Material Business Risks Finance and Capital While the Company has sufficient forecast cash resources to sustain operations for the next twelve months operations, beyond this, the ability of the Company to continue as a going concern is principally dependant upon the ability of the company to secure additional working capital. These funds may be made up of loans or by raising capital from equity markets. The Company is carefully managing cash flows in line with available funding. There is a risk that the company may be unable to secure adequate funding to sufficiently fund its core operations. Commercialisation Success The Company faces the risk that it does not successfully commercialise technologies from its drug development pipeline. There are no guarantees that the Company will be able to negotiate attractive commercial terms for future licence agreements. The Company proactively engages with key stakeholders to manage this risk. Competition and New Technologies There is the risk from the effect of the development of similar or superior technologies that may impact the commercialisation of the Company’s current technology platforms. This risk is mitigated by strong intellectual property (“IP”) protection, being first to market and the continual monitoring of identified competitive IP. Drug Development Failure There is the potential for lead drug candidate failure due to issues with safety and toxicity, the generation of non-supportive data to a method of action, efficacy signals or biomarker identification or sub therapeutic PK levels. The Company seeks to reduce this risk by having a robust drug development pipeline and alternative drug candidates. The Company uses a matrix to select the lead drug candidate using in vitro and in vivo data. Cyber Security Like every company in the world Noxopharm’s systems, data, and networks are subject and vulnerable to malicious attacks, including computer viruses, spyware, ransomware, and hosts of other emerging security concerns. The company has spent and continues to spend considerable resources to prevent unauthorized accesses, data loss, and cyber malicious attacks, using the best of breed cyber security systems. Annual Report 2025 12
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