I am pleased to report that the company has made significant progress over the past year, especially in advancing our proprietary Sofra™ technology platform. The most notable achievement is that we have taken SOF-SKN™, our first asset from the platform, from preclinical studies into a clinical trial. This achievement should not be underestimated, as to conduct all the necessary studies and regulatory work to allow the drug to be tested on actual people is no small matter. It is especially satisfying because we were able to implement it quickly and with great professionalism, clearly demonstrating our ability to take promising research and translate it into a clinical trial in a relatively short space of time. This is our strategy in action. A clinical trial also makes our technology more tangible to other companies and is a crucial step in showing its potential in real-world settings. On this note, over the last 12 months we have signed several more Material Transfer Agreements with companies looking to explore the commercial potential of our assets. It is fair to say there has never been so much external stakeholder interest in any technology Noxopharm has developed over the course of its existence as there is today. These projects involve different companies looking at our Sofra assets for different purposes, and we are glad that so far we have been allowed to name two of those companies publicly. We hope that we will be able to reveal more of these arrangements in the future, contractual circumstances permitting, and will of course continue to push ahead with new external relationships whenever we see a benefit. Annual Report 2025 5 Chairman’s Letter Significant progress Dear fellow Shareholders,
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