ACRUX LIMITED — Capital/Financing Update 2020

Dec 23, 2020

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ASX/Media Release

24 December 2020

Cleansing Notice

Melbourne, Australia; 24 December 2020: Acrux Limited (ASX:ACR, “ Acrux ” or the “ Company ”) has today issued 42,164,324 fully paid ordinary shares in the Company ( Placement Shares ) at an issue price of $0.157 per share to unrelated qualified, institutional, sophisticated and professional investors under the first tranche of the institutional placement announced on 21 December 2020.

As required by section 708A(6) of the Corporations Act, the Company states that:

1. The Placement Shares were issued without disclosure to investors under Part 6D.2, in reliance on section 708A(5) of the Corporations Act.

2. This notice is being given under section 708A(5)(e) of the Corporations Act.

• The Company, as at the date of this notice, has complied with:

• (a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• (b) section 674 of the Corporations Act.

1. As at the date of this notice, there is no excluded information within the meaning of sections 708A(7) and (8) of the Corporations Act which is required to be disclosed by the Company.

Yours faithfully

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On behalf of the Board of Directors Deborah Ambrosini Company Secretary

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For more information, please contact:

General enquiries

Michael Kotsanis

Acrux Limited CEO & Managing Director

P: + 61 3 8379 0100

• E: michael.kotsanis@acrux.com.au

About Acrux

Acrux (ASX: ACR) is a pharmaceutical company dedicated to developing and commercialising topical pharmaceuticals. Incorporated in 1998 and using in house facilities and capabilities, Acrux has successfully developed and commercialised through licensees a number of topically applied pharmaceutical products in the US and Europe. Acrux is developing of a range of generic products for the US market by leveraging its on-site laboratories, GMP manufacturing suite, clinical and commercial experience to bring affordable products to market. Acrux encourages collaboration and is well positioned to discuss partnering and product development.

For further information on Acrux, visit www.acrux.com.au