Telix Pharmaceuticals Ltd — Capital/Financing Update 2022

Jan 23, 2022

Not for release to U.S. wire services or distribution in the United States

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

Telix completes A$175 million placement and launches A$25 million SPP

Melbourne (Australia) – Monday, 24 January 2022 Telix Pharmaceuticals Limited (ASX:TLX, Telix, the Company) today announces a successful $175 million[1] institutional placement of new, fully paid ordinary shares in the Company ( New Shares ) at a price of $7.70 per New Share ( Placement ). The Placement will be followed by a Share Purchase Plan ( SPP ) to raise up to $25 million at the same offer price.

Following completion of the Placement and SPP, Telix will be well funded to execute on its latestage clinical product pipeline and advance multiple programs towards commercialisation, particularly the ProstACT (prostate cancer therapy) clinical program. The Company also intends to use the additional funds to further expand its pipeline and capabilities around Targeted Alpha Therapy (TAT). These activities are in parallel to launch of Telix’s first commercial product Illuccix® (kit for the preparation of gallium-68 ([68] Ga) gozetotide (also known as[68] Ga PSMA11) injection), which recently attained a marketing authorisation from the U.S. Food and Drug Administration (FDA).

Telix Group CEO Dr Christian Behrenbruch stated, “We are delighted with the level of support for the Placement from new and existing investors. Funds raised under the Placement and SPP will provide the Company with the financial resources to execute on the next phase of Telix’s growth strategy, which is to advance our core therapeutic clinical programs, expand our commercial diagnostic portfolio and proactively seek out new innovations that will cement Telix’s position as a leader in the field of ‘theranostic’ radiopharmaceuticals.

“We are particularly pleased to attract high quality, specialist investors to the register and would like to welcome our new investors and thank our existing shareholders for their outstanding support.”

Placement

The Placement is being made to new and existing investors and comprises the issue of approximately 22,727,273 New Shares at an offer price of $7.70 per New Share ( Offer Price ). The Offer Price represents a 4.8% discount to the closing price of shares on ASX as at close of trading on Wednesday, 19 January 2022 and an 8.8% discount to the 5-day volume weighted average price (VWAP) up to and including Wednesday, 19 January 2022. No shareholder approval is required for the Placement, as the Company will utilise a portion of its existing

1 All references to dollars ($) and cents are to Australian currency, unless otherwise stated.

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placement capacity under ASX Listing Rule 7.1. Shares issued under the Placement will rank equally with Telix’s existing shares.

Settlement of the New Shares to be issued under the Placement is expected to take place on Thursday, 27 January 2022, with allotment and trading to commence on Friday, 28 January 2022.

Share Purchase Plan Offer

In conjunction with the Placement, the Company will offer existing shareholders the opportunity to participate in a Share Purchase Plan ( SPP ) to raise up to a further $25 million. Under the SPP, shareholders at 7:00pm (Melbourne time) on the record date of Friday, 21 January 2022 with a registered address in Australia or New Zealand ( Eligible Shareholders ) will be offered the opportunity to apply for up to $30,000 of New Shares in Telix without any brokerage or transaction costs. The SPP is being undertaken at the Offer Price of $7.70 per New Share, the same price as shares offered to institutional investors under the Placement.

The SPP is seeking to raise a maximum of $25 million. If the total applications received is in excess of this amount, applications will be scaled back in accordance with the scale back policy set out in the SPP Offer Booklet. In the event of a scale back, any excess money received by Telix will be refunded (without interest).

The key dates for the SPP are set out in the timetable below.

The SPP Offer Booklet, which will contain further details of the SPP, will be released separately and will be made available to all Eligible Shareholders. Each New Share issued under the SPP will rank equally with existing shares with effect from its date of issue and Telix will seek quotation of the New Shares issued under the SPP on the ASX.

Use of Proceeds

Net proceeds raised under the Placement and SPP will be used to fund Telix’s clinical trial pipeline, particularly the late-stage clinical trials planned for prostate, renal and brain (glioblastoma) cancer. Funds will also be applied to other therapeutic and diagnostic assets, including future pipeline and indication expansion, as outlined in the accompanying investor presentation.

Co-Founder Sell-Down

Concurrent with the Placement, Telix co-founders, Dr Christian Behrenbruch and Dr Andreas Kluge have each agreed to sell 2 million shares representing 8.1% of their respective shareholdings in Telix ( Sell-Down ).

The Sell-Down will take place at the same price at which New Shares are being issued under the Placement and SPP, being $7.70. The Sell-Down reflects the first sale of shares by Dr Behrenbruch or Dr Kluge since the Company’s inception in December 2015.

Dr Behrenbruch and Dr Kluge are each expected to remain Telix’s largest shareholders, with each holding a relevant interest in 22,675,000 shares (representing approximately 7.3% of Telix’s issued shares on completion of the Placement and SPP). Managing Director & Group CEO, Dr Behrenbruch and Non-executive Director, Dr Kluge remain committed to their continued service to Telix and have pledged to the Board of directors that they will not sell any further shares in Telix at any time in the 12 months following settlement of the sell down.

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Key Dates

Event	Date (2022)
Record Date for SPP (7.00pm, Melbourne time)	Friday, 21 January
Announcement of Placement and SPP and shares recommence trading on ASX	Monday, 24 January
Settlement of the Placement	Thursday, 27 January
Allotment of New Shares issued under the Placement	Friday, 28 January
SPP Offer Booklet made available to Eligible Shareholders. Opening Date of SPP	Monday, 31 January
Closing Date of SPP	Friday, 11 February
Announcement of results of SPP	Wednesday, 16 February
Allotment of New Shares under the SPP	Monday, 21 February
Normal ASX trading for New Shares issued under the SPP commences	Tuesday, 22 February
Dispatch of Holding Statements for New Shares under SPP	Wednesday, 23 February

These dates are indicative only and are subject to change. Telix reserves the right, subject to the Corporations Act 2001 (Cth) and the ASX Listing Rules, to amend this indicative timetable. In particular, Telix reserves the right to extend the closing date for the SPP, accept late applications under the SPP (either generally or in particular cases) and to withdraw or vary the Placement or SPP without prior notice. Any extension of the closing date for the SPP will have a consequential effect on the date for the issue of New Shares.

Other Information

Further information about the Placement, SPP and the Company can be found in the presentation lodged with ASX on Monday, 24 January 2022, which is available on the ASX’s website (www.asx.com.au).

Jefferies (Australia) Pty Ltd, Taylor Collison Limited and Wilsons Corporate Finance Limited acted as Joint Lead Managers to the Placement.

Becketts Lawyers acted as Australian legal adviser to Telix.

The Company’s shares will recommence trading on the ASX today Monday 24 January 2022.

This announcement has been authorised for release by The Board of Directors.

About Telix Pharmaceuticals Limited

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Telix is a biopharmaceutical company focused on the development of diagnostic and therapeutic products using Molecularly Targeted Radiation (MTR). Telix is headquartered in Melbourne, Australia with international operations in Belgium, Japan, Switzerland, and the United States. Telix is developing a portfolio of clinical-stage products that address significant unmet medical need in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX). For more information visit www.telixpharma.com and follow Telix on Twitter (@TelixPharma) and LinkedIn.

Telix’s lead product, gallium-68 ([68] Ga) gozetotide (also known as[68] Ga PSMA-11) injection for prostate cancer imaging, has been approved by the U.S. Food and Drug Administration (FDA),[2] and by the Australian Therapeutic Goods Administration (TGA).[3] Telix is also progressing marketing authorisation applications for this investigational candidate in Europe[4] and Canada.[5]

The Telix Pharmaceuticals name and logo are trademarks of Telix Pharmaceuticals Limited and its affiliates (all rights reserved).

Telix Investor Relations

Ms. Kyahn Williamson Telix Pharmaceuticals Limited SVP Corporate Communications and Investor Relations Email: kyahn.williamson@telixpharma.com

Important Information

This announcement is not financial product or investment advice, a recommendation to acquire securities, or accounting, legal or tax advice. It does not constitute an invitation or offer to apply for securities. It has been prepared without taking into account the objectives, financial or tax situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek legal and taxation advice appropriate for their jurisdiction. Telix is not licensed to provide financial product advice in respect of its securities.

This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

2 ASX disclosure 20 December 2021.

3 ASX disclosure 2 November 2021.

4 ASX disclosure 10 December 2021.

5 ASX disclosure 16 December 2020.

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