ACRUX LIMITED — Capital/Financing Update 2020

Oct 26, 2020

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ASX/Media Release

27 October 2020

Receipt of R&D Tax Incentive Rebate – Acrux Commercial Pty Ltd

Melbourne, Australia; 27 October 2020: Acrux Limited (ASX:ACR, “ Acrux ” or the “ Company ”) is pleased to announce that the Company’s 100% owned investee company Acrux Commercial Pty Ltd has received its R&D Tax Incentive Rebate from the Australian Taxation Office of $521,374 for the 2020 financial year.

As announced 15 October 2020, an amount of $1,806,428 was received by the Company’s 100% owned subsidiary Acrux Pharma Pty Ltd. The total rebate amount of $2,327,802 (including interest) for the 2019/2020 financial year has now been received.

The R&D Tax Incentive is an Australian Government program under which companies receive cash refunds for 43.5% of eligible expenditure on research and development.

Authorised by the Board of Acrux Limited.

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