{"id": "chunk-sec-about-this-annual-report", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["Annual Report 2026", "About this Annual Report"], "heading": "About this Annual Report", "text": "This report covers Tetratherix's* operations, activities and financial performance for the year ended 30 June 2026, a milestone year where our platform matures and that sees our flywheel in full motion.\n\nAs always, we do not take our shareholders' investments for granted. We regard ourselves as custodians of that capital, and we run the Company with the financial hygiene that demands: every dollar is deployed deliberately against milestones we have committed to. That discipline funded a year of substantive progress - our first full FDA submission for Bone Regeneration, the development of an entirely new franchise in Precision Medicine, our first licence payment from a commercial partner, and a growing body of clinical trial data that continues to build strong validation of the Tetramatrix™ platform across indications.\n\nThe Tetratherix flywheel is in motion, it is being further boosted by the native incorporation of AI across our developments, manufacturing and operating systems.\n\nThis year we have also produced the report in an agent-ready form. Alongside the designed document, the content has been structured so that it can be read accurately by AI systems: sections sit under consistent, semantically labelled headings; product, entity and franchise names follow a single controlled vocabulary; figures carry explicit units, currencies and reporting periods; and tables are preserved as structured data rather than as images.\n\nOur intention is that investors, analysts and partners using AI tools to interrogate this report receive answers grounded in what we have actually reported, with fewer transcription errors and less risk of misinterpretation. An AI friendly version of this report is accessible at https://reports.tetratherix.com/\n\nThis report provides information on matters that we believe could materially affect value creation at Tetratherix. The Board has collectively identified and prioritised the material issues for inclusion in this report. In this report, we present the identified material information through a structured narrative.\n\nWe review who we are and how we create value through our technology and business model. We report those matters significantly impacting value and outline our strategy, performance, and outlook to ensure long-term value creation and patient impact. The Board will continue to engage with key stakeholders and consult with them on matters that interest and impact them and update the market when necessary. Our ARC verifies the integrity of each periodic report before release, with the Financial Statements and Remuneration Report independently audited.\n\nReferences in this report to a ‘year’ or ‘this year’ are to the financial year ended 30 June 2026 (previous corresponding period to 30 June 2025) unless otherwise stated. All years are financial years ending 30 June unless otherwise stated. All dollar figures are Australian dollars (AUD) unless otherwise stated.\n\nNexia has conducted an independent audit of the Financial Statements and Remuneration Report. A copy of Nexia’s audit report is contained in this annual report.\n\n* references to ‘Tetratherix’, ‘TTX’, ‘the Company’, ‘the Group’, ‘we’, ‘us’ and ‘our’ refer to Tetratherix Limited (ACN 607 771 077 ) and its subsidiaries, unless otherwise stated.", "table_ids": [], "figure_ids": [], "page_start": 2, "page_end": 2, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "2", "printed_page_end": "2", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-an-introduction-to-tetratherix", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["Annual Report 2026", "An Introduction to Tetratherix"], "heading": "An Introduction to Tetratherix", "text": "We are an Australian biomedical technology company, founded in 2015 as an advanced manufacturing and intellectual property-generating entity in the biomaterial and regenerative medicine space. At our core is our flagship Tetramatrix™ platform technology.\n\nWe commercialise multiple products derived from our Tetramatrix™ platform technology through a flywheel model in which our established foundational intellectual property, safety, efficacy, and streamlined manufacturing processes facilitate the rapid and efficient development of products in different fields of medicine.\n\nWe have been building this Company and its platform technology for 15 years, having started the journey as a PhD thesis at the University of Sydney. The founders and inventors of the technology continue to control and drive the company towards its mission.\n\nThe platform technology allows for multiple parallel commercial opportunities, with the first generation of products will be launching into global markets in FY27, representing an exciting inflection point in the TTX journey.", "table_ids": [], "figure_ids": [], "page_start": 3, "page_end": 3, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "3", "printed_page_end": "3", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-our-tetramatrix-platformtechnology", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["Annual Report 2026", "An Introduction to Tetratherix", "Our Tetramatrix PlatformTechnology"], "heading": "Our Tetramatrix PlatformTechnology", "text": "Tetramatrix™ is a biostealth fluid technology engineered to transition at physiological temperature and form a tissue-adhering 3D matrix after delivery. Designed as a single platform it can be adapted to distinct derivatives for different tissues, indications and delivery requirements without reinventing the underlying system each time.", "table_ids": [], "figure_ids": [], "page_start": 3, "page_end": 3, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "3", "printed_page_end": "3", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-table-of-contents", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["Annual Report 2026", "Table of Contents"], "heading": "Table of Contents", "text": "1 2026 in Review 5\n\n2 Our Company 22\n\n3 Directors’ Report 43\n\n4 Auditor’s Independence Declaration 86\n\n5 Financial Report 88\n\n6 Additional Information 147", "table_ids": [], "figure_ids": [], "page_start": 4, "page_end": 4, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "4", "printed_page_end": "4", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-letter-from-our-chair", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["01. 2026 in Review", "Letter From Our Chair"], "heading": "Letter From Our Chair", "text": "Dear Shareholders,\n\nIt is with great pleasure that I present the Annual Report for Tetratherix Limited for the financial year ended 30 June 2026.\n\nThis year has been a period of continued progress and relentless execution. We moved from being a newly listed company to an organisation delivering on the commercial, clinical, technical and operational goals we set when we listed on the ASX in June 2025. We achieved significant milestones across our key product areas and continued to strengthen our organisation to support long-term, sustainable growth.\n\nFY26 was marked by important progress on several fronts. We completed our first full FDA dossiers including performance and safety testing for our dental and orthopaedic bone regeneration products for initial market launch in the US.  Within Tutelix, our injectable spacer for radiation oncology, we successfully completed the first insertion of the device into a human patient and progressed to stage 2 of the clinical study, alongside completing an early-stage meeting with the FDA to discuss our regulatory pathway. TetraDerm, our product for surgical scar reduction, completed its first patient cohort and progressed through a second, with the third and final cohort set for completion in CY26. We also introduced our new Precision Medicine franchise and reached a major technical milestone in nasal drug delivery. Together, these achievements validate our work and will help us accelerate our commercialisation plans across our key product areas, while we continue to invest in research and development.\n\nWe also made considerable progress building long-term partnerships. We finalised our exclusive global quality and supply agreement with Henry Schein, Inc., one of the world's largest medical distributors, and signed our Superpower Health Inc. research and development agreement, which secures us a licence payment of US$3 million a year for up to ten years, along with expected sales of our polymer technology. We signed an exclusive licensing agreement with BioOptix, Inc., which has itself partnered with Alcon Research, and our Tutelix joint venture accelerated its major clinical trial program following its first round of external investment. We also progressed discussions with several potential partners in orthopaedic bone regeneration for our TegenEOS product. These outcomes reflect the hard work of our entire team and give us confidence that key stakeholders believe in our mission.\n\nFinancially, we directed investment towards research and development, digital systems and production capability, supported by more than $20 million in additional funding beyond what we originally forecast at IPO. This included a $15.6 million capital raise in May 2026 (before costs), a $3.3 million IGP grant to be received over two years, and $4.2 million in licence revenue from our Superpower agreement. We ended the year with $34.4 million cash and cash equivalents on hand and recorded a net loss of $9.3 million. This loss reflects our capital light model, continued investment in research and development and in our advanced manufacturing capability, offset in part by our first year of licence revenue and supplemental income from our additional capital raise and IGP grant.\n\nLooking ahead to FY27, our objectives remain clear and our key priorities are:\n\nSecure FDA 510(k) approval for our Bone Regeneration products; Begin our first commercial production and sales for our Bone Regeneration franchise and STEPP - our nasal drug delivery product; Sign a strategic partnership agreement for TegenEOS, our orthopaedic product; Progress clinical trials for Tutelix, our oncology spacing product, through our joint venture; Advance pre-clinical trials and complete technical reporting for Optimatrix, our ophthalmic product; Complete our advanced manufacturing campus and relocate our company headquarters; Recruit and onboard new team members across our digital, production and customer success teams; and Commence tracking patient impact following our first product sales.\n\nWe would like to thank our entire team for their dedication, without which none of these achievements would be possible. We also thank our partners and shareholders for their continued support and belief in our vision.\n\nWe are excited about the journey ahead and remain committed to finding new possibilities in life sciences. Our mission remains the same: to use our Tetramatrix™ platform technology to expand healthcare access, improve equity in global health, and deliver better outcomes and real, positive impact for patients.\n\nYours sincerely\n\nEmma", "table_ids": [], "figure_ids": [], "page_start": 6, "page_end": 6, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "6", "printed_page_end": "6", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-ttx-timeline-15-years-in-the", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX Timeline — 15 Years in the Making"], "heading": "TTX Timeline — 15 Years in the Making", "text": "", "table_ids": ["tbl-curated-p7-ttx-timeline-15-years-in-the-making"], "figure_ids": [], "page_start": 7, "page_end": 7, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "7", "printed_page_end": "7", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-01-58-growth-in-patient-impact", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["2026 Highlights", "01. 58% Growth in Patient Impact"], "heading": "01. 58% Growth in Patient Impact", "text": "Patient Impact Score FY26\n\nPatient impact is how we measure our success.\n\nThe Tetramatrix™ platform has now been used across multiple clinical trials, with more than 75 patients treated to date, and that number is set to grow considerably once we reach market clearance in 2026.\n\nAcross the year the TetraDerm clinical trial advanced into cohorts 2 and 3, with major wounds now being treated and with strong indications of performance in reducing scar formation. The Tutelix pilot trial was completed with 15 patients treated, recording no adverse events to date, outstanding clinical usability outcome and space generating capability. HREC approval was granted for the Tutelix pivotal trial towards the product clearance with the FDA.\n\nA. Tutelix First In Human Success\n\nThe FIH clinical trial for Tutelix product was initiated and all planned 15 patients completed their treatment with no product related adverse event. The product administration was successfully completed for all patients across two sites in Australia. The visibility of the product during its deployment provides a safe and easy to use product for the clinicians while the mechanical performance of the forming hydrogel and its “lift” strength formed an homogeneous space anatomically between prostate and other tissues.\n\nNeedle insertion and visible under ultrasound, close to rectum wall\n\nProduct deployment / injection visible under ultrasound\n\nProduct generates space between rectum wall and prostate\n\nSpace generation between prostate and rectum to reduce / minimise cross over area between radiation zone and rectum\n\nProduct visible under MRI at t=0 and absorbs water at t=3 months and starts resorbing after t=6 months\n\nProduct displayed an outstanding structural stability at the injection site for 3 months. MRI results displayed “water intake” at this time point which is a prerequisite for over time hydrolysis and resorption of the injected structure. The uniformity of the structure and its stability for at least 3 months can provide solid basis to expand the application of the technology for pelvic cancer.\n\nB. TetraDerm Clinical Trial Progress\n\nTetraDerm clinical trial progressed in two sites in Australia. The results from the unblinded cohort 1 showed strong indications of efficacy for the technology to reduce scar formation. No report of inflammation, seroma formation and no report of hypertrophic scarring are all aligned with the expected mode of action for TetraDerm.\n\nVisible scar site at t=0 (post-operation) and its gradual reduction in later time points\n\nOldest patient treated in the trial with VSS of <1 at all time points\n\nRelatively large wounds with no healing issues observed\n\nCohort 2 recruitment with 18 patients completed and significant progress has been achieved in cohort 3 that involves up to 1.5 m wounds after breast augmentation, belt lipectomy and other major surgeries.\n\nNo reports of seroma formation in any of the treated wounds\n\nNo reports of inflammation from 2 weeks onwards in any of the patients", "table_ids": [], "figure_ids": [], "page_start": 9, "page_end": 11, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "9", "printed_page_end": "11", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-02-first-revenues-of-4-2m", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["2026 Highlights", "02. First Revenues of $4.2m*"], "heading": "02. First Revenues of $4.2m*", "text": "$4.2m in revenues from Tetramatrix™ commenced in 2026\n\nReaching the commercial inflection point. Tetratherix is now a revenue generating business, having made the transition from a research and development house to a commercial entity.\n\nThis first revenue is an annual licensing fee that gives a single partner access to our intellectual property, and it establishes a model we can extend as further partners are added across the entire platform. Supply of the Tetramatrix™ platform polymer will build on this base, adding a second stream to our revenue-generating potential.\n\n*The $4.2 million licence revenue is being recognised on a straight-line basis over the 12-month period from April 2026. Of this, $0.9 million has been recognised in the FY26 P&L, with the remaining $3.3 million to be recognised in FY27.", "table_ids": [], "figure_ids": [], "page_start": 12, "page_end": 12, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "12", "printed_page_end": "12", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-03-completed-first-fda-submission", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["2026 Highlights", "03. Completed First FDA Submission"], "heading": "03. Completed First FDA Submission", "text": "A significant regulatory milestone met. In 2026 Tetratherix completed its first full FDA dossiers, covering the performance and safety testing for our dental and orthopaedic bone regeneration products ahead of their initial market launch in the United States.\n\nThe submissions were completed on the back of multiple pre-submission meetings with the FDA and draw on 27 internal reports, the full suite of ISO 10993 preclinical safety studies, and two large- animal performance studies. Completing this work sets the regulatory flywheel in motion and makes each future submission easier to prepare. It is a licence to hunt and the beginning of a longer journey.\n\nFDA submission Data Read out\n\nAs a novel platform material, and to enable effective and efficient motion of our flywheel for our current and future FDA submissions, we went above and beyond to confirm the safety of our polymer platform per ISO10993. An independent review of data with a biological safety scientist and a principal toxicologist in the US concluded that the platform is safe as a weight-of-evidence from numerous In vivo studies demonstrated no evidence of irritation, sensitisation, systemic toxicity, genotoxicity, pyrogenicity or carcinogenecity from the platform.\n\nThe results from these clinically relevant models confirmed that Tegenix: (a) acts as an effective carrier for any type of bone grafts (animal or human-derived) to enhance their usability and handling; (b) supports natural healing with no inflammatory/ foreign body reaction to Tegenix and (c) provides a 3D matrix to hold them in place to enable cellular ingrowth and activation. The impact was more evident where adhesivity of Tegenix matrix play an important role (for example in upper jaw).\n\nFDA submission Data Read out\n\nThe sites were integrated with the host tissue, and the Tegenix treated sites demonstrated the product’s  proposition, allowing bone ingrowth within the grafted site, leading to greater bone volume.\n\nTegenix site Control site\n\nTegenEOS allows effective delivery of autografts to the site for effective integration of the newly formed bone with the host environment (turquoise blue area showed the original location of the defect).\n\nTegenEOS", "table_ids": ["tbl-curated-p14-fda-submission-readout-mean-total-bone-volume", "tbl-curated-p14-fda-submission-readout-standard-deviation", "tbl-curated-p14-fda-submission-readout-bone-maturation-stage"], "figure_ids": [], "page_start": 13, "page_end": 15, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "13", "printed_page_end": "15", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-04-production-readiness-underway", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["2026 Highlights", "04. Production Readiness Underway"], "heading": "04. Production Readiness Underway", "text": "Federal Government support for Australian export. With the backing of a $3.3m IGP grant, we have begun building a purpose-designed advanced manufacturing facility in Sydney that will lift our production capability tenfold, with completion expected in late 2026.\n\nThe facility adds 3,000 sqm of production space to our campus and positions Tetratherix to be a leader in innovation for Australian advanced manufacturing, exporting globally. Capacity is being brought online in stages to match global demand, and inventory is being built through the process to supply both the Bone Regeneration and Precision Medicine franchises.", "table_ids": [], "figure_ids": [], "page_start": 16, "page_end": 16, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "16", "printed_page_end": "16", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-05-precision-medicine-launch", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["2026 Highlights", "05. Precision Medicine Launch"], "heading": "05. Precision Medicine Launch", "text": "New franchise launched in the fast growing drug delivery market\n\nChanging the way drugs are delivered, on the back of more than five years of mRNA delivery research. Tetratherix has launched its Precision Medicine franchise, targeting the intersection of consumer preventative medicine and metabolic health.\n\nThe franchise is built on years of complex pharmaceutical R&D and collaboration with big pharma on mRNA delivery. The technology’s distinctive feature is the ability to hold active compounds in place for controlled nasal delivery, avoiding injection entirely. Anchored by science, the technology’s proposition has been validated by recent peer-reviewed publications covering the nasal delivery of proteins, peptides and insulin.", "table_ids": [], "figure_ids": [], "page_start": 17, "page_end": 17, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "17", "printed_page_end": "17", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-06-paving-the-path-with-our", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["2026 Highlights", "06. Paving the Path with our Pipeline"], "heading": "06. Paving the Path with our Pipeline", "text": "The Tetramatrix™ platform continues to grow\n\nA histological assessment of a pipeline Tissue Healing application in an animal model from UPenn (USA)\n\nGrowing patient impact, anchored by science. Working closely with our development partners, Tetratherix advanced the clinical safety and efficacy testing of its pipeline products across scar prevention, urological spacing and cataract surgery.\n\nIn addition to our clinical trials for TetraDerm and Tutelix, that both reached significant clinical milestones, we continued the development of our other pipeline products. BioOptix completed its proof-of-concept preclinical studies, demonstrating that the product can maintain surgical space and allow complete cataract surgery with no spike in eye pressure. We published our results in multiple peer-reviewed journal articles on novel utility of our polymer platform for tissue healing and precision medicine.", "table_ids": [], "figure_ids": [], "page_start": 18, "page_end": 18, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "18", "printed_page_end": "18", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-ceo-fy26-letter", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["CEO FY26 Letter"], "heading": "CEO FY26 Letter", "text": "Dear Shareholders,\n\nHealthcare is moving in one direction: faster, cheaper, and further from the operating theatre than most legacy medical technology companies are prepared to admit. In the United States, more than 80% of surgical procedures are now performed outside a hospital inpatient bed. Ambulatory surgery centres, a $45.6 billion market today, are forecast to grow past $55 billion in the US within five years, and regulators keep widening what can be done within them: CMS added 37 procedures to the approved ambulatory service centre (ASC) list in 2024 and another 21 in 2025, and by next year an estimated third of all cardiac procedures in the US will be performed in an ASC rather than a hospital. Urology intervention, orthopaedic surgery and general surgery are all following the same path. The economics behind the move are straightforward. Procedures performed in an ambulatory setting typically cost 35% to 50% less than the same procedure in a hospital outpatient department, a colonoscopy runs around 38% cheaper, a rotator cuff repair or knee arthroscopy over 50% cheaper, and the US Medicare system alone saves more than $4 billion a year by moving care into these settings. But to be clear – this shift applies to markets all around the world, with the EU, Australia and Asia catching up to the US thematic.\n\nFollowing, although we are pushing the progression to the clinic, Tetramatrix™ is not a platform built exclusively for ambulatory settings, and that is deliberate. The Tetramatrix™ chemistry performs the same way inside a hospital theatre as it does in an ASC, and our partners value that consistency: one specification that works wherever a case lands, rather than a different product for outpatient sites and another for inpatient ones. Our role in this shift is to give partners a material that lets them move with it at whatever pace their market does, hospital or ASC, and put them at the front of a global trend rather than a cycle behind it. We spent much of FY26 in the rooms where this shift is being decided, meeting the partners and clinicians who are actually reallocating volume between settings, and it confirmed the premise we built this company around: a platform that reduces the footprint, time and cost of a procedure is exactly where the system is heading, pushed by payers and regulators as much as by patients.\n\nTetramatrix was designed for that shift before the shift had a name most investors would recognise. Our patient impact across our clinical programs built on the platform has grown by 58% in FY26, a number that will move quickly once our regulatory position clears. Our bone regeneration products remain under active FDA review, with our 510(k) submissions progressing through the process; our upcoming clearance is the gate that turns a research cohort into a commercial one, and turns a product that has existed in a trial protocol into something a surgeon can reach for in an ASC or a hospital theatre, wherever the case is booked.\n\nThere is a way to launch a medical technology properly, and it takes longer than the market tends to want. When a new product reaches a physician’s hands for the first time, it is delivered into a person's body to manipulate biology – no mean feat – and every launch we run follows the same discipline: a twelve to eighteen month seed program, run with a defined and limited group of users, deliberately unhurried, built so we can watch exactly how the product performs, in which patients, and under what training, before it goes anywhere near broad distribution. That seed period is what makes everything that follows it trustworthy. A device used in the wrong patient, by a surgeon who has not been properly trained on it, causes damage that compounds well past that single case, because trust in an entire category of care, once lost, is close to impossible to rebuild. We take that risk seriously, on behalf of patients who have no way of knowing, from where they sit, how carefully the company behind their treatment actually did this work. The seed program exists because being slow, here, is the work itself, and we intend to keep doing it this way long after the market has stopped asking us to hurry. This is exactly where twenty-plus years of experience commercialising medical technology globally earns its place at the table, because we have seen how this goes right and how it goes wrong often enough to know which twelve to eighteen months are worth spending before anyone touches broad distribution.\n\nOn the theme of deliberate patience, the approach to our orthopaedic partnership deserves some airtime, to further explain the partner selection process which may be seen to be taking longer than some would like, despite this being a targeted mission. Our first bone regeneration product – Tegenix - already moves through Henry Schein's team and will soon launch into its distribution network in the US, which tells you the product performs and the surgeons assessing it are excited. But, like this Henry Schein agreement’s structure exemplifies, a traditional distribution agreement is a different thing from choosing who we co-develop the next generation of orthopaedic innovation with over the fifteen to twenty- year horizon our licensing model is actually built around. We are running that process with the diligence a decision of that length deserves: technical evaluation in both directions, clinical evidence exchanged rather than asserted, and enough time in each other's labs and production lines to know whether the relationship holds up past a couple of quarters. We would rather take our time and get the right partner than announce a name early because the market wants one in a report. Shareholders should read the pace of this process as discipline, not delay.\n\nIn FY26, we backed the science up with another genuine commercial result ahead of time. In March we signed our inaugural drug delivery licence agreement with Superpower Health, a US consumer health group, worth US$3 million a year for up to a decade, plus polymer supply revenue on top – a partnership already delivering $4.2 million cash inflow, catalysing balance sheet rigour in FY26. It is proof, at commercial terms, that a partner with rapidly growing resources and ambitions is willing to build its own product roadmap around our platform. Regulatory progress moved at the same pace. We completed full FDA dossiers for our dental and orthopaedic bone regeneration products, and the FDA has since assigned the Tetramatrix™ polymer its own federal identifier, a UNII number, the agency's formal acknowledgment that the Tetramatrix™ technology is exactly what we say it is. A $3.3 million Industry Growth Program grant from the Australian Government is now helping to underwrite the manufacturing expansion behind all of it. The platform kept moving beyond bone, too: five years of internal mRNA delivery research became an entirely new Precision Medicine franchise, aimed squarely at preventative care and metabolic health.\n\nWe think our advantage here is structural rather than incremental. The global GLP-1 and metabolic health drug market is forecast to grow from roughly US$27.5 billion in 2026 to close to US$100 billion by 2030 and more than 12% of American adults are already taking one of these medications. At June 2026, almost all of them take it by injection. That is the entire commercial opening in front of STEPP: our nasal delivery system that forms a protective, adhesive cushion inside the nasal cavity, protects the therapeutic payload against degradation, and releases it into the bloodstream in a controlled way, without a needle. We have now shown this works across a genuinely wide range of payload types rather than one molecule class, including GLP-1 peptides, mRNA constructs, antibiotics, antibodies and growth factors, the result of more than five years of internal drug delivery research done with research institution partners rather than built around a single drug. Superpower's decision to build its consumer metabolic health roadmap around STEPP is the first commercial evidence that this advantage is real and monetisable. And it won't be the last.\n\nElsewhere, our pipeline in scar reduction, a radiation oncology spacer for prostate treatment, and our cataract surgery solution all continued to accumulate safety and efficacy data on their own timeline, quietly and with laser focused and deliberate strategic vision.\n\nWe have been deliberate about what capital we raise and why, and deliberate about the shape of the business underneath it, since well before FY26. The model was never going to be capital intensive in the way a company that owns its own commercialisation assets is capital intensive. We hand that work to globally leading partners who are set up to do it better and faster than we ever could, and we keep the parts of the value chain that scale without scaling cost: one core Tetramatrix™ chemistry, licenced and supplied into as many derivative products as the platform can support. That is why our licence revenue plus product supply carries a gross margin most product companies would not recognise, and why the margin compounds rather than merely accumulates: every new partner adds revenue on largely the same fixed cost base, not a new commercial function or a new regulatory team built specifically for them. FY26 closed with more than $20 million above what our Prospectus modelled, across a placement, licence revenue and incremental government grants, and none of that capital is a general-purpose war chest. It funds a specific list of things: manufacturing capacity, clinical enrolment and the commercial infrastructure that turns a partner's interest into a cash-generating agreement, because the point of building our warchest was always to reach our own operating cash flow on a visible timeline, not to extend how long we could operate without one. A company that depends on capital markets’ goodwill between raises is not fully in control of its own decisions. Compounding margin on top of a lean cost base is a slower, less headline-friendly story than announcing a large raise, but it is the version of this story that ends with us setting our own terms, on our own schedule – which maximises outcomes for our shareholders but more importantly, grows the impact we can have on patients’ lives all around the world.\n\nThere is also a case, separate from any single product, for building this in Australia rather than somewhere else. We are constructing Tetratherix's manufacturing capability in Sydney because Australia gives us technical talent that is genuinely hard to find elsewhere, a regulator the rest of the world takes seriously, a group of commercial medtech talent that has worked at the highest echelon of the industry and an opportunity to build on the work of our founder – Dr Ali Fathi – to foster an ecosystem of global leadership in our sector. That combination - real engineering depth and genuine global commercial acumen - is what has let a company our size sit across the table from, and sign terms with, some of the largest healthcare and consumer health companies on earth. Tetramatrix is designed, developed and entirely made here, in Sydney, then licenced and sold into markets many times the size of our own. Done properly, over the coming years, Tetratherix becomes a working example of what sovereign manufacturing in Australian life sciences can look like: the source of a complete, unique technological export - not a subsidiary of someone else's supply chain.\n\nNone of this happens without the people who are the heart, soul and engine of Tetratherix. What I'm proudest of this year isn't any single result, it's the accumulation of differentiated proof points and most importantly, that the TTX culture held while the company changed shape underneath it. We went from a research house to a manufacturing-led commercial business in the space of twelve months, and the same people who would tell you honestly what was wrong with an experiment in a team meeting are now the ones running qualified production lines, engaging with regulators at the highest level and holding partners to the standard our science requires. The team behind our mission make us immensely proud and our culture is at the top of our list of achievements.\n\nFY27 is where the science transitions to revenue, on a schedule we have set for ourselves rather than one set for us. Three things carry the year. First, FDA clearance for Tegenix and TegenEOS, followed by our inaugural product sales for bone regeneration and STEPP meaning Tetramatrix™ will begin its journey to rapidly grow its reach to clinical customers rather than sitting on a desk in the form of a research paper. Second, a single manufacturing campus, with HQ and production under one roof, alongside MDSAP accreditation, which opens the US, Australian and other major markets collectively rather than one at a time. Third, clinical progress that is not waiting on either of the above: Tutelix's pivotal trial enrolling its first patients, and Optimatrix moving out of preclinical work and into the clinic.\n\nTo the team: thank you for building something real, on a schedule most people would have called unreasonable twelve months ago.\n\nTo our partners and shareholders: thank you for backing a company that has chosen to prove itself in stages, with evidence, rather than promise everything at once.\n\nTo every shareholder who put capital behind us, and every partner who put their own name on the line to work with us: you are funding a future patient, one we cannot yet name, who will walk into an operating theatre or a clinic and receive care that is faster, gentler and genuinely better because this company existed and you backed it early enough for that to be possible. That is the actual scale of what your support is building toward, quarter by quarter, and it is the reason this company exists.\n\nThank you.\n\nKind regards,\n\nWill Knox Chief Executive Officer", "table_ids": [], "figure_ids": [], "page_start": 19, "page_end": 21, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "19", "printed_page_end": "21", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-the-tetratherix-mission", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["02. Our Company", "The Tetratherix Mission"], "heading": "The Tetratherix Mission", "text": "We use the Tetramatrix™ platform polymer to develop multiple products to treat patients faster, cheaper and safer.\n\nOur goal is to derive products from our platform technology to expand healthcare access by treating more patients outside traditional hospital and surgical settings, fostering greater health equity worldwide and improving clinical outcomes.\n\nWe use the modularity of the Tetramatrix™ platform to partner with key market leaders to develop new technologies and together maximise impact.\n\nWe make product development more efficient; patients and physicians can access the future of healthcare sooner.\n\nWe will treat 10 million patients by 2035 by using our platform technology.", "table_ids": [], "figure_ids": [], "page_start": 23, "page_end": 23, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "23", "printed_page_end": "23", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-active-product-programs", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["02. Our Company", "Active Product Programs"], "heading": "Active Product Programs", "text": "15 Years of deep R&D on the cusp of changing lives around the world\n\n6 Products being developed from a single technology in the first generation\n\n3X Enhanced productivity With flywheel in motion from experience and AI/ digitalisation\n\n03 New chemistries with 95% similarities from our single Tetramatrix Platform technology", "table_ids": ["tbl-curated-p24-active-product-programs-stage-of-development"], "figure_ids": [], "page_start": 24, "page_end": 24, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "24", "printed_page_end": "24", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-global-r-d-infrastructure", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Global R&D Infrastructure"], "heading": "Global R&D Infrastructure", "text": "Digital Internal Machine Learning Tool*\n\n42 Granted Patents\n\n2044 Patent Expiry Timeframe\n\nR&D Activities across Australia, the USA and China\n\n10 Years of ISO13485 Certified", "table_ids": [], "figure_ids": [], "page_start": 25, "page_end": 25, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "25", "printed_page_end": "25", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-people-and-culture", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "People and Culture"], "heading": "People and Culture", "text": "25 FT Employees # (Full-Time Equivalent)\n\n94% AI Daily usage in initial onboarded cohort\n\n0 Employee regrettable loss over 5 years", "table_ids": ["tbl-curated-p26-people-culture"], "figure_ids": [], "page_start": 26, "page_end": 26, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "26", "printed_page_end": "26", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-why-does-the-world-need-tetratherix", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "The Tetramatrix™ Platform Technology", "Why Does the World Need Tetratherix?"], "heading": "Why Does the World Need Tetratherix?", "text": "The Evolving Dynamics of Global Healthcare is Demanding Innovative & Cost-Effective Biomaterials", "table_ids": [], "figure_ids": [], "page_start": 28, "page_end": 28, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "28", "printed_page_end": "28", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-01-rising-patient-expectations", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "The Tetramatrix™ Platform Technology", "Why Does the World Need Tetratherix?", "01. Rising Patient Expectations"], "heading": "01. Rising Patient Expectations", "text": "Patients are increasingly expecting higher quality of care with a particular focus on reducing recovery times and the lower risk of complications - which is also a driver of increasing healthcare costs for patients and payers globally.", "table_ids": [], "figure_ids": [], "page_start": 28, "page_end": 28, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "28", "printed_page_end": "28", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-02-need-for-cost-effective-and", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "The Tetramatrix™ Platform Technology", "Why Does the World Need Tetratherix?", "02. Need for Cost-Effective and Decentralised Care"], "heading": "02. Need for Cost-Effective and Decentralised Care", "text": "Increasing global healthcare spending and demand for healthcare services are necessitating investment in cost-effective tools and treatments, including those that can be delivered outside a traditional hospital setting, to minimise burden on the healthcare system.", "table_ids": [], "figure_ids": [], "page_start": 28, "page_end": 28, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "28", "printed_page_end": "28", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-03-easier-healthcare-delivered-wherever-care", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "The Tetramatrix™ Platform Technology", "Why Does the World Need Tetratherix?", "03. Easier Healthcare Delivered Wherever Care Happens"], "heading": "03. Easier Healthcare Delivered Wherever Care Happens", "text": "Consumers are taking a bigger role in healthcare choices, they are demanding safer, easier options they can use at home or assisted in outpatient settings focused on predictable performance that improves access and outcomes.", "table_ids": [], "figure_ids": [], "page_start": 28, "page_end": 28, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "28", "printed_page_end": "28", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tetramatrix-platform-technology", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology"], "heading": "Tetramatrix™ Platform Technology", "text": "We use the modularity of the Tetramatrix™ platform to partner with key market leaders to develop new technologies and together maximise impact. We make product development more efficient; patients and physicians can access the future of healthcare sooner.\n\nThe Company’s primary focus is on developing and commercialising the Company’s unique and innovative Tetramatrix™ platform technology. Tetramatrix™ is a platform of proprietary, fully synthetic polymer products that are compatible with minimally invasive administration techniques and cause minimal foreign body reaction (making it ideal for regenerative medicine and drug delivery) .\n\nThe Tetramatrix™ platform technology is clinically modular, integrates and adheres to the target tissue to support different regenerative biological processes and/or to simplify surgical interventions. The core technology used in Tetramatrix™ is a family of synthetic polymers comprising of four building blocks that act as medical Lego®, allowing fine tuning of the polymer chemistry to address different clinical needs.\n\nThree polymer configurations are formulated by using Tetramatrix™; these three polymer configurations share ~95% chemical similarity, are manufactured with an identical processing conditions and quality management system. Tetramatrix™ is used to derive products in three market segments, also called franchises that include bone regeneration, tissue spacing and tissue healing.", "table_ids": [], "figure_ids": [], "page_start": 29, "page_end": 29, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "29", "printed_page_end": "29", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-01-universal-minimally-invasive-delivery", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology", "01. Universal Minimally invasive delivery"], "heading": "01. Universal Minimally invasive delivery", "text": "Water-based solution that can be injected or sprayed into the body without causing disruption to the surrounding host tissue.", "table_ids": [], "figure_ids": [], "page_start": 29, "page_end": 29, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "29", "printed_page_end": "29", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-02-seamlessly-integrates-into-existing-workflow", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology", "02. Seamlessly integrates into existing workflow"], "heading": "02. Seamlessly integrates into existing workflow", "text": "Engineered for predictable point- of-care handling without bespoke infrastructure, with controlled transition at physiological temperature for repeatable, measurable and clinically practical performance.", "table_ids": [], "figure_ids": [], "page_start": 29, "page_end": 29, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "29", "printed_page_end": "29", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-03-biostealth-engineered-to-be-ignored", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology", "03. Biostealth: Engineered to be ignored"], "heading": "03. Biostealth: Engineered to be ignored", "text": "With seamless biocompatibility, Tetramatrix™ works with the body then disappears with no fuss, no noise and nothing left behind.", "table_ids": [], "figure_ids": [], "page_start": 29, "page_end": 29, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "29", "printed_page_end": "29", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-04-manufactured-at-low-cost-and", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology", "04. Manufactured at low cost and scaled"], "heading": "04. Manufactured at low cost and scaled", "text": "Built with manufacturability, robust quality systems and scalability in mind, Tetramatrix™ supports clear pathways from development through to validation and ultimately real-world clinical deployment.\n\n1 Published in three peer-reviewed journal articles: (1) Calder, D. et al. Thermoresponsive and Injectable Hydrogel for Tissue Agnostic Regeneration (Adv. Healthcare Mater. 23/2022). Adv Healthc Mater 11, 2270137 (2022); (2) Calder, D. et al. Universal Hydrogel Carrier Enhances Bone Graft Success: Preclinical and Clinical Evaluation. Adv Healthc Mater (2025). doi:10.1002/adhm.202403930; and (3) Fathi, A. et al. Elastin based cell-laden injectable hydrogels with tunable gelation, mechanical and biodegradation properties. Biomaterials 35, 5425–5435 (2014).", "table_ids": [], "figure_ids": [], "page_start": 29, "page_end": 29, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "29", "printed_page_end": "29", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tetramatrix-platform-technology-how-does-it", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology - How does it work?"], "heading": "Tetramatrix™ Platform Technology - How does it work?", "text": "Tetramatrix™ is a synthetic material supplied in a ready-to-use syringe format that fits within the existing clinical workflow rather than changing it. It is manufactured locally, at  scale and at low cost.\n\nThe material is delivered by injection or spray, causing minimal, if any damage to the surrounding area during its application. Gelation is purely physical: the material uses the heat of the body to transition from a fluid into a hydrogel. Its water content and mechanical properties closely match soft tissue, which encourages the body to accept the matrix as part of its own. Over time it breaks down into safe by-products that are cleared through the kidneys.", "table_ids": [], "figure_ids": [], "page_start": 30, "page_end": 30, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "30", "printed_page_end": "30", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-01-intelligent", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology - How does it work?", "01. Intelligent"], "heading": "01. Intelligent", "text": "The material is an injectable fluid to avoid causing damage to the body during its application. Upon injection, triggered by physiological temperature, a 3D matrix is formed that physically integrates and adheres to the target tissue.", "table_ids": [], "figure_ids": [], "page_start": 30, "page_end": 30, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "30", "printed_page_end": "30", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-02-modular", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology - How does it work?", "02. Modular"], "heading": "02. Modular", "text": "A  biomaterial platform built with unique polymer programming akin to ‘medical Lego®’ to form implantable products to solve a wide range of clinical problems.", "table_ids": [], "figure_ids": [], "page_start": 30, "page_end": 30, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "30", "printed_page_end": "30", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-03-biomimetic", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Platform Technology - How does it work?", "03. Biomimetic"], "heading": "03. Biomimetic", "text": "The matrix has similar water content and mechanical properties to natural tissue, and therefore is impervious to the body, bridging healthy and injured tissues, helping heal injuries or physically manipulating the body during surgical interventions.", "table_ids": [], "figure_ids": [], "page_start": 30, "page_end": 30, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "30", "printed_page_end": "30", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tetramatrix-clinical-franchises", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Clinical Franchises"], "heading": "Tetramatrix™ Clinical Franchises", "text": "The Tetramatrix™ platform is applied across four distinct clinical use cases we call franchises. In practice, we do what a material can usefully do inside the body: we help repair both soft and hard tissue, we deliver therapeutics, and we create and hold surgical space. Our products are developed to go deeper within each application rather than broader across many, so that every derivative is refined for the clinical problem it solves.", "table_ids": ["tbl-curated-p31-tetramatrix-clinical-franchises"], "figure_ids": [], "page_start": 31, "page_end": 31, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "31", "printed_page_end": "31", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tetramatrix-product-portfolio-generation-1", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tetramatrix™ Product Portfolio - Generation 1"], "heading": "Tetramatrix™ Product Portfolio - Generation 1", "text": "Our Generation 1 products are the first commercial derivatives of the Tetramatrix™ platform, each engineered from the same core chemistry for a specific clinical need. They span all four franchises: Tegenix and TegenEOS for bone regeneration, Tutelix and Optimatrix for tissue spacing, TetraDerm for tissue healing, and STEPP for precision medicine. Together they show how a single platform technology can be programed into distinct, purpose-built products across a broad range of surgical and therapeutic settings.", "table_ids": ["tbl-curated-p32-tetramatrix-product-portfolio-generation-1"], "figure_ids": [], "page_start": 32, "page_end": 32, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "32", "printed_page_end": "32", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-the-tetramatrix-platform-technology-2", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "The Tetramatrix™ Platform Technology"], "heading": "The Tetramatrix™ Platform Technology", "text": "", "table_ids": ["tbl-curated-p33-tetramatrix-polymer-building-blocks", "tbl-curated-p33-product-polymer-configuration"], "figure_ids": [], "page_start": 33, "page_end": 33, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "33", "printed_page_end": "33", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-bone-regeneration-dental-tegenix", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Bone Regeneration - Dental (Tegenix)"], "heading": "Bone Regeneration - Dental (Tegenix)", "text": "Tegenix targets the dental and oral bone-graft market, where graft substitutes represent an estimated US$0.9–1.3 billion in 2025 and are growing at roughly 8% a year as clinicians move away from autograft harvesting toward synthetic, off- the-shelf solutions. As a universal carrier that mixes with allograft, autologous and synthetic grafts, Tegenix is graft- agnostic by design, which opens a clear path from routine socket preservation into higher-value adjacent procedures such as sinus augmentation, ridge preservation and guided bone regeneration without reformulation.\n\nResults to date and why it matters:\n\nIn FY26 Tegenix reached commercial and regulatory readiness: the full FDA technical dossier was completed followed by a successful FDA submission, underpinned by the ISO 10993 safety package that also supports our TegenEOS,  STEPP and partially our TetraDerm programs. The distribution agreement with Henry Schein pairs the product with one of the largest medical channels in the world. Together these milestones make Tegenix our most advanced route to first US revenue and a proof point that the Tetramatrix™ platform can move from bench to a partnered, market-ready and field- specific product.\n\n**FY26 Updates**\n\n- Henry Schein Agreement\n\n- FDA Technical Dossier Complete\n\n- FDA Submission", "table_ids": [], "figure_ids": [], "page_start": 34, "page_end": 34, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "34", "printed_page_end": "34", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-bone-regeneration-ortho-tegeneos", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Bone Regeneration - Ortho (TegenEOS)"], "heading": "Bone Regeneration - Ortho (TegenEOS)", "text": "TegenEOS addresses the broader orthopaedic bone-graft and substitutes market, estimated at around US$3.4 billion in 2025 and forecast to approach US$4.6 billion by 2030 at a CAGR of roughly 6–7%. Because TegenEOS shares an identical chemistry with Tegenix and differs only in fill volume, it inherits the same safety and manufacturing foundation while unlocking a much larger clinical field, with a natural expansion path from foot-and-ankle trauma into spinal fusion and general orthopaedic reconstruction as the flowable carrier format is validated across procedures.\n\nResults to Date and Why it Matters:\n\nTegenEOS completed its FDA technical dossier for FDA submission with commercial partnership discussions advancing in parallel.  In addition to bone grafting potentials, follow on applications of TegenEOS  involve biologic and blood product deliveries for a different orthopaedic surgeries in outpatient settings.  Delivering two bone-regeneration products from a single core chemistry demonstrates the capital efficiency of the platform-to-product model and materially widens our addressable market for minimal incremental development cost.\n\n**FY26 Updates**\n\n- Commercial Partnership Discussions Progress\n\n- FDA Technical Dossier Complete", "table_ids": [], "figure_ids": [], "page_start": 35, "page_end": 35, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "35", "printed_page_end": "35", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tissue-spacing-oncology-tutelix", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tissue Spacing - Oncology (Tutelix)"], "heading": "Tissue Spacing - Oncology (Tutelix)", "text": "Tutelix competes in the absorbable tissue-spacer market for radiation oncology, valued at around US$0.9 billion in 2025 and forecast to grow at a double-digit CAGR toward 2030 as hydrogel spacing becomes standard of care;  confirming both clinical acceptance and scale. Tutelix begins in prostate cancer but the same injectable, radiopaque and reversible spacer has clear expansion potential into other radiotherapy settings such as gynaecological and head-and-neck cancers, and its underlying PPHO chemistry extends further into the wider tissue-spacing and tissue-healing franchise.\n\nResults to Date and Why it Matters:\n\nThe FY26 pilot trial treated 15 patients with no adverse events and early indications of performance, with safety and injectability demonstrated at volumes up to 30 cc; our co-developer partner completed its Series A funding successfully by securing investment from Venture Funds and Key Opinion Leaders in the US.  The Human Research Ethics Committee (HREC) approval was also granted for the Australian arm of the pivotal trial for FDA clearance of the product.\n\n**FY26 Updates**\n\n- FDA Q-Sub\n\n- Pilot Trial Interim Results\n\n- Series A Funding\n\n- HREC for Pivotal", "table_ids": [], "figure_ids": [], "page_start": 36, "page_end": 36, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "36", "printed_page_end": "36", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tissue-spacing-ophthalmic-optimatrix", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tissue Spacing - Ophthalmic (Optimatrix*)"], "heading": "Tissue Spacing - Ophthalmic (Optimatrix*)", "text": "Optimatrix enters the ophthalmic viscoelastic device (OVD) market, worth roughly US$3.0 billion in 2025 and growing at about 4–5% a year on the back of rising cataract volumes and an ageing population. As a fully synthetic, reversible OVD with no animal-derived components, Optimatrix is positioned against a market still largely dependent on animal-sourced materials, and its cold-saline reversibility and low cost of goods create a platform for expansion beyond cataract surgery into other anterior-segment and ocular procedures where controlled space and clean removal are valued.\n\nResults to Date and Why it Matters:\n\nFollowing proof-of-concept preclinical work under the BioOptix program, FY26 delivered a signed licence agreement, a strategic partnership with Alcon, the first milestone payment to our co-developer under the R&D agreement, and an FDA Q-Sub application; the product. The Alcon relationship validates the technology with a global leader in eye care and exemplifies the partner-led model, with Tetratherix generating milestone and licensing revenue while a major partner carries regulatory, reimbursement and market development.\n\n**FY26 Updates**\n\n- Licence Agreement Signed\n\n- Strategic Partnership with Alcon\n\n- Milestone 1 from R&D Agreement\n\n- FDA Q-Sub Application", "table_ids": [], "figure_ids": [], "page_start": 37, "page_end": 37, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "37", "printed_page_end": "37", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tissue-healing-scar-reduction-tetraderm", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Tissue Healing - Scar Reduction (TetraDerm)"], "heading": "Tissue Healing - Scar Reduction (TetraDerm)", "text": "TetraDerm addresses scar prevention across surgical procedures, part of a large and fast-growing scar-treatment market estimated at anywhere from US$19 billion to over US$30 billion in 2025 depending on scope and expanding at close to 9% a year. TetraDerm's distinct position is intraoperative prevention rather than post-hoc treatment: a flowable matrix that cushions tissue and eliminates dead space at the time of surgery. Demonstrated across reconstructions, arthroplasty and caesarean sections, the same soft-tissue integration mechanism extends naturally into other healing applications flagged for the franchise, including the spine, cartilage and tendon.\n\nResults to Date and Why it Matters:\n\nClinical evidence is building steadily: cohort 2 enrolment was completed and cohort 3 initiated during FY26, while one- year follow-up data from cohort 1 showed strong indications of performance and efficacy, with a low inflammatory response and no foreign-body reaction. As the lead product in the Tissue Healing franchise, TetraDerm is generating the human safety and efficacy data that both de-risks this indication and reinforces the biocompatibility case for the wider Tetramatrix™ platform.\n\n**FY26 Updates**\n\n- Cohort 2 Commenced\n\n- Year 1 Follow up for Cohort 1\n\n- TetraDerm Cohort 3 Initiation", "table_ids": [], "figure_ids": [], "page_start": 38, "page_end": 38, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "38", "printed_page_end": "38", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-precision-medicine-drug-delivery-stepp", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Precision Medicine - Drug Delivery (STEPP)"], "heading": "Precision Medicine - Drug Delivery (STEPP)", "text": "STEPP opens Tetratherix's Precision Medicine franchise in intranasal drug delivery, a field where the device segment alone is estimated at around US$1.9 billion in 2025 and the broader nasal drug-delivery market at roughly US$5 billion, both growing at high single-to-double-digit rates as needle-free administration of biologics gains ground. STEPP is a formulation platform rather than a single product: because it works by dissolving the Tetramatrix™ polymer at low concentration in different buffers, it can be tailored to a wide range of actives, giving a broad expansion runway across peptides, proteins, mRNA and metabolic-health compounds.\n\nResults to Date and Why it Matters:\n\nAfter more than five years in stealth development, including global R&D with several big-pharma partners, STEPP delivered two significant FY26 milestones: an agreement with Superpower Health and the publication of nasal insulin results validating transmucosal delivery of a therapeutic protein. STEPP extends the platform beyond implantable devices into pharmaceutical delivery, positioning Tetratherix at the intersection of consumer preventative medicine and metabolic health and materially broadening the long-term commercial optionality of the core technology.\n\n**FY26 Updates**\n\n- Superpower Health Agreement\n\n- Nasal Insulin results published", "table_ids": [], "figure_ids": [], "page_start": 39, "page_end": 39, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "39", "printed_page_end": "39", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-product-segmentation-generation-1", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "Product Segmentation - Generation 1"], "heading": "Product Segmentation - Generation 1", "text": "Tegenix anchors the bone-regeneration franchise with our first FDA clearance will be for this product. The underlying bone-graft substitutes market is around US$0.6 billion in 2025 giving Tegenix a substantial addressable opportunity as it scales through regulatory clearance into first commercial sales through our partner, Henry Schein.\n\nTegenEOS is a dual-application delivery matrix, which lifts both its patient impact and its TAM versus a bone-only view. The bone-graft TAM is around US$ 0.8 billion in 2025, projected toward US$1.8–2.0 billion by the early 2030s and supported by roughly 5 million implant procedures a year in the US alone. In a longer term, the strategy extends the same matrix into platelet-rich plasma (PRP) delivery an underserved market of about US$1.0–1.7 billion in 2025 growing at 13–15% a year across orthopaedics, sports medicine, dental and aesthetics where localising and retaining PRP at the treatment site addresses a known limitation of free-injection PRP. TegenEOS is classed as Disrupt: an injectable, resorbable matrix changes the procedure versus traditional biologics delivery.\n\nSTEPP is the portfolio's largest opportunity and clearest disruptor. It starts as a needle-free systemic delivery platform but will be expanded to other routes and a wide range of applications.  It addresses a very large patient population across many drug classes, with high unmet needs. The horizon one to access the market and generate revenue is relatively soon in the US.  This will follow with additional regulatory engagements and partnerships for longer term development activities. The published intranasal delivery market is roughly US$63–93 billion today; STEPP's long-horizon, platform-level potential is far larger, and is best framed as a vision TAM rather than a served market.\n\nTutelix is the clearest Displace case, entering an established hydrogel-spacer category (SpaceOAR, Barrigel) with a differentiated, safer to use and reversible product. An addressable opportunity of around US$1 billion roughly 750,000 patients is consistent with global prostate radiotherapy volumes (about 350,000 procedures a year) plus expansion into other applications, including pelvic. Its mid-range time to revenue reflects an existing reimbursement and regulatory template to follow.\n\nTetraDerm is high impact and relatively mid-term to revenue. Scarring affects almost every surgical patient and there is no strong intraoperative incumbent, so TetraDerm reads as a category creator (Disrupt). The overall scar-treatment market is large around US$19 billion in 2025, heading toward roughly US$43 billion by 2035 and the intraoperative-matrix slice that TetraDerm serves is a fraction of that, giving an addressable opportunity in the order of US$5 billion. Its regulatory and adoption pathways as a surgical adjunct are relatively mid-term.\n\nOptimatrix is positioned low-left to reflect an early, narrow initial indication despite a very large underlying population cataract surgery runs at around 28–30 million procedures a year, and ophthalmic drug delivery is a roughly US$17 billion market. It is treated as Displace, entering an existing delivery category. The clear upside is indication breadth: as the addressable indication widens, both its patient impact and its TAM grow materially.", "table_ids": ["tbl-curated-p40-product-segmentation-generation-1"], "figure_ids": [], "page_start": 40, "page_end": 40, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "40", "printed_page_end": "40", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-a-platform-anchored-by-science", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "A Platform Anchored by Science"], "heading": "A Platform Anchored by Science", "text": "", "table_ids": ["tbl-curated-p41-a-platform-anchored-by-science-franchise-results"], "figure_ids": [], "page_start": 41, "page_end": 41, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "41", "printed_page_end": "41", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-the-ttx-flywheel-in-motion", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["TTX by the data", "The TTX Flywheel in Motion"], "heading": "The TTX Flywheel in Motion", "text": "Every project we run makes the next one more efficient and faster. As each development program progresses, it feeds more technical data back into the platform, strengthening a shared data package that shortens and de-risks the work that follows, these can be safety data as well as performance results that can be useful for future product development and accumulate knowledge.  Each round in turn opens new development and advanced engineering projects, deepening our technological advantage and expanding production capacity and capability. This is the internal cycle at the heart of the flywheel: data compounds into IP, IP compounds into capability, and capability accelerates the next turn.\n\nEach turn of that internal cycle drives external outcomes. A deeper data package and a broader IP portfolio make Tetratherix a more compelling partner, attracting more partnerships across more market segments; those partnerships compound business growth, which funds the next wave of development and manufacturing scale. The result is a widening technology advantage that we can convert into products faster, at lower cost and with greater agility than a single product developer and, ultimately, into global patient impact as more of our platform-derived products reach more patients in more markets.", "table_ids": [], "figure_ids": [], "page_start": 42, "page_end": 42, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "42", "printed_page_end": "42", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-03-directors-report", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report"], "heading": "03. Directors' Report", "text": "The directors present their report, together with the financial statements, on the Consolidated entity (referred to hereafter as the ‘Consolidated entity’ or the ‘Group’) consisting of Tetratherix Limited (referred to hereafter as the ‘Company’ or ‘parent entity’) and the entities it controlled at the end of, or during, the year ended 30 June 2026.", "table_ids": [], "figure_ids": [], "page_start": 43, "page_end": 43, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "43", "printed_page_end": "43", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-our-strategic-framework", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Our Strategic Framework"], "heading": "Our Strategic Framework", "text": "Our corporate strategy is defined as a framework to focus our efforts on the strategic priorities and the relevant stakeholders who are at the epicentre of our mission. Our development activities are prioritised in three cohorts, “Immediate Impact”, “Pave the Path” and “Chart the Course”. This approach enables ongoing and continuous value generation to treat more patients faster, cheaper and safer. To realise this sustainably, our drivers are our people and infrastructure, “the TTX engine”, supported for global impact with our “Govern and Grow” ethos.", "table_ids": ["tbl-curated-p45-our-strategic-framework"], "figure_ids": [], "page_start": 45, "page_end": 45, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "45", "printed_page_end": "45", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-fy26-strategic-delivery", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "FY26 Strategic Delivery"], "heading": "FY26 Strategic Delivery", "text": "", "table_ids": ["tbl-curated-p46-fy26-strategic-delivery-people-manufacturing-gov", "tbl-curated-p46-fy26-strategic-delivery-clinically-innovative-so"], "figure_ids": [], "page_start": 46, "page_end": 46, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "46", "printed_page_end": "46", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-our-fy27-strategic-framework", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Our FY27 Strategic Framework"], "heading": "Our FY27 Strategic Framework", "text": "", "table_ids": ["tbl-curated-p47-fy27-strategic-delivery-people-manufacturing-gov", "tbl-curated-p47-fy27-strategic-delivery-clinically-innovative-so"], "figure_ids": [], "page_start": 47, "page_end": 47, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "47", "printed_page_end": "47", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-the-group-has-recorded-a-statutory", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "(1) Profit and Loss", "The group has recorded a statutory loss of $9.3 million"], "heading": "The group has recorded a statutory loss of $9.3 million", "text": "Expenditure is in line with IPO use of funds, with incremental funding over and above the prospectus assumptions from inaugural licence revenue and Industry Growth Program (IGP) delivering higher than expected revenue and grant income.\n\nThe Company has continued to invest in R&D and production expansion as it focuses on commercial readiness in FY27.\n\n* excludes non-recurring items in FY25 relating to non-cash adjustment for fair value on financial instruments ($3.6m) and IPO costs ($1.3m)", "table_ids": ["tbl-curated-p49-summary-statement-of-profit-and-loss-aud-000"], "figure_ids": [], "page_start": 49, "page_end": 49, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "49", "printed_page_end": "49", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-2-revenue-and-other-income", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "(2) Revenue and other income"], "heading": "(2) Revenue and other income", "text": "Licence revenue\n\nReflects the FY26 allocation of the Superpower annual licence fee. $4.2 million licence revenue was received in April 2026\n\nand is being recognised on a straight-line basis over the 12-month period from April 2026. Of this, $0.9 million has been recognised in the FY26 P&L, with the remaining $3.3 million to be recognised in FY27.\n\nGrant income Reflects the accrued income from the R&D tax rebate for FY26 activity ($2.1m), cash receipt in H1 FY27 and recognition of\n\nIGP government grant in FY26 of ($0.8m) based on milestone completion. Grant income recognised is net of amounts\n\nwhich have been deferred for recognition in future years to align with the capital costs attributed to the Grants received. The total unrecognised amount deferred to future years is $1.4m.\n\nRevenue and other income per employee +145% vs FY25\n\nRevenue and other income +308% vs FY25, driven by incremental  Superpower licence revenue and IGP grant, in addition to higher R&D tax incentive", "table_ids": [], "figure_ids": [], "page_start": 50, "page_end": 50, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "50", "printed_page_end": "50", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-3-employee-benefits-expense", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "(3) Employee benefits expense"], "heading": "(3) Employee benefits expense", "text": "Reflects 100% of staff costs including those employees working on Research and Development activities. In FY26, $7.8 million ($3.1 million in FY25) related to increase in total headcount (+10 vs FY25) for the company as the\n\nCompany expands production headcount and focuses on commercial readiness, as well as the introduction of employee performance rights plan to attract and retain talent.\n\nEmployee benefits expense + 150% vs FY25. Headcount  at 25 as at 30 June 2026 +10 vs FY25; hiring for growth and commercial readiness", "table_ids": [], "figure_ids": [], "page_start": 50, "page_end": 50, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "50", "printed_page_end": "50", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-4-depreciation-and-amortisation-expense", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "(4) Depreciation and amortisation expense"], "heading": "(4) Depreciation and amortisation expense", "text": "Relates to depreciation of capital expenditure relating to the upgrade of R&D laboratory and right of use asset for the new advanced manufacturing lease agreement from December 2025.", "table_ids": [], "figure_ids": [], "page_start": 51, "page_end": 51, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "51", "printed_page_end": "51", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-5-product-and-development-expense", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "(5) Product and development expense"], "heading": "(5) Product and development expense", "text": "Refers to specific, directly attributable R&D project expenses (excluding staff and indirect costs). The company has continued to invest in product development; $2.5 million in FY26 ($1.4 million in FY25). This excludes capitalised costs of $1.1 million relating to Bone Regeneration not reflected in the P&L.", "table_ids": [], "figure_ids": [], "page_start": 51, "page_end": 51, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "51", "printed_page_end": "51", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-6-administration-expense", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "(6) Administration expense"], "heading": "(6) Administration expense", "text": "Captures listed company costs and general working capital costs (excluding employee related costs) of $2.3 million in FY26 ($1.0 million in FY25).", "table_ids": ["tbl-curated-p52-fy26-administration-expenses-2-3m"], "figure_ids": [], "page_start": 52, "page_end": 52, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "52", "printed_page_end": "52", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-7-finance-costs", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "(7) Finance costs"], "heading": "(7) Finance costs", "text": "Includes accrued interest expense for the Medical Device Fund (MDF) loan payable to NSW Health repayable subject to successful commercialisation/ positive EBIT derivation from the Trimph Dent previously under development in our Bone", "table_ids": [], "figure_ids": [], "page_start": 52, "page_end": 52, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "52", "printed_page_end": "52", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-regeneration-franchise-8-fy25-non-recurring", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Regeneration franchise. (8) FY25 non-recurring items"], "heading": "Regeneration franchise. (8) FY25 non-recurring items", "text": "Net fair value loss on financial instruments: Reflects a non-cash accounting item for the conversion of SAFE and convertible notes to ordinary shares (equity) and related fair value adjustment following approval by the ASX for\n\nadmission in FY25. Also included is a non-cash accrual of interest that resulted from the conversion of convertible notes to ordinary shares in FY25.\n\nIPO related costs FY25 non recurring item:  Captures items expensed to the P&L in FY25, not taken up in equity (note: $2.3 million was offset against equity as they relate to the issue of new shares).", "table_ids": [], "figure_ids": [], "page_start": 52, "page_end": 52, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "52", "printed_page_end": "52", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-cashflow", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Cashflow"], "heading": "Cashflow", "text": "Cash and cash equivalents were $34.4 million at 30 June 2026 ($29.3 million in FY25). The proceeds from the issue of share capital, licence fee revenue, IGP and cash received through ongoing R&D tax incentive rebate provide a strong capital structure to support continued investment in our R&D program and upscale of our manufacturing capability.\n\nInvestment in R&D, digital systems and production capability, was supported by $20.5 million in additional cash inflows versus Prospectus assumptions", "table_ids": [], "figure_ids": [], "page_start": 53, "page_end": 53, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "53", "printed_page_end": "53", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-total-research-and-development-r-d", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Total Research and Development (R&D) Investment"], "heading": "Total Research and Development (R&D) Investment", "text": "Total Research & Development (R&D) include cash outlays for project specific activities, directly attributable staff, research and laboratory costs, trademarks, patent filing and upkeep. In FY26, total R&D at $5.1 million ($2.2 million in FY25) - this equated to 31% of total cash expenditure for the Company\n\nBone Regeneration franchise activity at $2.3 million was focused on preparation for regulatory clearance for Tegenix and TegenEOS products.\n\nTissue Healing R&D investment $0.8 million related to clinical trials and pipeline development. Predominantly, this involved the operating cost of TetraDerm product clinical trial in Australia.\n\nTissue Spacing pre-clinical trials $0.9 million to develop products to generate space to support surgical access for ophthalmic applications (Optimatrix product)\n\nPrecision Medicine project $1.1 million relates programs for nasal drug delivery (STEPP product ).", "table_ids": [], "figure_ids": [], "page_start": 54, "page_end": 54, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "54", "printed_page_end": "54", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-r-d-investment-5-1-million", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Total Research and Development (R&D) Investment", "R&D investment $5.1 million, 31% of total cash outflows, in line with IPO Use of Funds"], "heading": "R&D investment $5.1 million, 31% of total cash outflows, in line with IPO Use of Funds", "text": "", "table_ids": ["tbl-curated-p54-r-d-investment-by-program-m"], "figure_ids": [], "page_start": 54, "page_end": 54, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "54", "printed_page_end": "54", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-statement-of-financial-position", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Statement of Financial Position"], "heading": "Statement of Financial Position", "text": "Net asset position as at 30 June 2026 is $32.7 million (FY25 $27.2million) driven by proceeds from capital raising activities and the inaugural licence revenue.", "table_ids": [], "figure_ids": [], "page_start": 55, "page_end": 55, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "55", "printed_page_end": "55", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-strong-cash-on-hand-ensures-robust", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Statement of Financial Position", "Strong cash on hand ensures robust working capital position of $29.6 million"], "heading": "Strong cash on hand ensures robust working capital position of $29.6 million", "text": "", "table_ids": ["tbl-curated-p55-working-capital-m"], "figure_ids": [], "page_start": 55, "page_end": 55, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "55", "printed_page_end": "55", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-risks", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Risks"], "heading": "Risks", "text": "Tetratherix is committed to proactively identifying and managing risks associated with the pursuit of its strategy and operations. It adopts the relevant industry standards, acts in accordance with legislative and regulatory obligations and reviews all activities against their risk appetite guardrails. This approach supports Tetratherix in efficiently, ethically and sustainably operating to achieve its strategic imperatives.\n\nThe table below outlines a summary of key risks and strategies that the Company has in place.", "table_ids": ["tbl-curated-p57-key-risks-and-mitigations"], "figure_ids": [], "page_start": 57, "page_end": 57, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "57", "printed_page_end": "57", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-governance", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Governance"], "heading": "Governance", "text": "The Board is committed to achieving and demonstrating standards of corporate governance appropriate to the size and operations of Tetratherix and its subsidiaries (Tetratherix Group). We continuously refine and improve Tetratherix’s governance framework and practices to ensure the interests of shareholders and other key stakeholders are met.\n\nThe Company has adopted comprehensive systems of control and accountability as the basis for the administration of corporate governance. The Board is committed to administering the Company’s policies and procedures with openness and integrity, pursuing the true spirit of corporate governance commensurate with the Company’s needs.\n\nTo the extent applicable, the Company has adopted the 4th edition of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations (Recommendations).\n\nIn light of the Company’s size and nature, the Board considers that the current Board balances cost whilst benefiting from the significant experience and networks of the Directors in directing and managing the Company. As the Company’s activities develop in size, nature and scope, the size of the Board and the implementation of additional corporate governance policies and structures will be reviewed.\n\nThe Company’s full Corporate Governance Statement is available in a dedicated corporate governance information section of the Company’s website at  https://investors.tetratherix.com/corporate-governance\n\n2026 Corporate governance highlights\n\nDiversity and Board composition During FY26, the board composition was refreshed as follows: December 2025\n\nMr. David Bottomley retired as a Independent Non-Executive Director Mr. Peter Gray was appointed as an Independent Non-Executive Director Mr. Jacob Pfeffer was appointed as Company Secretary January 2026\n\nMr. Maurizio Vecchione was formally appointed as a Independent Non-Executive Director following receipt of his director identification number.\n\nThe Board focuses on maintaining an appropriate mix of diversity and skills in its membership. This includes relevant industry experience, finance and risk, compliance and people management and international business and mergers and acquisition experience. There are 37.5% of directors identifying themselves as female and over 75% of the board have been in their role for < 3 years.", "table_ids": [], "figure_ids": [], "page_start": 61, "page_end": 61, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "61", "printed_page_end": "61", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-charters-and-policies", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Governance", "Charters and policies"], "heading": "Charters and policies", "text": "In FY26 our corporate governance framework continued to evolve in line with ASX guidance and recommendations. All employees and Directors are required to review all corporate governance policies.", "table_ids": [], "figure_ids": [], "page_start": 62, "page_end": 62, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "62", "printed_page_end": "62", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-risk-management-framework", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Governance", "Risk management framework"], "heading": "Risk management framework", "text": "The Audit and Risk Committee, supplemented as needed by the leadership team, have primary responsibility for the Tetratherix risk management framework. The approach is structured to consistently identify, evaluate and manage risks arising from our activities and decisions and operate within our agreed risk appetite. As part of Audit and Risk Committee governance a review of Tetratherix’s risk register is performed twice each FY. The leadership team also  incorporates the risk management framework into business decisions.", "table_ids": [], "figure_ids": [], "page_start": 62, "page_end": 62, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "62", "printed_page_end": "62", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-board-skill-matrix-score", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Governance", "Board Skill Matrix Score"], "heading": "Board Skill Matrix Score", "text": "Experienced\n\nExpert\n\nLimited Experience", "table_ids": ["tbl-curated-p62-board-skills-matrix"], "figure_ids": [], "page_start": 62, "page_end": 62, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "62", "printed_page_end": "62", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-corporate-governance-structure", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Governance", "Corporate Governance Structure"], "heading": "Corporate Governance Structure", "text": "Our corporate governance framework provides a structure for effective, objective and responsible decisions. The Board with assistance from the Audit and Risk and the Nomination and Remuneration Committee:\n\napproves Tetratherix’s strategic objectives, budgets and statutory reporting; monitors operational and financial performance and people and culture strategy;\n\ndefines the risk appetite for Tetratherix’s executive team to operate and oversees the risk management framework, internal controls environment and compliance systems; and\n\noversees Tetratherix’s management, performance and corporate governance frameworks ensuring mechanisms are\n\nin place for timely and balanced disclosures to shareholders and the market.\n\nProcesses are in place to facilitate delegation flows through the Board and its committees to the CEO and leadership team. This framework also enables information flow and accountability from our people, to the leadership team and to the Board.\n\nFor more detailed information on the Tetratherix Corporate Governance approach please see our detailed information on our [investor hub](https://investors.tetratherix.com/corporate-governance).", "table_ids": [], "figure_ids": [], "page_start": 63, "page_end": 63, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "63", "printed_page_end": "63", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-directors", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors Information", "Directors"], "heading": "Directors", "text": "The following persons were directors of Tetratherix Limited (the Company or Consolidated entity) during the whole of the financial year and up to the date of this report, unless otherwise stated:\n\nEmma Cleary – Chair and Non-Executive Director William Knox – Executive Director Dr Ali Fathi – Executive Director Peter Gray – Non-Executive Director (appointed 15 December 2025) John Kelly – Non-Executive Director Gillian Shea – Non-Executive Director Atlanta Daniel – Non-Executive Director Maurizio Vecchione – Non-Executive Director (appointed 21 January 2026) David Bottomley - Non-Executive Director  (retired 15 December 2025)\n\nInformation about Director’s qualifications, skills and experience, specific Tetratherix responsibilities and other external appointments are outlined in the governance section of this report.\n\nPrincipal activities Tetratherix is a biomedical company that has developed an advanced biomaterial platform called Tetramatrix™, a proprietary fluid matrix that induces minimal foreign body reaction. The principal activities include development programs in the areas of regenerative medicine and commercialising medical device technology across multiple applications including Bone Regeneration, Tissue Spacing, Tissue Healing and Precision Medicine.\n\nDividends There were no dividends paid, recommended or declared during the current or previous financial year.\n\nReview of operations The loss for the Consolidated entity after providing for income tax amounted to a loss of $9,320,535 (30 June 2025: loss of $9,425,552)\n\nSignificant changes in the state of affairs There were no significant changes in the state of affairs of the Consolidated entity during the financial year.\n\nLikely developments and expected results Likely developments and expected results of the Company are set out in the Strategic Framework and Operational Overview  section on pages  44 to 47 of this Annual Report and are incorporated into, and form part of, this Directors’ Report.\n\nEnvironmental regulation AASB S2 ‘Climate-related Disclosures’ sets out specific climate related disclosures. It applies to entities required to prepare and lodge a financial report with ASIC under Chapter 2M and is effective for different entities based on certain criteria. This mandatory sustainability reporting may be applicable for the Company in the future.", "table_ids": [], "figure_ids": [], "page_start": 64, "page_end": 64, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "64", "printed_page_end": "64", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-matters-subsequent-to-the-end-of", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Matters subsequent to the end of the financial year"], "heading": "Matters subsequent to the end of the financial year", "text": "There are no matters subsequent to the end of the financial year that may significantly affect the\n\nconsolidated entity’s operations, the results of those operations, or the Consolidated Entity’s state of affairs in\n\nfuture financial years.", "table_ids": [], "figure_ids": [], "page_start": 65, "page_end": 65, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "65", "printed_page_end": "65", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-meetings-of-directors", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Matters subsequent to the end of the financial year", "Meetings of Directors"], "heading": "Meetings of Directors", "text": "The number of meetings of the Board held during FY2026 and the number of meetings attended by each director were:\n\nHeld: represents the number of meetings held during the time the director held office. * attendance as an observer. Directors’ interests in the securities of Tetratherix\n\nDetails with respect to shares are per below:\n\nOrdinary Shares Note 1:  Ordinary shares Note 2:  Escrowed shares 24 months from quotation Note 3:  Escrowed shares FY26 results\n\n*Placement shares:  Related Parties of Gillian Shea and Atlanta Daniel purchased additional shares during May 2026 placement, the shares are subject to shareholder approval at the FY26 AGM and are excluded in the above table.", "table_ids": ["tbl-curated-p66-meetings-of-directors-attendance", "tbl-curated-p66-directors-interests-in-the-securities-of-tetrath"], "figure_ids": [], "page_start": 66, "page_end": 66, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "66", "printed_page_end": "66", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-directors-profiles", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors Profiles"], "heading": "Directors Profiles", "text": "Other current directorships: are current directorships for listed entities only and excludes directorships of all other types of entities, unless otherwise stated.\n\nFormer directorships (last 3 years): are directorships held in the last 3 years for listed entities only and excludes directorships of all other types of entities, unless otherwise stated.\n\nAudit and Risk Committee\n\nNomination and Remuneration Committee", "table_ids": [], "figure_ids": [], "page_start": 67, "page_end": 68, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "67", "printed_page_end": "68", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-emma-cleary-non-executive-chair-2", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors Profiles", "Emma Cleary Non-Executive Chair"], "heading": "Emma Cleary Non-Executive Chair", "text": "Special responsibilities: Member of the Audit and Risk Committee and Nomination and Remuneration Committee\n\nEmma was appointed to the Board in March 2025 and is Chair of the Board. She holds a Bachelor of Business, Accounting and Economics (Deakin University), is a member of Chartered Accountants Australia and New Zealand and a graduate of the Australia Institute of Company Directors.\n\nEmma is currently a non-executive director of Device Technologies and has been with that company for nearly 20 years, previously holding the positions of executive director / Chief Operating Officer (2016 to 2020) and Chief Financial Officer (2005 to 2016). During this period Emma was also non-executive director and vice chair of the Medical Technology Association of Australia.\n\nCurrent directorships: Chair Neo-Bionica, Non Executive Director of Device Technology and Non-Executive director of the Macular Disease Foundation of Australia.", "table_ids": [], "figure_ids": [], "page_start": 67, "page_end": 67, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "67", "printed_page_end": "67", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-william-knox-executive-director-and-ceo", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors Profiles", "William Knox Executive Director and CEO"], "heading": "William Knox Executive Director and CEO", "text": "William (Will) was appointed as Chief Executive Officer in September 2021. Will has over 20 years of leadership experience in the commercial development of medical technologies and healthcare innovations.\n\nHis previous role was Senior Business Manager for Device Technologies following their acquisition of uHealth in 2017 - a regenerative biologic company he established in 2013. Prior to founding uHealth, Will has held commercial leadership roles at Cochlear (ASX:COH), Medtronic (NYSE:MDT) and Life Healthcare.\n\nWill holds a Bachelor of Medical Science (B.MedSc) from the University of Technology Sydney, graduated from the Wharton School’s Executive development Program and is a member of the Australian Institute of Company Directors (MAICD). Will is a General Partner of Bioshore Ventures Pty Ltd. - an investor and operator of early stage medical and biotech companies.", "table_ids": [], "figure_ids": [], "page_start": 67, "page_end": 67, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "67", "printed_page_end": "67", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-dr-ali-fathi-executive-director-founder", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors Profiles", "Dr Ali Fathi Executive Director, Founder and CTO"], "heading": "Dr Ali Fathi Executive Director, Founder and CTO", "text": "Special responsibilities: Member of the Audit and Risk Committee\n\nAs a co-founder, Ali has been involved with the Company since its inception and has held the office of director since 20 August 2015 and was subsequently appointed as Chief Technical Officer (CTO) in September 2021.\n\nAli is an inventor and entrepreneur with a main passion for translational technologies in regenerative medicine. Prior to founding the Company, Ali held a number of positions with the University of Sydney through 2011 to 2016 initially as Researcher, then Industrial Research Manager and Lecturer Assistant. He was also engaged as a mechanical engineer at Dagenham Motors (London, United Kingdom) throughout 2008 and 2009.\n\nAli holds a PhD in Chemical and Biomolecular Engineering, Polymer and Bioengineering, and a Master of Professional Engineering, Chemical and Biomolecular Engineering. He was also awarded the University of Sydney’s Young Alumni Award for Entrepreneurial and Leadership.\n\nAudit and Risk Committee\n\nNomination and Remuneration Committee", "table_ids": [], "figure_ids": [], "page_start": 67, "page_end": 68, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "67", "printed_page_end": "68", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-peter-gray-non-executive-director", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors Profiles", "Peter Gray Non-Executive Director"], "heading": "Peter Gray Non-Executive Director", "text": "Peter is the Co-founder and Head of Strategic Growth, ANZ of Zip Co (ASX: ZIP) (Zip), a leading Australian fintech innovator providing fair, flexible, and seamless solutions that help people pay, manage their budgets, and live better. With a deep commitment to culture and customer experience, Mr. Gray has played a central role in shaping Zip’s values and vision. Under his leadership, Zip has continually challenged the traditional financial services landscape, growing from a local startup into a global leader with millions of customers and a vast network of retail partners.\n\nDrawing on more than 30 years of experience in the financial services industry, Mr. Gray brings extensive expertise in building and scaling innovative businesses within highly regulated environments. His career includes seven years as an ASX director, and he is recognised for his ability to balance entrepreneurial ambition with disciplined governance.\n\nMr. Gray remains passionate about challenging the status quo, fostering innovation, and supporting founders who are redefining industries and creating the next generation of game-changing businesses.", "table_ids": [], "figure_ids": [], "page_start": 68, "page_end": 68, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "68", "printed_page_end": "68", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-gillian-shea-non-executive-director", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors Profiles", "Gillian Shea Non-Executive Director"], "heading": "Gillian Shea Non-Executive Director", "text": "Special responsibilities: Chair of the Audit and Risk Committee\n\nGillian was appointed as a Non- Executive Director in March 2025. She holds a Bachelor of Business, Accounting and Finance (University of Technology Sydney), is a member of Chartered Accountants Australia and New Zealand and a graduate of the Australian Institute of Company Directors.\n\nGillian has over 25 years of audit and financial reporting experience, and was a Registered Company Auditor. She was an audit partner at BDO where she had numerous ASX listed clients. Prior to BDO, Gillian was Director of EY in their Assurance practice.\n\nCurrent directorships: Non-executive director of the Macular Disease Foundation of Australia, Non-executive director of Stone and Chalk Limited, and is also the Chair of the Audit and Risk Committee of the latter.", "table_ids": [], "figure_ids": [], "page_start": 68, "page_end": 68, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "68", "printed_page_end": "68", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-john-kelly-non-executive-director", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors Profiles", "John Kelly Non-Executive Director"], "heading": "John Kelly Non-Executive Director", "text": "Special responsibilities: Member of the Nomination and Remuneration Committee\n\nJohn was appointed as a Non- Executive Director in May 2025. John is a highly accomplished executive and company director with extensive experience in the medical device industry including from ideation to advance manufacturing and regulatory approval. John led Atomo (ASX:AT1) through the development of a novel rapid test platform, securing key regulatory approvals and its initial public offering on ASX.\n\nPrior to that John was COO at ASX- listed Unilife where he led the creation of the ‘Unifill’ glass prefilled drug delivery device (licenced to Sanofi Aventis). He also spent five years at ResMed managing the New Product Implementation Group and helping develop the breakthrough Activa and Swift mask systems.\n\nJohn has an Honours Degree in Mechanical Engineering from the University of Liverpool, a Master’s Degree in Systems Engineering from Queen’s University Belfast, and an Executive MBA from the University of Sydney, where he was awarded the Business School ‘sinaugural ‘Excellence in Leadership’ scholarship.\n\nCurrent directorships: Executive Director Atomo (ASX:AT1)", "table_ids": [], "figure_ids": [], "page_start": 68, "page_end": 68, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "68", "printed_page_end": "68", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-maurizio-vecchione-non-executive-director", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors and Company Secretary Profiles", "Maurizio Vecchione Non-Executive Director"], "heading": "Maurizio Vecchione Non-Executive Director", "text": "Maurizio was appointed as a Non- Executive Director in January 2026. Maurizio Vecchione is the Chief Innovation Officer of the Terasaki Institute for Biomedical Innovation and General Partner at AdAstral Funds, he is also named on multiple patents filed in the United States.\n\nMaurizio has spent the last 30 years at the forefront of biomedicine. He has helped build nine startups and launch more than 50 commercial products. His prior experience includes being CEO at Arrogene Nanotechnology, CompuMED, Trestle and multiple other science companies.\n\nBetween 2013 and 2020 Maurizio was the Executive Vice President for Global Good and Research at Intellectual Ventures Laboratory which he built and led, with funding from the Bill and Melinda Gates Foundation Trust. In collaboration with Bill Gates, he simultaneously managed the Global Good Fund, the research programs of the Intellectual Ventures Laboratory and the Institute for Disease Modelling. He serves on the Advisory Board of the UCLA Ronald Reagan Medical Centre. He was an invited panellist and speaker at many international conferences including at the Nobel Prize Summit 2021.\n\nMaurizio holds a Master of Science from the University of Arizona and a Physics degree from the University of California, Berkeley.", "table_ids": [], "figure_ids": [], "page_start": 69, "page_end": 69, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "69", "printed_page_end": "69", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-atlanta-daniel-non-executive-director", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors and Company Secretary Profiles", "Atlanta Daniel Non-Executive Director"], "heading": "Atlanta Daniel Non-Executive Director", "text": "Special responsibilities: Chair of the Nomination and Remuneration Committee\n\nAtlanta was appointed as a Non- Executive Director in April 2025. Atlanta nurtures visionary founders who are redefining their industry. She is a General Partner and Managing Director at Radar Ventures, a significant investor in the Company.\n\nA commercially minded venture capital investor, Atlanta co-founded Radar Ventures with Xero founder Rod Drury. Radar backs early-stage deep tech businesses across medical, sustainability and defence sectors.\n\nWith a career spanning venture investment, enterprise SaaS, consumer technology, and branding, Atlanta brings deep expertise in scaling innovative, IP- driven businesses. Previous advisory roles include engagements with AIM, a developer of advanced laser systems integrated with AI, and Airwallex, a global payments and financial platform.", "table_ids": [], "figure_ids": [], "page_start": 69, "page_end": 69, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "69", "printed_page_end": "69", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-jacob-pfeffer-company-secretary", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Directors and Company Secretary Profiles", "Jacob Pfeffer Company Secretary"], "heading": "Jacob Pfeffer Company Secretary", "text": "Jacob was appointed Company Secretary effective 19 December 2025.\n\nJacob has practised at leading Australian and English law firms and acted as legal advisor to Tetratherix and the Board on the IPO and ASX Listing in June 2025, he has held the position of General Counsel since October 2025. He was additionally appointed Chief of Staff in February 2026.\n\nJacob holds a Juris Doctor from the University of Sydney, a Masters in Applied Finance and Bachelor of Business from QUT.", "table_ids": [], "figure_ids": [], "page_start": 69, "page_end": 69, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "69", "printed_page_end": "69", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-david-bottomley-non-executive-director", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Retired Directors Profiles", "David Bottomley Non-Executive Director"], "heading": "David Bottomley Non-Executive Director", "text": "David retired as a Non-Executive Director on 15 December 2025, after serving on the Board for a period of over five years. David has over 25 years’ experience in equity capital markets, corporate finance, M&A and venture capital. David has previously held investment banking roles at Kleinwort Benson, Merrill Lynch & Co and GMCG, LLC.\n\nDavid is a General Partner of Bioshore Ventures Pty Ltd. David served as executive and portfolio manager of Ryder Capital Limited(ASX:RYD) from 2015 to March 2025.\n\nDavid holds a Bachelor of Arts (Economic History) from the University of Sydney, Bachelor of Laws from Bond University and is a Fellow of the Financial Services Instituteof Australasia.", "table_ids": [], "figure_ids": [], "page_start": 70, "page_end": 70, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "70", "printed_page_end": "70", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-william-knox-executive-director-and-ceo-2", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Group Executive Team", "William Knox Executive Director and CEO"], "heading": "William Knox Executive Director and CEO", "text": "William (Will) was appointed as Chief Executive Officer in September 2021. Will has over 20 years of leadership experience in the commercial development of medical technologies and healthcare innovations.\n\nHis previous role was Senior Business Manager for Device Technologies following their acquisition of uHealth in 2017 - a regenerative biologic company he established in 2013. Prior to founding uHealth, Will has held commercial leadership roles at Cochlear (ASX:COH), Medtronic (NYSE:MDT) and Life Healthcare.\n\nWill holds a Bachelor of Medical Science (B.MedSc) from the University of Technology Sydney, graduated from the Wharton School’s Executive development Program and is a member of the Australian Institute of Company Directors (MAICD). Will is a General Partner of Bioshore Ventures Pty Ltd. - an investor and operator of early stage medical and biotech companies.", "table_ids": [], "figure_ids": [], "page_start": 71, "page_end": 71, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "71", "printed_page_end": "71", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-dr-ali-fathi-executive-director-founder-2", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Group Executive Team", "Dr Ali Fathi Executive Director, Founder and CTO"], "heading": "Dr Ali Fathi Executive Director, Founder and CTO", "text": "As a co-founder, Ali has been involved with the Company since its inception and has held the office of director since 20 August 2015 and was subsequently appointed as Chief Technical Officer (CTO) in September 2021.\n\nAli is an inventor and entrepreneur with a main passion for translational technologies in regenerative medicine. Prior to founding the Company, Ali held a number of positions with the University of Sydney through 2011 to 2016 initially as Researcher, then Industrial Research Manager and Lecturer Assistant. He was also engaged as a mechanical engineer at Dagenham Motors (London, United Kingdom) throughout 2008 and 2009.\n\nAli holds a PhD in Chemical and Biomolecular Engineering, Polymer and Bioengineering, and a Master of Professional Engineering, Chemical and Biomolecular Engineering. He was also awarded the University of Sydney’s Young Alumni Award for Entrepreneurial and Leadership.", "table_ids": [], "figure_ids": [], "page_start": 71, "page_end": 71, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "71", "printed_page_end": "71", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-cherie-beach-chief-financial-officer-cfo", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Group Executive Team", "Cherie Beach Chief Financial Officer (CFO)"], "heading": "Cherie Beach Chief Financial Officer (CFO)", "text": "Cherie Beach was appointed on 15 January 2025 as Chief Financial Officer. She is a senior executive, with a growth mindset and proven delivery capability in developing and executing long term strategy for sustainable growth.\n\nWith over 20 years of leadership experience, Cherie has previously held the roles of Vice President Global Finance, Strategic Planning and Partnering at Cochlear, Senior Director Finance and Strategy Asia Pacific Consumer Health and Interim CFO at Johnson and Johnson Asia Pacific Consumer Health, amongst other roles.\n\nCherie holds a Bachelor of Commerce (Western Sydney University), an MBA (Deakin University) and is a Chartered Accountant Australia New Zealand, a fellow of CPA Australia and a graduate of the Australian Institute of Company Directors.", "table_ids": [], "figure_ids": [], "page_start": 71, "page_end": 71, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "71", "printed_page_end": "71", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-terence-abrams-founder-and-coo", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Group Executive Team", "Terence Abrams Founder and COO"], "heading": "Terence Abrams Founder and COO", "text": "As a co-founder, Terence Abrams has been involved with Tetratherix from its inception and has held the role of Chief Operating Officer since September 2015. He holds a Bachelor of Engineering (University of Sydney).\n\nAs an engineer, Terence’s experience and his understanding of bespoke chemical manufacturing has made him instrumental in process design and optimisation to allow production of Tetramatrix™ at scale.\n\nTerence has incorporated his Chemical Engineering background and experience in compounding pharmacy to design the required infrastructure and the chemical processing steps in the synthesis of the core polymers and subsequently in the manufacturing of the derived products from Tetramatrix™ platform technology.", "table_ids": [], "figure_ids": [], "page_start": 71, "page_end": 71, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "71", "printed_page_end": "71", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-remuneration-report-audited", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Remuneration Report (Audited)"], "heading": "Remuneration Report (Audited)", "text": "The remuneration report details the key management personnel remuneration arrangements for the Consolidated entity, in accordance with the requirements of the Corporations Act 2001 and its Regulations.\n\nKey management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including all directors.\n\nFrom September 2025, the Nomination and Remuneration Committee (NRC) has been responsible in determining and reviewing remuneration arrangements for its directors and executives.\n\nThe performance of the Consolidated entity depends on the quality of its directors and executives. In accordance with best practice corporate governance, the structure of non-executive director and executive director remuneration is separate.", "table_ids": [], "figure_ids": [], "page_start": 72, "page_end": 72, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "72", "printed_page_end": "72", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-remuneration-governance", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Remuneration Report (Audited)", "Remuneration Governance"], "heading": "Remuneration Governance", "text": "The Nomination and Remuneration Committee (NRC), consisting of at least two independent non-executive directors, advises the Board on remuneration policies and practices generally, and makes recommendations on remuneration packages and other terms of employment for non-executive directors, KMP executives and other senior executives.\n\nWhere required, external remuneration advice may be sought by the NRC or the Board. The Board approves the remuneration arrangements of the CEO, including awards made under the STI and LTI plans, following recommendations from the NRC.\n\nThe Board approves, having regard to recommendations made by the CEO to the NRC, the level of remuneration, including STI and LTI awards, for other KMP executives. The Board also sets the aggregate fee pool for non-executive directors (which is subject to shareholder approval) and non-executive director fee levels.\n\nThe company’s remuneration structure aims to:\n\nattract and retain exceptional people to lead and manage the group and to support the internal development of executive talent within the group, recognising that Tetratherix  is operating in a competitive global industry environment;\n\nalign KMP and executive remuneration structures to shareholder returns, as executives are set both short- term and long-term performance targets, which are linked to the core activities necessary to build competitive advantages and shareholder value;\n\nmotivate and reward the executive team whilst aligning performance elements/KPIs to the interests of shareholders; and\n\ncreate a respectful culture based on performance and innovation through appropriately structured individual assessments.\n\nInformation on the NRC’s role, responsibilities and membership is outlined in the charter available on the Company’s website:\n\nNomination and Remuneration Committee charter", "table_ids": [], "figure_ids": [], "page_start": 72, "page_end": 72, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "72", "printed_page_end": "72", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-non-executive-directors-remuneration", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Remuneration Report (Audited)", "Non-Executive Directors’ Remuneration"], "heading": "Non-Executive Directors’ Remuneration", "text": "Fees and payments to non-executive directors reflect the demands and responsibilities of their role. Non- executive directors’ fees and payments are to be reviewed annually by the NRC. The NRC may, from time to time, receive advice from independent remuneration consultants to ensure non-executive directors’ fees and payments are appropriate and in line with the market.\n\nThe chair’s fees are determined independently to the fees of other non-executive directors based on comparative roles in the external market. The chair is not present at any discussions relating to the determination of her own remuneration.\n\nNon-executive directors did not receive bonuses or forms of equity securities, or any performance-related remuneration during the financial year. Statutory superannuation contributions are required under the Australian superannuation guarantee legislation to be paid on any fees paid to Australian directors. There are no retirement allowances paid to non-executive directors. The non-executive directors’ fees reported below include any statutory superannuation contributions.\n\nIn accordance with the ASX Listing Rules, the aggregate remuneration of Non‑Executive Directors must be determined periodically by shareholders at an annual general meeting. The first Annual General Meeting of the Consolidated entity was held on 10 November 2025, at which shareholders resolved to adopt the Remuneration Report.", "table_ids": [], "figure_ids": [], "page_start": 73, "page_end": 73, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "73", "printed_page_end": "73", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-a-approach-to-setting-and-reviewing", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Remuneration Report (Audited)", "(a) Approach to Setting and Reviewing Remuneration"], "heading": "(a) Approach to Setting and Reviewing Remuneration", "text": "The Consolidated entity aims to reward executives with a level and mix of remuneration appropriate to their position, skills, experience, and responsibilities whilst being market competitive and enabling the company to retain staff and, at the same time, structuring awards which conserve cash reserves.\n\nThe NRC, together with the Board, actively reviews the group’s remuneration structure and benchmarks the overall package and proportion of fixed remuneration, short-term incentives and long-term incentives against relevant industry comparators to ensure the policy objectives are met and are in line with good corporate practice for Tetratherix’s size, industry and stage of development.\n\nRemuneration levels are considered annually through the remuneration review, which considers industry benchmarks and the performance of the group and the individual.\n\nThe Consolidated entity undertakes remuneration benchmarking each year with reference to multiple industry peers, together with, where appropriate, other benchmarking reports which apply to specific positions. A group of peer companies from within the medical device/biotechnology sector are included in the benchmarking exercise.", "table_ids": [], "figure_ids": [], "page_start": 73, "page_end": 73, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "73", "printed_page_end": "73", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-b-remuneration-principles-and-strategy", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Remuneration Report (Audited)", "(b) Remuneration Principles and Strategy"], "heading": "(b) Remuneration Principles and Strategy", "text": "The Consolidated entity’s executive remuneration strategy is designed to attract, motivate and retain high- performing individuals and align the interests of executives with shareholders, recognising it is operating in the international medical device and biotechnology industries, and is summarised below.\n\nAlign the interests of executives with shareholders: Attract, motivate and retain high performing individuals:\n\nThe remuneration framework incorporates “at risk” components, which are determined by performance, through STI and LTI.\n\nPerformance is assessed against a suite of measures relevant to the success of the group and generating growth and returns for shareholders.", "table_ids": ["tbl-curated-p74-executive-remuneration-framework"], "figure_ids": [], "page_start": 74, "page_end": 74, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "74", "printed_page_end": "74", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-remuneration-strategy-linked-to-group-objectives", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Remuneration Report (Audited)", "(b) Remuneration Principles and Strategy", "Remuneration strategy linked to group objectives"], "heading": "Remuneration strategy linked to group objectives", "text": "The remuneration offering is competitive based on an individual’s experience and for companies of similar size and complexity within the industry through benchmarking.\n\nThe mix of short and current TTX shareholdings encourages retention and performance across multiple years as appropriate for the lifecycle of the group.", "table_ids": [], "figure_ids": [], "page_start": 74, "page_end": 74, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "74", "printed_page_end": "74", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-remuneration-review-process", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Remuneration Review Process"], "heading": "Remuneration Review Process", "text": "New contracts for all executives in FY26 were signed following the inaugural meeting of the NRC in September 2025.\n\nThe NRC conducted a review of executive remuneration within a listed environment by benchmarking market data for comparable companies.\n\nThe NRC also established the annual targets and key performance indicators (both non-financial and financial), as appropriate to the size and state of the newly listed entity, to be used in measuring executive performance for the purposes of awarding STIs and LTIs.\n\nThe NRC also considered the target remuneration mix within the remuneration and reward framework.", "table_ids": [], "figure_ids": [], "page_start": 75, "page_end": 75, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "75", "printed_page_end": "75", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-details-of-remuneration", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Details of Remuneration"], "heading": "Details of Remuneration", "text": "Amounts of Remuneration Details of the remuneration of key management personnel of the Consolidated entity are set out in the following tables. The key management personnel of the Consolidated entity consisted of the following directors of Tetratherix Limited:\n\nEmma Cleary - Chair and Director William Knox – CEO, Director\n\nAli Fathi – CTO, Director\n\nGillian Shea – Director\n\nAtlanta Daniel – Director Peter Gray – Director\n\nJohn Kelly – Director\n\nMaurizio Vecchione - Director David Bottomley - Director (retired December 2025)\n\nAnd the following persons:\n\nCherie Beach - Chief Financial Officer\n\nTerence Abrams – Chief Operating Officer", "table_ids": [], "figure_ids": [], "page_start": 75, "page_end": 75, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "75", "printed_page_end": "75", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-relationship-between-remuneration-and-performance", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Relationship Between Remuneration and Performance"], "heading": "Relationship Between Remuneration and Performance", "text": "In determining FY26 STI outcomes, the Board and the Nomination and Remuneration Committee assessed performance against a range of measures directly aligned to the Company's key business priorities for the year.\n\nThese include:\n\nAchievement of Research and Development milestones in accordance with defined program objectives, Successful execution of strategic partnership agreements supporting the Company's commercialisation strategy Commencement of the manufacturing upscale program together with Quality Management System (QMS) re- accreditation Delivery of financial results consistent with commitments made under the Company's Use of Funds (UOF) statement. Expansion of a high performing team with zero regrettable losses and reward via the Company’s performance rights plan\n\nFurther details are outlined in the FY26 business highlights in the Directors’ report section.\n\nHaving reviewed performance against each of these measures, the Board and Nomination and Remuneration Committee concluded that the FY26 STI awards were appropriately earned, reflecting the executive team's contribution in advancing Tetratherix's commercial, operational, and financial objectives during the year supporting the Company's transition toward sustainable manufacturing revenue.\n\nThe Board notes the following in relation to shareholder wealth: no dividends were paid or payable to shareholders during FY26; there was no return of capital involving a cancellation of shares during the year; and the price of the Company's shares increased from $3.06 opening price on 1 July 2025 to $6.00 closing price on 30 June 2026; a 96% increase over the period.", "table_ids": [], "figure_ids": [], "page_start": 75, "page_end": 75, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "75", "printed_page_end": "75", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-non-executive-directors-executive-directors-other", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Relationship Between Remuneration and Performance", "Non Executive Directors Executive Directors Other KMP"], "heading": "Non Executive Directors Executive Directors Other KMP", "text": "The maximum and actual annual directors’ fees payable to each non-executive director (NED), as currently approved by the Board/Nom Committee per annum inclusive of superannuation is as follows:\n\n$180,000 for the Chair of Board; $80,000 for NEDs $20,000 additional for NEDs who chair the Audit & Risk or Nomination and Remuneration Committees\n\n* represents remuneration from 12 December 2025 ** retired from the Board in December 2025 Note Atlanta Daniel, David Bottomley and Maurizio Vecchione were offered board remuneration in FY26, however they declined this benefit.", "table_ids": ["tbl-curated-p76-remuneration-of-key-management-personnel", "tbl-curated-p77-remuneration-mix-of-total", "tbl-curated-p77-cash-bonus-outcomes-of-maximum"], "figure_ids": [], "page_start": 76, "page_end": 77, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "76", "printed_page_end": "77", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-service-agreements", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Relationship Between Remuneration and Performance", "Service Agreements"], "heading": "Service Agreements", "text": "Remuneration and other terms of employment for key management personnel are formalised in service agreements. Details of these current agreements are as follows:\n\nName William Knox\n\nTitle Managing Director (and ChiefExecutive Officer)\n\nAgreement Commenced 1 September 2025\n\nNotice Period 12 Weeks\n\nDetails\n\nBase salary for the year ending 30 June 2026 of $500,000 (excluding statutory superannuation).\n\nWilliam is entitled to a short-term incentive of $250,000  (excluding statutory superannuation), subject to board approval and payable subject to completion of KPIs to deliver strategic priorities.\n\nAn annual merit review will be conducted by the NRC assessing external benchmarks, macro economic factors\n\nincluding Australian inflation trends and a pay for performance practice.\n\nName Dr Ali Fathi\n\nTitle Executive Director (and Chief Technology Officer)\n\nAgreement Commenced 1 September 2025\n\nNotice Period 12 Weeks\n\nDetails\n\nBase salary for the year ending 30 June 2026 of $410,000 (excluding statutory superannuation).\n\nAli is entitled to a short-term incentive of $200,000 (excluding statutory superannuation), subject to board approval and  payable subject to completion of KPIs to deliver strategic priorities.\n\nAn annual merit review will be conducted by the NRC assessing external benchmarks, macro economic factors including Australian inflation trends and a pay for performance practice.\n\nName Cherie Beach\n\nTitle Chief Financial Officer\n\nAgreement Commenced 15 January 2025\n\nNotice Period 12 Weeks\n\nDetails\n\nBase salary for the year ending 30 June 2026 of $370,000 (excluding statutory superannuation). Cherie is entitled to a short-term incentive of $160,000  (excluding statutory superannuation), subject to board\n\napproval  and payable subject to completion of KPIs to deliver strategic priorities. An annual merit review will be conducted by the NRC assessing external benchmarks, macro economic factors including Australian inflation trends and a pay for performance practice.\n\nName Terence Abrams\n\nTitle Chief Operating Officer\n\nAgreement Commenced 1 September 2025\n\nNotice Period 12 Weeks\n\nDetails\n\nBase salary for the year ending 30 June 2026 of $330,000 (excluding statutory superannuation). Terence is entitled to a short-term incentive of $140,000 of base salary  (excluding statutory superannuation),\n\nsubject to board approval  and payable subject to completion of KPIs to deliver strategic priorities.\n\nAn annual merit review will be conducted by the NRC assessing external benchmarks, macro economic factors including Australian inflation trends and a pay for performance practice.\n\nKey management personnel have no entitlement to termination payments in the event of removal for misconduct.", "table_ids": [], "figure_ids": [], "page_start": 78, "page_end": 79, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "78", "printed_page_end": "79", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-share-based-compensation", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Share-Based Compensation"], "heading": "Share-Based Compensation", "text": "*  Cherie Beach’s performance rights are held by CB & MS Holdings Pty Limited, an entity associated with Cherie Beach.\n\nThe performance rights are equity-settled share-based payments. Shares issued on vesting of performance rights are issued for nil cash consideration. The fair value of the rights granted during the year was determined at the grant date. As the vesting condition comprises continued service only, the fair value of each performance right is equal to the market price of the Company's ordinary shares at grant date. A valuation was also performed using the Black-Scholes option pricing model and no material difference was identified compared to the fair value determined as the market price of the Company's ordinary shares at grant date.", "table_ids": ["tbl-curated-p80-performance-rights-granted"], "figure_ids": [], "page_start": 80, "page_end": 80, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "80", "printed_page_end": "80", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-additional-disclosures-relating-to-key-management", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Additional Disclosures Relating to Key Management Personnel"], "heading": "Additional Disclosures Relating to Key Management Personnel", "text": "Shareholding The number of shares in the Company held during the financial year by each director and other members of key management personnel of the Consolidated entity, including their personally related parties, is set out below:\n\n*Placement shares Related parties of Gillian Shea and Atlanta Daniel purchased additional shares as part of the placement. The shares are subject to shareholder approval at the FY26 AGM and are excluded from the above table. ** David Bottomley held shares during the FY26 year. He retired as a director in December 2025.\n\nPerformance rights\n\nThe number of performance rights in the Company held during the financial year by each director and other members of key management personnel of the Consolidated entity, including their personally related parties, is set out below:", "table_ids": ["tbl-curated-p81-kmp-shareholdings", "tbl-curated-p82-performance-rights-movement"], "figure_ids": [], "page_start": 81, "page_end": 82, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "81", "printed_page_end": "82", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-shares-under-performance-rights", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Additional Disclosures Relating to Key Management Personnel", "Shares under performance rights"], "heading": "Shares under performance rights", "text": "Unissued ordinary shares of Tetratherix Limited issued under the performance rights plan at the date of this report are as follows:\n\nGranted date Vesting date Exercise price Number under\n\nrights", "table_ids": ["tbl-curated-p83-performance-rights-by-grant"], "figure_ids": [], "page_start": 83, "page_end": 83, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "83", "printed_page_end": "83", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-vesting-date-exercise-price-number-of", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Additional Disclosures Relating to Key Management Personnel", "Shares issued on the vesting of performance rights", "Vesting date Exercise price Number of shares issued"], "heading": "Vesting date Exercise price Number of shares issued", "text": "", "table_ids": ["tbl-curated-p84-shares-issued-on-vesting-of-performance-rights"], "figure_ids": [], "page_start": 84, "page_end": 84, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "84", "printed_page_end": "84", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-indemnity-and-insurance-of-officers", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Additional Disclosures Relating to Key Management Personnel", "Shares issued on the vesting of performance rights", "Indemnity and Insurance of officers"], "heading": "Indemnity and Insurance of officers", "text": "The Company has indemnified the directors and executives of the Company for costs incurred, in their capacity as a director or executive, for which they may be held personally liable, except where there is a lack of good faith.\n\nDuring the financial year, the Company paid a premium in respect of a contract to insure the directors and executives of the Company against a liability to the extent permitted by the Corporations Act 2001.The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium.", "table_ids": [], "figure_ids": [], "page_start": 85, "page_end": 85, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "85", "printed_page_end": "85", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-non-audit-services", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Additional Disclosures Relating to Key Management Personnel", "Shares issued on the vesting of performance rights", "Non-audit services"], "heading": "Non-audit services", "text": "The non-audit services disclosed in Note 31 were provided in connection with matters undertaken prior to the Company's admission to the ASX. No non-audit services were provided by the auditor following listing.\n\nThe directors are satisfied that the provision of these services is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001.", "table_ids": [], "figure_ids": [], "page_start": 85, "page_end": 85, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "85", "printed_page_end": "85", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-proceedings-on-behalf-of-the-company", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Additional Disclosures Relating to Key Management Personnel", "Shares issued on the vesting of performance rights", "Proceedings on behalf of the Company"], "heading": "Proceedings on behalf of the Company", "text": "No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the Company for all or part of those proceedings.\n\nRounding of amounts The Company is an entity to which ASIC Corporations (Rounding in Financial/Directors' Reports) Instrument 2026/183 applies, and accordingly, amounts in this Directors' Report have been rounded to the nearest thousand dollars, and the nearest whole dollar in the financial statements unless otherwise stated", "table_ids": [], "figure_ids": [], "page_start": 85, "page_end": 85, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "85", "printed_page_end": "85", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-auditors-independence-declaration", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["03. Directors' Report", "Additional Disclosures Relating to Key Management Personnel", "Shares issued on the vesting of performance rights", "Auditors independence declaration"], "heading": "Auditors independence declaration", "text": "A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors’ report.\n\nThis report is made in accordance with a resolution of directors, pursuant to section 298(2)(a) of the Corporations Act 2001.\n\nOn behalf of the directors\n\nWilliam Anthony Knox Director\n\n20 August 2026 Sydney", "table_ids": [], "figure_ids": [], "page_start": 85, "page_end": 85, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "85", "printed_page_end": "85", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-04-auditor-s-independence-declaration", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["04. Auditor’s Independence Declaration"], "heading": "04. Auditor’s Independence Declaration", "text": "To the Board of Directors of Tetratherix Limited\n\nAuditor’s Independence Declaration under section 307C of the Corporations Act 2001\n\nAs lead auditor for the audit of the financial statements of Tetratherix Limited for the financial year ended 30 June 2026, I declare that to the best of my knowledge and belief, there have been no contraventions of:\n\n(a) the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and\n\n(b) any applicable code of professional conduct in relation to the audit.\n\nYours sincerely\n\nNexia Sydney Audit Pty Ltd\n\nErin Tanyag\n\nDirector\n\nDated: 20 August 2026", "table_ids": [], "figure_ids": [], "page_start": 86, "page_end": 86, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "86", "printed_page_end": "86", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-independent-auditor-s-report-to-the", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142"], "heading": "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "text": "", "table_ids": ["tbl-consolidated-statement-of-profit-or-loss", "tbl-consolidated-statement-of-financial-position", "tbl-consolidated-statement-of-changes-in-equity", "tbl-consolidated-statement-of-cash-flows"], "figure_ids": [], "page_start": 89, "page_end": 89, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "89", "printed_page_end": "89", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-1-general-information", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 1. General Information"], "heading": "Note 1. General Information", "text": "The financial statements cover Tetratherix Limited as a Consolidated entity consisting of Tetratherix Limited and the entities it controlled at the end of, or during, the year. The financial statements are presented in Australian dollars, which is Tetratherix Limited's functional and presentation currency.\n\nTetratherix Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:\n\nUnit 29  34-36 Ralph Street Alexandria, NSW 2015\n\nA description of the nature of the Consolidated Entity's operations and its principal activities are included in the directors' report, which is not part of the financial statements.\n\nThe financial statements were authorised for issue, in accordance with a resolution of directors, on 28 August 2026. The directors have the power to amend and reissue the financial statements.", "table_ids": [], "figure_ids": [], "page_start": 94, "page_end": 94, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "94", "printed_page_end": "94", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-2-material-accounting-policy-information", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 2. Material Accounting Policy Information"], "heading": "Note 2. Material Accounting Policy Information", "text": "The accounting policies that are material to the Consolidated Entity are set out below. The accounting policies adopted are consistent with those of the previous financial year, unless otherwise stated.\n\nNew or amended Accounting Standards and Interpretations adopted\n\nThe Consolidated Entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the Consolidated Entity.\n\nAny new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.\n\nGoing Concern\n\nThe Group has prepared the financial statements for year ended 30 June 2026 on the going concern basis which assumes normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business.\n\nFor the year ended 30 June 2026, the Group incurred a loss of $9,320,535 (2025: $9,425,552) and incurred operating cash outflows of $2,376,614 (2025: $2,671,371). As at 30 June 2026, the Group had cash and cash equivalents of $34,364,884 (2025: $29,336,526), and net assets surplus of $32,726,762 (2025: $27,246,865).\n\nThe directors believe that:\n\nAs at 30 June 2026, the Group has $34,364,884 in cash and cash equivalents to ensure sufficient cash inflows to meet its obligations as they fall due over the next 12 months after signing date of these financial statements. Management has prepared a cash flow forecast for the next 12 months, considering expected operational inflows and outflows. Based on these forecasts, the Group expects to have adequate resources to continue in operational existence for beyond the next 12 months. As part of the IPO process, the company's prospectus outlines a detailed use of Funds from May 2025-June 2027 which demonstrates adequate funding over this period. This will continue to be reported on each quarter as part of the Company's Appendix 4C requirements. This has been supplemented by receipt of Superpower licence revenue, Industry Growth Program (IGP) grant income and May 2026 capital injection.\n\nBasis of Preparation\n\nThese general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') as appropriate for for- profit oriented entities. These financial statements also comply with IFRS Accounting Standards as issued by the International Accounting Standards Board ('IASB').\n\nHistorical Cost Convention The financial statements have been prepared under the historical cost convention, except for right of use assets and lease liabilities, and financial liabilities at fair value through profit or loss.\n\nCritical Accounting Estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Consolidated Entity's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3.\n\nParent Entity Information\n\nIn accordance with the Corporations Act 2001, these financial statements present the results of the Consolidated entity only. Supplementary information about the parent entity is disclosed in note 35.\n\nPrinciples of Consolidation\n\nThe consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Tetratherix Limited ('Company' or 'parent entity') as at 30 June 2026 and the results of all subsidiaries for the year then ended. Tetratherix Limited and its subsidiaries together are referred to in these financial statements as the 'Consolidated Entity'.\n\nSubsidiaries are all those entities over which the Consolidated Entity has control. The Consolidated Entity controls an entity when the Consolidated Entity is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Consolidated Entity. They are de-consolidated from the date that control ceases.\n\nIntercompany transactions, balances and unrealised gains on transactions between entities in the Consolidated Entity are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Consolidated Entity.\n\nThe acquisition of subsidiaries is accounted for using the acquisition method of accounting. A change in ownership interest, without the loss of control, is accounted for as an equity transaction, where the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent.\n\nWhere the Consolidated Entity loses control over a subsidiary, it derecognises the assets including goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity. The Consolidated Entity recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss.\n\nRevenue recognition\n\nThe Consolidated Entity recognises revenue as follows:\n\nGovernment Grants Government grants relating to costs are deferred and recognised in profit or loss over the period necessary to match them with the costs that they are intended to compensate. Refundable tax offsets received from the Australian Taxation Office (ATO), such as those under the Research and Development Tax Incentive program, are accounted for as government grants in accordance with AASB 120.\n\nInterest Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset.\n\nOther Income Other revenue is recognised when it is received or when the right to receive payment is established.\n\nLicence Fee Revenue The Company is entitled to receive licence fee payments under a research and development agreement with an external party. The Company retains ownership of the intellectual property (IP) and supports to the product development process.\n\nThe annual exclusivity arrangement comprises a combined performance obligation consisting of a right-to-access intellectual property licence together with related stand-ready obligations (including maintenance of exclusivity, regulatory support, and continued availability of technical platform support), which are not separately identifiable in the context of the contract.\n\nUnder AASB 15 Revenue from Contracts with Customers, this combined performance obligation is satisfied over time, as the customer simultaneously receives and consumes the benefits of the licence and stand-ready obligations as the Company performs. Revenue from licence fee payments is therefore recognised over the period of the licence.\n\nIncome Tax\n\nThe income tax expense or benefit for the period is the tax payable on that period's taxable income based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences, unused tax losses and the adjustment recognised for prior periods, where applicable.\n\nDeferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted, except for:\n\nwhen the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting nor taxable profits; or when the taxable temporary difference is associated with interests in subsidiaries, associates or joint ventures, and the timing of the reversal can be controlled, and it is probable that the temporary difference will not reverse in the foreseeable future.\n\nDeferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses.\n\nThe carrying amount of recognised and unrecognised deferred tax assets are reviewed at each reporting date. Deferred tax assets recognised are reduced to the extent that it is no longer probable that future taxable profits will be available for the carrying amount to be recovered. Previously unrecognised deferred tax assets are recognised to the extent that it is probable that there are future taxable profits available to recover the asset.\n\nDeferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously.\n\nCurrent and Non-Current Classification\n\nAssets and liabilities are presented in the statement of financial position based on current and non-current classification.\n\nAn asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the Consolidated Entity's normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current.\n\nA liability is classified as current when: it is either expected to be settled in the Consolidated Entity's normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no right at the end of the reporting period to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current.\n\nDeferred tax assets and liabilities are always classified as non-current.\n\nCash and Cash Equivalents\n\nCash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash, and which are subject to an insignificant risk of changes in value, and are held for the purpose of meeting short-term cash commitments rather than for investment purposes.\n\nTrade and Other Receivables\n\nOther receivables are recognised at amortised cost, less any allowance for expected credit losses.", "table_ids": [], "figure_ids": [], "page_start": 94, "page_end": 98, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "94", "printed_page_end": "98", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-inventories", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Inventories"], "heading": "Inventories", "text": "Raw materials, work in progress and finished goods are stated at the lower of cost and net realisable value using the standard cost method. Standard cost comprises of direct materials and delivery costs, direct labour, import duties and other taxes, an appropriate proportion of variable and fixed overhead expenditure based on normal operating capacity.\n\nNet realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.\n\nRaw materials and work in progress may have dual use, being available for consumption in either the Group's research and development activities or its manufacturing activities for commercial supply. Where inventory is identified as consumed for research and development purposes, the related cost is reclassified out of inventory and expensed to profit or loss as incurred.", "table_ids": [], "figure_ids": [], "page_start": 98, "page_end": 98, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "98", "printed_page_end": "98", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-prepayments", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Prepayments"], "heading": "Prepayments", "text": "Prepayments comprise of amounts paid in advance for goods and services to be received in future periods and are initially recognised at the amount paid. Prepayments are not subsequently remeasured other than for impairment, and are reviewed for recoverability where there is an indication that the related goods or services will not be received.\n\nPrepayments made in respect of property, plant and equipment represent deposits or instalments paid to suppliers prior to delivery, installation or completion of the asset, and are carried at cost until the risks and rewards of ownership transfer to the Group, at which point the amount is reclassified to the relevant class of property, plant and equipment.\n\nPrepaid insurance premiums are recognised as an asset and expensed on a straight-line basis over the period of insurance cover to which they relate, and are classified as current or non-current based on whether the related cover period falls within twelve months of the reporting date.\n\nOther prepayments are similarly recognised at cost and released to profit or loss as the associated goods or services are consumed or the underlying benefit expires.", "table_ids": [], "figure_ids": [], "page_start": 98, "page_end": 98, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "98", "printed_page_end": "98", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-2-material-accounting-policy-information-2", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 2. Material Accounting Policy Information (continued)"], "heading": "Note 2. Material Accounting Policy Information (continued)", "text": "Joint Ventures\n\nA joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Investments in joint ventures are accounted for using the equity method. Under the equity method, the share of the profits or losses of the joint venture is recognised in profit or loss and the share of the movements in equity is recognised in other comprehensive income. Investments in joint ventures are carried in the statement of financial position at cost plus post-acquisition changes in the Consolidated Entity's share of net assets of the joint venture. Goodwill relating to the joint venture is included in the carrying amount of the investment and is neither amortised nor individually tested for impairment. Income earned from joint venture entities reduce the carrying amount of the investment.\n\nProperty, Plant and Equipment\n\nPlant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items.\n\nDepreciation is calculated on a straight-line basis to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows: Leasehold improvements                                                 10 years Plant and equipment                                                            5-25 years Fixtures and fittings                                                               25 years Motor vehicles                                                                          8 years\n\nThe residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date.\n\nAn item of property, plant and equipment is derecognised upon disposal or when there is no future economic benefit to the Consolidated Entity. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss.\n\nRight-of-Use Assets\n\nA right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except were included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset.\n\nRight-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the Consolidated Entity expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities.\n\nThe Consolidated Entity has elected not to recognise a right-of-use asset and corresponding lease liability for short- term leases with terms of 12 months or less and leases of low-value assets. Lease payments on these assets are expensed to profit or loss as incurred.\n\nIntangible Assets Intangible assets acquired as part of a business combination, other than goodwill, are initially measured at their fair value at the date of the acquisition. Intangible assets acquired separately are initially recognised at cost. Indefinite life intangible assets are not amortised and are subsequently measured at cost less any impairment. Finite life intangible assets are subsequently measured at cost less amortisation and any impairment. The gains or losses recognised in profit or loss arising from the derecognition of intangible assets are measured as the difference between net disposal proceeds and the carrying amount of the intangible asset. The method and useful lives of finite life intangible assets are reviewed annually. Changes in the expected pattern of consumption or useful life are accounted for prospectively by changing the amortisation method or period.\n\nResearch and Development\n\nResearch costs are expensed in the period in which they are incurred. Development costs are capitalised when it is probable that the project will be a success considering its commercial and technical feasibility; the Consolidated entity is able to use or sell the asset; the Consolidated Entity has sufficient resources and intent to complete the development; and its costs can be measured reliably. Capitalised development costs are amortised on a straight- line basis over the period of their expected benefit, being their finite life of 10 years.\n\nWebsite\n\nSignificant costs associated with the development of the revenue generating aspects of the website, including the capacity of placing orders, are deferred and amortised on a straight-line basis over the period of their expected benefit, being their finite life of 10 years.\n\nTrademarks and Patents\n\nSignificant costs associated with trademarks and patents are deferred and amortised on a straight-line basis over the period of their expected benefit, being their finite life of 10 years. The carrying amount of trademarks is reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable.\n\nImpairment of Non-Financial Assets\n\nNon-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount.\n\nRecoverable amount is the higher of an asset's fair value less costs of disposal and value-in-use. The value-in-use is the present value of the estimated future cash flows relating to the asset using a pre-tax discount rate specific to the asset or cash-generating unit to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a cash-generating unit.\n\nTrade and Other Payables\n\nTrade and other payables represent liabilities for goods and services provided to the Consolidated Entity prior to the end of the financial year and which are unpaid. Due to their short-term nature they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.\n\nContract Liabilities\n\nContract liabilities represent the Consolidated Entity's obligation to transfer goods or services to a customer and are recognised when a customer pays consideration, or when the Consolidated Entity recognises a receivable to reflect its unconditional right to consideration (whichever is earlier) before the Consolidated Entity has transferred the goods or services to the customer.\n\nBorrowings\n\nLoans and borrowings are initially recognised at the fair value of the consideration received, net of transaction costs. They are subsequently measured at amortised cost using the effective interest method.\n\nLease Liabilities\n\nA lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Consolidated Entity's incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred.\n\nLease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down. Both the principal and interest components of lease repayments are classified as financing activities in the Statement of Cash Flows.\n\nFinance Costs\n\nFinance costs attributable to qualifying assets are capitalised as part of the asset. All other finance costs are expensed in the period in which they are incurred.\n\nPreference Shares\n\nPreference shares are initially recognised at fair value, net of any transaction costs directly attributable to their issuance. They are classified as financial liabilities at fair value through profit or loss in accordance with AASB 9 Financial Instruments due to the antidilution clause resulting in the conversion rate to ordinary shares not being fixed.\n\nFinancial Liabilities\n\nFinancial liabilities in the form of convertible instruments are initially recognised at fair value, net of directly attributable transaction costs. Financial liabilities that convert into a variable number of the Company’s shares are designated at fair value through profit or loss.\n\nEmployee Benefits\n\nShort-term employee benefits Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled.\n\nOther Long-Term Employee Benefits\n\nThe liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date are measured at the present value of expected future payments to be made in respect of services provided by employees up to the reporting date. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on high quality corporate bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows.\n\nShare-based payments\n\nEquity-settled and cash-settled share-based compensation benefits are provided to employees.\n\nEquity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services. Cash-settled transactions are awards of cash for the exchange of services, where the amount of cash is determined by reference to the share price.\n\nThe cost of equity-settled transactions are measured at fair value on grant date. Fair value is independently determined using the Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the Consolidated Entity receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions.\n\nThe cost of equity-settled transactions are recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.\n\nThe cost of cash-settled transactions is initially, and at each reporting date until vested, determined by applying the Black-Scholes option pricing model, taking into consideration the terms and conditions on which the award was granted. The cumulative charge to profit or loss until settlement of the liability is calculated as follows:\n\nduring the vesting period, the liability at each reporting date is the fair value of the award at that date multiplied by the expired portion of the vesting period. from the end of the vesting period until settlement of the award, the liability is the full fair value of the liability at the reporting date.\n\nAll changes in the liability are recognised in profit or loss. The ultimate cost of cash-settled transactions is the cash paid to settle the liability.\n\nMarket conditions are taken into consideration in determining fair value. Therefore, any awards subject to market conditions are considered to vest irrespective of whether or not that market condition has been met, provided all other conditions are satisfied.\n\nIf equity-settled awards are modified, as a minimum an expense is recognised as if the modification has not been made. An additional expense is recognised, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification.\n\nIf the non-vesting condition is within the control of the Consolidated Entity or employee, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the Consolidated Entity or employee and is not satisfied during the vesting period, any remaining expense for the award is recognised over the remaining vesting period, unless the award is forfeited.\n\nIf equity-settled awards are cancelled, it is treated as if it has vested on the date of cancellation, and any remaining expense is recognised immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification.\n\nFair Value Measurement\n\nWhen an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market.\n\nFair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use.\n\nAssets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement.\n\nFor recurring and non-recurring fair value measurements, external valuers may be used when internal expertise is either not available or when the valuation is deemed to be significant. External valuers are selected based on market knowledge and reputation. Where there is a significant change in fair value of an asset or liability from one period to another, an analysis is undertaken, which includes a verification of the major inputs applied in the latest valuation and a comparison, where applicable, with external sources of data.\n\nValuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.\n\nIssued Capital Ordinary shares are classified as equity.\n\nIncremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.\n\nGoods and Services Tax ('GST') and other Similar Taxes Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense.\n\nReceivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position.\n\nCash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows.\n\nCommitments and contingencies are disclosed net of the amount of GST recoverable from, or payableto, the tax authority.\n\nNew Accounting Standards and Interpretations Not Yet Mandatory or Early Adopted Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet mandatory, have not been early adopted by the Consolidated Entity for the annual reporting period ended 30 June 2026. The Consolidated Entity's assessment of the impact of these new or amended Accounting Standards and Interpretations, most relevant to the Consolidated entity, are set out below.\n\nAASB 18 Presentation and Disclosure in Financial Statements AASB 18 replaces AASB 101 and applies from 1 January 2027, with early adoption permitted; the Consolidated Entity has not early adopted. The standard changes presentation and disclosure only, with no material impact expected on the recognition or measurement of assets, liabilities, income or expenses. Key changes include five new categories in the statement of profit or loss (operating, investing, financing, income taxes and discontinued operations), two mandatory subtotals ('operating profit' and 'profit before financing and income taxes'), new disclosures for management-defined performance measures such as EBITDA, and enhanced guidance on aggregation and disaggregation of information.\n\nThe Consolidated Entity will adopt AASB 18 from 1 July 2027 and is assessing its impact on the structure of the statement of profit or loss and cash flows, management defined performance measures (MPM) disclosures, and the grouping of items currently labelled 'other'.\n\nOperating Segments Operating segments are presented using the 'management approach', where the information presented is on the same basis as the internal reports provided to the Chief Operating Decision Makers ('CODM').  The CODM is responsible for the allocation of resources to operating segments and assessing their performance. The CODM have been identified as the parent entity's Board of Directors.", "table_ids": [], "figure_ids": [], "page_start": 99, "page_end": 104, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "99", "printed_page_end": "104", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-earnings-per-share", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Earnings Per Share"], "heading": "Earnings Per Share", "text": "Basic Earnings Per Share Basic earnings per share is calculated by dividing the profit attributable to the owners of Tetratherix Limited, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year.\n\nDiluted Earnings Per Share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares.", "table_ids": [], "figure_ids": [], "page_start": 104, "page_end": 104, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "104", "printed_page_end": "104", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-comparative-figures", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Comparative Figures"], "heading": "Comparative Figures", "text": "Comparatives have been realigned where necessary, to be consistent with current year presentation. There was no effect on profit, net assets, or equity.", "table_ids": [], "figure_ids": [], "page_start": 104, "page_end": 104, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "104", "printed_page_end": "104", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-3-critical-accounting-judgements-estimates", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 3. Critical Accounting Judgements, Estimates and Assumptions"], "heading": "Note 3. Critical Accounting Judgements, Estimates and Assumptions", "text": "The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below.\n\nShare-Based Payment Transactions The Consolidated Entity measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. The fair value is determined by using either the Binomial or Black-Scholes model taking into account the terms and conditions upon which the instruments were granted. The accounting estimates and assumptions relating to equity-settled share-based payments would have no impact on the carrying amounts of assets and liabilities within the next annual reporting period but may impact profit or loss and equity.\n\nEstimation of Useful Lives of Assets The Consolidated Entity determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and equipment and finite life intangible assets. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation and amortisation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down.\n\nLease Term The lease term is a significant component in the measurement of both the right-of-use asset and lease liability. Judgement is exercised in determining whether there is reasonable certainty that an option to extend the lease or purchase the underlying asset will be exercised, or an option to terminate the lease will not be exercised, when ascertaining the periods to be included in the lease term. In determining the lease term, all facts and circumstances that create an economical incentive to exercise an extension option, or not to exercise a termination option, are considered at the lease commencement date. Factors considered may include the importance of the asset to the Consolidated Entity's operations; comparison of terms and conditions to prevailing market rates; incurrence of significant penalties; existence of significant leasehold improvements; and the costs and disruption to replace the asset. The Consolidated Entity reassesses whether it is reasonably certain to exercise an extension option, or not exercise a termination option, if there is a significant event or significant change in circumstances.\n\nIncremental Borrowing Rate Where the interest rate implicit in a lease cannot be readily determined, an incremental borrowing rate is estimated to discount future lease payments to measure the present value of the lease liability at the lease commencement date. Such a rate is based on what the Consolidated Entity estimates it would have to pay a third party to borrow the funds necessary to obtain an asset of a similar value to the right-of-use asset, with similar terms, security and economic environment.\n\nEmployee Benefits Provision As discussed in note 2, the liability for employee benefits expected to be settled more than 12 months from the reporting date are recognised and measured at the present value of the estimated future cash flows to be made in respect of all employees at the reporting date. In determining the present value of the liability, estimates of attrition rates and pay increases through promotion and inflation have been taken into account.\n\nIncome Tax The Group receives government grant income under programs such as the Australian Government's Industry Growth Program (IGP), and certain related expenditure may also qualify as eligible research and development (R&D) expenditure. Management exercises judgement in estimating any R&D clawback adjustment arising from the interaction between grant funding and the Group's R&D tax incentive claim, which is finalised following lodgement of the claim for the relevant financial year and may differ from amounts estimated during the year.\n\nManagement also assesses the Group's base rate entity status for each financial year based on its income composition, in order to determine the applicable corporate tax rate for measuring the Group's income tax position. This assessment is monitored throughout the year, and the Group's eligibility for base rate entity status may change if the composition of its income changes.\n\nUtilisation and recognition of carried-forward tax losses The Group has carried-forward tax losses available for offset against future taxable income. Utilisation of these losses in any given year is contingent on satisfying the continuity of ownership test in Division 165 of the Income Tax Assessment Act 1997, or, where this test is not met, the same business test. Judgement is required in assessing whether these tests have been satisfied in respect of losses utilised in the period, and in assessing whether it is probable that sufficient future taxable profits will be available to utilise the Group's remaining unrecognised tax losses. Where it is not considered probable that future taxable profits will be sufficient, no deferred tax asset is recognised in respect of these losses.\n\nDeferred Income The recognition of deferred income requires judgement in determining the extent to which eligible expenditure is capitalised and the appropriate timing of income recognition in accordance with AASB 120. The majority of the deferred income is expected to be recognised beyond 12 months.\n\nCapitalisation of Development Costs The Consolidated Entity capitalises development expenditure only where it satisfies the recognition criteria set out in AASB 138.57. Management exercises judgement in determining when a project moves from the research phase into the development phase and meets these criteria, having considered the technical feasibility of completing the intangible asset such that it will be available for use or sale, the Consolidated Entity's intention and ability to complete the asset and use or sell it, the availability of adequate technical, financial and other resources to complete development, the manner in which the asset is expected to generate probable future economic benefits, and the ability to reliably measure the expenditure attributable to the asset during its development. This assessment requires significant judgement, particularly given the early commercial stage of the Consolidated Entity and the inherent uncertainty in medical device and biomedical development programs. Should management's assessment of any of these criteria change in future periods, this may impact the amount of development expenditure capitalised or expensed as incurred.\n\nRecognition of Raw Materials and Work in Progress as Inventory Management exercises judgement in determining that raw materials and work in progress held by the Group meet the recognition criteria for inventory under AASB 102, on the basis that these items have dual use and may be consumed either in the Group's research and development activities or in the Group's manufacturing activities for commercial supply. Where inventory is identified as having been consumed for research and development purposes, the related cost is reclassified out of inventory and expensed to profit or loss as R&D expenditure at the point of identification or consumption. This assessment of dual use, and the point at which inventory is identified as consumed for R&D rather than retained for commercial production, requires judgement and is reassessed on an ongoing basis as manufacturing activity scales.\n\nImpairment Assessment of Capitalised Development Costs Capitalised development costs relating to the Group's Tegenix and TegenEOS (Bone Franchise) intangible assets not yet available for use are tested for impairment annually, irrespective of whether there is any indication of impairment, in accordance with AASB 136. This assessment requires management to estimate the recoverable amount of the asset, having regard to the expected future economic benefits to be derived once the related product reaches commercial availability, including the timing and probability of achieving regulatory approval and commercial launch, expected market demand, and the continued technical and commercial viability of the project. This assessment involves significant estimation uncertainty given the early commercial stage of the Consolidated Entity and the inherent risks associated with medical device development, regulatory approval and market adoption. Changes in these assumptions in future periods could result in the recognition of an impairment loss or derecognition of asset.\n\nClassification of Cash and Cash equivalents Management exercises judgement in determining whether dollar balances held in the Company’s USD yield account meet the definition of cash and cash equivalents in AASB 107, rather than being classified as a separate financial asset. In reaching its conclusion, management considered the absence of any lock-up period, allowing funds to be accessed on demand; the balance's function in facilitating the Company's multi- currency operating and foreign exchange; the Company's practice of drawing down the balance against near-term commitments rather than holding it for investment purposes; and the short-duration, capital- stability objective of the underlying funds.\n\nContract Liabilities The Group recognises licence fees received under its technology licensing arrangements as a contract liability to the extent that performance obligations under the licence have not yet been satisfied. Management exercises judgement in determining the timing of revenue recognition for these arrangements, including: whether the licence and other promised deliverables (such as manufacturing supply or technical support) represent separate or combined performance obligations; whether the licence provides a right to access the Group's intellectual property over time or a right to use it at a point in time, which determines whether revenue is recognised over the licence term or upon transfer; and the extent to which milestone or variable consideration is included in the transaction price, applying the constraint under AASB 15. Changes in these judgements could materially affect the timing of revenue recognition and the carrying value of contract liabilities in future periods.", "table_ids": [], "figure_ids": [], "page_start": 105, "page_end": 107, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "105", "printed_page_end": "107", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-4-operating-segments", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 4. Operating Segments"], "heading": "Note 4. Operating Segments", "text": "The Group operates as a single operating segment, and its activities are not subdivided into different operating segments for internal management purposes. Accordingly, the Group does not prepare segmental financial information, as directors monitor the Group as a whole.\n\nThe operating segment information is the same information as provided throughout the financial statements and therefore not duplicated.\n\nMajor Customers During the year, the Group derived $918,151 (2025: $nil) of revenue from a single external customer under a licensing arrangement, representing approximately 24% of the Group's revenue and other income for the year. Government grant income and interest revenue are excluded from this analysis, as they do not arise from contracts with customers. As the Group operates as a single operating segment, this revenue is reported within that segment. No other external customer contributed 10% or more of the Group's revenue during the current or prior financial year.\n\nGeographical Information All of the Group's revenue from contracts with customers ($918,151; 2025: $nil) relates to a customer domiciled in the United States. Government grant income and interest revenue, which are Australian-sourced but do not arise from contracts with customers, are excluded from this analysis, consistent with the major customers disclosure above.", "table_ids": [], "figure_ids": [], "page_start": 108, "page_end": 108, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "108", "printed_page_end": "108", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-5-revenue-and-other-income", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 5. Revenue and Other Income"], "heading": "Note 5. Revenue and Other Income", "text": "Government grant income and interest revenue are recognised at a point in time. Licence fee revenue is recognised over time, over the term of the licence agreement (refer to note 19 Contract Liabilities).", "table_ids": ["tbl-curated-p108-note-5-revenue-and-other-income"], "figure_ids": [], "page_start": 108, "page_end": 108, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "108", "printed_page_end": "108", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-6-net-fair-value-loss", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 6. Net Fair Value Loss on Financial Liabilities"], "heading": "Note 6. Net Fair Value Loss on Financial Liabilities", "text": "The FY25 loss related to the conversion of SAFE notes and convertible notes to equity prior to the Group’s IPO. Refer to note 29 for fair value measurement.", "table_ids": ["tbl-curated-p108-note-6-net-fair-value-loss-on-financial-liabilit"], "figure_ids": [], "page_start": 108, "page_end": 108, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "108", "printed_page_end": "108", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-7-expenses", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 7. Expenses"], "heading": "Note 7. Expenses", "text": "", "table_ids": ["tbl-curated-p109-note-7-expenses"], "figure_ids": [], "page_start": 109, "page_end": 109, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "109", "printed_page_end": "109", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-8-income-tax", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 8. Income Tax"], "heading": "Note 8. Income Tax", "text": "The above potential tax benefit for tax losses has not been recognised in the statement of financial position as the recovery of this benefit is uncertain. In addition, these tax losses can only be utilised in the future if the continuity of ownership test is passed, or failing that, the same business test is passed.\n\nThe above potential tax benefit, which excludes tax losses, for deductible temporary differences has not been recognised in the statement of financial position as the recovery of this benefit is uncertain.\n\nKey income tax judgements and positions adopted During the half-year, the Group received government grant income under the Australian Government’s Industry Growth Program (IGP). Certain expenditure incurred in relation to the grant is also expected to qualify as eligible research and development (R&D) expenditure. Management has estimated a R&D clawback adjustment of $733,947 for the year, which may change following finalisation of the Group’s R&D tax incentive claim for the full financial year.\n\nManagement has also assessed the Group’s base rate entity status for the year ending 30 June 2026 and concluded that the Group qualifies as a base rate entity. Accordingly, a corporate tax rate of 25% has been applied in assessing the Group’s income tax position for the year.\n\nDuring the year, the Group generated taxable income of $83,348, which was offset in full by tax losses carried forward from prior years, resulting in no income tax payable for the year ended 30 June 2026. Utilisation of these losses requires the Group to satisfy the continuity of ownership test in Division 165 of the Income Tax Assessment Act 1997, or, where this is not satisfied, the same business test. Management has assessed and concluded that the continuity of ownership test is satisfied, and accordingly the Group is entitled to utilise these losses against current year taxable income.", "table_ids": ["tbl-curated-p110-note-8-income-tax", "tbl-curated-p111-note-8-income-tax"], "figure_ids": [], "page_start": 110, "page_end": 111, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "110", "printed_page_end": "111", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-9-cash-and-cash-equivalents", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 9. Cash and Cash Equivalents"], "heading": "Note 9. Cash and Cash Equivalents", "text": "As at 30 June 2026, the Company held USD$2,770,853 (A$4,024,273 equivalent) in the USD Yield account. No amounts of cash and cash equivalents, including the USD Yield account, are subject to restrictions on use as at the reporting date.\n\nRedemption proceeds from the USD Yield account are ordinarily received within 1–2 business days of a withdrawal request. This timing is consistent with the Company's classification of the balance as a cash equivalent on the basis described in Note 2.", "table_ids": ["tbl-curated-p112-note-9-cash-and-cash-equivalents"], "figure_ids": [], "page_start": 112, "page_end": 112, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "112", "printed_page_end": "112", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-10-other-receivables", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 10. Other Receivables"], "heading": "Note 10. Other Receivables", "text": "Allowance for expected credit losses The Consolidated Entity has recognised a loss of $nil (2025: $nil) in profit or loss in respect of the expected credit losses for the year ended 30 June 2026.", "table_ids": ["tbl-curated-p112-note-10-other-receivables"], "figure_ids": [], "page_start": 112, "page_end": 112, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "112", "printed_page_end": "112", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-11-inventories", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 11. Inventories"], "heading": "Note 11. Inventories", "text": "The accounting policy applied in respect of inventories is set out in Note 2.\n\nRaw materials and work in progress held by the Group have dual use, being available for consumption in either the Group's research and development activities or its manufacturing activities for commercial supply. Inventory held at reporting date relates to both research and development activity and inventory held for commercial sale, and has not yet been differentiated between the two uses. Inventory identified as consumed for research and development purposes is reclassified out of inventory and expensed to profit or loss as incurred. No such amounts were expensed during the year (2025: $nil).\n\nNo write-down of inventories to net realisable value was required during the year (2025: $nil), and no inventories are pledged as security for any liabilities of the Group (2025: nil).", "table_ids": ["tbl-curated-p113-note-11-inventories"], "figure_ids": [], "page_start": 113, "page_end": 113, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "113", "printed_page_end": "113", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-12-prepayments", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 12. Prepayments"], "heading": "Note 12. Prepayments", "text": "(i) Prepayments for property, plant and equipment are advance payments for property, plant and equipment, which represent a new balance recognised during the year and had not met the criteria for recognition as property, plant and equipment at the reporting date.\n\n(ii) Prepaid insurance relates to insurance costs incurred in connection with the Group's initial public offering (IPO), which are expensed over the period of coverage. Insurance prepayments are classified as current or non-current based on the expected timing of utilisation.\n\nIn the comparative year, the Group reclassified $139,302 of prepaid insurance from current assets to non-current assets to reflect the timing of the expected economic benefits. The reclassification had no impact on the profit or loss.", "table_ids": ["tbl-curated-p113-note-12-prepayments"], "figure_ids": [], "page_start": 113, "page_end": 113, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "113", "printed_page_end": "113", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-13-property-plant-and-equipment", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 13. Property, Plant and Equipment"], "heading": "Note 13. Property, Plant and Equipment", "text": "Reconciliation Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below:", "table_ids": ["tbl-curated-p114-note-13-property-plant-and-equipment", "tbl-curated-p114-note-13-property-plant-and-equipment-movement-re"], "figure_ids": [], "page_start": 114, "page_end": 114, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "114", "printed_page_end": "114", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-14-right-of-use-assets", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 14. Right-of-Use Assets"], "heading": "Note 14. Right-of-Use Assets", "text": "The Consolidated Entity leases the following premises:\n\nDuring the year, the Consolidated Entity recognised an increase in right-of-use assets arising from a modification of the existing office lease, which resulted in a remeasurement of the lease liability and a corresponding uplift to the right-of-use asset.\n\nThe Consolidated Entity also entered into a new lease arrangement during the year for its advanced manufacturing facility, resulting in the recognition of additional right-of-use assets and a corresponding lease liability (refer to note 22 Lease Liabilities). In connection with the new lease, the Consolidated Entity also recognised a make-good provision in respect of its obligation to restore the leased premises at the end of the lease term, with a corresponding adjustment to the right-of-use asset (refer to note 24 Provisions).\n\nReconciliation Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below:\n\nConsolidated Buildings\n\nFor other AASB 16 lease disclosures refer to:\n\nnote 14 for depreciation on right-of-use assets, interest on lease liabilities and other lease expenses; note 22 for lease liabilities at the reporting date; note 28 for undiscounted future lease commitments; and consolidated statement of cash flows for repayment of lease liabilities.", "table_ids": ["tbl-curated-p115-note-14-right-of-use-assets", "tbl-curated-p115-note-14-right-of-use-assets-premises", "tbl-curated-p115-note-14-right-of-use-assets-movement-reconciliat"], "figure_ids": [], "page_start": 115, "page_end": 115, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "115", "printed_page_end": "115", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-15-other-financial-assets", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 15. Other Financial Assets"], "heading": "Note 15. Other Financial Assets", "text": "Other financial assets include restricted deposits of $819,985 (30 June 2025: $nil) held as security in relation to lease arrangements. Refer to note 32 for further details.", "table_ids": ["tbl-curated-p116-note-15-other-financial-assets"], "figure_ids": [], "page_start": 116, "page_end": 116, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "116", "printed_page_end": "116", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-16-intangibles", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 16. Intangibles"], "heading": "Note 16. Intangibles", "text": "Reconciliation Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below:\n\nCapitalised development costs relate to the Group's Tegenix and TegenEOS bone regeneration products (Bone Franchise). The carrying amount of capitalised development costs at 30 June 2026 was $1,125,730 (2025: $nil), comprising additions of $1,125,730 recognised during the year (2025: $nil). No amortisation has been recognised in respect of capitalised development costs (2025: $nil), as the Tegenix and TegenEOS assets had not reached commercial availability at reporting date. R&D costs that were not eligible for capitalisation have been expensed as incurred.\n\nTotal Research & Development of $5,062,926 (2025: $3,078,307) includes cash outlay for project specific activities, directly attributable staff, research and laboratory costs, trademarks, patent filing and upkeep. This included $2,464,170 ($1,418,723) recognised as research and development expense, $2,598,756 ($1,659,584)  of employee benefits and R&D administration costs.\n\nAs these assets are not yet available for use, they are required to be tested for impairment annually in accordance with AASB 136, irrespective of whether there is any indication of impairment. No impairment loss was recognised during the year (2025: nil). Key estimates and assumptions applied in this assessment are set out in Note 3.", "table_ids": ["tbl-curated-p116-note-16-intangibles", "tbl-curated-p116-note-16-intangibles-movement-reconciliation"], "figure_ids": [], "page_start": 116, "page_end": 117, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "116", "printed_page_end": "117", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-17-trade-and-other-payables", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 17. Trade and Other Payables"], "heading": "Note 17. Trade and Other Payables", "text": "Refer to note 28 for further information on financial instruments.", "table_ids": ["tbl-curated-p117-note-17-trade-and-other-payables"], "figure_ids": [], "page_start": 117, "page_end": 117, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "117", "printed_page_end": "117", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-18-share-application-monies", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 18. Share Application Monies"], "heading": "Note 18. Share Application Monies", "text": "During the period, Tetratherix received cash proceeds of $2,017,092 from directors or their related parties under the capital raise, representing subscription monies for 336,182 shares at an issue price of $6.00 per share. As at the date of this report, these shares had not yet been issued, with formal allotment subject to approval by the Board at its AGM scheduled meeting on 12 November 2026. The subscription monies received have been recorded as share application monies pending issuance, in accordance with the Company's accounting policy, and will be reclassified to issued capital upon Board approval and allotment. The Company expects to issue the shares and lodge the relevant Appendix 2A with the ASX within the timeframe required under the ASX Listing Rules following Board approval.", "table_ids": ["tbl-curated-p117-note-18-share-application-monies"], "figure_ids": [], "page_start": 117, "page_end": 117, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "117", "printed_page_end": "117", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-19-contract-liabilities", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 19. Contract Liabilities"], "heading": "Note 19. Contract Liabilities", "text": "Reconciliation Reconciliation of the movement in carrying amount at the beginning and end of the current and previous financial year are set out below:\n\nThe aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied at the end of the reporting period was $3,456,570 as at 30 June 2026 (30 June 2025: $nil)", "table_ids": ["tbl-curated-p118-note-19-contract-liabilities", "tbl-curated-p118-note-19-contract-liabilities-movement-reconcilia"], "figure_ids": [], "page_start": 118, "page_end": 118, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "118", "printed_page_end": "118", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-20-deferred-income", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 20. Deferred Income"], "heading": "Note 20. Deferred Income", "text": "During the year, the Group recognised deferred income in relation to government grants received under the Industry Growth Program (IGP) and the Research and Development Tax Incentive (R&D Tax Incentive).\n\nDeferred income arises in respect of government grants received for eligible expenditure relating to capitalised development costs, property, plant and equipment, and leasehold improvements. In accordance with AASB 120 Accounting for Government Grants and Disclosure of Government Assistance, grant income relating to these assets is deferred and recognised in profit or loss on a systematic basis over the useful lives of the respective assets. Grant income associated with capitalised development costs is recognised over the useful life of the related asset, consistent with the recognition of the associated amortisation expense.\n\nAt the reporting date, the underlying capitalised costs had not yet been amortised, and accordingly the related grant income has not been recognised\n\nReconciliation Reconciliation of the movements in carrying amount at the beginning and end of the current and previous financial year are set out below:\n\nSignificant Accounting Judgement The recognition of deferred income requires judgement in determining the extent to which eligible expenditure is capitalised and the appropriate timing of income recognition in accordance with AASB 120. The majority of the deferred income is expected to be recognised beyond 12 months.", "table_ids": ["tbl-curated-p119-note-20-deferred-income", "tbl-curated-p119-note-20-deferred-income-movement-reconciliation"], "figure_ids": [], "page_start": 119, "page_end": 119, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "119", "printed_page_end": "119", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-21-borrowings", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 21. Borrowings"], "heading": "Note 21. Borrowings", "text": "Refer to note 28 for information on financial instruments and note 34 for related party information.\n\nNSW Medical Device Fund The Consolidated Entity entered into a funding agreement with NSW Health Administration Corporation in October 2018. The funding is to be used for the commercialisation of TrimphDent Medical Device (Dental Bone Regeneration application).\n\nThe Consolidated Entity is not required to make any repayment of the loan until the specific project has achieved commercial success, and positive EBIT is derived from Tegenix (Dental Bone Regeneration) product sales. The loan is unsecured and the applicable interest rate is calculated using the annual Consumer Price Index (CPI).", "table_ids": ["tbl-curated-p120-note-21-borrowings"], "figure_ids": [], "page_start": 120, "page_end": 120, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "120", "printed_page_end": "120", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-22-lease-liabilities", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 22. Lease Liabilities"], "heading": "Note 22. Lease Liabilities", "text": "Refer to note 28 for undiscounted future lease commitments.", "table_ids": ["tbl-curated-p120-note-22-lease-liabilities"], "figure_ids": [], "page_start": 120, "page_end": 120, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "120", "printed_page_end": "120", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-23-employee-benefits", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 23. Employee Benefits"], "heading": "Note 23. Employee Benefits", "text": "", "table_ids": ["tbl-curated-p121-note-23-employee-benefits"], "figure_ids": [], "page_start": 121, "page_end": 121, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "121", "printed_page_end": "121", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-24-provisions", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 24. Provisions"], "heading": "Note 24. Provisions", "text": "Lease Make Good The provision represents the present value of the estimated costs to make good the premises leased by the Consolidated Entity at the end of the respective lease terms.", "table_ids": ["tbl-curated-p121-note-24-provisions"], "figure_ids": [], "page_start": 121, "page_end": 121, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "121", "printed_page_end": "121", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-25-issued-capital", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 25. Issued Capital"], "heading": "Note 25. Issued Capital", "text": "(1) Preference Shares At IPO, on 30 June 2025, the preference shares  were converted to ordinary shares and reclassified to equity. The preference Shares were converted into ordinary shares on a 1:1 basis at an effective average conversion price of $0.60 per share. In accordance with the terms of issue, the conversion price equalled the initial issue price of each preference share. No adjustments were made to the conversion price, as the anti-dilution provisions were not triggered as no additional shares were issued during the relevant period.\n\n(2) SAFE notes In July 2024, the Company issued Simple Agreements for Future Equity (SAFE) notes with a principal amount of $2,570,000. The SAFE notes provided holders the right to convert into a variable number of senior shares upon a qualifying equity financing or designated liquidity event. The conversion price was based on a 20% discount to the IPO price or the valuation cap of $75 million, whichever resulted in a lower price per share. For the SAFE notes, the discounted valuation cap price of $2.05 per share was applied, resulting in the issuance of 1,253,762 ordinary shares on conversion.\n\nThe conversion occurred on 20 June 2025, the day conditional approval for ASX admission was received ahead of the IPO. Upon conversion into ordinary shares of the Company, the SAFE notes were extinguished, and equity was recognised.\n\n(3) Convertible Subscription Notes In December 2024, the Company issued convertible subscription notes with a principal amount of $8,445,000. The notes accrued interest at 8.00% per annum, capitalised until conversion.\n\nInterest accrued to 20 June 2025 was $311,723. Holders were entitled to convert the notes into a variable number of senior shares upon the IPO or redeem for cash upon maturity or default. All note holders elected to convert to equity. The conversion price was based on a 20% discount to the IPO price or the valuation cap of$100 million, whichever resulted in a lower price per share. For the convertible notes, the discounted IPO price of $2.30 per share was applied, resulting in the issuance of 3,807,270 ordinary shares on conversion.\n\nThe conversion occurred on 20 June 2025, the day conditional approval for ASX admission was received ahead of the IPO. Upon conversion into ordinary shares of the Company, the convertible notes and accrued interest were extinguished and equity was recognised.\n\n(4) Share Split On 1 May 2025, the shareholders approved the subdivision (share split) of each ordinary share, option, preference share, SAFE note and Convertible note of the Company on a 1-for-635 basis. All disclosed share numbers, movements and issue prices have been retrospectively adjusted to reflect the share split, presenting all figures prior to the share split as if the subdivision had occurred prior to the start of the comparative reporting period.\n\nShares Under Escrow The Company's restricted and voluntary shares under escrow as at 30 June 2026 are as follows:\n\n(1)The ASX imposes mandatory escrow on specific shareholders as part of its listing rules, particularly for companies admitted under the \"assets test\".\n\n(2) At the Consolidated Entity's request, the Holders have agreed to the restrictions set out above in relation to the Restricted Securities issued. The escrow period for the Restricted Securities commenced at listing on 30 June 2025.\n\nOrdinary shares Ordinary shares entitle the holder to participate in any dividends declared and any proceeds attributable to shareholders should the Company be wound up, in proportions that consider both the number of shares held and the extent to which those shares are paid up. The fully paid ordinary shares have no par value, and the Company does not have a limited amount of authorised capital.\n\nOn a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.\n\nCapital Risk Management The Consolidated Entity's objectives when managing capital is to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital.\n\nCapital is regarded as total equity, as recognised in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents.\n\nIn order to maintain or adjust the capital structure, the Consolidated Entity may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.", "table_ids": ["tbl-curated-p122-note-25-issued-capital", "tbl-curated-p122-note-25-movements-in-ordinary-share-capital", "tbl-curated-p123-note-25-restricted-voluntary-escrow-shares"], "figure_ids": [], "page_start": 122, "page_end": 124, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "122", "printed_page_end": "124", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-26-reserves", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 26. Reserves"], "heading": "Note 26. Reserves", "text": "Share-Based Payments Reserve The reserve is used to recognise the value of equity benefits provided to employees, directors and contractors as part of their remuneration, and other parties as part of their compensation for services. Refer to note 39 for movement in share-based payments reserve.\n\nDuring the year ended 30 June 2026, the Company recognised a share-based payments reserve of $665,592 (2025: $nil), representing the fair value of performance rights granted to employees, directors and contractors that remained unvested at reporting date. $1.471 million of performance rights vested or were exercised during FY26. Refer share capital movements table in Note 25.\n\nIn the prior year ended 30 June 2025, all outstanding share options under the legacy employee share option plan were exercised by eligible employees, and the share-based payments reserve balance was transferred to issued capital upon exercise. The Company has retired this legacy plan and no further options will be issued under it.\n\nMovements in Reserves Movements in the share-based payments reserve during the current year relate to the recognition of share- based payments expense of $2,136,947 in respect of performance rights granted to employees, directors and contractors during the year, which remain partially unvested at 30 June 2026. In the prior year, the movement related to the transfer of the reserve balance to issued capital upon exercise of options under the legacy employee share option plan, which has since been retired.\n\nReconciliation Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below:", "table_ids": ["tbl-curated-p124-note-26-reserves", "tbl-curated-p125-note-26-reserves"], "figure_ids": [], "page_start": 124, "page_end": 125, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "124", "printed_page_end": "125", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-27-dividends", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 27. Dividends"], "heading": "Note 27. Dividends", "text": "There were no dividends paid, recommended or declared during the current or previous financial year.", "table_ids": [], "figure_ids": [], "page_start": 125, "page_end": 125, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "125", "printed_page_end": "125", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-28-financial-instruments", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 28. Financial Instruments"], "heading": "Note 28. Financial Instruments", "text": "Financial Risk Management Objectives The Consolidated entity's activities expose it to a variety of financial risks: market risk (including interest rate risk),and liquidity risk. The Consolidated entity's overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Consolidated entity. The Consolidated entity uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity analysis in the case of interest rate risk.\n\nRisk management is carried out by senior finance executives ('finance') under policies approved by the Board of Directors ('the Board'). These policies include identification and analysis of the risk exposure of the Consolidated entity and appropriate procedures, controls and risk limits. Finance identifies and evaluates financial risks within the Consolidated entity's operating units. Finance reports to the Board on a monthly basis.\n\nPrice Risk The Consolidated entity is not exposed to any significant price risk.\n\nInterest Rate Risk The Consolidated entity's main interest rate risk arises from long-term borrowings.\n\nThe loans outstanding with NSW Health Administration Corporation, totalling $1,899,883 (2025: $1,831,644), are principal and interest. The repayment of the loan is only contingent on the commercial success of the project.\n\nSeparately, the return earned on the Yield USD account moves with short-term USD money market rates. As at 30 June 2026 the Consolidated entity held AUD$4,024,273 (2025: nil) equivalent in the USD Yield account.\n\nThe sensitivity to a reasonably possible 1% change in the interest rates, with all other variables held constant would have impacted the profit/loss before tax as follows:\n\nForeign Currency Risk The Consolidated entity is exposed to foreign currency risk arising from transactions denominated in United States dollars (USD), principally in relation to payments to overseas suppliers and receipts from overseas customers. The Consolidated entity does not enter into forward foreign exchange contracts or other hedging arrangements to manage this exposure. At 30 June 2026 and 30 June 2025, the Consolidated entity had no foreign currency denominated trade payables or trade receivables outstanding. The Consolidated entity's exposure to foreign currency risk at reporting date relates to cash and cash equivalents held in USD operating and Yield accounts, with an AUD equivalent value of $4,156,648 (2025: $nil).\n\nThe sensitivity to a reasonably possible 10% movement in the AUD/USD exchange rate, with all other variables held constant, would have impacted profit/(loss) before tax as follows:\n\nCredit risk The Consolidated entity's maximum exposure to credit risk at reporting date is the carrying amount of its financial assets, being cash and cash equivalents and trade receivables.\n\nLiquidity risk Vigilant liquidity risk management requires the Consolidated entity to maintain sufficient liquid assets (mainly cash and cash equivalents) and available borrowing facilities to be able to pay debts as and when they become due and payable.\n\nThe Consolidated entity manages liquidity risk by maintaining adequate cash reserves and available borrowing facilities by continuously monitoring actual and forecast cash flows and matching the maturity profiles of financial assets and liabilities.\n\nRedemption proceeds from the Yield USD account are ordinarily received within 1–2 business days of a withdrawal request. The Consolidated entity manages liquidity risk on this balance by monitoring it monthly against upcoming committed foreign-currency and operating outflows in accordance with its Foreign Exchange Trading Policy, and by maintaining a threshold above which balances are reviewed for drawdown by the Chief Financial Officer.\n\nThe following tables detail the Consolidated entity's remaining contractual maturity for its financial instrument liabilities.\n\nOver 5\n\nOver 5\n\nThe cash flows in the maturity analysis above are not expected to occur significantly earlier than contractually disclosed above.\n\nThe repayment of the loan in relation to the medical funds is contingent upon the commercial success of the project. This loan is unsecured.", "table_ids": ["tbl-curated-p126-note-28-interest-rate-sensitivity", "tbl-curated-p126-note-28-foreign-exchange-sensitivity", "tbl-curated-p127-note-28-remaining-contractual-maturities-2026", "tbl-curated-p128-note-28-remaining-contractual-maturities-2025"], "figure_ids": [], "page_start": 126, "page_end": 128, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "126", "printed_page_end": "128", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-29-fair-value-measurement", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 29. Fair Value Measurement"], "heading": "Note 29. Fair Value Measurement", "text": "The carrying amounts of other receivables and trade and other payables are assumed to approximate their fair values due to their short-term nature.\n\nThe fair value of financial liabilities is estimated by discounting the remaining contractual maturities at the current market interest rate that is available for similar financial liabilities.", "table_ids": [], "figure_ids": [], "page_start": 128, "page_end": 128, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "128", "printed_page_end": "128", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-30-key-management-personnel-disclosures", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 30. Key Management Personnel Disclosures"], "heading": "Note 30. Key Management Personnel Disclosures", "text": "Compensation The aggregate compensation made to directors and other members of key management personnel of the Consolidated entity is set out below:", "table_ids": ["tbl-curated-p128-note-30-key-management-personnel-disclosures"], "figure_ids": [], "page_start": 128, "page_end": 128, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "128", "printed_page_end": "128", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-31-remuneration-of-auditors", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 31. Remuneration of Auditors"], "heading": "Note 31. Remuneration of Auditors", "text": "All non-audit services disclosed above relate to services performed prior to the Group admission to the ASX on 30 June 2025. No non-audit services were provided by the external auditor following listing.", "table_ids": ["tbl-curated-p129-note-31-remuneration-of-auditors"], "figure_ids": [], "page_start": 129, "page_end": 129, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "129", "printed_page_end": "129", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-32-contingent-liabilities", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 32. Contingent Liabilities"], "heading": "Note 32. Contingent Liabilities", "text": "The Consolidated entity has given the following bank guarantees held as security in relation to lease and credit card facilities:\n\n*The bank guarantee has been provided to the lessor of the Group’s new advanced manufacturing facility as security for the performance of lease obligations. The guarantee may be called upon in the event of non-performance under the lease.", "table_ids": ["tbl-curated-p129-note-32-contingent-liabilities"], "figure_ids": [], "page_start": 129, "page_end": 129, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "129", "printed_page_end": "129", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-33-commitments", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 33. Commitments"], "heading": "Note 33. Commitments", "text": "Capital Commitments - Advanced Manufacturing Facility The Group has entered into contractual arrangements relating to the construction and fit-out of its new advanced manufacturing facility. These commitments are not recognised as liabilities in the financial statements but represent future obligations under contractual arrangements. Payment of all commitments is expected upon completion of the facility which is scheduled for  Q2 FY27.\n\nAward Solutions - Construction and Fit-out As at 30 June 2026, the Group had outstanding commitments of approximately $3,575,750 (30 June 2025: $nil) in respect of construction works for the facility.\n\nKaizen Airconditioning - Mechanical Installation Works As at 30 June 2026, the Group had outstanding commitments of approximately $200,000 (30 June 2025: $nil) in respect of construction works for the facility.\n\nInnavate Integrated Solutions - Workplace Technology Design Services As at 30 June 2026, the Group had outstanding commitments of approximately $264,681 (30 June 2025: $nil) in respect of construction works for the facility.\n\nAllied Scientific Products Pty Ltd - Laboratory equipment As at 30 June 2026, the Group had outstanding commitments of approximately $976,978 (30 June 2025: $nil) in respect of construction works for the facility.\n\nService Commitments – Research and Development Projects The Group has entered into contractual arrangements for the provision of services relating to research and development projects. These commitments are not recognised as liabilities in the financial statements but represent future obligations under contractual arrangements\n\nAb Initio Pharma - R&D Project As at 30 June 2026, the Group had outstanding commitments of approximately $250,000 (30 June 2025: $nil) in respect of services to be provided by Ab Initio Pharma under an R & D services agreement.", "table_ids": [], "figure_ids": [], "page_start": 129, "page_end": 130, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "129", "printed_page_end": "130", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-34-related-party-transactions", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 34. Related Party Transactions"], "heading": "Note 34. Related Party Transactions", "text": "Parent Entity Tetratherix Limited is the parent entity.\n\nSubsidiaries Interests in subsidiaries are set out in note 36.\n\nKey Management Personnel Disclosures relating to key management personnel are set out in note 30.\n\nTransactions with Related Parties Transactions with related parties during the current and previous financial year are set out below:\n\n*The Company pays directors' fees of $180,000 (plus GST) per annum, monthly in arrears, to Rothay Advisory, an entity controlled by Emma Cleary, a non-executive director. Directors' fees paid during the year related to the full year ended 30 June 2026 (30 June 2025: six months, reflecting the appointment date). **The Company paid an IPO success fee of $250,000 (plus GST) to Stapleton Ventures, an entity controlled by William Knox, Executive Director, in recognition of executive management's role in completing the Company's IPO. The fee was expensed in the year ended 30 June 2025. The related payable was settled in full during the year ended 30 June 2026 (refer to Payable to related parties below).\n\nPayable to Related Parties The following balances (plus GST) are outstanding at the reporting date in relation to transactions with related parties:\n\nPerformance Rights Vesting During the year, 434,028 performance rights held by Cherie Beach, Chief Financial Officer, vested and were issued as ordinary shares to CB & MS Holdings, an entity associated with Cherie Beach, for nil cash consideration. The shares were issued at a fair value of $1,410,591, determined as the market price of the Company's ordinary shares at the vesting date. Refer to Note 25 for issued capital and Note 39 for further information on performance rights.\n\nApplication for Shares by Related Parties During the year, related parties applied for shares in the Company, subject to shareholder approval at the Annual General Meeting. Gillian Shea, Director, applied for 6,667 shares at an issue price of $6.00 per share, for total consideration of $40,002. Atlanta Daniel, Director, applied for 329,515 shares at an issue price of $6.00 per share, for total consideration of $1,977,090, via Radar Ventures General Partnership, an entity associated with Atlanta Daniel. As at reporting date, these shares had not been issued pending shareholder approval, and the application monies received are included within share application monies (refer to Note 18).\n\nLoans to/from related parties The following balances are outstanding at the reporting date in relation to loans with related parties:\n\nTerms and conditions All transactions were made on normal commercial terms and conditions and at market rates.", "table_ids": ["tbl-curated-p131-note-34-related-party-transactions", "tbl-curated-p132-note-34-related-party-transactions"], "figure_ids": [], "page_start": 131, "page_end": 132, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "131", "printed_page_end": "132", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-35-parent-entity-information", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 35. Parent Entity Information"], "heading": "Note 35. Parent Entity Information", "text": "Set out below is the supplementary information about the parent entity.\n\nStatement of profit or loss and other comprehensive income\n\nGuarantees entered into by the parent entity in relation to the debts of its subsidiaries The parent entity has given bank guarantees as at 30 June 2026 of $50,000 (30 June 2025: $25,000) as security against its corporate credit card facility.\n\nContingent Liabilities The parent entity had no contingent liabilities as at 30 June 2026 and 30 June 2025.\n\nCapital Commitments - Property, Plant and Equipment The parent entity had no capital commitments for property, plant and equipment as at 30 June 2026 and 30 June 2025.\n\nMaterial Accounting Policy Information The accounting policies of the parent entity are consistent with those of the Consolidated entity, as disclosed in note 2, except for the following: Investments in subsidiaries are accounted for at cost, less any impairment, in the parent entity. Investments in associates are accounted for at cost, less any impairment, in the parent entity. Dividends received from subsidiaries are recognised as other income by the parent entity and its receipt may be an indicator of an impairment of the investment.", "table_ids": ["tbl-curated-p132-note-35-parent-entity-information"], "figure_ids": [], "page_start": 132, "page_end": 133, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "132", "printed_page_end": "133", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-36-interests-in-subsidiaries", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 36. Interests in Subsidiaries"], "heading": "Note 36. Interests in Subsidiaries", "text": "The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 2:\n\nOwnership Interest\n\nName Principle Place of Business / Country of Incorporation", "table_ids": ["tbl-curated-p133-note-36-interests-in-subsidiaries"], "figure_ids": [], "page_start": 133, "page_end": 133, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "133", "printed_page_end": "133", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-37-interests-in-joint-ventures", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 37. Interests in Joint Ventures"], "heading": "Note 37. Interests in Joint Ventures", "text": "Interests in joint ventures are accounted for using the equity method of accounting. The joint venture is not considered material to the Group. Information relating to joint venture is set out below:\n\nOwnership Interest\n\nName Principle Place of Business / Country of Incorporation\n\nIn January 2024, the Group entered into a Joint Venture (JV) with Koda Ventures Pty Ltd, each with 50% equity in the company, Tutelix Pty Ltd (Tutelix). Tutelix is a start-up company developing a novel technology that is using a bio stealth hydrogel material, to make radiotherapy treatment safer and more effective. They are currently awaiting TGA approval for distribution.\n\nThe interest in joint venture is accounted for using the equity accounting method and had a nil carrying value as at 30 June 2026 (30 June 2025: nil). The Group's share of loss from its JV was not recognised in the current year as the investment has been reduced to nil and the Group has no obligation to fund further losses.\n\nThe unrecognised share of losses of the JV for the reporting year was $2,108,754 (2025:$282,329). The cumulative share of losses for the JV for the reporting period was $2,510,142 (2025: $401,387).\n\nDilution of Interest in Tutelix Pty Ltd\n\nDuring FY26, Tutelix completed a Series A1 capital raise comprising the issue of 900 new ordinary shares and the conversion of Tutelix's outstanding SAFE notes into 1,049 ordinary shares on completion of the round (refer below). The Consolidated entity did not participate in the round and as a result, the Group's fully diluted ownership interest in Tutelix reduced from 50.00% to 38.92%.\n\nThe Group has assessed that it continues to have joint control of Tutelix notwithstanding the reduction in its ownership interest. The shareholders' agreement between the Group and Koda Ventures was not amended by the capital raise, and Tutelix therefore continues to be classified as a joint venture and is equity accounted accordingly. This is a significant judgement, as the Group's ownership interest is below 50%.\n\nThe carrying amount of the Group's investment in Tutelix remains nil (2025: nil), as the Group's cumulative share of Tutelix's losses exceeds the carrying amount of its investment.\n\nCarrying Amount and Share of Results\n\n(1) The Group held a 50.00% interest in Tutelix from 1 July 2025 to 10 May 2026, and a 38.92% interest from 11 May 2026 to 30 June 2026, following dilution on completion of the Series A1 capital raise. The Group's share of Tutelix's results for the year has been determined by applying the respective ownership percentage for each period.\n\nSAFE Note Conversion\n\nTutelix's SAFE (Simple Agreement for Future Equity) notes were classified by Tutelix as financial liabilities measured at fair value through profit or loss under AASB 9. Immediately prior to their conversion into ordinary shares on completion of the Series A1 round, the SAFE notes were remeasured to fair value .This remeasurement gave rise to a loss which was recognised in Tutelix's profit or loss for the period. On conversion, the SAFE liability was derecognised and ordinary share capital was recognised at the same fair value; no further gain or loss arose on conversion.\n\nThis remeasurement loss forms part of Tutelix's total comprehensive loss for the period and is reflected, to the extent of the Group's ownership interest, within the Group's share of results disclosed above.\n\nRestrictions, Commitments and Contingent Liabilities\n\nThe Group has no commitments relating to its interest in Tutelix, and no significant contingent liabilities relating to this investment, as at 30 June 2026 and 30 June 2025.", "table_ids": ["tbl-curated-p133-note-37-interests-in-joint-ventures", "tbl-curated-p134-note-37-interests-in-joint-ventures-carrying-amo"], "figure_ids": [], "page_start": 133, "page_end": 134, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "133", "printed_page_end": "134", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-38-cash-flow-information", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 38. Cash Flow Information"], "heading": "Note 38. Cash Flow Information", "text": "Reconciliation of loss after income tax to net cash used in operating activities\n\nChanges in liabilities arising from financing activities", "table_ids": ["tbl-curated-p135-note-38-cash-flow-information", "tbl-curated-p136-note-38-cash-flow-information"], "figure_ids": [], "page_start": 135, "page_end": 136, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "135", "printed_page_end": "136", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-39-share-based-payments", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 39. Share-Based Payments"], "heading": "Note 39. Share-Based Payments", "text": "Employee Incentive Program Tetratherix has a Employee Incentive Program (EIP) to provide long-term incentives to employees, including Key Management Personnel (KMP), in the form of performance rights. The EIP is designed to align employee interests with those of shareholders and to support staff retention.\n\nThe number of performance rights granted to participants is determined with reference to performance or service criteria. Once granted, the rights are subject to a vesting condition requiring the participant to remain continuously employed by the Group until the relevant vesting date.\n\nEach vested performance right entitles the holder to one ordinary share in the Company. The rights do not carry voting or dividend rights prior to vesting and automatically convert to ordinary shares upon vesting. The rights have no exercise price and no expiry date.\n\nDetails of the performance rights granted under the EIP during the year are set out in the table below:\n\n*The fair value of each performance right is equal to the market price of the Company’s ordinary shares at the grant date.\n\nMeasurement and Expenses Recognition The performance rights are equity-settled share-based payments. The fair value of the rights granted during the year was determined at the respective grant dates. As the vesting condition comprises continued service only, the fair value of each performance right is equal to the market price of the Company's ordinary shares at grant date. A valuation was also performed using the Black-Scholes option pricing model and no material difference was identified compared to the fair value determined as the market price of the Company's ordinary shares at grant date.\n\nShare-based payment expense is recognised over the vesting period, being the period from the grant date to the vesting date, based on grant date fair value of the rights and number expected to vest. Share based-payment expense recognised for the year ended 30 June 2026 in respect of performance rights issued under the EIP was $2,093,672 (30 June 2025: $464,632). The comparative expense related to the Company's legacy Employee Share Option Plan (ESOP), under which no options remained outstanding as at 30 June 2025.\n\nKey Management Personnel (KMP) Participation Included in the above grants are 520,833 performance rights issued to KMP during the period. These rights are granted under the same EIP as other employees, however may include terms, including vesting periods, specific to individual employees. Refer to note 34 Related Party Transactions.\n\nEquity Issued For Services During the year, the Company issued equity instruments to third-party service providers in satisfaction of services rendered to the Group. These instruments are  issued under the Company’s performance right plan for contractors whose services add to shareholder value.\n\nAs the fair value of the services received is reliably measurable, these transactions are measured directly at the fair value of the services received, in accordance with AASB 2 Share-based Payment, rather than by reference to the grant-date fair value of the equity instruments issued.\n\nOf the total $126,000 value of services attaching to these arrangements, $43,275 was recognised as an expense for the year ended 30 June 2026 (30 June 2025: $nil), reflecting the proportion of the service period elapsed at reporting date. The remaining $82,725 will be recognised in future periods as the balance of the service period elapses.\n\n*The fair value of each tranche of performances rights is equal to the value of the services that the equity was issued for, rather than grant date market price of the Company’s shares.", "table_ids": ["tbl-curated-p137-note-39-share-based-payments-performance-rights", "tbl-curated-p138-note-39-share-based-payments-options"], "figure_ids": [], "page_start": 136, "page_end": 138, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "136", "printed_page_end": "138", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-40-earnings-per-share", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 40. Earnings Per Share"], "heading": "Note 40. Earnings Per Share", "text": "Weighted Average Number of Ordinary Shares Used in Calculating Basic Earnings Per Share\n\nWeighted Average Number of Ordinary Shares Used in Calculating Diluted Earnings Per Share\n\n*As the Group incurred a net loss for the period, potential ordinary shares (including options and performance rights on issue) are anti- dilutive at the balance date, as their inclusion would decrease the loss per share. Accordingly, diluted loss per share is equal to basic loss per share, and potential ordinary shares have been excluded from the calculation of diluted earnings per share in accordance with AASB 133 Earnings per Share.", "table_ids": ["tbl-curated-p138-note-40-earnings-per-share"], "figure_ids": [], "page_start": 138, "page_end": 138, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "138", "printed_page_end": "138", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-note-41-events-after-the-reporting", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Note 41. Events After The Reporting Period"], "heading": "Note 41. Events After The Reporting Period", "text": "There are no matters subsequent to the end of the financial year that may significantly affect the consolidated entity’s operations, the results of those operations, or the Consolidated entity’s state of affairs in future financial years.\n\nTetratherix Limited Consolidated Entity Disclosure Statement As at 30 June 2026\n\nTetratherix Technology Pty Limited Body Corporate Australia 100% Australia\n\nTetratherix Industries Pty Limited Body Corporate Australia 100% Australia\n\nTrimph IP Pty Limited Body Corporate Australia 100% Australia\n\nTetratherix TLX Pty Limited Body Corporate Australia 100% Australia\n\nTetratherix BTX Pty Limited Body Corporate Australia 100% Australia", "table_ids": ["tbl-curated-p140-consolidated-entity-disclosure-statement"], "figure_ids": [], "page_start": 139, "page_end": 140, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "139", "printed_page_end": "140", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tetratherix-limited-directors-declaration-30-june", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Tetratherix Limited Directors’ Declaration 30 June 2026"], "heading": "Tetratherix Limited Directors’ Declaration 30 June 2026", "text": "In the directors' opinion:\n\nthe attached financial statements and notes comply with the Corporations Act 2001, the Accounting Standards,\n\nthe Corporations Regulations 2001 and other mandatory professional reporting requirements;\n\nthe attached financial statements and notes comply with International Financial Reporting Standards as issued\n\nby the International Accounting Standards Board as described in note 2 to the financial statements;\n\nthe attached financial statements and notes give a true and fair view of the Consolidated Entity's financial\n\nposition as at 30 June 2026 and of its performance for the financial year ended on that date;\n\nthere are reasonable grounds to believe that the Company will be able to pay its debts as and when they\n\nbecome due and payable; and\n\nthe information disclosed in the attached consolidated entity disclosure statement is true and correct.\n\nThe directors have been given the declarations required by section 295A of the Corporations Act 2001.\n\nSigned in accordance with a resolution of directors made pursuant to section 295(5)(a) of the Corporations Act\n\n2001.\n\nOn behalf of the directors\n\nWilliam Knox Director\n\nDr Ali Fathi Director\n\nDATE 20 August 2026 Sydney", "table_ids": [], "figure_ids": [], "page_start": 141, "page_end": 141, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "141", "printed_page_end": "141", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tetratherix-limited-independent-auditor-s-report", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["0.5 Financial Report", "Financial Report Table of Contents", "Independent Auditor’s Report to the Members of Tetratherix Limited 142", "Tetratherix Limited Independent Auditor’s Report 30 June 2026"], "heading": "Tetratherix Limited Independent Auditor’s Report 30 June 2026", "text": "Independent Auditor’s Report to the Members of Tetratherix Limited\n\nReport on the Audit of the Financial Report\n\nOpinion\n\nWe have audited the financial report of Tetratherix Limited (the Company and its subsidiaries (the Group)), which comprises the consolidated statement of financial position as at 30 June 2026, the consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information, the consolidated entity disclosure statement and the Directors’ declaration.\n\nIn our opinion, the accompanying financial report of the Group is in accordance with the Corporations Act 2001, including:\n\ni) giving a true and fair view of the Group’s financial position as at 30 June 2026 and of its financial performance for the year then ended; and\n\nii) complying with Australian Accounting Standards and the Corporations Regulations 2001.\n\nBasis for opinion\n\nWe conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the ‘auditor’s responsibilities for the audit of the financial report’ section of our report. We are independent of the Group in accordance with the Corporations Act 2001 and the ethical requirements of the Accounting Professional & Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.\n\nWe confirm that the independence declaration required by the Corporations Act 2001, which has been given to the Directors of the Company, would be in the same terms if given to the Directors as at the time of this auditor’s report.\n\nWe believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.\n\nKey audit matters\n\nKey audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial report of the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.\n\nKey audit matter\n\nLicence fee revenue\n\nRefer to notes 5 and 19 of the financial report.\n\nDuring the financial year, the Group entered into a significant licence agreement resulting in the recognition of licence fee revenue of $918,151 during the financial year and contract liabilities of $3,456,570 at 30 June 2026. The accounting for the arrangement was considered a key audit matter due to:\n\n- the complexity in determining the appropriate timing of revenue recognition under AASB 15 Revenue from Contracts with Customers;\n\n- the judgement involved in identifying performance obligations and assessing when the criteria for revenue recognition had been satisfied under the Superpower licence agreement;\n\n- the significance of licence revenue recognised during the year and deferred revenue balances recognised at year end; and\n\n- the significance of the arrangement to the Group's financial performance and financial position.\n\nGrant income – Industry Growth Program and R&D Tax Incentive\n\nRefer to notes 5 and 20 of the financial report.\n\nThe Group recognised grant income totalling $2,906,977 during the financial year and deferred income totalling $1,349,606 at 30 June 2026 from the above programs. The accounting for these arrangements was considered a key audit matter due to:\n\n- the judgement involved in determining the appropriate accounting treatment under AASB 120 Accounting for Government Grants and Disclosure of Government Assistance;\n\n- the assessment of whether amounts should be recognised as grant income, deferred\n\nHow our audit addressed the key audit matter\n\nOur procedures included, amongst others:\n\n- Obtained and reviewed the licence agreement and assessed management's application of AASB 15 Revenue from Contracts with Customers.\n\n- Evaluated the identification of performance obligations and the timing of satisfaction of those obligations.\n\n- Assessed management's recognition of licence revenue and deferred revenue balances against the contractual terms.\n\n- Tested revenue recognised during the year and agreed key inputs to supporting documentation and cash receipts.\n\n- Assessed the adequacy of the related financial statement disclosures.\n\nOur procedures included, amongst others:\n\n- Obtained and reviewed grant agreements and criteria and assessed management's application of AASB 120 Accounting for Government Grants and Disclosure of Government Assistance.\n\n- Evaluated whether elements of grant funding had been appropriately recognised as income, deferred income, or offset against capitalised development expenditure in accordance with AASB 120 and the Group’s accounting policy.\n\n- Tested grant income recognised during the year and agreed key amounts to supporting documentation and cash receipts.\n\nKey audit matter\n\nincome, or offsets against capitalised development expenditure;\n\n- the significance of grant income recognised during the year and deferred grant balances recognised at year end; and\n\n- the significance of these arrangements to the Group's financial performance and financial position.\n\nCapitalisation and recoverability of development costs\n\nRefer to note 16 of the financial report.\n\nAs at 30 June 2026, the Group recognised capitalised development costs of $1,125,730 relating to the development of new products.\n\nThe capitalisation and recoverability of these development assets was considered a key audit matter due to:\n\n- the judgement involved in determining whether the recognition criteria under AASB 138 Intangible Assets had been satisfied;\n\n- the estimation uncertainty associated with assessing the technical feasibility, commercial viability and future economic benefits of the underlying development projects;\n\n- the complexity of management's assessment of whether indicators of impairment existed and whether the carrying value of the development assets remained recoverable;\n\n- the significance of assumptions used in assessing the expected commercialisation of the products, including regulatory progress, market opportunities and future funding requirements; and\n\n- the significance of the development assets to the Group's financial position.\n\nHow our audit addressed the key audit matter\n\n- Assessed the appropriateness of deferred grant income recognised at year end.\n\n- Assessed the adequacy of the related financial statement disclosures.\n\nOur audit procedures included, amongst others:\n\n- Assessed management's application of AASB 138 Intangible Assets in determining whether development expenditure met the criteria for capitalisation.\n\n- Evaluated the technical feasibility of the underlying products through consideration of development milestones, regulatory progress and supporting technical documentation.\n\n- Assessed management's evaluation of the expected future economic benefits of the projects, including consideration of commercialisation plans, market opportunities and available supporting evidence.\n\n- Tested a sample of capitalised development expenditure to supporting documentation and assessed whether the nature of the expenditure met the requirements for capitalisation.\n\n- Evaluated management's assessment of impairment indicators and considered whether the carrying value of the development assets remained recoverable.\n\n- Assessed the adequacy of the related financial statement disclosures.\n\n- Held discussions with management regarding ongoing commercialisation activities, including negotiations with a preferred commercial partner.\n\nOther information\n\nThe Directors are responsible for the other information. The other information comprises the information in Tetratherix Limited’s annual report for the year ended 30 June 2026, but does not include the financial report and the auditor’s report thereon. Our opinion on the financial report does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated.\n\nIf, based on the work we have performed, we conclude that there is a material misstatement of the other information we are required to report that fact. We have nothing to report in this regard.\n\nDirectors’ responsibility for the financial report\n\nThe Directors of the Company are responsible for the preparation of:\n\na) the financial report (other than the consolidated entity disclosure statement) that gives a true and\n\nfair view in accordance with Australian Accounting Standards and the Corporations Act 2001; and\n\nb) the consolidated entity disclosure statement that is true and correct in accordance with the\n\nCorporations Act 2001, and\n\nfor such internal control as the Directors determine is necessary to enable the preparation of:\n\ni) the financial report (other than the consolidated entity disclosure statement) that gives a true and fair view and is free from material misstatement, whether due to fraud or error; and\n\nii) the consolidated entity disclosure statement that is true and correct and is free of misstatement,\n\nwhether due to fraud or error.\n\nIn preparing the financial report, the Directors are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.\n\nAuditor’s responsibility for the audit of the financial report\n\nOur objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report.\n\nA further description of our responsibilities for the audit of the financial report is located at The Australian Auditing and Assurance Standards Board website at: https://auasb.gov.au/media/bwvjcgre/ar1_2024.pdf. This description forms part of our auditor’s report.\n\nReport on the Remuneration Report\n\nOpinion on the Remuneration Report\n\nWe have audited the Remuneration Report included in pages 72 to 82 of the Directors’ Report for the year ended 30 June 2026.\n\nIn our opinion, the Remuneration Report of Tetratherix Limited for the year ended 30 June 2026, complies with section 300A of the Corporations Act 2001.\n\nResponsibilities\n\nThe Directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards.\n\nNexia Sydney Audit Pty Ltd\n\nErin Tanyag Director\n\nDated: 20 August 2026 Sydney", "table_ids": [], "figure_ids": [], "page_start": 142, "page_end": 146, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "142", "printed_page_end": "146", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-6-additional-information", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["6.Additional Information"], "heading": "6.Additional Information", "text": "The shareholder information set out below was applicable as at 23 July 2026.\n\nAnalysis of number of ordinary share holders by size of holding:\n\nMarketable Parcel\n\nBased on the price per security of $7.10 as at the close of trade on 23 July 2026, the number of holders with an unmarketable parcel holding is 31, holding an aggregate 656 shares amounting to 0.00% of issued capital.\n\nUnquoted Equity Securities – Performance Rights\n\nEquity security holders\n\nThe names of the twenty largest security holders of quoted equity securities* are listed below:\n\n*     Top 20 shareholders as per ASX Listing rule is for quoted securities only. Securities subject to mandatory escrow are not quoted on ASX.", "table_ids": ["tbl-curated-p148-distribution-of-ordinary-share-holdings", "tbl-curated-p148-distribution-of-performance-rights"], "figure_ids": [], "page_start": 147, "page_end": 149, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "147", "printed_page_end": "149", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-tetratherix-substantial-holders", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["6.Additional Information", "Tetratherix Substantial Holders"], "heading": "Tetratherix Substantial Holders", "text": "Unquoted Equity Securities – Performance Rights\n\nHolders of more than 20% of unlisted securities\n\nPartly Paid Shares\n\nThe Company does not have any partly paid shares on issue\n\nVoting Rights The voting rights attached to ordinary shares are set out below:\n\nOrdinary shares On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.\n\nThere are no voting rights attached to any other securities on issue\n\nRestricted securities & securities subject to voluntary escrow\n\nOther ASX information\n\nOn-market buy-back The Company is not currently conducting an on-market buy-back.\n\nCorporate Governance The Company’s Corporate Governance Statement as at 30 June 2026 as approved by the Board can be viewed at https://tetratherix.com\n\nStock Exchange on which the Company’s Securities are Quoted The Company’s listed equity securities are quoted on the Australian Securities Exchange.\n\nReview of Operations A review of operations is contained in the Directors' Report.\n\nAnnual General Meeting The Company advises that the Annual General Meeting (AGM) of the Company is scheduled for 12 November 2026.\n\nFurther to Listing Rule 3.13.1, Listing Rule 14.3 and clause 20.5 of the Company’s Constitution, nominations for the election of directors at the AGM must be received not less than 35 Business days before the AGM, being no later than 24 September 2026.", "table_ids": ["tbl-curated-p149-twenty-largest-ordinary-shareholders", "tbl-curated-p149-substantial-holders", "tbl-curated-p150-unquoted-performance-rights-holders-of-more-than", "tbl-curated-p150-restricted-escrow-shares-holders-of-more-than-20", "tbl-curated-p151-restricted-voluntary-escrow-securities"], "figure_ids": [], "page_start": 149, "page_end": 151, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "149", "printed_page_end": "151", "extraction_method": "semantic_reconstruction"}}
{"id": "chunk-sec-corporate-directory", "document_id": "ttx-ar-final-28ad070d047e", "section_path": ["6.Additional Information", "Corporate Directory"], "heading": "Corporate Directory", "text": "", "table_ids": ["tbl-curated-p152-corporate-directory"], "figure_ids": [], "page_start": 152, "page_end": 152, "content_type": "management_commentary", "provenance": {"source_document": "ttx-ar-final-28ad070d047e", "source_sha256": "28ad070d047ed77ba70bc12e64db3219123bdcaff652dc278d037ee140657676", "printed_page_start": "152", "printed_page_end": "152", "extraction_method": "semantic_reconstruction"}}