IMUGENE LIMITED — Capital/Financing Update 2021

Oct 24, 2021

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ASX Announcement

Letter to IMUOB Optionholders

Sydney, Australia, 25 October 2021 : Imugene Limited (ASX: IMU or the Company ), a clinical stage immuno-oncology company advises that the attached notice of expiry of IMUOB options letter was sent to all holders of IMUOB listed options (Options) which are exercisable at $0.04 each on or before 5:00 pm AEDT on Tuesday, 30 November 2021 (Expiry Date).

Official quotation of the Options will cease at close of trading on 24 November 2021, being four business days before the Expiry Date.

Holders of the Options can exercise all or part of their Options prior to the Expiry Date. Please find enclosed the sample “notice of exercise of options” for further instructions.

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About Imugene (ASX:IMU)

Imugene is a clinical stage immuno-oncology company developing a range of new and novel immunotherapies that seek to activate the immune system of cancer patients to treat and eradicate tumors. Our unique platform technologies seek to harness the body’s immune system against tumours, potentially achieving a similar or greater effect than synthetically manufactured monoclonal antibody and other immunotherapies. Our product pipeline includes multiple immunotherapy B-cell vaccine candidates and an oncolytic virotherapy (CF33) aimed at treating a variety of cancers in combination with standard of care drugs and emerging immunotherapies. We are supported by a leading team of international cancer experts with extensive experience in developing new cancer therapies with many approved for sale and marketing for global markets.

Our vision is to help transform and improve the treatment of cancer and the lives of the millions of patients who need effective treatments. This vision is backed by a growing body of clinical evidence and peer-reviewed research. Imugene is well funded and resourced, to deliver on its commercial and clinical milestones. Together with leading specialists and medical professionals, we believe Imugene’s immunooncology therapies will become foundation treatments for cancer. Our goal is to ensure that Imugene and its shareholders are at the forefront of this rapidly growing global market.

Release authorised by the Managing Director and Chief Executive Officer

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

IMUGENE LIMITED

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25 October 2021

Dear Option Holder,

Notice of Expiry of IMUOB Options

We want to thank you for your continued support.

The 30 November 2021 expiry date for IMUOB listed options is approaching and the Company would like to remind option holders that the IMUOB options NOT exercised by 30 November 2021 will automatically lapse.

Please find below information required to be provided to you in accordance with the ASX Listing Rules.

Please find below information required to be provided to	you in accordance with the ASX Listing Rules.
Number of shares to be issued on exercise of options	One fully paid ordinary share (ASX: IMU) per option
	that is exercised
Exercise price	$0.04 per option
Due date for payment	30 November 2021
Consequence of non-payment	Options will lapse
Date quotation of IMUOB on ASX will end	24 November 2021 (at end of trade)
Latest market price for IMU	$0.455 (22 October 2021)
3 Month IMU low price	$0.278 (5 August 2021)
3 Month IMU high price	$0.515 (24 September 2021)
Underwriting	The IMUOB options are not underwritten.

If you wish to exercise your options, you may do so in whole or in part.

Your enclosed option exercise form includes both your personalised BPAY and Electronic Funds Transfer (EFT) payment details.

The total exercise price for the options which you chose to exercise (if any) can be paid by BPAY or EFT, and the completed option exercise form (where applicable if opting NOT to exercise in full) can be returned to our Share Registry by email to corporate.actions@automicgroup.com.au.

For further instructions please see enclosed option exercise form.

If the options exercise form (where applicable if opting NOT to exercise in full), together with cleared funds, is not received by our share registry on or before the expiry date (Tuesday, 30 November 2021), then your IMUOB options will expire with no value and no further entitlement will exist.

If you have any queries concerning this Notice or your option holding, please contact Automic on +61 (2) 8072 1400.

Yours faithfully

Leslie Chong CEO/MD Imugene Limited

IMUGENE LIMITED ACN 009 179 551

2

All Registry Communication to:

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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

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SRN/HIN: [HolderNumberMasked]

Security Code: IMUOB

Number of Options held: [IMUOBHolding] 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: 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: Account number: 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

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.

Note: You do not need to return this form if you have made payment via EFT. Your unique payment reference number will process your payment to your options exercise electronically.

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.

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