most costly condition a person can face, because it can progress slowly over many years, during which patients require round-the-clock supervision to prevent wandering, falls, and distress. Caring for a loved one with dementia is more than a full-time job, and professional care is expensive. The Alzheimer’s Association says the total cost of caring for people with dementia in the US was $236 billion in 2016. My Research However, my research from the Australian Institute of Health and Welfare show, Global Prevalence & Incidence (Updated July 2025) 57 million people worldwide had dementia in 2021—over 60% living in low- and middle-income countries. Nearly 10 million new cases are diagnosed each year globally. That’s approximately one new diagnosis every 3 seconds Projected Growth The number of people living with dementia is expected to nearly double from 55 million in 2020 to 78 million by 2030, and hit 139–152 million by 2050 A more recent estimate suggests a rise to around 153 million by 2050 . There is a link available to the Australian Bureau of Statistics on Dementia. Whether the rates are increasing or not, the fact of the matter is that people need to care in the best possible way. As the world is going into an ageing period of our history, we are going to see more issues than less. Like everything old, it needs TLC and maintenance is not going to be cheap. I was inspired to write this follow up after talking to a few people who gave me the impression that there was this downhill slope when you have dementia. Life is still worth living and it is up to us who are “normal” to make it as comfortable as possible for them. Also Check For:- Dementia Awareness- A Common Issue of Misunderstanding Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Announcement: Andromeda Achieves HPA Breakthrough A new chapter in the production of high purity alumina (HPA) is unfolding in South Australia, with Andromeda Metals Limited (ASX: ADN) achieving a significant milestone. The company has successfully produced ultra-high-purity 4N HPA using a novel, cost-effective, and low-carbon process. This breakthrough positions Andromeda at the forefront of the global HPA market. Travelling at a market capitalisation of AUD $68M, is Andromeda Metals worth a visit to look at getting into the market? Alpha HPA Limited (ASX: A4N) has a market capitalisation of just over AUD $1B. Purity Confirmed—99.9985% Figure 1 – Andromeda’s end-to-end process for the production of HPA from GWP. Lab-scale testing using refined kaolin from the Great White Project (GWP) resulted in HPA with a confirmed purity of 99.9985%, independently validated by EAG Eurofins USA and CSIRO, Australia's national science agency. This achievement is the result of over seven years of research and development, culminating in a proprietary flowsheet that sets a new benchmark for HPA production. A Cleaner, Smarter Process Andromeda’s novel process avoids many of the high-cost, high-emission steps used in traditional HPA production: No need for hydrochloric acid (HCl) crystallisation or re-leaching at extreme conditions No calcination above 1250°C; the product can be calcined starting from 700°C Estimated 68% reduction in carbon emissions, producing less than 4 tonnes of CO₂ per tonne of HPA compared to 12.3 tonnes from conventional methods Andromeda’s approach combines innovation with environmental responsibility, giving the company a significant edge as global demand grows for low-carbon critical minerals. South Australia’s Renewable Advantage The environmental benefits of Andromeda’s process are amplified by South Australia’s electricity grid, which is powered by more than 70% renewable energy. This offers the potential to further reduce the carbon footprint of HPA production from the Great White Project. A Critical Mineral for Future Technologies High Purity Alumina is an essential material used in: LED lighting Semiconductor manufacturing Lithium-ion battery separators High-tech ceramics and synthetic sapphire According to market forecasts, global demand for HPA is expected to outstrip supply by 45% by 2028. At present, approximately 88% of global HPA is produced using energy-intensive aluminium metal hydrolysis. Andromeda’s kaolin-based process offers a more sustainable and cost-effective alternative. Next Steps for Commercialisation With proof-of-concept now achieved, Andromeda will proceed with: A Scoping Study to assess project economics Customer engagement to refine product specifications and formats Investigating government funding opportunities Development of a pilot plant to test the process at a semi-continuous, industrial scale Executive Perspective Sarah Clarke, Acting CEO of Andromeda Metals, commented: “While our primary focus remains on the Great White Project, the successful production of HPA opens up a high-value, complementary opportunity. Producing 4N HPA at lower cost and carbon intensity compared to traditional processes is a strong proposition for manufacturers. We are excited to work closely with future HPA customers to bring this opportunity to life.” Concluding Comments from Samso Andromeda’s successful test work marks a transformative step towards sustainable, cost-competitive HPA production. With its high purity product, environmentally efficient process, and access to renewable power, the company is well-positioned to enter the growing critical minerals market. Anyone who has been following the Andromeda story would know that Andromeda Metals has been a frequent guest on Coffee with Samso, and there have been a lot of conversations on the myriad of products that come under Andromeda. The current announcement has obviously given shareholders something to cheer about (Figure 2), but the long-term shareholders will be looking for more uplift (Figure 3). Figure 2: Andromeda Metals Limited share price chart from 2023. (source: commsec) The rise and fall of Andromeda Metals have been legendary, but I still think that there are merits that could bring back some glory days, but that is going to take a lot of patience and hard work. Figure 3: Andromeda Metals Limited share price chart from 2020. (source: Commsec) The HPA Conversation The HPA conversation was brief, and at that time, I suppose things were very premature or at a very early stage of any development. This strategic move builds on the strength of the Great White Project and expands its commercial potential. What I like is that this has been a long-term investment, with the release mentioning that this latest work has been over 7 years. The HPA story is really something that is thrown around a lot, and it is very promotive when companies mention it. The ability to produce HPA stock is a fantastic opportunity for companies, especially those in the ASX. My Samso Insight on Alpha HPA Limited, entitled "Exploring the Potential of High Purity Alumina: A Review of Alpha HPA Limited (ASX: A4N)", was really a look at the top end of where companies that are in the HPA sector should be. could be? or is? It is very hard to see where Andromeda could be now because we do not have another example of a story at this level of the business. There are hopeful companies in the HPA market, but I cannot see them making it. As I have mentioned, I have had several conversations with Andromeda in the past 5 years, and I do like what they may have, but I do like to see more substance develop from company announcements. What they currently have in the portfolio does make me think that Andromeda may actually be better, but that may be a reflection of my belief from past conversations, but the reality presently may bring a different outcome. I have not been following the company recently, but this will definitely put them on my radar screen again. As usual, take time to DYOR, and Happy Investing. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Cover photo: Sapphire - Sapphire (corundum), Nessa Eull. CC0, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Sapphire_(GeoDIL_number_-_1432).jpg) Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Coffee with Samso Episode 113: A Samso Exploration Discovery Series This is the first of the Samso Exploration Discovery Series that shares great discovery stories. These series share the thoughts that made the discoveries and the stories that followed. In this first of the series, we have Jon Hronsky OAM, of Western Mining Services telling us about the discovery of the West Musgraves Ni-Cu-PGE district. The West Musgrave Ni-Cu-PGE is more than a discovery as Jon Hronsky OAM puts it, this is a shift in understanding. A paradigm shift in the understanding of mineral exploration. This is a great story of how thinking outside the box brought about a change in looking at discoveries. I loved the idea that it was during this significant time that culminated in a whole new way of looking a finding major deposits. Western Mining was and is still the only company that was a world class explorer who dared to look for the Tier 1 deposits. Funding was not for mining the market but rather for the discoveries that was to be delivered by the geoscientists who were valued and cherished. Another take away from this episode is that the release of geophysical data had helped in the discovery. The whole concept of understanding deep seated structures being a source of mineralisation was only possible with the availability of government released datasets. Jon shared a lot of compelling thoughts on the subject and I got a lot more out of this conversation than I had first thought. One of the most impactful comments was that this discovery was really about creating a paradigm shift in how we look at finding deposits. The shift in world affairs and the major development in Mabo, was the catalyst that had sifted how geoscientist were allowed to think far and wide and was the beginning of how we currently work in mineral exploration. I have included time stamps for the video below: Chapters: 00:00 Start 01:06 The story begins. 01:23 What the discovery meant for mineral exploration. 02:10 Setting the scene for the story. 03:32 A shift in thinking about Nickel Exploration. 04:19 The start of exploring for a Norilsk type deposit. 05:27 The discovery of Voisey Bay Nickel deposit. 06:00 The birth of the new concept of Exploration Exploration. 08:50 The changing of old to new exploration thinking. 11:21 Why the Musgrave was still available. 13:24 The moment West Musgrave became live. 15:05 Was this a Nickel or an Exploration moment. 16:29 What we know now was not in the old days... 17:27 The emergence of digital geophysical database. 19:30 Missing out on Tropicana. 20:36 Exploration activities at the West Musgraves. 21:54 The Rob Waugh Story. 23:17 West Musgrave discovery was the beginning of more discoveries. 25:03 The reasons why good meticulous mineral exploration is valuable. 26:29 Julimar is a product of this early thinking process. 27:55 Where is the next frontier in Australia? 28:24 The greater McArthur Basin, Northern Territory. 30:11 Discovery is all about applying data knowledge. 31:46 The South Australian potential. 33:09 Potential elephants still available. 33:38 Early work is important but commonly not funded. 33:58 The Encounter Story. 34:43 The long gestation period of exploration. 37:28 Conclusion PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). Download our eBook now About Jon Hronsky Jon Hronsky OAM (BAppSci, PhD) Chairman of the Board of the Center for Exploration Targeting in Western Australia Chairman of the Australian Geoscience Council (the peak body for geoscience organisations in Australia) Adjunct Professor at both the University of WA and Macquarie University. Jon Hronsky has more than thirty-five years of experience in the global mineral exploration industry, primarily focusing on project generation, technical innovation and exploration strategy development. He has worked across a diverse range of commodities and geographies, and has particular expertise in targeting nickel sulfide and gold deposits. His targeting work led to the discovery of the West Musgrave nickel sulfide province in Western Australia. His experience includes leadership roles in both major mining and junior mining companies, and he has consulted globally for the last 12 years. In January 2019 he was awarded the Order of Australia Medal for services to the mining industry. Jon is currently Chairman of the Board of the Center for Exploration Targeting in Western Australia, Chairman of the Australian Geoscience Council (the peak body for geoscience organisations in Australia) and an Adjunct Professor at both the University of WA and Macquarie University. He was the 2009 Society of Economic Geology Distinguished Lecturer. Jon joined WMS in 2007. Prior to that, he was Manager-Strategy & Generative Services for BHP Billiton Mineral Exploration and Global Geoscience Leader for WMC Resources Ltd. About Western Mining Services Western Mining Services (WMS) provides the best in geoscientific and risk management advice and services to mineral explorers globally. WMS offers a range of essential services: Advice on exploration strategy development both brownfield and greenfield Review and critique of mineral exploration strategies, plans and programs Assistance with the organisational structures Metallogenic framework and mineral targeting studies that deliver viable greenfield targets Brownfield and near-mine studies and target generation Support for target validation at all scales Technical due diligence and new opportunity analysis Deal terms review and evaluation Commercial risk analysis WMS' proven track record: Over the last 12 years, WMS helped more than sixty companies pursue exploration programs and opportunities globally. The resulting rewards include the largest gold-copper skarn discovery in the Americas and major nickel and gold discoveries in Australia. Over 600 students attended their popular Senior Exploration Management (SEM) Course which, by many accounts, ranks as “one of the best”. WMS offers the SEM Course annually in Perth WA and Denver CO, and also offers the course in-house for clients who want a course tailored to their strategy and exploration program. WMS developed an on-line Senior Exploration Management (SEM) course that tracks in-person SEM Course and that will make excellent, experienced training services more available to exploration groups worldwide. WMS Team is experienced, focused and eager to help achieve the mineral exploration mission. Please contact us, and let’s discuss how we can help. CONTACT JON HRONSKY m/ +61 417992518 e/ jon.hronsky@wesminllc.com w/ https://www.wesminllc.com/ Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

Samso's Reflection on Asia’s Most Ambitious AI Gathering If there’s one event this year that has the potential to redefine the future of artificial intelligence, it’s SuperAI Singapore 2025. From the viewpoint of someone who’s been observing tech events and innovation cycles for decades, SuperAI is not just another glossy tech conference—it’s a statement. What started as a bold initiative is now evolving into Asia’s most critical hub for frontier technology. The upcoming edition, set for 18–19 June at Marina Bay Sands, promises to surpass expectations. With over 7,000 founders, researchers, developers, and investors converging globally, the atmosphere will be nothing short of electric. SuperAI: Where East Meets West in Innovation What sets SuperAI apart is its ability to bridge ecosystems. It’s rare to find an event where Silicon Valley VCs, Beijing AI researchers, Singaporean biotech founders, and European regulators find common ground—not just on stage, but in intimate, practical discussions across three high-powered stages and thematic labs. In the words of Co-Founder Peter Noszek, “We’re seeing genuine hunger for meaningful conversations at the frontier of AI—not just theoretical potential, but real-world implementation.” That hits the nail on the head. The Big Highlights for 2025 🔹 NEXT Hackathon – Fifteen elite developer teams, backed by Amazon, will build AI prototypes that matter. From climate tech to robotics, this is where code meets consequence. 🔹 Genesis Startup Competition – Ten breakthrough AI startups will pitch for a $200,000 prize pool, visibility with top-tier VCs, and growth support via AWS and partner networks. This is the kind of platform that can turn a stealth startup into a household name. 🔹 Curated Programming – With topics ranging from China’s AI acceleration to the creative augmentation of humans by machines, the content isn’t fluff. It’s tactical, visionary, and essential. 🔹 Speakers That Matter – Emad Mostaque, Balaji Srinivasan, Sharon Zhou, Benedict Evans—these aren’t just big names. They’re domain shapers. Expect real talk, deep dives, and maybe a few controversial takes. Branding It Right – A Nod to the SuperAI Brand Kit The team behind SuperAI clearly understands that brand trust is earned not only through vision but also through consistency. The Super AI Brand Kit reflects this ethos—elegantly structured, with dedicated visual and messaging guidelines for both primary and secondary brands. From font selections to hashtag usage, the SuperAI identity is sharp, modern, and international. Whether you’re presenting the Genesis Startup Competition or crafting social media posts for Singapore AI Week, the brand language aligns with the platform's ambition: clean, scalable, and unmistakably future-focused. Samso’s Concluding Comments As the Samso platform moves into the greater market for our platform, we view events such as SuperAI 2025 as a natural place to begin our journey. The Super AI 2025 event, in our opinion, is not just a gathering of techies. It’s a convergence of ambition, capital, and innovation. With global AI investments surging and over 78% of companies integrating AI into their workflows, the timing could not be better. This is where the "AI moment" finds its human face. At Samso, we have seen the struggles of raising funding for mineral exploration over three decades, and in the recent times of introducing AI into the general business cycles, there is no doubt that the future of AI is here to stay. The initial trepidation to embrace AI is an overreaction of misunderstanding and watching too many episodes of "Terminator" type shows. The reality of AI is about enhancing the productivity of businesses. IN some way, it can be said that it will "replace jobs", but I see it as a redistribution of the workforce. The simplistic way to elaborate is the redirection of horses from pulling carriages and the introduction of automobiles. It is the redirection of using fossil fuels to generate energy to the use of renewables and the reintroduction of nuclear power to generate future sources of energy. For start-ups, this is where you build credibility. For corporates, this is where you scout the future. And for thinkers, this is where you challenge your assumptions. To quote Raoul Pal, “Everybody wants to know what's going on in AI. SuperAI is the event to figure it out.” And I couldn’t agree more. SuperAI is no longer the future. It’s the now. 🎟️ GET TICKETS – Secure your spot now for SuperAI Singapore 2025. 🎬 Step Into The Future, Watch Reel – See what’s waiting on the other side. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Cover photo: Front of server racks at NERSC, Derrick Coetzee from Berkeley, CA, USA. CC0, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Front_of_server_racks_at_NERSC.jpg) Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. d their own research.

📍Attending this landmark event on the ground in Singapore SINGAPORE, 18 June 2025 – The Marina Bay Sands has transformed into the epicentre of artificial intelligence innovation as SuperAI 2025 goes live. With over 7,000 attendees, 1,000+ AI companies from 100+ countries, and a sold-out floor of 150+ exhibitors, this year’s edition is not just an event – it’s a signal. A signal that Asia’s role in shaping the AI future is not coming – it’s here. Where East Meets West – And Innovation Takes Centre Stage SuperAI 2025 has cemented its status as Asia’s largest and most influential AI conference. It draws together a cross-section of the global AI community – from frontier startups and policy-makers to investors and researchers – all converging to explore AI's technical, industrial, and cultural impact. This year, a unique blend of global thinkers takes the stage, including: Balaji Srinivasan – crypto and tech visionary Dwarkesh Patel – science podcaster and AI commentator Edward Snowden – speaking on digital sovereignty Tao Cheung (Manus AI) and Felix Shang (Unitree Robotics) – pioneers in applied robotics and agentic AI Nicolaus Radford (Persona AI) and Pippa Malmgren – pushing the boundaries of AI ethics and enterprise integration The NEXT Hackathon and Genesis Startup Competition, held during the conference, are giving rise to the next wave of AI builders with US$250,000 in builder capital up for grabs. AI Across the Stack – From Code to Culture SuperAI offers a full-spectrum view of the AI lifecycle. The immersive workshops, AI labs, and community hubs provide a rare interface between builders and users, funders and thinkers. Whether you're watching robotic art installations, learning to create with the AI Creator Lab by AMD, or exploring AI’s reach into music and media via Mixmag and Tatler, the message is clear – AI is not just technical, it’s cultural. Government stakeholders like IMDA, DISG, and Startup Island Taiwan are also deeply engaged, highlighting the public sector’s rising role in regional AI strategies. A Full House of Ideas – Powered by Global Giants and Startups Alike This year's 150+ exhibitors include names such as: Google Cloud, FuriosaAI, Groq, and AMQ Semiconductor – shaping AI infrastructure Unitree Robotics and Quikbot – pushing autonomous robotics Manus AI and other agentic AI startups – defining how machines act with intent Major sponsors backing this innovation push include: WOW.ai, Auki Labs, WEKA, io.net, Bright Data, and Amazon Web Services (AWS). Looking Ahead: SuperAI 2026 Confirmed With 2025 officially a sold-out success, the next chapter is already in motion. SuperAI 2026 will return to Marina Bay Sands on 10–11 June, promising an even larger footprint, new thematic tracks, and greater AI immersion. 📝 Join the early access waitlist: super-ai.co/singapore-2026 SuperAI is no longer the future. It’s the now. Samso Concluding Comments Events like SuperAI are more than headline makers – they’re inflection points. For those of us attending in person, the tangible energy of 7,000 minds focused on what’s next in AI is simply undeniable. What stands out is the convergence of purpose – from governments to startups, from creatives to coders – all aligned on the urgency and opportunity of this AI moment. At Samso, we see this as a call to action for investors, innovators, and institutions to pay close attention to the signals being sent from platforms like SuperAI. This isn’t about hype – it's about participating in a future that's already arriving. So, whether you’re backing a listed AI company, evaluating a deeptech fund, or curious about where the capital will flow, SuperAI is the kind of ecosystem signal you don’t want to miss. Cover photo: Data center roof, Rsparks3. CC0, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Data_center_roof.jpg) The Samso Way - Seek the Research SuperAI 2025 isn’t just an event – it’s a live pulse check on the global AI frontier. With over 7,000 attendees and 1,000+ companies converging in Singapore, SuperAI showcases where innovation is heading—from real-time robotics and generative tools to public-sector leadership in AI governance. At Samso, we attend events like these because they offer the kind of insight you won’t find in ASX reports or quarterly earnings. This is where the real signals emerge—where investors, builders, and policymakers shape the edge of the AI economy. 🟢 To those who seek clarity in chaos, this is your moment. Be early. Seek the Research. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: · Coffee with Samso · Samso Insights · Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement DY6 Acquires Previous Rutile Mining Site Expanding Project 15 September 2025 DY6 Metals (ASX: DY6) has taken another significant step toward establishing itself as the dominant rutile player in Central Africa. By securing the historically significant Yaoundé West Project, the Company has added a proven production site to its growing Central Rutile Project (Figure 1). This acquisition is more than just additional ground – it represents a strategic consolidation of tenure, a boost to exploration potential, and a rare opportunity to revitalise a district that once made Cameroon the world’s third largest rutile producer. Figure 1: DY6’s Central Project showing the current licences in light blue and the Yaoundé West licences in green. (source: DY6) Key Highlights - Rutile Binding Acquisition Secured: DY6 Metals will acquire 100% of seven contiguous exploration licence applications comprising the Yaoundé West Project in central Cameroon. Proven Production History: Yaoundé West was a major rutile-producing area from 1935–1955, contributing to Cameroon’s status as the world’s 3rd largest rutile producer during that time. Unique in Cameroon: The project area is the only historically recorded site of residual rutile mining in the country. High-Grade Potential: BRGM mapping identified a 70km x 15km zone of residual rutile mineralisation, adjacent to DY6 licences where rutile up to 97.5% TiO₂ has already been reported. District-Scale Landholding: The acquisition expands DY6’s 100%-owned tenure to 8,782km², cementing its dominance in a globally emerging rutile province. Strategic Location: Proximity to Yaoundé city, rail, road, and deep-water port infrastructure positions DY6 with significant development advantages. Exploration Momentum: Systematic soil sampling is underway, with maiden auger drilling planned across the new licences. A Transformational Acquisition DY6’s acquisition integrates the Yaoundé West Project into its existing Central Rutile Project, boosting its project area from 5,901km² to 8,782km². Consideration includes A$1.5M cash, 10M fully paid shares, and 10M performance rights, subject to shareholder approval. CEO, Cliff Fitzhenry, commented: “We are absolutely delighted to have completed the acquisition of the Yaoundé West Project which we firmly believe represents a world class and highly strategic asset. Yaoundé West is particularly significant in that it is the only historically recorded area of residual rutile mining in the country, highlighting its geological significance and proven mineral potential. Its premium land position, combined with unmatched proximity to key infrastructure - including port, rail, and power - provides a major logistical and development advantage. The acquisition process was highly competitive, with several parties pursuing this exceptional asset. Our success in securing it is a strong endorsement of our strategic approach and capability to identify and execute on tier-one critical mineral opportunities. We believe that following this acquisition, DY6 will have a dominant landholding in Central Cameroon, with the expanded Central Rutile Project now comprising 100% ownership of 8,782km2 of premium, highly prospective tenure underpinning this district scale opportunity in an emerging, globally significant rutile province.” Geology and Historical Production. The project is underlain by kyanite-bearing mica schist and garnet paragneiss, the primary source of rutile (Figure 2). In-situ weathering has liberated rutile into an eluvial saprolite layer, forming a deposit style comparable to Sovereign Metals’ Tier 1 Kasiya Project in Malawi – the world’s largest primary rutile deposit. Figure 2: Regional geological map of Central Cameroon showing DY6’s Central Rutile Project and Yaoundé West licences (source: DY6) Historical production between 1935–1955 recorded 15,000 tons of >95% rutile, with Yaoundé West a major contributor (Figure 3). Figure 3: BRGM georeferenced map of high-grade rutile zone (source: DY6) BRGM mapping defined a continuous high-grade zone (70km strike, 15km width), where all historical mining took place (Figure 4). Figure 4: Geological map showing the current Central project licences in black, the Yaoundé West licences in red, and the high grade BRGM mapped rutile zone in grey shade. (source: DY6) As shown in Figure 5, the map highlights a portion of DY6’s Central Project, with the Yaoundé West licences marked in red and the BRGM-defined high-grade rutile zone shaded in grey. Figure 5: Map showing a portion of the current Central project licences in black, the Yaoundé West licences in red, and the high grade BRGM mapped rutile zone in grey shade. (source: DY6) Strategic Location and Infrastructure Advantage Yaoundé West is within 20km of Cameroon’s capital, Yaoundé, with sealed multi-carriageway highway access and rail running through one of the licences. Its proximity to the deep-water port of Douala (200km) enhances logistics for future development (Figure 6). Figure 6: Central Project & Yaoundé West Licences with Rail Access (source: DY6) Next Steps DY6 will expand its systematic soil-sampling program across the new licences, paving the way for maiden auger drilling campaigns. The company continues to position itself as the dominant rutile explorer in Cameroon, with 11,362km² of combined tenure across its Central Rutile and Douala Basin HMS Projects. Samso Concluding Comments This release is all about DY6 building a landholding to participate in what could be a globally significant rutile province. The acquisition of a project with a proven production history will provide some geological validation and set DY6 for advanced-stage exploration. The presence of historical production is a good indicator, and I am sure that will help in some clarity on the potential prospectivity of the region. It is good to know that the DY6 project is in close proximity to road, rail, and port, which will be a decisive advantage when it comes time to develop a project at scale. What is clear is that ASX companies with projects in Cameroon will work through their projects over the next 12 months, giving investors a good choice of positions to take when the dust settles. As always, the next phase will be all about the data – systematic sampling and auger drilling will provide the hard numbers needed to quantify this opportunity. Cover photo: Rutile - Rutile, Nessa Eull. CC0, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Rutile_(GeoDIL_number_-_1567).jpg) The Samso Way – Seek the Research At Samso, we cut through the headlines to find the real story. Context, geology, and strategy matter — always do your own research and see how the results fit into the bigger picture. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement DY6 to Commence Follow-up Exploration at High-Grade Gallium & REE Projects in Malawi 10 September 2025 DY6 Metals Ltd (ASX: DY6) is advancing exploration at its gallium and rare earth projects in southern Malawi, a move that comes at a time when global demand for critical minerals is intensifying. The upcoming sampling programs at Tundulu and Machinga are designed to build on high-grade results already reported, positioning the Company to unlock further value in strategically important commodities (Figure 1). Figure 1: Tundulu Project Location Map and Historical Drill Hole locations over Nathace Hill (source: DY6) Key Highlights Tundulu Project: 75 soil and rock chip samples planned to build on the discovery of high-grade gallium mineralisation (up to 310.46 g/t Ga₂O₃ and 5.68% TREO). Only 40% of the prospective area has been drill-tested, leaving significant upside potential. Machinga Project: 116 soil and rock chip samples to be collected across a 400m x 200m grid, targeting strong radiometric anomalies. Maiden RC and diamond drilling (2023) confirmed high-grade continuity, including 15.1m @ 1.01% TREO and 0.36% Nb₂O₅. Exploration Strategy: Both projects remain underexplored, with DY6 focused on expanding gallium, rare earth, phosphate, and niobium footprints in southern Malawi. CEO Comment: DY6 sees significant potential to expand critical metal resources at a time of growing demand for gallium, REEs, and niobium. Tundulu Rare Earth, Phosphate & Gallium Project The Tundulu Project continues to show strong promise with historic drill results highlighting high-grade gallium mineralisation. Drill intercepts include 25m @ 64.63 g/t Ga₂O₃ and 1.03% TREO from 45m (TU008), and up to 310.46 g/t Ga₂O₃ with 5.68% TREO from 97–98m (TU043). The upcoming programme will target untested areas (~60%) while verifying historic surface results through carefully planned sampling lines (Figure 2). Figure 2: Proposed Sampling Points and Gallium Zones at Nathace Hill (source: DY6) Machinga HREE & Niobium Project At Machinga, recent rock chip and soil sampling outlined a 2.7km-long geochemical anomaly, providing strong follow-up targets (Figure 3). Previous drilling confirmed mineralised zones correlate strongly with radiometric anomalies, underpinning confidence in targeting higher-grade areas. Upcoming work will collect 116 samples across a new southern licence area (EL0705) to refine targets for future drilling. Figure 3: Planned Sampling Points over Machinga Anomaly (source: DY6) DY6 Metals CEO, Cliff Fitzhenry, commented: "Previous identification of high-grade gallium mineralisation at Tundulu presents a unique opportunity for DY6 to advance a critical metal alongside rare earths and phosphate. With only a portion of the licence area tested to date, we see significant potential to expand the footprint of gallium and rare earth mineralisation across both Tundulu and Machinga. The upcoming sampling programs are designed to build on our recent successes and to further define high-value targets for follow-up drilling. Importantly, our initial work at Machinga has already confirmed excellent grade continuity, giving us confidence in the growth potential of these projects. We are excited to be advancing exploration in Malawi at a time when demand for critical metals is forecast to grow strongly”. Samso Concluding Comments For DY6 Metals, the significance of these results lies in the dual opportunity presented by gallium and rare earth elements. Gallium’s strategic role in semiconductors and defence technologies aligns with the global narrative of critical mineral supply chains, while the REE and niobium potential further enhances project value. The upcoming sampling campaigns are not about proving a concept but expanding a foundation that already demonstrates grade, scale, and continuity. Malawi remains underexplored, and DY6’s methodical approach to verification and expansion could well position the Company within a broader critical minerals framework. The market narrative for gallium and REEs continues to build, and it will be good for investors to watch if DY6 can transform early promise into resource definition. This is an example of exploration where the upside is measured not only in discovery but in timing, with global demand curves aligning strongly with DY6’s project pipeline. The Malawi jurisdiction issue is going to hang over DY6 and its projects in the country, and this will weigh heavily on investors' thinking; however, a Gallium discovery of significance will put DY6 in a good position. The question of DY6 making a Gallium discovery of significance will be the hot topic. With the rutile story in Cameroon and the Malawi projects, one will have to hope that a focus will begin to develop sooner rather than later. I can appreciate what management is trying to do, but we all know that the market is always right and it is a simpleton.. It likes simple stories. As always, at #SamsoNews, we remind readers that opportunities in the exploration sector carry both risk and reward. DY6’s current work illustrates how exploration success is built — methodically, through data, geology, and persistence. The results of these upcoming campaigns will provide important signals as the story unfolds. Cover photo: Rareearthoxides, Peggy Greb, US department of agriculture. Public domain, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Rareearthoxides.jpg) The Samso Way – Seek the Research Facts first, context always. Map the geology to the strategy, verify the numbers, and decide only after your own research. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement Ryoncil Launch Highlighted at Global Healthcare Conferences 15 September 2025 Mesoblast Limited (ASX: MSB; Nasdaq: MESO) has highlighted the successful commercial launch of its flagship therapy, Ryoncil® (remestemcel-L-rknd), at two major global healthcare conferences—Morgan Stanley and Cantor Fitzgerald’s Annual Global Healthcare events in New York. This milestone underscores Mesoblast’s position as a global leader in allogeneic cellular medicines for inflammatory diseases. Mesoblast’s mesenchymal precursor/stromal cells are activated by multiple inflammatory cytokines through surface receptors, triggering a coordinated anti-inflammatory cascade (Figure 1). This response modulates key immune players — including T-cells, NK cells, macrophages, dendritic cells, and B-cells — while suppressing pro-inflammatory cytokines (IL-1, IL-6, TNF-α, IFN-γ). The result is a restoration of immune balance and reduction of tissue damage caused by excessive inflammation. Figure 1: Platform Technology – Shared Mechanism of Action (source: MSB) Key Highlights - Allogeneic Cellular Medicines Mesoblast’s Chief Executive, Silviu Itescu, reaffirmed the momentum behind the first quarter launch of Ryoncil®, noting that product sales for the treatment of pediatric steroid-refractory acute graft-versus-host disease (SR-aGvHD) were consistent with expectations and reflected in the company’s full-year earnings report. He stressed Mesoblast’s commitment to onboarding additional treatment sites and driving broader adoption of the therapy across clinical networks. Dr. Itescu also provided a forward-looking view of Mesoblast’s pipeline, detailing the company’s strategy to expand Ryoncil® into adult SR-aGvHD and biologic-resistant inflammatory bowel disease (IBD). He highlighted that key Phase 3 milestones for the company’s next-generation candidate, Rexlemestrocel-L, are approaching—programs that target heart failure and chronic low back pain, potentially adding significant value to the company’s clinical and commercial outlook (Figure 2). Figure 2: Phase 3 Data Show Durable Pain Improvement with Rexlemestrocel-L (source: MSB) Expanding Pipeline and Reach Expanding Patient Access: Additional sites are being onboarded to increase therapy availability and support broader patient adoption. Pipeline Expansion (Figure 3): New indications are being pursued in adult SR-aGvHD and IBD. Rexlemestrocel-L Phase 3 programs are progressing toward major milestones. Figure 3: Pipeline development chart including Ryoncil® and Rexlemestrocel-L (source: MSB) Global Commercial Footprint: Mesoblast’s reach extends to Japan, Europe, and China, underpinned by an IP portfolio of more than 1,000 patents or applications, protecting at least 2041. About Mesoblast Mesoblast is a world leader in developing allogeneic (off-the-shelf) mesenchymal lineage cellular medicines. Its therapies work by releasing anti-inflammatory factors to modulate the immune system and reduce damaging inflammation. Ryoncil® is the only FDA-approved MSC therapy for pediatric SR-aGvHD in children as young as two months. Proprietary manufacturing processes enable large-scale production of cryopreserved, off-the-shelf therapies with stringent release criteria, ensuring consistent quality and patient accessibility worldwide. Financial Highlights – Year Ended 30 June 2025 Revenue Growth: Total revenue from cell therapy products was US$17.2 million, up 191% from FY2024. Growth was driven primarily by the successful commercial launch of Ryoncil®, generating US$13.2 million in gross sales and US$11.3 million net sales after a 14.6% gross-to-net adjustment. Operating Expenditure: Net operating cash spend: US$50.0 million, a modest 3% increase year-on-year, reflecting investment in commercial team build-out and product launch activities. Cash Position: Cash on hand: US$162 million (A$247 million) as of 30 June 2025. Provides a solid foundation to support ongoing commercial rollout and clinical development programs. Next Steps Mesoblast is focused on: Expanding clinical site coverage to broaden Ryoncil® access. Advancing pivotal trials for adult SR-aGvHD and IBD indications. Progressing Rexlemestrocel-L toward regulatory milestones for heart failure and chronic low back pain. Samso Concluding Comments This update from Mesoblast- the commercial traction of Ryoncil® validates years of R&D investment and provides the foundation for revenue growth. Importantly, the ongoing expansion into new indications such as IBD and adult SR-aGvHD opens a much larger addressable market. From an investor’s perspective, the approaching Phase 3 readouts for Rexlemestrocel-L will be key catalysts to watch. The combination of a strong IP portfolio, global partnerships, and scalable manufacturing positions Mesoblast to remain a leader in cell therapy. For the sector, this serves as another signal that cellular medicines are transitioning from promise to practice, with tangible commercial outcomes. As always, investors should look beyond the headline announcements and review the underlying numbers, clinical progress, and commercial uptake to form their view on Mesoblast’s long-term potential. Cover photo: Apparaat voor electrocoagulatie 2, Mx Lucy. CC0, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Apparaat_voor_electrocoagulatie_2.jpg) The Samso Way – Seek the Research Facts first, context always. Map the science to the strategy, verify the clinical and commercial milestones, and make decisions only after your own research. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement 18 September 2025 Proteomics granted certification for Diagnostics Laboratory 27 Aug 2025 Annual Report to Shareholders Proteomics International Laboratories Ltd (ASX: PIQ) has been granted ISO 15189 certification for its Australian laboratory operations – a key milestone that cements its role as a leader in precision diagnostics. This certification validates the company’s systems, processes, and quality management, ensuring accurate and dependable clinical results. This certification is more than a tick-the-box moment — it is the green light for the national roll-out of PromarkerD and PromarkerEso. Building on PIQ’s status as one of the world’s most accredited protein testing laboratories — with ISO 15189, ISO 17025, and ISO 13485 certifications — it delivers the quality and clinical confidence needed to drive adoption and future partnerships (Figure 1). This announcement marks a major step forward in PIQ’s commercialisation journey. Figure 1: Certification & Credibility (source: PIQ) Key Highlights - The Business of Precision Diagnostics. ISO 15189 Certification Granted – covering clinical testing services, supporting the commercialisation and clinical use of Proteomics International’s suite of precision diagnostic tests. Strengthens Global Standing – affirms Proteomics International’s position as one of the world’s leading laboratories for proteomics and protein-based testing services. Platform for Growth – enables offering of emerging precision diagnostics and specialist pathology tests. Aligned with Strategic Roll-Out – builds on ISO 17025, ISO 13485, and CLIA certifications, strengthening the national roll-out of PromarkerD (launched 20 August) and PromarkerEso (launched today) (Figure 2). Figure 2: PromarkerEso (source: PIQ) Proteomics International Managing Director Dr Richard Lipscombe commented: “The clinical certification supports our strategic growth trajectory as we advance the commercialisation of our first-in-class diagnostic tests for diabetic kidney disease, esophageal cancer and endometriosis. This certification also cements Proteomics International's position as a leading innovator in precision diagnostics and provides a platform for us to offer more specialist pathology testing in future.” Strategic Impact This milestone is more than just compliance – it opens doors to new revenue streams and positions Proteomics International at the forefront of the precision medicine market. Figure 3: Go-to-Market Optionality illustrates the company’s dual commercialisation pathways — the direct-to-consumer and digital marketing pathway, and the traditional licensing model — both of which are now underpinned by ISO 15189 certification. This assurance gives clinicians, regulators, and payers confidence that PIQ’s diagnostic results are reliable, creating the trust required to accelerate adoption and monetisation. Figure 3: Go-to-Market Optionality: Synergistic Pathways (source: PIQ) About Proteomics International Proteomics International Laboratories (PILL) is a Perth-based medical technology company specialising in proteomics – the large-scale study of proteins (Figure 4). Figure 4: The power of proteins (source: PIQ) Its mission is to improve lives through innovative tools that enhance disease detection and treatment (Figure 5). Figure 5: Predictive Diagnostics (source: PIQ) IDENTITY: Proteomics International is a medical technology company specialising in predictive diagnostics and advanced analytical services using proteomics - the industrial-scale study of the structure and function of proteins. MISSION: To improve the quality of lives by the creation and application of innovative tools that enable the improved treatment of disease. VISION: To help create a world where disease is detected early and cured simply. The Power of Early Detection (Figure 6) Early detection finds disease in its earliest stages, allowing earlier and more effective treatment. Many diseases go undiagnosed early due to limitations of diagnostic tools and silent symptoms. Government screening programs (e.g., the National Cervical Screening Program) show how early detection reduces illness and death. NCSP invites women aged 25–74 for HPV testing every 5 years, preventing up to 95% of cervical cancers. Since its introduction in 1991, NCSP has halved cervical cancer incidence and placed Australia on track to eliminate cervical cancer by 2035. Development of innovative diagnostic technology is key to improving early detection across other diseases such as breast cancer, lung cancer, cardiovascular disease, and dementia. Figure 6: The Power of Early Detection (source: PIQ) Samso Concluding Comments This could be a defining moment for Proteomics International (PIQ). The achievement of ISO 15189 certification is not simply an operational milestone — it is the foundation for commercial success. For investors, this means PIQ’s diagnostic tests can be rolled out with confidence, knowing they meet the strictest global standards for clinical accuracy. The combination of PromarkerD and PromarkerEso, now being offered under certified conditions, means that PIQ has entered a new phase of execution and market adoption. This is when investors start to look for metrics — such as the number of tests conducted, clinics onboarded, and revenue growth — to measure traction. From a strategic perspective, this certification unlocks PIQ’s ability to partner with other test developers, potentially broadening its revenue mix and cementing its reputation as a precision diagnostic hub. Has PIQ de-risked the path forward and is now positioned to convert its scientific achievements into sustainable, scalable commercial outcomes? Cover photo: Army scientist finds research illuminating (27290265015), U.S. Army RDECOM from Aberdeen Proving Ground, MD, USA. Public domain, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Army_scientist_finds_research_illuminating_(27290265015).jpg) The Samso Way – Seek the Research Always look beyond the headline. ISO 15189 is a gateway to market adoption, but the real test will be how rapidly PIQ converts this into clinical uptake and revenue. Watch for quarterly updates on PromarkerD and PromarkerEso adoption and monitor the pipeline for the next test candidates. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.