Telix Pharmaceuticals Ltd — Capital/Financing Update 2020

Mar 15, 2020

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

==> picture [147 x 81] intentionally omitted <==

Telix Pharmaceuticals and partners receive $500K research grant from Government funded Innovative Manufacturing CRC to advance local manufacturing of novel cancer drugs

Melbourne (Australia) – 16[th] March 2020. Telix Pharmaceuticals Limited (ASX: TLX, ‘Telix’, the ‘Company’) is pleased to announce it is a co-recipient of a $500,000 research grant from the Government funded Innovative Manufacturing Cooperative Research Centre (IMCRC) to fund R&D aimed at advancing Australian manufacturing capabilities for molecularly targeted radiation (MTR) drugs for prostate, kidney and neuroendocrine cancers.

The research grant has been awarded to a group of Melbourne, Victoria based organisations brought together by the IMCRC, comprising Telix, Cyclotek, GenesisCare, iPHASE Technologies and the School of Chemistry, Bio21 Institute, University of Melbourne.

The R&D made possible by the research grant will enable the development of highly sophisticated new manufacturing processes for a series of MTR drugs intended for the imaging and treatment of prostate, kidney and neuroendocrine cancers, using the radioisotopes zirconium-89 ([89] Zr) and lutetium-177 ([177] Lu). The grant will support the translation of these new products into the clinic.

Telix’s Director of R&D, Dr Michael Wheatcroft said “A key challenge we face is to create diagnostic and therapeutic MTR drugs that lend themselves to manufacture and distribution beyond the hospital walls to allow them to be made available to patients across the country, regardless of geography. We expect this IMCRC funded project, which employs carrier compounds designed for use with longer half-life radioisotopes, will capitalise on the extraordinary radiopharmaceutical expertise we have in Australia. This work will enable this new approach to the diagnosis and treatment of cancer to be offered to many more patients in need, including via export of radiopharmaceutical products from Australia with a far longer shelf-life.”

Professor Paul Donnelly from the School of Chemistry, Bio21 Institute, University of Melbourne said that “This innovation brings together radiotherapy, peptide and antibody technology to diagnose and treat a range of cancers including prostate, kidney and neuroendocrine cancers in a very targeted way. It has taken many years of basic research at the School of Chemistry, Bio21 Institute, to develop the carrier compounds that are the principle behind this technology. It’s exciting to see these compounds being translated for clinical use and manufacture.”

Mr David Chuter, CEO and Managing Director of IMCRC, indicated that recent advances in manufacturing contribute to accelerate the development this new approach to cancer diagnosis and treatment. Mr Chuter stated that “Australia is leading the research and preclinical production of MTR drug prototypes. With the development of a scalable and flexible GMP manufacturing process, utilising digital manufacturing solutions, the project will build the foundation to safely and cost-effectively manufacture life-changing MTR drugs in Australia, and export them to the world.”

Page 1

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.telixpharma.com.

About Bio21

Bio21 is one of Australia’s largest biotechnology research institutes, accommodating more than 600 University researchers across the chemical, biomedical and bioengineering sciences. World leading research in the institute is supported by sophisticated analytical research infrastructure platforms funded from Federal/NCRIS, State and University sources. Located within the Melbourne Biomedical Precinct, Bio21 demonstrates the power of bringing together researchers, established industry and start-up companies to address global problems.

About Innovative Manufacturing CRC (IMCRC)

IMCRC has a vision for Australian manufacturing to be thriving, relevant and globally integrated. As a not-for-profit, independent cooperative research centre, the IMCRC helps Australian companies increase their relevance through collaborative, market-driven research in manufacturing business models, products, processes, and services. More at www.imcrc.org

About Cyclotek (Aust) Pty Ltd

Cyclotek has been a leading manufacturer and supplier of Positron Emission Tomography (PET) radiopharmaceuticals since 2001. Cyclotek currently operates manufacturing facilities in Australia and New Zealand and is rapidly expanding its facilities to meet the demands for the manufacture of diverse range of diagnostic and therapeutic radiopharmaceuticals. Cyclotek’s facilities are licensed by the Australian Therapeutic Goods Administration (TGA) to manufacture medicines according to the Code of Good Manufacturing Practice (GMP). For more information go to www.cyclotek.com.

About iPHASE technologies

iPHASE technologies is Australia’s only specialist designer and manufacturer of automated instrumentation for Nuclear Medicine and PET (Positron Emission Tomography) imaging modalities. Based in Melbourne, iPHASE had delivered automated instrumentation solutions to both Australian and international clinical and research institutions. For more information please visit www.iphase.com.au.

About GenesisCare

GenesisCare is one of the largest private providers of oncology and cardiology services in Australia, the U.K. and Spain with 3,000 healthcare professionals and support staff across more than 150 GenesisCare centres. GenesisCare expects to more than double its reach in 2020, with the acquisition of a major U.S. oncology provider under way. Currently, GenesisCare sees 160,000 people annually and carries out more than 350,000 radiation therapy treatments every year, along with treatment options including chemotherapy and innovative theranostics therapies. The GenesisCare theranostics team is committed to developing and using targeted molecular diagnostic imaging and therapeutic agents for the diagnosis and treatment of cancers, with a focus on cancers which are difficult to treat. For details on available locations visit genesiscare.com/au/theranostics/

Page 2

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

Telix Investor Relations 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.

Page 3