NOXOPHARM LIMITED — Capital/Financing Update 2017

May 1, 2017

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Date 2 May 2017 Sydney, Australia

ASX: NOX

MARKET GUIDANCE FOR NEXT SIX MONTHS

Noxopharm Limited

ABN 50 608 966 123

Registered Office:

Suite 1 Level 6 50 Queen St Melbourne VIC 3000 Australia

Operations Office: Suite 3 Level 4 828 Pacific Highway Gordon NSW 2072 Australia

Board of Directors Mr Peter Marks Chairman Non-Executive Director

Dr Graham Kelly Chief Executive Officer Managing Director

Dr Ian Dixon Non-Executive Director

• Patients currently receiving NOX66 and chemotherapy

• Six additional clinical trials to start within next 6 months

• Program of planned release in 2017 of data as it becomes available.

Sydney, 2 May 2017: Noxopharm today is pleased to release guidance for the market of anticipated news flow for the next 6 months for its NOX66 clinical trial program. This follows on from the recent release of the Appendix 4C review of the March quarter.

Noxopharm believes that its front-line drug candidate, NOX66, a first-in-class sensitizer of chemotherapy and radiotherapy, has the potential to bring fundamental change to the treatment of many forms of cancer. The Company has embarked on a comprehensive clinical trial program designed to test this belief and to provide clear evidence either way within the next 6 months.

Apart from testing safety as a standard outcome, the clinical trials primarily are looking at the ability of NOX66 to provide meaningful responses (tumour shrinkage) to chemotherapy or radiotherapy or both in patients with late-stage cancers who have no remaining standard treatment options and whose cancers would not normally be expected to respond to therapy.

Noxopharm will be initiating a total of 7 proof-of-principle clinical trials during calendar 2017 across a range of clinical indications in a clinical program designed to maximize its ability to identify the best treatment combination.

The entire 7 trial program is designed to run through until approximately 3Q-2018, with trials finishing at various times before then. The first of these studies has commenced, with patients at various stages of Phase 1a and Phase 1b arms; a further 3 trials are expected to commence by mid-2017, with the remaining 3 trials shortly thereafter.

Importantly, the studies have built-in key review points, allowing the Company to report on progress based on data received to that point and without waiting for a trial to conclude.

The Company proposes to present the early data received at those points at clinical

conferences commencing in September 2017.

The Company also will be presenting progress updates to the market on the clinical program at the following mid-year briefings (open to the public):

• Melbourne Tuesday May 30

• Sydney Friday June 2

• Gold Coast Tuesday June 6.

Presentations will be made by Noxopharm CEO, Graham Kelly, and Noxopharm Director Clinical Development and Clinical Affairs, Ian Minns. Details available at www.noxopharm.com

About NOX66

NOX66 is an innovative dosage formulation of the experimental anti-cancer drug, idronoxil, developed specifically to preserve the anti-cancer activity of idronoxil in the body and to enhance its drug-like behaviour.

Idronoxil is a kinase inhibitor that works by inhibiting a range of enzymes including sphingosine kinase and PI3 kinase that regulate cell pro-survival mechanisms and which are over-expressed in cancer cells, as well as inhibiting external NADH oxidase Type 2 (ENOX 2) which is responsible for maintaining the transmembrane electron potential (TMEP) in the plasma membrane of cancer cells and whose expression is limited to cancer cells. Inhibition of these enzymes results in disruption of key downstream pro-survival mechanisms including resistance mechanisms, sensitizing the cancer cell to the cytotoxic effects of chemotherapy drugs and radiotherapy.

About Noxopharm

Noxopharm is an Australian drug development company with offices in Sydney, Melbourne and Hong Kong. The Company has a primary focus on the development of drugs to address the problem of drug-resistance in cancer cells, the major hurdle facing improved survival prospects for cancer patients. NOX66 is the first pipeline product, with later generation drug candidates under development. The Company also has initiated a pipeline of non-oncology drugs.

INVESTOR AND MEDIA ENQUIRIES: Prue Kelly

E: info@noxopharm.com T: + 61 2 9144 2223

Forward Looking Statements

This announcement may contain forward-looking statements. You can identify these statements by the fact they use words such as “aim”, “anticipate”, “assume”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “plan”, “should”, “target”, “will” or “would” or the negative of such terms or other similar expressions. Forward-looking statements are based on estimates, projections and assumptions made by Noxopharm about circumstances and events that have not yet taken place. Although Noxopharm believes the forward-looking statements to be reasonable, they are not certain. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond the Company’s control that could cause the actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statement. No representation, warranty or assurance (express or implied) is given or made by Noxopharm that the forward-looking statements contained in this announcement are accurate and undue reliance should not be placed upon such statements.