VOLITIONRX LTD Income Taxes Disclosure

Note 9 - Income Taxes

For the year ended December 31, 2025, all of the Company’s income tax expense relates to current foreign taxes. The Company did not record any income tax expense for the year ended December 31, 2024.

The Company has estimated net operating losses for the years ended December 31, 2025 and December 31, 2024, of $46.2 million and $37.5 million, respectively, available to offset taxable income in future years.

The significant components of deferred income taxes and assets as of December 31, 2025 and 2024, are as follows:

During the years ended December 31, 2025 and 2024, state and local income taxes in Arizona and Virginia comprise the majority of the domestic state and local income taxes, net of federal effect category.

During the years ended December 31, 2025 and 2024, the Company paid no income taxes to federal, state, or foreign jurisdictions.

The Company adopted ASU 2023-09 on a retrospective basis during the year ended December 31, 2025. Adoption did not impact the Company’s accounting policies related to disclosure; there was no effect on income tax expense, deferred tax balances, or cash flows. Comparative prior-year disclosures have been recast to conform to the ASU.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted into U.S. federal tax law. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the 2017 U.S. Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The effects of the legislation were reflected in the period of enactment. The legislation did not have a material impact on the Company’s effective tax rate for the year ended December 31, 2025.