Bio Gene Technology : Appendix 4C - 31 March 2022

ASX ANNOUNCEMENT 27 APRIL 2022

MARCH 2022 QUARTERLY UPDATE

• • Announcement of commercial deal with Clarke Mosquito Control Products and positive progress on Evergreen Garden Care collaboration

• • Positive stored grain pest control results with FlavocideTM

• • Strategic Placement raises $1.5 million

• • Grant of U.S. patent and expansion of regulatory programs

Bio-Gene Technology Limited (ASX: BGT, 'Bio-Gene' or 'the Company'), an agtech development company enabling the next generation of novel insecticides, today announced an update on its activities for the quarter ending 31

March 2022 and to date.

Bio-Gene Chief Executive Officer and Managing Director, Richard Jagger said: "This last quarter has been a very significant period for Bio-Gene. The culmination of a lot of focused work by the team has seen some significant announcements which point to the validity of our strategy and our ability to create value in our technology. We are pleased to be delivering on the milestones articulated at our AGM last year, which in turn sets us up well for the rest of the calendar year."

Clarke Mosquito Control Agreement

In April 2022 Bio-Gene signed a licence and development agreement with Clarke Mosquito Control Products Inc.

('Clarke') to seek to develop, register and commercialise new insecticide solutions for professional public health mosquito control markets in the United States and Cayman Islands. Under the terms of this agreement Clarke will make licence fee payments over the next three years which will assist on-going development work by Bio-Gene that is required to secure registration of mosquito control products featuring the active ingredient Flavocide in the United States. Once a commercial product is launched, Clarke's exclusive access to Flavocide for mosquito control products will be upheld through a combination of technical transfer fees commensurate with active ingredient production costs and royalty payments on all end-use product sales containing Bio-Gene's Flavocide technology.

The Agreement with Clarke outlines the commercial pathway and obligations of both parties, including the registration requirements of the Active Ingredients and end use products. Bio-Gene will supply Clarke with the

Active Ingredient Flavocide, with Clarke having the responsibility of developing and registering end use products, which will complement Bio-Gene's data procurement and application for the Active Ingredient registration. This

represents a financial commitment on the part of Clarke over the next five years as the work continues.

Evergreen Garden Care

Since the announcement in October 2021 of the commercial development agreement with Evergreen Garden Care, a series of project team meetings has been undertaken. These meetings focus on both the testing program and the regulatory processes associated with registration of both Active Ingredient and end use product. This project is focused on consumer pest control markets in Europe, UK, Australia and New Zealand. Under the agreement,

Evergreen is committed to developing, registering and commercialising end-use-products for control of flying and crawling insect pests in these markets. Evergreen's commitment also extends to financial support to Bio-Gene's

development and registration costs.

Flavocide grain storage project

Positive results from the latest stored grain trial were announced in March 2022, showing efficacy of Flavocide combination treatments over the targeted 9-month protection period. This was stage three of a collaboration project undertaken by the Department of Agriculture & Fisheries, Queensland (DAF), as the trials researcher, andpartly funded by BASF and the Grains Research & Development Corporation (GRDC). The residual efficacy study was designed to demonstrate the effectiveness of the combination treatment to control five of the key stored grain pests, being the Lesser grain borer, Flour beetle, Saw-toothed grain beetle, Flat grain beetle and Rice weevil.

Together with previous Flavocide efficacy testing results, the latest results form the basis for Flavocide product label recommendations for control of the major pest species impacting grain storage. A project team meeting was held in February 2022 to review progress and discussions are now progressing with the collaboration partners to determine next steps for this project.

Commercial Partner Discussions

Bio-Gene is continuing to actively engage with other potential commercial partners to promote our technology and support evaluation programs targeting uses in multiple market segments. Several collaborations are now operating under Material Transfer Agreements (MTA) and offer future commercial opportunities for both Flavocide and

QcideTM to broaden the scope of use of our technology. The recent agreements with Evergreen and Clarke provide confidence that the commercialisation strategy adopted by Bio-Gene is one that can be successful with a number of partners working in different geographies and market segments. It is our intention to attract more partners under similar commercial arrangements.

Capital Raise

In March 2022, the Company successfully secured a shareholding relationship with a new high net worth family, based here in Australia by completing a strategic placement to raise $1.5 million. We were initially approached by this family with strong interest in the Company's advancements to date and future opportunities. This investor sees the potential behind Bio-Gene's business model, and we look forward to a long relationship. The support from a

significant new investor represents further affirmation of our technology and strategy and complements the industry validation we have received by way of our initial partnerships and material transfer agreements.

Along with the funds raised in a placement to existing and new shareholders in December 2021, these funds will enable us to progress the programs we have in place with our commercial partners, particularly in respect of the major registration enabling studies we wish to undertake. In addition, these funds will ensure Bio-Gene can further expand its company funded efficacy studies which will support further commercialisation discussions and continue our manufacturing development programs for Flavocide and Qcide. All of these next steps are expected to strengthen Bio-Gene's value proposition for shareholders and our current and future commercialisation partners.

Intellectual Property

Following on from our recent patent allowances in Australia and the U.S., U.S. patent No. 11,259,522 was granted by the United States Patent Office in early March. This patent includes claims covering the control of resistant insect pests infesting an agricultural environment, and in particular grain storage pests. The patent will expire in July 2038.

Examination of additional patent applications is continuing to be undertaken by other patent offices in countries around the world. Via our internally funded research, we continue to look at opportunities to support additional patent applications that would offer additional value to Bio-Gene and our commercial partners.

Appointment of Head of Regulatory Affairs

In early February 2022, Bio-Gene announced the appointment of Sarah Driessens to the role of Head of Regulatory Affairs with global responsibilities. Sarah is a highly experienced regulatory professional with extensive experience in crop protection, consumer and professional pest control markets, gained while working with Bayer and

Monsanto while based in Europe. Sarah's appointment adds significant expertise and resource to the company

that will greatly assist the increased focus on registration programs with Flavocide and Qcide. This is a strategic appointment for Bio-Gene, and the experience Sarah brings to the company in the regulatory process, complemented by her technical expertise will ensure we can manage the registration process of our Active Ingredients as efficiently as possible. Sarah will drive the formulation and implementation of the regulatory strategy focused on Australia and Europe to support our collaboration with Evergreen Garden Care, and the US registration to support the program with Clarke Mosquito Control Products.

Development of Active Ingredient International Registration Package

Following comprehensive data gap analyses of our current regulatory product data packages undertaken by local and international regulatory and other expert consultants, we have identified and prioritised data requirements for registration of both Qcide and Flavocide in key target markets including Australia, Europe and the USA. This has formed the basis for the next phase of focused studies in the areas of mammalian toxicity, ecotoxicity, environmental fate and product chemistry. Local and overseas laboratories have been engaged to undertake definitive, and in most cases Good Laboratory Practice (GLP) studies, aimed at addressing key areas of the regulatory package. Arrangements have also been confirmed with regulatory consultants in target jurisdictions to confirm registration pathways and initiate the regulatory processes through contact with regulatory agencies. This will also complement engagement with commercial partners and ensure close alignment with programs to achieve timely registrations for both Active Ingredient and end use products for specific uses.

Manufacturing

Flavocide: A major project relating to manufacture of Flavocide has been the five-batch production program undertaken with Boron Molecular. This project is now nearing completion with only the final step of the fifth batch pending. A key outcome from the project is the confirmation of detailed standard operating procedures (SOP) for the manufacture of Flavocide to a target specification. This is supported by extensive chemical analyses of key components of the process to demonstrate consistency in processing conditions and product outcomes. All of these steps are critical components of our Active Ingredient registration dossier.

Other projects underway relating to Flavocide manufacture focus on further identifying and investigating process improvements, including alternative non-core reagents and recovery/recycle opportunities. These programs aim to provide further reductions in production costs, which will lead to improved market competitiveness and profitability for Bio-Gene and our partners.

Qcide: Another harvest and associated farm experimentation program was undertaken in February 2022. This again involved James Cook University (JCU) engineering and evaluated steps to improve the speed of initiation of extraction of Qcide oil from leaf biomass. A further five bins (batches) were processed under standard conditions that again demonstrated consistency in the extraction process and ability to produce oil to a target specification and tasmanone content. This is important data for our registration process as well as future profitability. A new harvester was also commissioned as part of the February harvest, which performed extremely well and offers potential to better process biomass and improve efficiency of oil extraction.

Company Presentations

During the quarter, our CEO visited with potential investors in the USA, Melbourne, and Sydney. There are plans for the CEO to visit investors in other states now that Covid-19 travel restrictions have been relaxed across Australia.

The CEO was also a participant for a panel discussion on future food sustainability as part of the Credit Suisse Asia Investor Conference.

We continue to build on our social media interactions with regular communications on company activities and global issues relevant to our business development activities. These and on-going updates can be found on our social media pages:

• • LinkedIn: -https://au.linkedin.com/company/bio-genetechnology

• • Twitter: -https://twitter.com/biogenetechltd

The Company will continue to focus on investor briefings and industry presentations over the course of the year.

Cash Position

As at 31 March 2022, Bio-Gene held $7.2 million in cash, which based on current plans, provides the Company with sufficient cash to operate well beyond 12 months. During the quarter, the Company received R&D rebates from the Australian government to the value of $514,000.

Approved for release by the Board of Directors.

- ENDS -

For further information, please contact:

Bio-Gene Technology Limited:

Media/investor relations:

Bio-Gene is an Australian agtech company enabling the next generation of novel insecticides. Bio-Gene's novel platform technology is based on a naturally occurring class of chemicals known as beta-triketones.

Beta-triketone compounds have demonstrated insecticidal activity (e.g. kill or knock down insects) via a novel mode of action in testing performed to date. This platform may provide multiple potential new solutions for insecticide manufacturers in applications across crop protection and storage, public health, consumer applications and animal health. The Company's aim is to develop and commercialise a broad portfolio of targeted insect control and management solutions, working with industry leaders across key market segments.

FlavocideTM and QcideTM are trademarks of Bio-Gene Technology Limited.

Appendix 4C

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

Appendix 4C

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

Name of entity

Bio-Gene Technology Limited

ABN

32 071 735 950

Quarter ended ("current quarter")

31 March 2022

ASX Listing Rules Appendix 4C (17/07/20)

+ See chapter 19 of the ASX Listing Rules for defined terms.

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