MISSISSAUGA, ON — February 24, 2026 — Leads & Copy —
Microbix Biosystems Inc. (TSX:MBX)(OTCQX:MBXBF) (Microbix®), a life sciences innovator, manufacturer, and exporter, has announced the issuance of stock options under its shareholder-approved stock option plan (the “Stock Option Plan”). The move is part of its compensation programs aimed at incentivizing and retaining its board of directors, executives, and managers.
The company’s Board of Directors, in consultation with management, has approved the issuance of 2,600,000 options in accordance with the terms of the Stock Option Plan. The options are exercisable at a price of $0.23 per share, determined by the closing price of the TSX on February 20, 2026. Each option will vest and be exercisable after three years and have a total life of five years. The stock option grants are part of the total remuneration package for the recipients and are subject to TSX approval.
Microbix management believes that stock options are an important tool to incentivize and retain senior personnel, particularly for smaller, publicly-listed companies. In February 2019, Microbix announced its intention to broadly use its stock option plan once per year – following the issuance of its Q1 results.
The options now issued are being allocated across 37 individuals that comprise the more senior tiers of Microbix’s approximately 120 employees, inclusive of its six independent directors. The quarterly expense incurred as a result of this option award is estimated to be $24,000, and will represent approximately 2% of total company compensation costs. The potentially dilutive impact of this option issuance may be up to 2% of the issued and outstanding shares of Microbix, largely or entirely offset by normal-course issuer bid (“NCIB”) share repurchases that have totaled approximately 600,000 shares since the initiation of the most recent NCIB in December 2025.
Details of the Stock Option Plan are available on Microbix’s website (https://microbix.com), via SEDAR+ (www.sedarplus.ca), and are provided as an appendix to the current Management Information Circular. The Stock Option Plan is a “rolling” plan that permits issuance of options representing up to 10% of Microbix’s issued and outstanding common shares. Prior to the current issuance, a total of 11,230,000 options were issued and are outstanding, with an average exercise price of $0.46 and average remaining life of 2.63 years. Following the current issuance, a total of 13,830,000 options will be outstanding. The plan is administered under the supervision of the Board of Microbix or the human resources, compensation and governance committee of the Board.
Microbix Biosystems Inc. creates proprietary biological products for human health, with over 120 skilled employees and revenues of C$ 18.6 million in its latest fiscal year (2025). It makes a wide range of critical ingredients and devices for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) and reference materials (QUANTDx™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Its antigens drive the antibody tests of approximately 100 diagnostics makers, while QAPs or QUANTDx are sold to clinical lab accreditation organizations, diagnostics companies, and clinical labs. Microbix QAPs are now available in over 30 countries, supported by a network of international distributors. Microbix is ISO 9001 & 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides IVDR-compliant CE marked products.
Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots, and reagents or medial to support diagnostic testing (e.g., its DxTM™ for patient-sample collection). Microbix is traded on the TSX and OTCQX, and headquartered in Mississauga, Ontario, Canada.
Source: Microbix Biosystems Inc.
