RECCE PHARMACEUTICALS LTD — Capital/Financing Update 2025

Jun 9, 2025

ASX Announcement

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10 June 2025

Cleansing notice under section 708A(5)(e) of the Corporations Act

This notice is being given by Recce Pharmaceuticals Ltd ( ASX:RCE ) ( Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Company today issued 26,370,567 fully paid ordinary shares ( New Shares ) in accordance with the Company’s ASX announcement on 3 June 2025 regarding the placement of the shortfall from the pro-rata non-renounceable entitlement offer raising A$7.4 million (before costs) and as detailed in the Appendix 2A. For the purposes of section 708A(6) of the Corporations Act, the Company advises that:

• (a) the New Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708A(5)(e) of the Corporations Act;

• (c) as at the date of this notice, the Company has complied with:

  • i. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • ii. sections 674 and 674A of the Corporations Act; and

• (d) as at the date of this notice, the information that is ‘excluded information’ of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act relates to the Company’s efforts to secure additional financing through a secured loan facility. The Company is currently in negotiations with a US-based investment firm in relation to a financing facility of up to USD $20 million ($12.5 million committed and $7.5 million discretionary), which would be used to refinance existing debt and provide general working capital. Subject to the satisfaction of certain conditions including a future equity raise prior to tranche 2, the facility would be available for drawdown in tranches with an interest rate of 12.75% and a term of 36 months. During the term of the facility, the lender would have the right to invest up to USD $1 million in equity in any equity capital raise and the right to convert up to a maximum of USD $2 million of the principal amount outstanding into shares. In conjunction with the facility, the Company would issue the lender warrants equivalent to 8% of the loan to acquire shares, expiring 5 years from execution of the formal documents with a floating exercise price based on the lower of a VWAP test or the terms of another equity raise conducted within an agreed

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period. The facility remains subject to execution of definitive documents and satisfaction of customary conditions precedent.

This announcement has been approved for release by the Recce Pharmaceuticals Board.

For more information, please contact: Maggie Niewidok Company Secretary E: company.secretary@recce.com.au

About Recce Pharmaceuticals Ltd

Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) is developing a New Class of Synthetic Anti-Infectives designed to address the urgent global health problems of antibiotic-resistant superbugs.

Recce’s anti-infective pipeline includes three patented, broad-spectrum, synthetic polymer anti-infectives: RECCE[® ] 327 (R327) as an intravenous and topical therapy that is being developed for the treatment of serious and potentially life-threatening infections due to Gram-positive and Gram-negative bacteria, including their superbug forms; RECCE[® ] 435 (R435) as an orally administered therapy for bacterial infections; and RECCE[®] 529 (R529) for viral infections. Through their multi-layered mechanisms of action, Recce’s anti-infectives have the potential to overcome the processes utilised by bacteria and viruses to overcome resistance – a current challenge facing existing antibiotics.

The World Health Organization (WHO) added R327, R435, and R529 to its list of antibacterial products in clinical development for priority pathogens, recognising Recce’s efforts to combat antimicrobial resistance. The FDA granted R327 Qualified Infectious Disease Product designation under the Generating Antibiotic Initiatives Now (GAIN) Act, providing Fast Track Designation and 10 years of market exclusivity post approval. R327 is also included on The Pew Charitable Trusts’ Global New Antibiotics in Development Pipeline as the sole synthetic polymer and sepsis drug candidate in development.

Recce wholly owns its automated manufacturing, supporting current clinical trials. Recce’s anti-infective pipeline aims to address synergistic, unmet medical needs by leveraging its unique technologies.

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