Immuron Ltd — Capital/Financing Update 2017

May 31, 2017

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----- Start of picture text ----- ASX ANNOUNCEMENT: June 1, 2017----- End of picture text -----

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----- Start of picture text ----- Interim Analysis Results----- End of picture text -----

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----- Start of picture text ----- •• Current NASDAQ Pricing offer not acceptable for shareholders• Brokers advise pricing unattractive due to pending interim analysis inflection----- End of picture text -----

ABN: 80 063 114 045

Suite 1, 1233 High Street, Armadale, Victoria AUSTRALIA 3143 www.immuron.com I Phone: + 61 (0)3 9824 5254 I Facsimile: + 61 (0)3 9822 7735

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NASDAQ on Hold Pending NASH Interim Analysis Results

Melbourne, Australia, June 1, 2017: Australian biopharmaceutical Company, Immuron Limited (ASX: IMC), today announces that the Company has decided to place its NASDAQ listing efforts on hold for the time being pending release of the interim analysis results of the Company’s Phase II NASH Clinical Trial anticipated to be released by the first week of July 2017.

Immuron Chairman Dr Roger Aston commented;

“The current pricing being offered by potential investors for our NASDAQ listing was just not acceptable to the Board and would have meant a heavy discount for all existing shareholders which the Board was not willing to accept. Our US brokers have advised us that the primary reason for the low pricing offers was due to the fact we’re so close to a major inflection point with the pending release of our NASH clinical trial interim analysis.

We have made a significant time and cost investment in the NASDAQ process to get to this point, and we hope to be able to progress this through to a NASDAQ listing following the release of the NASH interim analysis by the end of the first week of July 2017."

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COMPANY CONTACT: IMMURON INVESTOR RELATIONS: Thomas Liquard Peter Taylor Chief Executive Officer NWR Communications Ph: +61 (0)3 9824 5254 Ph: +61 (0)4 1203 6231 thomasliquard@immuron.com peter@nwrcommunications.com.au

ABOUT IMMURON:

Immuron Ltd (ASX: IMC) is a biopharmaceutical company focused on developing and commercialising oral immunotherapeutics for the treatment of many gut mediated diseases. Immuron has a unique and safe technology platform that enables a shorter development therapeutic cycle. The Company currently markets and sells Travelan® for the prevention of travellers’ diarrhea whilst its lead product candidate IMM-124E is in Phase 2 clinical trials for NASH and ASH. These products together with the Company’s other preclinical immunotherapy pipeline products targeting immune-related diseases currently under development, will meet a large unmet need in the market. For more information visit: http://www.immuron.com

FORWARD-LOOKING STATEMENTS:

Certain statements made in this release are forward-looking statements and are based on Immuron’s current expectations, estimates and projections. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions are intended to identify forward-looking statements. Although Immuron believes the forward-looking statements are based on reasonable assumptions, they are subject to certain risks and uncertainties, some of which are beyond Immuron’s control, including those risks or uncertainties inherent in the process of both developing and commercialising technology. As a result, actual results could materially differ from those expressed or forecasted in the forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Immuron

ABN: 80 063 114 045

Suite 1, 1233 High Street, Armadale, Victoria AUSTRALIA 3143 www.immuron.com I Phone: + 61 (0)3 9824 5254 I Facsimile: + 61 (0)3 9822 7735

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will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.

ABN: 80 063 114 045

Suite 1, 1233 High Street, Armadale, Victoria AUSTRALIA 3143 www.immuron.com I Phone: + 61 (0)3 9824 5254 I Facsimile: + 61 (0)3 9822 7735