PHARMX TECHNOLOGIES LIMITED — Regulatory Filings 2016

Feb 28, 2016

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Market Release

29 February 2016

Company Update

The Company refers to its requests for a trading halt on 23 February 2016 and voluntary suspension on 25 February 2016 pending an announcement in respect of historical financial matters.

In the course of preparing the half yearly accounts Corum reviewed its utilisation of prior year tax losses.

Due to this review, Corum has now recognised a one-off additional $1.4M tax expense in the half-year to December 2015. This arises from work that was originally performed during 2011. This related to the formation of the Corum consolidated tax group. Further detail can be found in note 3 of the half-year financial report.

The Company was not in a position to announce the extent of this matter until it was properly investigated.

Corum Group remains committed to achieving high levels of corporate governance. The Company has and is voluntarily engaging with the ATO in respect of the payment of the additional tax payable.

The Company confirms that it has sufficient funds to pay all outstanding tax and that this situation in no way impacts our ability to operate our businesses.

Corum remains focused and committed to providing our customers with the highest level of integrity and service.

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David Clarke Company Secretary

Corum Group Limited | ABN 25 000 091 305 Level 20, 347 Kent Street, Sydney NSW 2000 PO Box Q281, Queen Victoria Building NSW 1230 T 02 9289 4699 | F 02 9299 3276 | www.corumgroup.com.au