Immuron Ltd

FORWARD-LOOKING STATEMENTS:

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

22 S E PT E M BE R 2026 INVESTOR PRESENTATION S teve n Lyde a m ore - C EO NASDAQ: IMRN ASX: IMC

Certain statements made in this presentation are forward - looking statements and are based on Immuron’s current expectations, estimates and projections. Words such as “ anticipates,” “expects,” “intends,” “plans,” “believes,” “ seeks,” “estimates,” “guidance” and s imilar expressions are intended to identify forward - looking statements. Although Immuron believes the forward - looking statements are based on reasonable assumptions, they are subject to certain r i sks and uncertainties, some of which are beyond Immuron’s control, including those r i sks or uncertainties inherent in the process of both developing and commercializing technology. As a result, actual results could materially differ f rom those expressed or forecasted in the forward - looking statements. The forward - looking statements made in this presentation relate only to events as of the date on which the statements are made. Immuron will not undertake any obligation to release publicly any revisions or updates to these forward - looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by l aw or by any appropriate regulatory authority. FY 2026 results in this presentation are subject to audit review. SAFE HARBOR STATEMENT

Immuron Ltd is an Australian integrated biopharmaceutical company with global scale, focused on developing, and commercialising, oral products for the treatment of gut mediated diseases Research & Development 2 pipeline assets to be partnered for development and commercialization Global footprint Australia, US, Canada and expanding Technology Platform Safe and potentially transformational approach to gut infections Our Products • Reduce the risk of Traveller’s Diarrhoea • Sold in pharmacies Australia - wide • Available in Australia, USA and Canada • Treatment of symptoms associated with Irritable Bowel Syndrome (IBS) • Sold in pharmacies Australia - wide • Exclusive distribution agreement executed for the United States in September 2026 Corporate Research Independent Buy recommendation Major Shareholders Financial Snapshot Shares on Issue 322,848,081 Total Options 11,767,491 Last Traded Price IMC: A$0.046 52 week High/Low IMC: A$0.098/0.026 IMRN: $2.39/0.6765 Market Cap IMC: A$14.85m Cash (30 June 2026) A$9.0m % of CSO Units Holder 45.55 % 147,049,504 BNY Mellon Asset Management 2.03% 6,566,869 Board and Employees 1.86 % 6,000,000 Dr Russell Hancock 1.70 % 5,500,000 Authentics Australia Pty Ltd

4 FY26 Financial Achievements Global Sales Revenue $7.7m Up 6% Australian Sales Revenue $5.8m Up 10% United States Sales Revenue $1.8m Up 7% Up 13% in $USD Gross Profit Margin 64.5% 0.9% decline Net Profit $(3.8)m $1.4m improvement Cash $9.0m $6.2m 1 improvement 1. $3.0 million was held in Term Deposits on 30 June 2025 (30 June 2026: Nil)

5 FY26 Clinical Achievements and Operational Highlights FDA approval IMM - 529 IND Travelan® n= 851 trial completed New U.S. Department of Defense subaward New product launch in Australia Engaged Pullan Consulting to support partnering IMM - 529 Strategic reset aimed at profitability and reduced cash burn

6 FY27 Outlook Continued Travelan® sales growth Portfolio expansion Geographic sales expansion Partnering update for IMM - 529 Cash to fund operations through FY27 – FY28 Continued improvement in profitability and reduced cash burn

7 Immuron strategic reset provides clearer path to profitability Immuron has taken a strategic decision to partner clinical assets IMM - 124E and IMM - 529 for development and commercialization. • IMM - 124E is eligible for an end of Phase 2 meeting with the U.S. FDA (indication: traveler’s diarrhea) • Lumanity 1 peak U.S. sales estimate of US$102 million • IMM - 529 has an investigational new drug (IND) application approved by the U.S. FDA and is ready to go into Phase 2 clinical trials (indication: Clostridioides difficile infection) • Lumanity 1 peak U.S. sales estimate of US$400 million • Under a partnering model, the licensee typically funds development, registration and commercialization costs and pays the licensor an upfront licensing fee, milestone payments and royalties on sales • This partnering strategy removes the uncertainty of how Immuron would fund these assets through to commercialization • Partnering has the potential to bring forward monetization of these assets • The reduction in R&D expenses (net of R&D Tax Incentive) will improve profitability and decrease cash burn • Immuron has sufficient cash ($9 million @ 30 June 2026) to fund commercial operations (over the counter (OTC) sales of Travelan® and P RO IBS® • Exclusive distribution agreement executed for the United States in September 2026 - Immuron continues to evaluate opportunities to broaden distribution and to add complementary products to its OTC portfolio 1. Lumanity global healthcare consulting

8 IMM - 529: A First - in - Class Triple - Action CDI Biologic The Opportunity : IMM - 529 is an oral, non - systemic biological (hyperimmune bovine colostrum) for treatment and prevention of primary and recurrent Clostridioides difficile infection (CDI). Unlike antibiotics, IMM - 529 eliminates the pathogen without disrupting the gut microbiome, directly addressing the root cause of CDI disease recurrence. Key Highlights: 1. Unique Triple - Action Mechanism : The only asset in clinical development that simultaneously targets all 3 drivers of CDI: Toxin B , Vegetative Cells & Spores 2. Exceptional Pre - clinical Efficacy : o Prevention : ~80% survival rate without antibiotics o Treatment : ~80% survival rate (comparable to vancomycin) o Relapse : ~90% survival rate (vs. 11 - 22% in controls) 3. Microbiome Preservation : IMM - 529 does not destroy gut flora, allowing the microbiome to recover while neutralizing the infection — a critical advantage over standard - of - care antibiotics 4. Broad Strain Reactivity : Multi - strain effective including hypervirulent strains (027 and 078 ribotypes) 5. Clinical Readiness : FDA IND approved for Phase 2 clinical study

The Disease: C. difficile is the leading cause of healthcare - associated infection causing 400,000 cases and 30,000 deaths in the US annually Disease spectrum: • Mild - to - moderate : Watery persistent diarrhea, cramping • Severe/Pseudomembranous Colitis (PMC) : Colon wall plaques • Fulminant CDI : Toxic megacolon, sepsis, and potential bowel perforation, death Who’s at risk: Adults 65+, immunocompromised patients, antibiotic users, and Proton Pump Inhibitors users. Problem with current treatment: Antibiotics eliminate pathogens, indiscriminately disrupt the gut microbiome, hinder flora regeneration, and leave 25% patients vulnerable to recurrent infection within 30 days, rising to 65% after multiple episodes Market opportunity: The diagram represents the funnel from the clinical burden to Immuron's target revenue: • TAM (Total Addressable Market): 100% of all recurrent CDI patients globally at regional pricing. • SAM (Serviceable Addressable Market): The subset of patients expected to be treated with advanced therapy (e.g., FMT, Vowst, Rebyota, or IMM - 529). • SOM (Serviceable Obtainable Market): The peak revenue based on Immuron capturing 30% of the advanced therapy segment. 9 IMM - 529 Market Potential

10 IMM - 529 Deal Potential Status update (as of March 2026) Stage at deal Financial terms (public) Licensed Asset Licensee / Acquirer Licensor / Asset Owner Year FDA approved (Apr 2023) and commercialized by Nestlé Health Science; global rights consolidated under Nestlé via the 2024 transaction. ( U.S. Food and Drug Administration ) Marketed Asset sale signed Aug 2024 (public reporting indicates deal structure included upfront and additional payments; exact totals vary by source and filings). ( BioSpace ) VOWST (SER - 109) business (oral microbiota spores) Nestlé Health Science Seres Therapeutics 2024 Phase 3 preparation continues, including work on a more patient friendly capsule formulation and regulatory alignment on Phase 3 design. ( AMR Bio ) Phase 3 ready Upfront $1M; up to $570M milestones (incl. $19M development and up to $550M sales) plus royalties. ( FT Markets ) NTCD - M3 (non toxigenic C. difficile strain, live biotherapeutic) Sebela Pharmaceuticals Destiny Pharma 2023 Became FDA approved Apr 2023; subsequently commercialized and later moved into the 2024 asset sale to Nestlé (row above). ( U.S. Food and Drug Administration ) Phase 3 $175M upfront; $125M on FDA approval; up to $225M sales milestones; profit share structure. ( Business Wire ) SER - 109 (later VOWST) Nestlé Health Science Seres Therapeutics 2021 FDA approved Nov 2022 for prevention of recurrent CDI; marketed as REBYOTA. ( Ferring Global ) Phase 3 Acquisition (terms not fully disclosed publicly). ( Ferring Global ) RBX2660 (later REBYOTA), microbiota suspension Ferring Pharmaceuticals Rebiotix 2018 Phase 3 program did not meet superiority vs vancomycin; Summit later focused its strategy on oncology (ivonescimab). ( Fierce Biotech ) Phase 2/3 $2.5M upfront; up to $25M milestones plus royalties. ( BioSpace ) Ridinilazole (small molecule antibiotic) Eurofarma Summit Therapeutics 2017 Partnership was later unwound and the microbiome candidates returned; Assembly ultimately exited microbiome work. Note: public deal descriptions emphasize UC and Crohn’s, not CDI. ( Fierce Biotech ) Preclinical $50M upfront plus milestones and royalties (per deal announcement coverage). ( BioSpace ) Microbiome GI programs (often cited as ABI - M201, ABI - M301; not CDI specific) Allergan (later AbbVie) Assembly Biosciences 2017

IMMURON LIMITED (ASX:IMC / Nasdaq:IMRN) | Institutional Investor Snapshot FY2026 Revenue A$7.7m FY26 +6% YoY Market Cap. A$14.85m 17 September 2026 Cash A$9.0m @30 June 26; 24 - month runway Pipeline 2 Assets Partnering focus Investment Thesis • Commercial - stage biotech with recurring OTC revenue • Proprietary Hyper - Immune technology platform • Dual value drivers: sales growth + licensing potential • Strategic reset aimed at profitability and reduced cash burn Catalysts (12 - 18 months) Q1: Continued Travelan growth Q2: Portfolio expansion Q3: IMM - 529 partnering progress Q4: Geographic expansion and EBITDX ex - R&D 1 improvement Risk / Reward Assessment LOW: Cash runway MEDIUM: Sales execution HIGH UPSIDE: IMM - 529 licensing event TRANSFORMATIONAL: Upfront + milestone deal economics Investor Conclusion Immuron is a company transitioning from development - led to commercially focused growth. Revenue trends remain positive, cash is sufficient to support operations, and management is seeking external partners for IMM - 529 and Travelan® to unlock value while limiting funding risk. The principal valuation catalyst is a successful transaction for IMM - 529, which management highlights as a potentially large market opportunity ( Clostridioides difficile infection ; Lumanity peak sales estimate in the U.S. US$400 million). 1. Earnings before Interest Tax Depreciation and FX and ex - R&D: Research & Development expenses, R&D Tax Incentive and R&D grants

EMAIL: STEVE@IMMURON.COM PHONE: AUSTRALIA: +61 438 027 172 STEVEN LYDEAMORE CHIEF EXECUTIVE OFFICER IMMURON LIMITED CONTACT INFORMATION: