• Key commercial contract, valued at up to A$100,000 + GST
• Demonstrates real-world commercial adoption of Pathkey's TrialKey platform
• Positions Pathkey for follow-on work and expanded engagement in future

Pathkey.AI Ltd (ASX: PKY), an Australian artificial intelligence technology company, has executed a Services Agreement with Imunexus Therapeutics Limited ('Imunexus'). This engagement represents an important step in Pathkey's commercialisation strategy, demonstrating the Company's ability to convert its platform capability into revenue-generating client engagements. The agreement is effective from 1 April 2026, and has a total potential value of up to A$100,000 plus GST. Of this amount, A$25,000 plus GST is payable upon execution of the agreement, with the remaining A$75,000 plus GST relating to further contracted services conditional on Imunexus completing future capital raisings. The agreement has an initial term of one year and may be terminated by either party on 14 days' written notice, or earlier in certain circumstances. This engagement provides tangible commercial validation of Pathkey's AI technology, with a third-party biotechnology company embedding the TrialKey platform into live clinical development and future capital raising preparation workflows. TrialKey is being applied across multiple high-value use cases, including assessing probability of success and development risk, optimising early-phase clinical trial design, and supporting investor communications and future capital raising positioning. The services are structured in two sequential phases, enabling Pathkey to establish initial engagement and expand its role over time, supporting longer-term customer relationships.

The agreement is expected to contribute to FY26 and FY27 revenue, with potential for repeatable engagements across similar clients.