IMMUTEP LIMITED — Capital/Financing Update 2012

Nov 15, 2012

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New Issue Announcement, Application for Quotation of Additional Securities and Agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of Entity:

Prima BioMed Ltd (ASX: PRR)

ABN:

90 009 237 889

We (the entity) give ASX the following information.

Part 1 - All Issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of+securities issued or to be issued 2 Number of+securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the+securities (eg, if options, exercise price and expiry date; if partly paid+securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Unlisted Options (PRRAL)
	Exercise price of $0.185 on or before 1 August 2015

4 Do the[+] securities rank equally in all Yes on exercise of options respects from the date of allotment with an existing[+] class of quoted[+] securities? If the additional securities do not rank equally, please state:  the date from which they do  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment  the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration

5 Issue price or consideration Employees services 6 Purpose of the issue Issue options to employees under company’s (If issued as consideration for the Global Employee Share Option Plan acquisition of assets, clearly identify those assets)

7 Dates of entering[+] securities into uncertificated holdings or despatch of certificates

16[th] November 2012

8 Number and+class of all+securities quoted on ASX (_including_the securities in clause 2 if applicable)	**Number **	+Class
	1,066,063,388	Ordinary fully paid shares (PRR)

• See chapter 19 for defined terms.

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9 Number and+class of all+securities not quoted on ASX (including the securities in clause 2 if applicable)		Number	+Class– Options	+Class– Options	+Class– Options
		Amount	ExercisePrice	Expiration Date	ASXCode
		1,884,253	$0.2685	9 November 2014	PRRAS
		1,884,253	$0.2360	8 December 2014	PRRAU
		1,061,411	$0.2271	12 January 2015	PRRAY
		1,118,211	$0.2345	12 February 2015	PRRAW
		1,075,269	$0.2277	18 March 2015	PRRAZ
		500,000	$0.2500	6 May 2015	PRRAC
		1,055,011	$0.2351	19 May 2015	PRRAD
		32,500,000	$0.2000	6 December 2013	PRRAL
		2,000,000	$0.1000	6 December 2014	PRRAL
		500,000	$0.1000	26 August 2014	PRRAL
		740,741	$0.3390	1 February 2016	PRRAL
		100,000	$0.2790	3 November 2014	PRRAL
		100,000	$0.2329	3 January 2015	PRRAL
		2,800,000	$0.1850	1 August 2015	PRRAL
		47,319,149	Total

• 10 Dividend policy (in Unchanged the case of a trust, distribution policy) on the increased capital (interests)

• See chapter 19 for defined terms.

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Part 2 - Bonus Issue or Pro Rata Issue

11 Is security holder approval required? 12 Is the issue renounceable or non- renounceable? 13 Ratio in which the+securities will be offered 14 +Class of+securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has+security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of+security holders

• See chapter 19 for defined terms.

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25	If the issue is contingent on
	+security holders’ approval, the date
	of the meeting
26	Date entitlement and acceptance
	form and prospectus or Product
	Disclosure Statement will be sent to
	persons entitled
27	If the entity has issued options, and
	the terms entitle option holders to
	participate on exercise, the date on
	which notices will be sent to option
	holders
28	Date rights trading will begin
	(if applicable)
29	Date rights trading will end
	(if applicable)
30	How do+security holders sell their
	entitlements_in full_through a
	broker?
31	How do+security holders sell_part_
	of their entitlements through a
	broker and accept for the balance?
32	How do+security holders dispose
	of their entitlements (except by sale
	through a broker)?
33	+Despatch date

Part 3 - Quotation of Securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities ( tick one )

• (a)[Securities described in Part 1 ]

• (b)[All other securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

• See chapter 19 for defined terms.

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Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35[If the ][+][securities are ][+][equity securities, the names of the 20 largest holders of the ] additional[+] securities, and the number and percentage of additional[+] securities held by those holders 36[If the ] +securities setting out the number of holders in the categories[+][securities are ][+][equity securities, a distribution schedule of the additional ] 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37[A copy of any trust deed for the additional ][+][securities ]

Entities that have ticked box 34(b)

38 Number of securities for which+quotation is sought 39 Class of+securities for which quotation is sought 40 Do the+securities rank equally in all respects from the date of allotment with an existing +class of quoted+securities? If the additional securities do not rank equally, please state:  the date from which they do  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment  the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security) 42 Number and+class of all+securities quoted on ASX (_including_the securities in clause 38)
	**Number **	+Class

• See chapter 19 for defined terms.

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Quotation Agreement

• 1 +Qu o tation of o u r additiona l[+] securities i s in ASX’s absolute di s cretion. A S X may quo t e the[+] secur i ties on any c onditions it decides.

• 2 We warrant the f ollowing to ASX.

• The iss u e of the[+] se c urities to be quoted co m plies with t h e law and is not for an illeg a l purpose.

• There is no reason w hy those[+] s e curities sho u ld not be g r anted[+] quot a tion.  An offer of the[+] se c urities for s ale within 1 2 months a f ter their is s ue will not req u ire disclos u re under s e ction 707( 3 ) or sectio n 1012C(6) of the Corpor a tions Act.

Note: An entity may need to ob t ain appropriate warranties from subscribers for the securiities in order to be a ble to give this warrant y

• Section 724 or secti o n 1016E o f the Corpor a tions Act d o es not appl y to any applicat i ons received by us in r elation to a n y[+] securiti e s to be quo t ed and that no - one has an y right to r eturn any [+] securities t o be quote d under sections 737, 738 o r 1016F of the Corpor a tions Act a t the time t hat we request t hat the[+] sec u rities be quoted.

• We wa r rant that if confirmati o n is requir e d under se c tion 1017F of the Corpor a tions Act i n relation t o the[+] secur i ties to be q uoted, it h a s been provide d at the time that we req u est that the [+] securities b e quoted.

• If we a r e a trust, w e warrant t hat no per s on has the right to ret u rn the +securit i es to be qu o ted under s e ction 1019 B of the Cor p orations A c t at the time th a t we reques t that the[+] se c urities be q u oted.

• 3 We will indem n ify ASX t o the fullest extent per m itted by la w in respect of any clai m , action or expense arising from or c onnected with any brea c h of the wa r ranties in t h is agreeme n t.

• 4 We give ASX the inform a tion and d o cuments r e quired by t his form. If any info r mation or d ocument no t available n o w, will giv e it to ASX b efore[+] quot a tion of the [+] securities b e gins. We a cknowledge that ASX i s relying on t he informat i on and doc u ments. We warrant tha t they are (will be) true a n d complete .

Sign Here:

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Com p any Secret a ry Print Name: D e anne Mille r

Date: Friday, 16[th] N o vember 20 1 2

16.11.2012

• See chapter 1 9 for defined terms.

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