INBS

• Acquisition of Intelligent Fingerprinting Limited (IFP) laid the foundation, leading to name change to Intelligent Bio Solutions.
• IFP's fingerprint testing platform is disruptive, with recent contracts from Goldstar Transport, Eastern Airways, etc. It has potential applications beyond drugs of abuse, including diagnostics for various conditions and COVID-19 saliva-based rapid antigen screening test with CE marking.
• Biosensor product has ongoing clinical studies for glucose testing, with preparations underway not impacted by IFP acquisition.
• Construction of state-of-the-art manufacturing facility in Australia aimed at supporting clinical and commercial demand, with anticipation of commencing before end-2022.
• Welcomed new Board members David Jenkins and Jason Isenberg with valuable experience.
• IFP aims to expand into U.S. point-of-care workplace market, with initial FDA interactions favorable and a two-year plan for approval and launch requiring ~$2-3 million funding.

• Plan to enter the U.S. market within two years, targeting a ~$3 billion drug testing opportunity.
• Company's cash, cash equivalents, and marketable securities as of September 30, 2022, are sufficient to cover expenses and capital commitments into the first half of 2023, not incorporating revenue from new IFP markets or glucose North American license option.
• Switching to December 31 calendar year for reporting, with next earnings release to include 2022 full financials incorporating IFP.

The company has product segments including IFP's fingerprint testing platform and the biosensor product. IFP's fingerprint testing is in the global drug testing market estimated at ~$4.6 billion in 2023 with a CAGR of 5.6%, and the U.S. makes up ~75% of this market. The biosensor is a non-invasive saliva-based glucose solution for diabetes. No specific absolute revenue contribution percentages were provided.

• Forward-looking statements involve uncertainties, including ability to develop/commercialize diagnostics, realize partnership benefits, and secure regulatory approvals.
• Risks related to unanticipated events affecting forward-looking statements, and EBITDA being a non-GAAP measure not to be considered an alternative to GAAP measures.

Q: What are the milestones and timeline for IFP in Australia and New Zealand, and when to expect first sales?

A: IFP is working on an end-to-end solution, will bring in demo units, and expects to start seeing sales in the first quarter of 2023. Focus is on increasing client base.

Q: Which regions are easier to approach first and plans for U.S. market?

A: U.S. is the holy grail as it represents 75% of the market, plan is to enter within two years through regulatory requirements. Other regions have shown interest but focus is on U.S. first.

Q: On manufacturing facility, when to anticipate cash flows from grant funding?

A: Grant funding is based on milestones, working on next stage of grant reimbursement, which will be announced once achieved. Cash spent will be replenished as grants are received.

Q: Market for cortisol testing with biosensor?

A: Still analyzing market opportunity, considering non-invasive aspect, but currently exploring if there's a substantial market and if it makes sense to pursue.

Q: Timing for saliva blood correlation study journal article?

A: No immediate publicizing, next update on clinical trials likely in back end of Q1 2023 or early Q2.