25 Nov

Financial Statements for the year ending 30 June 2020

ABN: 13 488 640 554. Liability limited by a scheme approved under Professional Standards Legislation UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF BIOME AUSTRALIA LIMITED ABN: 51 627 364 014 I declare that, to the best of my knowledge and belief, during the year ended 30 June 2020 there have been: (i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and (ii) No contraventions of any applicable code of professional conduct in relation to the audit. JTP ASSURANCE WAYNE TARRANT Chartered Accountants Partner Signed at Melbourne this 23 rd day of November 2020 6 BIOME AUSTRALIA LIMITED ABN: 51 627 364 014 BIOME AUSTRALIA LIMITED Report on the audit of the financial report Opinion We have audited the accompanying financial report, being a general purpose financial report of Biome Australia Limited (the Company) and Controlled entities (the Group), which comprises the consolidated statement of financial position as at 30 June 2020, the consolidated statement of profit or loss and comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the period then ended, notes comprising a summary of significant accounting policies and other declaration. In our opinion, the financial report of the Company and Controlled entities is in accordance with the Corporations Act 2001 , including: (a) giving a true and fair view of the Group 30 June 2020 and of its performance for the period ended on that date; and (b) complying with Australian Accounting Standards and the Corporations Regulations 2001 . Basis for Opinion We 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 auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Material Uncertainty Related to Going Concern We draw your attention to Note 2 (Going Concern) in the financial report, which indicates the Group incurred an operating loss of $3,162,163 and a negative cash outflow from operating activities of $3,220,854. As stated in Note 2, this event or condition, along with other matters as set forth in Note 2, indicate that a material continue as a going concern. Our opinion is not modified in respect of this matter. 38 ABN: 13 488 640 554. Liability limited by a scheme approved under Professional Standards Legislation Other Information The directors are responsible for the other information. The other information comprises the information included in the Group annual report for the year ended 30 June 2020 but does not include the financial report and our Our opinion on the financial report does not cover the other information and accordingly 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. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the Directors for the Financial Report The directors of the Company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, 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 has no realistic alternative but to do so. ies for the Audit of the Financial Report Our 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 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report. Further description of our responsibilities for the audit of the financial report is located at The Auditing and Assurance Standards Board Website at http://www.auasb.gov.au/Home.aspx. This report. We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. JTP ASSURANCE WAYNE TARRANT Chartered Accountants Partner Signed at Melbourne this 23rd day of November 2020 3 9

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