PYC THERAPEUTICS LIMITED — Share Issue/Capital Change 2021

Nov 29, 2021

Announcement Summary

Entity name

PYC THERAPEUTICS LIMITED

Date of this announcement

Tuesday November 30, 2021

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
New class - codeto be confirmed	Unlisted options expiring 18 November 2031 at$0.18	1,500,000	18/11/2021
New class - codeto be confirmed	Unlisted options expiring 23 November 2024 at$0.17	1,500,000	23/11/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

PYC THERAPEUTICS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type ABN

Registration number 48098391961

1.3 ASX issuer code PYC

1.4 The announcement is

New announcement

1.5 Date of this announcement

30/11/2021

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

does not have an existing ASX security code ("new class")

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX

in an Appendix 3B

ASX +security code	+Security description
New class - code to be confirmed	Unlisted options expiring 18 November 2031 at $0.18
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
18/11/2021
Yes	Will all the +securities issued in this class rank equally in all respects from their issue date?
No	Were any of the +securities issued to +key management personnel (KMP) or an +associate?
listing rule 6.1?No	Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
issued.	Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being

Options Details

+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.18000000	18/11/2031

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

Ordinary fully paid shares

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Refer 2020 Notice of Annual General meeting for a summary of the terms and conditions of the Company's Long-term incentive plan

https://pyctx.com/wp-content/uploads/2021/01/6th-October-2020-Notice-of-Annual-General-MeetingProxy-Form.pdf Refer Appendix C: US Sub-plan

Any other information the entity wishes to provide about the +securities the subject of this notification

Options issued to a US employee under the US Sub-plan to the Company's Long-Term Incentive Plan

Issue details

Number of +securities 1,500,000

ASX +security code New class - code to be confirmed +Security description Unlisted options expiring 23 November 2024 at $0.17 +Security type Options ISIN code Date the +securities the subject of this notification were issued 23/11/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? No

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Refer Appendix B: Terms and Conditions

Options Details

+Security currency AUD - Australian Dollar Exercise price AUD 0.17000000 Expiry date 23/11/2024

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

Ordinary fully paid shares

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Refer 2020 Notice of Annual General meeting for a summary of the terms and conditions of the Company's Long-term incentive plan

https://pyctx.com/wp-content/uploads/2021/01/6th-October-2020-Notice-of-Annual-General-MeetingProxy-Form.pdf Refer Appendix C: US Sub-plan

Any other information the entity wishes to provide about the +securities the subject of this notification

Options issued to a US employee under the US Sub-plan to the Company's Long-term incentive plan

Issue details

Number of +securities

1,500,000

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise: (A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.) 4.1 Quoted +Securities (Total number of each +class of +securities quoted) ASX +security code and description Total number of +securities on issue

PYC : ORDINARY FULLY PAID 3,180,926,103

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

ASX +security code and description	Total number of+securities on issue
PYCAC : OPTION EXPIRING 28-FEB-2023 EX 6C	15,000,000
PYCAQ : OPTION EXPIRING 29-MAR-2031 EX $0.17	2,500,000
PYCAB : OPTION EXPIRING 28-FEB-2023 EX 6.3C	20,000,000
PYCAD : OPTION EXPIRING 30-NOV-2023 EX $0.15	32,000,000
PYCAN : OPTION EXPIRING 28-FEB-2031 EX $0.17	6,000,000
PYCAP : OPTION EXPIRING 23-MAR-2024 EX $0.21	3,000,000
PYCAO : OPTION EXPIRING 23-MAR-2031 EX $0.17	2,500,000
New class - code to be confirmed : Unlisted options expiring 18 November 2031 at $0.18	1,500,000
New class - code to be confirmed : Unlisted options expiring 23 November 2024 at $0.17	1,500,000

Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

13