Immuron Limited Appendix 4D Half-year report 1. Company details Name of entity: Immuron Limited ABN: 80 063 114 045 Reporting period: For the period ended 31 December 2024 Previous period: For the period ended 31 Decembe

2. Results for announcement to the market

3. Net tangible assets

The calculation of net tangible assets excludes right-of-use

assets arising from AASB 16 Leases.

4. Explanation of results

An explanation of the key financial elements contributing to

the revenue and result above can be found in the review of operations included within the directors' report.

No dividends have been paid or declared by the company for

the current financial period. No dividends were paid for the previous financial period.

6. Changes in controlled entities

There have been no changes in controlled entities during the

period ended 31 December 2024.

7. Details of associates and joint venture entities

The financial statements have been reviewed by the group's

independent auditor without any modified opinion, disclaimer or emphasis of matters.

the half-year ended 31 December 2024

interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this

report should be read in conjunction with the annual report for the year ended 30 June 2024 and any public announcements made by Immuron

Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

of operations and activities

of operations and activities

Limited has reported a loss for the half-year ended 31 December 2024 of A$2,488,819 (31 December 2023: A$2,073,182).

group's net assets decreased to A$10,339,516 compared with A$12,709,484 at 30 June 2024, including cash reserves of A$7,736,399 (30 June

2024: A$11,657,315).

from ordinary activities for the half-year ended 31 December 2024 was A$3,994,341 (31 December 2023: A$2,355,580) for Hyperimmune products.

profit of A$2,657,049 (31 December 2023: A$1,580,348).

Operating loss of A$2,538,791 (31 December 2023: A$2,020,028).

half yearly sales of A$4.0 million for HY25 up A$1.6 million on HY24

Sales of Travelan increased to AUD $2.9 million in HY25, compared to AUD $1.9 million in HY24. Sales increased by $1.0 million (54%).

Sales of Travelan increased to AUD $0.7 million in HY25, compared to AUD $0.5 million in HY24. Sales increased by $0.2 million (52%).

Sales of Travelan increased to AUD $0.4 million in HY25 compared to zero in HY24.

submits IMM-529 pre-IND to FDA

filed a pre-IND (investigational new drug) application with the United States Food and Drug Administration (FDA) for IMM529. The increased

incidence of antibiotic resistant superbugs' has amplified the use of broad-spectrum antibiotics worldwide. An unintended

consequence of antimicrobial treatment is disruption of the gastrointestinal microbiota, resulting in susceptibility to opportunistic

pathogens, such as Clostridioides difficile (C. diff). Paradoxically, treatment of Clostridioides difficile infection (CDI) also involves

antibiotic use, and the heavy reliance on antibiotics to control C. diff does not allow for the gut flora to regenerate and predisposes

the patient to relapsing CDI.

diff is currently the most common pathogen in healthcare associated infections and was deemed an urgent threat in the Center for Disease

Control and Prevention's report on antibiotic resistance threats in the United States (CDC, 2019). CDI affects over 400,000 people

in the US on a yearly basis, contributing to over 30,000 deaths in the US alone annually. This serious health threat has led to an urgent

call for the development of new therapeutics to reduce or replace the use of antibiotics to treat bacterial infections.

address this need, Immuron is developing IMM-529 as an adjunctive therapy in combination with standard of care antibiotics for the prevention

and/or treatment of recurrent CDI. IMM-529 antibodies targeting C. diff may help to clear CDI infection and promote a quicker re-establishment

of normal gut flora, providing an attractive oral preventative for recurrent CDI.

is collaborating with Dr. Dena Lyras and her team at Monash University, Australia to develop vaccines to produce bovine colostrum-derived

antibodies. Dairy cows were immunised to generate hyperimmune bovine colostrum (HBC) that contains antibodies targeting three essential

C. diff virulence components.

of operations and activities

targets Toxin B (TcB), the spores and the surface layer proteins of the vegetative cells. This unique 3-target approach has yielded promising

results in pre-clinical infection and relapse models, including (1) Prevention of primary disease (80% P =0.0052); (2) Protection of

disease recurrence (67%, P 0.01) and (3) Treatment of primary disease (78.6%, P0.0001; TcB HBC). Importantly IMM-529 antibodies cross-react

with whole cell lysates of many different human strains of C. diff including hypervirulent strains. To our knowledge, IMM-529 is, to

date, the only investigational drug that has shown therapeutic potential in all three phases of the disease. https://doi.org/10.1038/s41598-017-03982-5

achieves record Travelan sales

provides IMM-124E (Travelan ) Phase 2 additional data analysis of Protective Efficacy

Announces New U.S. Department of Defense Research Award for Naval Medical Research Command and Walter Reed Army Institute of Research

U.S. Department of Defense has funded a new program for the Naval Medical Research Command and Walter Reed Army Institute of Research

to develop enhanced formulations of Travelan potentially expanding the coverage of the product as a therapeutic against endemic

military relevant diarrheal pathogens. This work will utilize the extensive experience of the U.S. Department of Defense human infectious

disease vaccine programs and will target key protective antigens of the major enteric bacterial pathogens Campylobacter, Shigella and

Enterotoxigenic E. coli strains not present in the current product formulation. Immuron will negotiate a sub award for this new collaboration

with NMRC and WRAIR to advance this research.

Plans Phase 2 Trial for IMM-529 following FDA review

received favourable feedback from the United States Food and Drug Administration (FDA) on the pre-IND (investigational new drug) information

package to support the clinical development of IMM-529. Following the FDA's guidance and feedback, the Company now plans to file

an investigational new drug (IND) application for IMM-529 to prevent or treat Clostridioides difficile infection (CDI) during the first

half of 2025, followed by a Phase 2 trial of IMM-529 in individuals with Clostridioides difficile infection.

of operations and activities

Reports Results for Campylobacter Controlled Human Infection Model Study

Naval Medical Research Command completed the interim analysis for the clinical evaluation of a new oral therapeutic targeting Campylobacter

and Enterotoxigenic Escherichia coli (ETEC).

Department of Defense

CEO provides key updates at 21st Virtual Investor Summit Microcap Event

of operations and activities

Announces Travelan Clinical Trial Update

(IMM-124E) Phase 2 Clinical Study

A Randomized, Double-blind, Placebo-controlled Trial Assessing the Efficacy of IMM-124E (Travelan ) in a Controlled Human Infection

Model for Enterotoxigenic Escherichia Coli (ETEC)

significant lower levels of IgA and IgG were observed for the subjects who received Travelan compared to those who received

the placebo, which may also reflect levels of exposure to ETEC antigen. Travelan antibodies target and bind to ETEC antigen in the

gastrointestinal tract, block LPS epitopes and therefore reduce antigen exposure, resulting in lower overall IgA and IgG antibody titers.

data also demonstrated there was a statistically significant reduction in the number of colony forming units (CFUs) in

the stools of subjects who received Travelan (p =0.0121), measured 48 hours post challenge, indicating faster clearance of the challenge

strain from the GI tract.

in the Travelan group have a more stable gastrointestinal microbiota over the treatment time period when compared with the Placebo

group. Alpha diversity, a measurement of the richness (how many different species) and evenness (abundance or number of different species)

revealed that the Travelan group had improved richness and Shannon diversity results compared to the Placebo group. The data indicated

a difference in the richness in the diversity of certain species rather than just the abundance or number of bacterial species between

significant differences were identified between the two treatment groups in the Beta diversity tests (number of species and abundance).

The relative abundance results revealed that the Travelan group had increased levels of beneficial bacteria such as Akkermansia and Faecalibacterium.

The differential abundance results confirmed increases in Agathobaculum, Slackia the Eubacterium eligens group, and the Eubacterium siraeum

group; and decreases in Rumminococcus and Bacteroides. The abundance data indicates a possible link between the species of bacteria associated

with reduced inflammation.