IMMUTEP LIMITED — AGM Information 2011

Nov 2, 2011

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Chairman’s Address for 2011 AGM

Welcome to the Prima BioMed Annual General Meeting for 2011. I am delighted to be here today to speak to you after my first full year as your company’s Chairman.

The previous 12 months has been one of continued growth and advancement, in both our clinical programs and also in the financial position of the Company.

And, for this I would like to acknowledge the outstanding work of my fellow board members, and the whole Prima BioMed team for their efforts.

Our focus remains on developing innovative cancer treatments, and in the past year we have made significant progress with our headline program, the CVac™ ovarian cancer vaccine.

The Company’s goal is to develop CVac™ as the world’s first commercially available therapy vaccine to treat ovarian cancer - to provide a new treatment option for ovarian cancer patients globally and deliver significant value for our shareholders.

Ovarian cancer is one of the toughest cancers to diagnose and treat, and for decades an effective maintenance therapy for sufferers of the disease has eluded medical researchers.

So, to be in a position to potentially provide a viable, new treatment option is truly exciting for the Company and our shareholders .

Over the past year, our focus has been on the late stage clinical trials for CVac™. During that period we have;

• Successfully developed a potency assay for the CVac™ vaccine

• Completed an agreement for the strategy and design of our major Phase III CANVAS trial, and

• Completed full enrolment, of 60 patients, for CVac™’s Phase IIb trial

We are now preparing to commence patient enrolment into the 800 patient CANVAS trial, and news on the ongoing progress of this trial will be provided through our ASX releases.

Another important milestone was the granting of marketing and distribution approval for CVac™ in Dubai, by Dubai Health Care City. We are currently finalising the details of this agreement, which will represent CVac[TM] ’s first commercial approval anywhere in the world.

I would now like to touch on our plans to list on the NASDAQ market in the US.

Most of you would be aware that we announced plans to list on the NASDAQ last September. The aim of the listing is to provide a listed structure that best meets the needs of both our Australian and US investors.

The process has taken longer than we anticipated, but we remain committed to the listing and hope to be in a position to provide further details and confirm a listing date soon.

Financially, the Company is in an extremely sound position. Our highly successful capital raising, earlier this year, has ensured that we are well funded for the forecast costs of the late stage clinical programs for CVac[TM] .

Given the prevailing uncertainty in financial markets, the success of the Company’s capital raising efforts are to be commended, and I would like to thank all shareholders who supported these efforts.

Finally, I would like to thank all our loyal shareholders for their continued support and I look forward to another year of exciting growth and development for Prima BioMed.

Thank you

Lucy Turnbull Chairman