Telix Pharmaceuticals Ltd — Capital/Financing Update 2019

Jul 16, 2019

==> picture [142 x 79] intentionally omitted <==

Telix Pharmaceuticals announces $40.0 million placement and a $5.0 million share purchase plan for existing shareholders

• Successful completion of an AUD $40.0 million private placement to professional and sophisticated investors.

• Share Purchase Plan for existing shareholders to raise up to AUD $5.0 million.

• Capital raised will be applied to Telix’s clinical activity and commercial product launch.

• The capital raise supports multiple important commercial and clinical milestones for the Company in 2019/20.

Melbourne (Australia) – 17[th] July 2019. Telix Pharmaceuticals Limited (ASX.TLX) (“Telix”, the “Company”), a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or “molecularly-targeted radiation” (“MTR”) has today announced the successful completion of a heavily oversubscribed private placement to professional and sophisticated investors.

The placement of 30.8 million new, fully paid ordinary shares (“New Shares”) at $1.30 per New Share to raise AUD $40.0 million before costs (the “Placement”) is being made to new and existing investors within the Company’s placement capacity under ASX Listing Rule 7.1. The Placement price represents a 9.0% discount to the 10-day volume weighted average price (“VWAP”) of shares on ASX as at close of trading on 12 July 2019.

The Company will offer existing shareholders the opportunity to participate via a Share Purchase Plan (“SPP”) to raise up to a further AUD $5.0 million. The SPP allows eligible shareholders (who are shareholders that are resident in Australia and New Zealand) that held Telix shares at 7pm on Tuesday, 16 July 2019 to purchase up to AUD $15,000 worth of New Shares in the Company without any brokerage or transaction costs. The SPP is offered at the same price as the Placement and an offer booklet will be sent to eligible shareholders shortly.

Capital raised via the Placement and SPP will be applied to the Company’s commercial and clinical programs including:

• Completion of European clinical activity for TLX591-CDx (prostate imaging) to support an EU marketing authorisation.

• Commercial-scale manufacturing and Biologics License Application (BLA) preparedness for TLX250-CDx (renal cancer imaging).

• Commencement of Phase III clinical activity in Australia for TLX591 (prostate therapy).

• Commercial launch of TLX591-CDx (branded as illumet[TM ] ) in the United States.

• Pipeline and indication expansion.

• Working capital.

Page 1

==> picture [142 x 79] intentionally omitted <==

Further information about the capital raise and the Company can be found in a presentation lodged with ASX on 17 July 2019 which is available on the ASX’s website (www.asx.com.au) and the Company’s website (www.telixpharma.com).

Managing Director and Chief Executive Dr Christian Behrenbruch, stated “We are pleased with the very positive investor response to this investment offering from both high-quality international funds and domestic fund managers. In addition to enabling the Company to continue to develop its clinical pipeline, our strengthened balance sheet puts Telix in the right financial position to engage with strategic partners for its various programs, as well as providing sufficient runway for the company through 2020 to support commercial launch of the prostate and renal cancer imaging programs.”

Near-term milestones for the Company’s pipeline include:

• Completion of enrolment TLX250-CDx Phase III renal cancer imaging study (Q4 ‘19 / early Q1 ‘20).

• Initiation of TLX591 Phase III prostate cancer therapy in Australia (late 2019) and preparedness for US patient recruitment (subject to FDA approval) in Q1 ‘20.

• Commercial launch of TLX591-CDx prostate cancer imaging US/EU (1H ‘20).

• Submission of TLX250-CDx marketing authorisation in the United States for renal cancer imaging (2H20).

• Completion of enrolment for TLX101 Phase II glioblastoma therapy (Q420).

Taylor Collison Limited acted as Lead Manager to the Placement. Goetzpartners Securities Limited acted as Co-Lead Manager and Wilsons Corporate Finance Limited acted as Co-Manager.

The Company’s shares will recommence trading on ASX on 17 July 2019.

About Telix Pharmaceuticals Limited

Telix Pharmaceuticals Limited (Telix) is a global biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or “molecularly-targeted radiation” (MTR). The company is headquartered in Melbourne with international operations in Liège (EU), Kyoto (JP) and Indianapolis (US). Telix is developing a portfolio of clinical-stage oncology products that address significant unmet medical need in renal, prostate and brain (glioblastoma) cancer. Telix is listed on the Australian Securities Exchange (ASX: TLX). For more information visit www.telixpharma.com.

---

Page 2

==> picture [142 x 79] intentionally omitted <==

Telix Corporate Contact Dr Christian Behrenbruch Telix Pharmaceuticals Limited CEO Email: chris@telixpharma.com

Telix Investor Relations Lisa Wilson In-Site Communications Tel: +1 212 452 2793 Email: lwilson@insitecony.com

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. None of the products referred to in this disclosure have obtained a marketing authorisation in the United States, EU, Australia or any other jurisdiction.

Page 3