IMUGENE LIMITED — Capital/Financing Update 2020

Sep 29, 2020

30 September 2020

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RE: IMUOA & IMUOB options exerciseable at $0.026 & $0.04

Dear IMU Option Share Holder,

We want to thank you for your continued support.

The recent IMU share price has been above the exercise price of the listed IMUOA & IMUOB options exerciseable at $0.026 and $0.04 per option. We want to remind you that the expiry date for the IMUOA options is on 30th of November, 2020, being the last date to exercise these options.

All eligible shareholders will receive in the mail an option conversion letter in due course. However if you want to convert all or part of your IMUOA and or IMUOB options now, please call our Share Registry Automic on 1300 288 664 and provide your name (that the options are listed under), address and your HIN number. You will then be sent your option conversion form containing details for electronic payment (EFT or BPay).

Please find attached the sample option conversion form for IMUOA and IMUOB options.

Sincerely,

Leslie Chong CEO/MD Imugene Limited

IMUGENE LIMITED Level 3, 62 Lygon Street, Carlton, VIC, 3053, AUSTRALIA

All Registry Communication to:

IMUGENE LIMITED | ACN 009 179 551

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GPO Box 5193, Sydney NSW 2001 1300 288 664 (within Australia) +61 2 9698 5414 (international)

corporate.actions@automicgroup.com.au www.automicgroup.com.au

[EntityRegistrationDetailsLine1Envelope] [EntityRegistrationDetailsLine2Envelope] [EntityRegistrationDetailsLine3Envelope] [EntityRegistrationDetailsLine4Envelope] [EntityRegistrationDetailsLine5Envelope] [EntityRegistrationDetailsLine6Envelope]

SRN/HIN: [HolderNumberMasked]

Security Code: IMUOA

Number of Options held: [IMUOAHolding]

Option Expiry Date: 30 November 2020

Exercise Price: $0.026

NOTICE OF EXERCISE OF OPTIONS

I/we hereby exercise the following number of options and make payment in Australian currency for the amount payable. Please allot me/us Ordinary Shares calculated on the basis of one Ordinary Share for every one Option which I/we exercise. I/We agree to accept such Shares subject to the Constitution of Imugene Limited. 1. Number of Options to be Exercised Total payment required @ $0.026 per Option exercised , , A$ , , . If the dollar amount paid results in a fraction of a share then the shares allotted will be rounded down. 2. Payment: You can pay either by BPAY or EFT Option A – BPAY Option B – Electronic Funds Transfer (EFT) Biller Code: 337006 The unique payment reference number which has been assigned to your Application is: IMUOA[HolderId] Ref No: [BPayCRN] Funds are to be deposited directly to following bank account: ® Registered to BPAY Pty Ltd ABN 69079137518 Account name: Automic Pty Ltd Account BSB: 036011 Account number: 607152 Contact your financial institution to make your payment from your Swift Code: WPACAU2S cheque or savings account. You should check the processing cut -off time for BPAY® transactions with your bank, credit union or building IMPORTANT: You must quote your unique reference number as your society to ensure your payment will be received by the Share Registry payment reference/ description when processing your EFT payment. Failure in time. to do so may result in your funds not being allocated to your application and Note: You do not need to return this form if you have made shares subsequently not issued. payment via BPAY®. Your BPAY® reference number will process Note: You do not need to return this form if you have made payment via your payment to your options exercise electronically. EFT. Your unique payment reference number will process your payment to your options exercise electronically.

I/we hereby exercise the following number of options and make payment in Australian currency for the amount payable. Please allot

me/us Ordinary Shares calculated on the basis of one Ordinary Share for every one Option which I/we exercise. I/We agree to accept

such Shares subject to the Constitution of Imugene Limited.

3. Contact details & Elect to be an e-Shareholder

As a valued shareholder in Imugene Limited, you can help minimise the costs of printing and mailing by electing to receive all shareholder communications electronically. This will ensure you receive all future important shareholder communications in a faster and more secure way. Please enter your details and return to our Share Registry by email to hello@automicgroup.com.au.

Telephone Number ( )

Contact Name (PLEASE PRINT)

Email Address

All Registry Communication to:

IMUGENE LIMITED | ACN 009 179 551

==> picture [281 x 56] intentionally omitted <==

==> picture [97 x 90] intentionally omitted <==

GPO Box 5193, Sydney NSW 2001 1300 288 664 (within Australia) +61 2 9698 5414 (international)

corporate.actions@automicgroup.com.au www.automicgroup.com.au

[EntityRegistrationDetailsLine1Envelope] [EntityRegistrationDetailsLine2Envelope] [EntityRegistrationDetailsLine3Envelope] [EntityRegistrationDetailsLine4Envelope] [EntityRegistrationDetailsLine5Envelope] [EntityRegistrationDetailsLine6Envelope]

SRN/HIN: [HolderNumberMasked]

Security Code: IMUOB

Number of Options held: [IMUOAHolding]

Option Expiry Date: 30 November 2021

Exercise Price: $0.04

NOTICE OF EXERCISE OF OPTIONS

I/we hereby exercise the following number of options and make payment in Australian currency for the amount payable. Please allot me/us Ordinary Shares calculated on the basis of one Ordinary Share for every one Option which I/we exercise. I/We agree to accept such Shares subject to the Constitution of Imugene Limited. 1. Number of Options to be Exercised Total payment required @ $0.04 per Option exercised , , A$ , , . If the dollar amount paid results in a fraction of a share then the shares allotted will be rounded down. 2. Payment: You can pay either by BPAY or EFT Option A – BPAY Option B – Electronic Funds Transfer (EFT) Biller Code: 337006 The unique payment reference number which has been assigned to your Application is: IMUOB[HolderId] Ref No: [BPayCRN] Funds are to be deposited directly to following bank account: ® Registered to BPAY Pty Ltd ABN 69079137518 Account name: Automic Pty Ltd Account BSB: 036011 Account number: 607152 Contact your financial institution to make your payment from your Swift Code: WPACAU2S cheque or savings account. You should check the processing cut -off time for BPAY® transactions with your bank, credit union or building IMPORTANT: You must quote your unique reference number as your society to ensure your payment will be received by the Share Registry payment reference/ description when processing your EFT payment. Failure in time. to do so may result in your funds not being allocated to your application and Note: You do not need to return this form if you have made shares subsequently not issued. payment via BPAY®. Your BPAY® reference number will process Note: You do not need to return this form if you have made payment via your payment to your options exercise electronically. EFT. Your unique payment reference number will process your payment to your options exercise electronically.

I/we hereby exercise the following number of options and make payment in Australian currency for the amount payable. Please allot

me/us Ordinary Shares calculated on the basis of one Ordinary Share for every one Option which I/we exercise. I/We agree to accept

such Shares subject to the Constitution of Imugene Limited.

3. Contact details & Elect to be an e-Shareholder

As a valued shareholder in Imugene Limited, you can help minimise the costs of printing and mailing by electing to receive all shareholder communications electronically. This will ensure you receive all future important shareholder communications in a faster and more secure way. Please enter your details and return to our Share Registry by email to hello@automicgroup.com.au.

Telephone Number ( )

Contact Name (PLEASE PRINT)

Email Address