IMUGENE LIMITED — Capital/Financing Update 2016

Oct 20, 2016

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Imugene Share Placement raises $3.2 million

• $3.2m in firm placement commitments to sophisticated and professional investors at a price of $0.0075 (0.75 cents) per share (to be issued in two tranches)

• Strong demand (exceeding placement capacity) with institutions taking majority of placement

October 21, 2016: The Board of Imugene Limited (ASX: IMU), a clinical stage immunooncology company announced today that it has successfully raised $3.2m from sophisticated investors. The placement was well supported by existing investors and new sophisticated and institutional investors. The lead manager on the deal was WG Partners LP.

The first tranche placement is to be made under the Company’s 15% placement discretion and was priced at $0.0075 per share representing a 6.25% discount to the last close price on Wednesday 19[th] October. The second tranche placement is to be made under the Company’s 10% placement discretion (following anticipated approval for this additional capacity at the upcoming AGM) at the same price.

The funds will support Imugene’s soon to commence Phase 1b gastric cancer trial in Taiwan, Hong Kong and Thailand, in addition to general working capital.

Imugene’s Chief Operating Officer, Leslie Chong said “I am delighted that two highly regarded and prominent Funds have taken the majority of the placement; one of which will be the largest share holders of Imugene. We warmly welcome them and the other investors to Imugene’s register.”

“The level of demand speaks to investors’ genuine interest and support for Imugene’s technology and the company’s development.”

The soon to be initiated HER-Vaxx Phase 1b/2 study will be conducted in two parts. The initial Phase 1b study will enrol up to 18 patients to be treated with HER-Vaxx in combination with chemotherapy to interrogate three dose levels. This first stage will provide safety data, immunogenicity data (a measure of how many of the HER2 cancer fighting antibodies are produced), evaluate the booster schedule and determine the optimal recommended Phase 2 dose (RP2D) to take into the Phase 2 study. The larger open label Phase 2 study will recruit around 68 patients randomised into two arms of either HER-Vaxx plus standard-of-care or standard-of-care alone.

About Imugene

Imugene (ASX: IMU) is a clinical stage immuno-oncology company headquartered in Melbourne, Australia. Its lead product is HER-Vaxx, a B Cell peptide vaccine for the treatment of gastric cancer. The company is also developing mimotope-based immunotherapies against validated and new oncology targets.

HER-Vaxx is a cancer immunotherapy designed to treat tumours that over-express the HER-2/neu receptor, such as gastric, breast, ovarian, lung and pancreatic cancers. This unique immunotherapy,

IMUGENE LIMITED ACN 009 179 551 Phone +61 3 9824 5254 Fax +61 3 9822 7735 Website www.imugene.com

developed by leading scientists at the Medical University of Vienna in Austria, is a peptide vaccine constructed from several B cell epitopes of HER-2/neu. It has been shown in pre-clinical studies and in one Phase 1 study to stimulate a potent polyclonal antibody response to HER-2/neu, a well-known and validated cancer target. HER-Vaxx’s successful Phase 1 study was in patients with breast cancer and the next stage of development will be a Phase 1b/2 study in patients with gastric cancer initiating in 2016.

In January 2016 Imugene announced a new partnership with the Medical University of Vienna to discover and develop mimotope-based immunotherapies against validated and new oncology targets. This partnership has the potential to create game-changing B Cell peptide vaccines that would replace or augment conventional monoclonal antibody therapies.

For further information, please visit www.imugene.com. Sign up to follow @TeamImugene on Twitter at http://www.twitter.com/TeamImugene. To follow Imugene on Facebook visit www.facebook.com/imugene.

For further information please contact:

Imugene:

Leslie Chong, Chief Operating Officer Tel: +61 458 040 433 (Australia), leslie.chong[at]imugene.com

Paul Hopper, Executive Chairman Tel: +61 406 671 515 (Australia), receptogen[at]earthlink.net

IMUGENE LIMITED ACN 009 179 551 Phone +61 3 9824 5254 Fax +61 3 9822 7735 Website www.imugene.com

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