RECCE PHARMACEUTICALS LTD — Earnings Release 2022

Aug 30, 2022

RECCE PHARMACEUTICALS LTD ABN 73 124 849 065

Appendix 4E

Preliminary Final Report for the financial year ended 30 June 2022

Current Reporting Period: 30 June 2022

Previous Reporting Period: 30 June 2021

Results for Announcement to the Market

	12 months to30 June 2022$	12 months to30 June 2021$	% Change
Revenue from ordinary activities	-	-	0%
Loss from ordinary activities after taxattributable to members	(10,986,277)	(13,513,366)	-19%
Net loss for the period attributable to members	(10,986,277)	(13,513,366)	-19%

Brief Explanation of Results

Operational Report

During the reporting period, significant advances were made in support of the development of the Company's synthetic anti-infective programe. Some of the highlights for the year were as follows:

• Cash receipt of A$3,084,955 Research and Development Tax Incentive rebate from the Australian Tax Office for the year ending 30 June 2021.
• First international cash receipt of A$176,870 from the Canadian Government as part of its Scientific Research & Experimental Development (SR&ED) Tax Incentive program.

Clinical progress

• Clinical trial registration for its lead compound RECCE® 327 in the Australian New Zealand Clinical Trial Registry (ANZCTR) for its Phase I Intravenous Study in Humans under the Trial ID ACTRN12621001313820p.
• Announced positive data from its Phase I intravenous clinical trial of RECCE® 327 across six cohorts (50mg – 4,000mg) indicating a good safety and tolerability profile among healthy male subjects.

Appendix 4E

Preliminary Final Report for the financial year ended 30 June 2022

Brief Explanation of Results (Continued)

Clinical progress (Continued)

• The Company announced an update on its Phase I/ll clinical trial. RECCE® 327 demonstrated broad spectrum antibiotic activity on bacterial infections in burn wounds with visible infection reduction less than 24 hours on all patients to date.
• Expansion of wholly owned patent estate - Patent Family 3 (Anti-Virus Agent and Method for Treatment of Viral Infections) in the United States, China and Hong Kong.

Financial Report

The operating loss has decreased to $10,986,277 (2021: loss of $13,513,366) as a result of reduced share based payment costs. The annual loss was after a R&D tax incentive of $3,084,955 (2021: $1,566,031).

The loss per share has decreased during the year to 6.31 cents (2021: 8.70 cents).

The Group's focus is on progressing RECCE® 327 into human clinical trials.

Dividends

	Amount perSecurity	PercentageFranked
Final Dividend	Nil	N/A
Interim Dividend	Nil	N/A
Date the Dividend is Payable:	N/A	N/A
Record Date for determining entitlements to the Dividends:	N/A	N/A

The Company did not declare a dividend during the financial year and has not declared a dividend since the end of the financial year.

Appendix 4E

Preliminary Final Report for the financial year ended 30 June 2022

Brief Explanation of Results (Continued)

Net Tangible Assets per Security

As at 30 June 2022 (cents)	5.66
As at 30 June 2021 (cents)	11.80

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