Telix Pharmaceuticals Ltd — Interim / Quarterly Report 2018

Apr 26, 2018

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

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Appendix 4C – March 2018 quarter

Melbourne (Australia) – 27[th] April 2018 . Telix Pharmaceuticals Limited (“Telix”, the “Company”), an Australian biopharmaceutical company developing a pipeline of “molecularly targeted radiation”, or “MTR”, products for unmet needs in cancer care, is pleased to provide its Appendix 4C for the March 2018 quarter.

• Net cash outflows from operating activities in the quarter of $2.111 million

• Cash reserves of $46.583 million at the end of the quarter

Key activities in the Quarter

• Commencement of a clinical collaboration with Radboud University Medical Center, laying the foundation for the completion of product development of[89] Zr-Girentuximab for renal cancer patients;

• Submission of a Drug Master File (DMF) to the US FDA for a sterile kit used in the preparation of[68] Ga-PSMA-11, as an important step toward a product approval for the prostate imaging agent. The DMF is held by Kyzeo Imaging LLC, a joint-venture between Telix Pharmaceuticals (US) Inc. and ANMI SA;

• Kyzeo additionally entered into a contract with Endocyte in relation to providing imaging technology for Endocyte’s phase III trial of 177Lu-PSMA-617 (the “VISION” trial); and

• Commencement of a research partnership with the French National Institute of Health and Medical Research (INSERM) and the Accelerator for Research in Radiochemistry and Oncology at Nantes Atlantic (ARRONAX).

About Telix Pharmaceuticals Limited

Telix is an Australian biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or molecularly-targeted radiation (MTR). The Company is developing an advanced portfolio of 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.

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

Investor and Media Relations Kyahn Williamson WE Buchan Tel: +61 (3) 9866 4722 Email: kwilliamson@buchanwe.com.au

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

+Rule 4.7B

Appendix 4C

Quarterly report for entities subject to Listing Rule 4.7B

Introduced 31/03/00 Amended 30/09/01, 24/10/05, 17/12/10, 01/09/16

Name of entity

Telix Pharmaceuticals Limited

ABN		Quarter ended (“current quarter”)
85 616 620 369		March 2018

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(3 months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers	-	-
1.2	Payments for
	(a) research and development	(852)	(852)
	(b) product manufacturing and operating	-	-
	costs
	(c) advertising and marketing	(1)	(1)
	(d) leased assets	-	-
	(e) staff costs	(748)	(748)
	(f) administration and corporate costs	(614)	(614)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	1	1
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Government grants and tax incentives	-	-
1.8	Other (provide details if material)	103	103
1.9	Net cash from / (used in) operating	(2,111)	(2,111)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a) property, plant and equipment	-	-
	(b) businesses (see item 10)	-	-
	(c) investments	-	-

• See chapter 19 for defined terms

1 September 2016

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(3 months)
			$A’000
	(d) intellectual property	-	-
	(e) other non-current assets	-	-
2.2	Proceeds from disposal of:
	(a) property, plant and equipment	-	-
	(b) businesses (see item 10)	-	-
	(c) investments	-	-
	(d) intellectual property	-	-
	(e) other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other (provide details if material)	-	-
2.6	Net cash from / (used in) investing	-	-
	activities
3.	Cash flows from financing activities
3.1	Proceeds from issues of shares	-	-
3.2	Proceeds from issue of convertible notes	-	-
3.3	Proceeds from exercise of share options	-	-
3.4	Transaction costs related to issues of	-	-
	shares, convertible notes or options
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and	-	-
	borrowings
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	-
3.10	Net cash from / (used in) financing	-	-
	activities
4.	Net increase / (decrease) in cash and
	cash equivalents for the period
4.1	Cash and cash equivalents at beginning of	48,694	48,694
	quarter/year to date
4.2	Net cash from / (used in) operating	(2,111)	(2,111)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	-	-
	(item 2.6 above)
4.4	Net cash from / (used in) financing activities	-	-
	(item 3.10 above)

• See chapter 19 for defined terms 1 September 2016

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter		Year to date
		$A’000		(3 months)
				$A’000
4.5	Effect of movement in exchange rates on	-		-
	cash held
4.6	Cash and cash equivalents at end of	46,583		46,583
	quarter
5.	Reconciliation of cash and cash	Current quarter		Previous quarter
	equivalents	$A’000		$A’000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	25,322		48,694
5.2	Call deposits	21,001		-
5.3	Bank overdrafts	-		-
5.4	Other (provide details)	-		-
5.5	Cash and cash equivalents at end of	46,583		48,694
	quarter (should equal item 4.6 above)

6.	Payments to directors of the entity and their associates	Current quarter
		$A'000
6.1	Aggregate amount of payments to these parties included in item 1.2	233
6.2	Aggregate amount of cash flow from loans to these parties included	-
	in item 2.3
6.3	Include below any explanation necessary to understand the transactions included in
	items 6.1 and 6.2
7.	Payments to related entities of the entity and their	Current quarter
	associates	$A'000
7.1	Aggregate amount of payments to these parties included in item 1.2	-
7.2	Aggregate amount of cash flow from loans to these parties included	-
	in item 2.3
7.3	Include below any explanation necessary to understand the transactions included in
	items 7.1 and 7.2

• See chapter 19 for defined terms

1 September 2016

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

8.	Financing facilities available	Total facility amount	Total facility amount	Amount drawn at
	Add notes as necessary for an	at quarter end		quarter end
	understanding of the position	$A’000		$A’000
8.1	Loan facilities		Nil	Nil
8.2	Credit standby arrangements		Nil	Nil
8.3	Other (please specify)		Nil	Nil
8.4	Include below a description of each facility above, including the lender, interest rate and
	whether it is secured or unsecured. If any additional facilities have been entered into or are
	proposed to be entered into after quarter end, include details of those			facilities as well.
9.	Estimated cash outflows for next quarter			$A’000
9.1	Research and development			4,025
9.2	Product manufacturing and operating costs
9.3	Advertising and marketing
9.4	Leased assets
9.5	Staff costs
9.6	Administration and corporate costs			950
9.7	Other (provide details if material)			405
9.8	Total estimated cash outflows			5,380

10.	Acquisitions and disposals of	Acquisitions	Disposals
	business entities
	(items 2.1(b) and 2.2(b) above)
10.1	Name of entity	None	None
10.2	Place of incorporation or	N/A	N/A
	registration
10.3	Consideration for acquisition or	N/A	N/A
	disposal
10.4	Total net assets	N/A	N/A
10.5	Nature of business	N/A	N/A

• See chapter 19 for defined terms 1 September 2016

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Appendix 4C Quarterly report for entities subject to Listing Rule 4.7B

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Sign here:

............................................................ Date: 27 April 2018 ( ~~Director/~~ Company secretary)

Print name: Melanie Farris

Notes

1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. See chapter 19 for defined terms 1 September 2016

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