IMMUTEP LIMITED — Capital/Financing Update 2021

Jul 4, 2021

Proposed issue of securities

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Announcement Summary

Entity name

IMMUTEP LIMITED

Announcement Type

New announcement

Date of this announcement

5/7/2021

The Proposed issue is:

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An offer of securities under a securities purchase plan

Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
IMM	ORDINARY FULLY PAID	9,615,384

+Record date

18/6/2021

Offer closing date

19/7/2021

+Issue date

23/7/2021

Refer to next page for full details of the announcement

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Proposed issue of securities

Part 1 - Entity and announcement details

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1.1 Name of +Entity

IMMUTEP LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type Registration Number ACN 009237889

1.3 ASX issuer code

IMM

1.4 The announcement is

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New announcement

1.5 Date of this announcement

5/7/2021

1.6 The Proposed issue is:

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An offer of +securities under a +securities purchase plan

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Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis? No

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Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

IMM : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

IMM : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 9,615,384

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? Yes

Is the minimum acceptance unit based or dollar based? Dollar based ($)

Please enter the minimum acceptance value

$ 2,500

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? Yes Is the maximum acceptance unit based or dollar based? Dollar based ($)

Please enter the maximum acceptance value

$ 30,000

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Describe all the applicable parcels available for this offer in number of securities or dollar value
Parcels of Shares having a dollar value of A$2,500, A$5,000, A$7,500, A$10,000, A$15,000, A$22,500
or A$30,000.
Offer price details
Has the offer price been determined?
Yes
In what currency will the offer What is the offer price per
be made? +security?
AUD - Australian Dollar AUD 0.52000
Oversubscription & Scale back details
Will a scale back be applied if the offer is over-subscribed?
Yes
Describe the scale back arrangements
The SPP will initially be capped at A$5 million. However, the Board reserves the right in its absolute
discretion to accept applications from Eligible Shareholders in excess of A$5 million or to scale back
applications if necessary. In the event of a scale back occurring, Shareholders may not receive the full
number of Shares applied for under the SPP and the difference in any application monies will be
refunded to you (without interest).
Will these +securities rank equally in all respects from their issue date with the existing issued
+securities in that class?
Yes
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Part 4C - Timetable 4C.1 Date of announcement of +security purchase plan 21/6/2021 4C.2 +Record date 18/6/2021 4C.3 Date on which offer documents will be made available to investors 25/6/2021 4C.4 Offer open date 28/6/2021 4C.5 Offer closing date 19/7/2021

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4C.7 +Issue date and last day for entity to announce results of +security purchase plan offer

23/7/2021

Part 4D - Listing Rule requirements

4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? Yes

Part 4E - Fees and expenses

4E.1 Will there be a lead manager or broker to the proposed offer? No 4E.2 Is the proposed offer to be underwritten? No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer No material fees incurred apart from Registry costs in processing SPP applications.

Part 4F - Further Information

4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Funds raised from SPP Shares will be used for further development and expansion of the Company's current and future product pipeline of LAG-3 candidates for the treatment of cancer and autoimmune diseases.

4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

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4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer

Only shareholders in Australia and New Zealand are eligible to participate. Shareholders in all other countries, including the United States are ineligible to participate in the SPP. Refer to SPP Terms and Conditions for details.

4F.3 URL on the entity's website where investors can download information about the proposed offer

https://www.asx.com.au/asxpdf/20210625/pdf/44xpr14c4bb7zf.pdf

4F.4 Any other information the entity wishes to provide about the proposed offer

The SPP will initially be capped at A$5 million assuming a price of A$0.52 per Share (being the Placement Price). However, the Board reserves the right in its absolute discretion to accept applications from Eligible Shareholders in excess of $5 million or to scale back applications if necessary.

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