Genetic Signatures (GSS) Investor update summary

Organizational Review and Restructuring

• Identified underperformance in the U.S. market, lack of a scalable business model, and overlapping functions with high fixed costs impacting productivity.

• Restructured the organization, reset leadership accountabilities, and implemented an annualized AUD 5 million cost reduction to align costs with revenue.

• Retained key talent despite a 30% workforce reduction, maintaining a strong talent pool in molecular diagnostics.

• Established new purchasing processes and controls, focusing on outsourcing non-core functions for efficiency.

• Initiated AI enablement in administrative and product development functions to drive productivity.

Product and Market Strategy

• Proprietary 3base Technology offers superior sensitivity, regulatory approvals, and remains a defensible differentiator with potential for broader applications.

• EasyScreen assays meet regulatory standards in multiple jurisdictions and have strong hospital value propositions.

• Product upgrades addressed supply chain and workflow issues, supporting long-term contracts and mitigating risks.

• Focus on expanding in Australia and EMEA, with APAC as the next growth target; U.S. market entry paused pending scalable model.

• Instrumentation pool is sufficient for current and near-term growth in EMEA, APAC, and Australia, reducing need for capital expenditure.

U.S. Market and Operational Adjustments

• U.S. market entry paused due to reimbursement challenges, incomplete pathogen coverage, workflow automation gaps, and evolving competition.

• Optimus Prime project paused alongside U.S. market entry to reassess strategy and avoid unnecessary investment.

• Maintaining relationships with three U.S. reference labs while addressing root causes of slow market uptake.