RECCE PHARMACEUTICALS LTD — Capital/Financing Update 2020

May 20, 2020

ASX Announcement

The Companies Officer ASX Limited Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000

Cleansing notice under section 708A of the Corporations Act

Recce Pharmaceuticals Ltd (ASX:RCE) ( Company ) issued 500,000 fully paid ordinary shares as detailed in the Appendix 2A released to the ASX on 21 May 2020.

The Company gives this notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) and states the following:

1. the abovementioned ordinary shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

2. as at the date of this notice, the Company has complied with: a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and b) section 674 of the Corporations Act;

3. as at the date of this notice, there is no excluded information for the purposes of sections 708A(7) and 708A(8) of the Corporations Act.

For more information, please contact the undersigned on (+61) 2 8072 1400.

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Alistair McKeough Company Secretary

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