Acquisition of Assets from Siemens On September 18, 2019 we entered into certain definitive agreements with Siemens modifying our commercial relationship relating to coagulation products. As part of this arrangement, we agreed on a total consideration of US$13,000,000 of which US$11,000,000 was paid on September 23, 2019. The consideration paid relates primarily to the settlement of the prepaid milestones and acquisition of intangible assets. The transaction did not involve any liabilities being assumed and we have allocated the cost of the assets on the basis of their relative fair values. (a) Acquisition related costs These were nil. Legal expense incurred during the period is mainly relating to the settlement of the dispute between the Company and Siemens rather than asset acquisition and as such have been expensed. (b) Contingent consideration Pursuant to the Siemens Acquisition, the Company has agreed to pay US$1,500,000 to Siemens within five days of Siemens achieving a pre-defined milestone. The Company has the discretion of advising Siemens when the deadline by which the milestone is to be achieved, and from the date notification is sent by the Company, Siemens has 90 days to fulfil this milestone. Once the milestone is achieved, it will enable UBI to use Siemens proprietary reagent which will allow UBI to access markets in certain jurisdictions. A further US$500,000 will be payable by January 1, 2026 if an intermediate product of the Siemens proprietary reagent is supplied by Siemens and if UBI chooses to use this intermediate product. (c) Identifiable assets acquired Total identifiable assets acquired at the acquisition date are as follows: A$ Intangible assets - distribution rights 1 12,013,658 Inventory 368,840 Total identifiable assets acquired 12,382,498 Deferred income tax liability on intangible assets 1 4,358,338 16,740,836 Less: Deferred income tax liability on intangible assets 4,358,338 Contingent consideration 2,213,042 Consideration paid in September 2019 10,169,456 1. Total intangible assets of A$16,371,996 recognized at inception in the balance sheet includes the effect of the deferred tax. (d) Measurement of fair values The fair value of the distribution rights acquired has been based on the amount paid. Inventory has been valued at net realizable value.