Telix Pharmaceuticals Ltd — Capital/Financing Update 2019

Dec 15, 2019

Telix Pharmaceuticals Limited ACN 616 620 369 Suite 401, 55 Flemington Road North Melbourne Victoria, 3051 Australia

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Telix Pharmaceuticals and ATONCO Partner for Bladder Cancer

Melbourne (Australia) and Nantes (France) – 16[th] December 2019 . Telix Pharmaceuticals Limited (ASX: TLX) and French company ATONCO S.A.S today announce that they have entered into a Licence and Development Agreement (“Agreement”) that will enable ATONCO to investigate the use of Telix’s Molecularly Targeted Radiation (MTR) intellectual property for the treatment of non-muscle invasive bladder cancer that is resistant to standard therapies.

Under the Agreement, ATONCO will receive a licence to select components of Telix’s antibody portfolio for use with the alpha-emitting radioisotope astatine-211 ([211] At) for the purpose of treating bladder cancer that is no longer responsive to standard therapies. Astatine emits alpha particles with a favourable emission profile that is well suited to bladder cancer as it delivers highly localized anti-tumour radiation with minimal impact on surrounding tissues.

Under the Agreement, Telix is eligible to receive development milestone payments of approximately AUD 30M (EUR 18M) in addition to royalties upon successful commercialisation. Telix retains a right to re-acquire the program with successful clinical data.

Telix CEO Dr. Christian Behrenbruch said, “This collaboration with ATONCO represents a new stage for Telix, being the first time that we have out-licenced our intellectual property to a third party. While we maintain a disciplined focus on our prostate, kidney and brain cancer programs, this collaboration demonstrates the attractiveness of our IP to other companies and enables our assets to be developed for new cancer indications beyond Telix’s core areas of focus, while still giving us the option to re-annex the program if promising clinical data warrants it.”

ATONCO CEO Prof. Jean-François Chatal stated that “I am very pleased to initiate this collaboration with Telix Pharmaceuticals. ATONCO is motived by the clinical potential of alphaimmunotherapy for refractory non-muscle invasive bladder cancer. This is truly an unmet medical that may be able to be clinically and commercially addressed by the characteristics of antibody-targeted astatine-211”.

In 2018 bladder cancer was the fifth most common cancer in the United States, with an estimated 82,501 new cases diagnosed and 17,755 deaths resulting from bladder cancer[(1)] .

About Telix Pharmaceuticals Limited

Telix Pharmaceuticals Limited is a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products using Molecularly Targeted Radiation (MTR). The company is headquartered in Melbourne with international operations in Brussels (EU), Kyoto (JP) and Indianapolis (US). Telix is developing a portfolio of clinical-stage oncology products that address significant unmet medical need in prostate, kidney and brain (glioblastoma) cancer. Telix is listed on the Australian Securities Exchange (ASX: TLX). For more information visit www.telixpharma.com.

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About ATONCO

ATONCO is a privately held French company developing Molecularly Targeted Radiation products for oncology applications. Originating from the world-class radiochemistry cluster that includes CHU Nantes and the ARRONAX cyclotron facility, ATONCO and their academic collaborators is committed to the clinical use of alpha emitting radionuclides, particularly astatine-211 ([211] At).

Telix Corporate Contact Telix Investor Relations Dr Christian Behrenbruch[(2)] Dr David Cade Telix Pharmaceuticals Limited Telix Pharmaceuticals Limited Chief Executive Officer Chief Business Officer Email: chris@telixpharma.com Email: david.cade@telixpharma.com

• (1) Reference: WHO International Agency for Research on Cancer.

• (2) This announcement has been authorised for release by Dr Christian Behrenbruch, Managing Director and Chief Executive Officer.

Important Information

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933 (the “US Securities Act”), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold within the United States, unless the securities have been registered under the US Securities Act or an exemption from the registration requirements of the US Securities Act is available.

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