Albert VENTURES (1) LP SUMMARY OF TERMS FOR PROPOSED FINANCING (1 May 2022) Albert Ventures I...

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Albert VENTURES (1) LP SUMMARY OF TERMS FOR PROPOSED FINANCING (1 May 2022) Albert Ventures I LP (Albert Ventures) proposes, subject to contract, due diligence, investment committee approval and the following terms and conditions to invest up to 2,000,000 in BIO Limited (the "Company") as part of a total equity investment round of up to 3,000,000 (the "Investment). Amount and form of investment: Investor Syndicate ALBERT LP 2,000,000 with the remaining 1,000,000 from additional 'syndicate investors' identified by Albert LP. Aggregate amount of financing: 3,000,000 in newly issued Series A Preferred Shares Pre-money valuation (fully diluted): 2,000,000 to include a 10% available stock option pool post investment for granting to new and existing management Post-money valuation Use of proceeds 5,000,000 Form of investment The funds raised by this round of investment shall be used for operational capital expenditures and general working capital purposes directed toward the launch of BIOs first product. The Investment will take place in three phases, the second phase being conditional upon certain key business milestones ('The Milestones') by the Company: Phase 1: On completion of the Investment ('Initial Completion'), the Investors will subscribe a total of 1,000,000 for new Preferred A shares in the Company. Phase 2: In the event the Company completes The Milestones described below within 12 months of Initial Completion the Investors will subscribe a further 1,000,000 for new Preferred A shares in the Company. Phase 3: In the event the Company completes The Additional Milestones described below within 24 months of Initial Completion the Investors will subscribe a further 1,000,000 for new Preferred A shares in the Company. Albert VENTURES (1) LP SUMMARY OF TERMS FOR PROPOSED FINANCING (1 May 2022) Albert Ventures I LP (Albert Ventures) proposes, subject to contract, due diligence, investment committee approval and the following terms and conditions to invest up to 2,000,000 in BIO Limited (the "Company") as part of a total equity investment round of up to 3,000,000 (the "Investment). Amount and form of investment: Investor Syndicate ALBERT LP 2,000,000 with the remaining 1,000,000 from additional 'syndicate investors' identified by Albert LP. Aggregate amount of financing: 3,000,000 in newly issued Series A Preferred Shares Pre-money valuation (fully diluted): 2,000,000 to include a 10% available stock option pool post investment for granting to new and existing management Post-money valuation Use of proceeds 5,000,000 Form of investment The funds raised by this round of investment shall be used for operational capital expenditures and general working capital purposes directed toward the launch of BIOs first product. The Investment will take place in three phases, the second phase being conditional upon certain key business milestones ('The Milestones') by the Company: Phase 1: On completion of the Investment ('Initial Completion'), the Investors will subscribe a total of 1,000,000 for new Preferred A shares in the Company. Phase 2: In the event the Company completes The Milestones described below within 12 months of Initial Completion the Investors will subscribe a further 1,000,000 for new Preferred A shares in the Company. Phase 3: In the event the Company completes The Additional Milestones described below within 24 months of Initial Completion the Investors will subscribe a further 1,000,000 for new Preferred A shares in the Company.