Telix Pharmaceuticals Ltd — Capital/Financing Update 2020

Apr 2, 2020

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

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Telix completes acquisition of European radiopharmaceutical production facility

Melbourne (Australia) – 3[rd] April 2020. Telix Pharmaceuticals Limited (ASX: TLX, ‘Telix’, the ‘Company’) is pleased to announce it has now completed the acquisition of a licensed radiopharmaceutical production facility in Seneffe, Belgium (the ‘Site’) from German company Eckert & Ziegler Strahlen und Medizintechnik AG (‘EZAG’).

Telix has previously announced, in October 2019, that it had entered into a conditional agreement with EZAG to acquire the Site.[1] Telix has now completed the acquisition of the Site for a nominal sum (EUR €1) in addition to assuming the future decommissioning liability at the end of the operating lifetime of the Site, currently estimated to be up to €5.2M (A$9.0M).

Completion of the acquisition of the Site required approval from Belgium’s Federal Agency for Nuclear Control (FANC) for the transfer of the Site’s active radiation licence to Telix, as well as amendment of the radiation licence to enable production and R&D activities to commence using the isotopes represented in Telix’s product portfolio. These approvals from FANC have now been received.

Telix’s CEO Dr Chris Behrenbruch said, “This facility has one of the most extensive private sector medical isotope licences in Europe. This provides significant operational flexibility to Telix and the ability to deliver the Company’s production needs for its product portfolio in Europe for the long-term. The timing of this acquisition is significant, given Telix expects to launch its prostate cancer imaging product TLX591-CDx as well as its kidney cancer imaging agent TLX250-CDx in Europe over the next 18 months.”

The acquisition of the site will deliver a range of commercial benefits to Telix including:

• A Class IIA radiation licence, enabling the Company to manufacture a broad range of diagnostic and therapeutic radiopharmaceuticals in commercially useful quantities

• • Expansion of Telix’s existing R&D and product development footprint in Belgium

• Ownership of a fully licensed production site strategically located in the heart of western Europe with superb logistics and ready access to key commercial territories

• Leverage and access to key isotope supply in Belgium (IRE, SCK-CEN) and the region

• Future ability to produce a range of radio-isotopes ([177] Lu,[89] Zr) to protect and augment Telix’s core supply chain if required.

About Telix Pharmaceuticals Limited

Telix is a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products using Molecularly Targeted Radiation (MTR). Telix is headquartered in Melbourne with international operations in Belgium, Japan and the United States. Telix is developing a portfolio of clinical-stage oncology products that address significant unmet medical need in renal, prostate and brain cancer. Telix is listed on the Australian Securities Exchange (ASX: TLX). For more information visit www.telix.com.

1 ASX release 3rd October 2019

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Telix Corporate Contact

Telix Investor Relations

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

Dr David N. Cade Telix Pharmaceuticals Limited CBO and Head of Investor Relations Email: david.cade@telixpharma.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 technologies or products described in this document have received a marketing authorisation in any jurisdiction. This announcement has been authorised for release by Dr Christian Behrenbruch, Managing Director and Chief Executive Officer.

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