Announcement PDF Share Purchase Plan Open 28 June 2024 – Melbourne Australia: PharmAust Limited (ASX:PAA) (PharmAust or the Company), a clinical-stage biotechnology company, announced on Friday, 21 June 2024 that it had received binding commitments to raise $10 million (before costs) in a placement of new fully paid ordinary shares in the Company to institutional and sophisticated investors (Placement) and that it would be undertaking a $2 million share purchase plan (SPP). The proceeds of the Placement and SPP will be used to finalise preparations for the pivotal adaptive Phase 2/3 STRIKE study in patients with Motor Neurone Disease (MND) / amyotrophic lateral sclerosis (ALS), GMP manufacturing, preclinical models for other neurodegenerative diseases, regulatory filings, working capital and offer costs. The SPP will open at 9.00am (Melbourne time) today, Friday, 28 June 2024, to eligible PharmAust shareholders, being shareholders who had a registered address in Australia or New Zealand on PharmAust’s register at 7.00pm (Melbourne time) on Thursday, 20 June 2024 (and who otherwise meet certain other conditions) (Eligible Shareholders), to apply for up to $30,000 of new fully paid ordinary shares (SPP Shares) free of any brokerage, commission and transaction costs. Participation in the SPP is optional. The SPP Shares will be offered at an issue price of $0.19, being the same issue price as the Placement, and will rank equally with existing PharmAust fully paid ordinary shares quoted on the ASX from their date of issue. The SPP will enable Eligible Shareholders, irrespective of the size of their holding, to apply to participate in the capital raising at the same issue price as the Placement, and not incur any brokerage or transaction costs. The Company reserves the right to determine the aggregate amount it raises through the SPP. PharmAust may (in its absolute discretion) in a situation where total demand exceeds $2 million, decide to increase the amount to be raised under the SPP to reduce or eliminate the need for scale back; and/or undertake a scale back of applications to the extent and in the manner it sees fit. SPP booklet The SPP is subject to the terms and conditions set out in the SPP booklet (a copy of which is attached). Eligible Shareholders who have provided an email address will be sent an email communication with details of how to obtain a copy of the SPP booklet and their personalised application form. Eligible Shareholders who have not provided an email address will be sent an SPP offer letter (a sample of which is attached) via post with details of how to obtain a copy of the SPP booklet and their personalised application form. A copy of the SPP booklet is also available for download at www.computersharecas.com.au/paa. Eligible Shareholders are encouraged to read the SPP booklet carefully, and if in any doubt about whether or not to accept the SPP offer, to consult with a financial or other professional adviser. The SPP offer is expected to close at 5.00pm (Melbourne time) on Friday, 19 July 2024 (unless extended, withdrawn or closed early by the Company). To apply for SPP Shares, Eligible Shareholders must, by 5.00pm (Melbourne time) on Friday, 19 July 2024, make a payment directly via BPAY®1 in accordance with the instructions on their personalised application form. Eligible Shareholders with a registered address in New Zealand who are unable to pay by BPAY may pay for SPP Shares by making an electronic funds transfer in accordance with the instructions on their personalised application form. 1 Registered by BPAY Pty Ltd (ABN 69 079 137 518). PharmAust Limited ABN 35 094 006 023. Level 4, 96-100 Albert Road, South Melbourne VIC 3205 Tel: +61 3 9692 7222 www.pharmaust.com Shareholders with questions in relation to how to participate in the SPP may contact PharmAust’s registry from 8.30am to 5.00pm (Melbourne time) Monday to Friday (excluding public holidays) on 1300 722 909 (callers within Australia) or +61 3 9415 4692 (callers outside Australia) during the SPP offer period. Key dates for the SPP Event Date Record Date (the date that eligibility to participate in the SPP was determined) 7.00pm (Melbourne time) Thursday, 20 June 2024 Opening Date for applications 9.00am (Melbourne time) Friday, 28 June 2024 Closing Date for applications 5.00pm (Melbourne time), Friday, 19 July 2024 Results of SPP announced Friday, 26 July 2024 Issue of SPP Shares Friday, 26 July 2024 SPP Shares commence trading on ASX Monday, 29 July 2024 Despatch of holding statements Tuesday, 30 July 2024 The above timetable is indicative only and subject to change. PharmAust reserves the right to alter the dates above at its discretion, subject to the Listing Rules and Corporations Act. All references to times above are to Melbourne time. This announcement is authorised for release by the Board of Directors of PharmAust Limited. For further information, please contact: Dr Michael Thurn Managing Director investorenquiries@pharmaust.com P +61 (3) 9692 7222 W www.pharmaust.com Media: Catherine Strong Morrow Sodali c.strong@morrowsodali.com 0406 759 268 PharmAust Limited ABN 35 094 006 023. Level 4, 96-100 Albert Road, South Melbourne VIC 3205 Tel: +61 3 9692 7222 www.pharmaust.com About PharmAust Limited: PharmAust Limited is listed on the Australian Securities Exchange (ASX Code: PAA). PAA is a clinical-stage biotechnology company developing therapeutics for neurodegenerative diseases. The company is focused on repurposing monepantel (MPL) for amyotrophic lateral sclerosis (ALS). ALS is the most common form of motor neurone disease (MND) and affects both upper and lower motor neurons. MPL is a potent and safe inhibitor of the mTOR pathway. This pathway plays a central role in the growth and proliferation of cancer cells and degenerating neurons. The mTOR pathway regulates the cellular “cleaning process”, where toxic proteins are broken down into macromolecules to be reused. This autophagic process is disrupted in most neurodegenerative diseases, including ALS. The company recently announced positive top-line results for its Phase 1 MEND study in participants with ALS. PAA is in the planning stages for a registration adaptive Phase 2/3 STRIKE clinical study and anticipates commencing enrolment in H2 CY 2024. This single pivotal study could potentially lead to accelerated approval with the US Food and Drug Administration for monepantel for the treatment of ALS in 2026. In 2024, the Neurodegenerative Disease Market size is estimated to be worth USD 55.12 billion, with a forecast growth (CAGR) of 7.14% the market size is expected to reach USD 77.82 billion by 2029.1 1 https://www.mordorintelligence.com/industry-reports/neurodegenerative-disease-market PharmAust Investor Hub: We encourage you to utilise our Investor Hub for any enquiries regarding this announcement or other aspects concerning PharmAust. This platform offers an opportunity to submit questions, share comments, and view video summaries of key announcements. Access the investor hub by scanning the QR code or visiting: https://investorhub.pharmaust.com/ PharmAust Limited ABN 35 094 006 023. Level 4, 96-100 Albert Road, South Melbourne VIC 3205 Tel: +61 3 9692 7222 www.pharmaust.com For all enquiries: Phone: (callers within Australia) 1300 722 909 (callers outside Australia) + 61 3 9415 4692  Online: www.computersharecas.com.au/paa *L000001* PAA MR SAM SAMPLE 123 SAMPLE STREET SAMPLETOWN VIC 3000 NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES 28 June 2024 Dear Shareholder, Opportunity to participate in the PharmAust Share Purchase Plan On behalf of the directors of PharmAust Limited (PharmAust), I am pleased to offer you the opportunity to participate in a share purchase plan (SPP), which allows Eligible Shareholders to subscribe for up to A$30,000 of new Shares in PharmAust (SPP Shares) without incurring brokerage or other transaction costs. The SPP aims to raise up to A$2 million and is not underwritten. PharmAust reserves the right to determine the aggregate amount it raises through the SPP. PharmAust may (in its absolute discretion) in a situation where total demand exceeds $2 million, decide to increase the amount to be raised under the SPP to reduce or eliminate the need for scale back; and/or undertake a scale back of applications to the extent and in the manner it sees fit. The SPP follows PharmAust’s successful institutional placement announced on Friday, 21 June 2024, which raised A$10 million (Placement) (noting that PharmAust directors and management have committed to approximately $1 million in the Placement with such participation subject to shareholder approval (where applicable) which will be sought at PharmAust’s annual general meeting to be held later in the year). The proceeds of the Placement and SPP will be used to finalise preparations for the pivotal adaptive Phase 2/3 STRIKE study in patients with Motor Neurone Disease (MND) / amyotrophic lateral sclerosis (ALS), GMP manufacturing, preclinical models for other neurodegenerative diseases, regulatory filings, working capital and offer costs. SPP Shares are being offered at the Issue Price of $0.19 per SPP Share, being the price paid by institutional investors under the Placement and a 19.8% discount to the volume weight average price of PharmAust shares traded on ASX over the last 5 days on which sales in PharmAust shares were recorded up to and including the day before the SPP was announced. PharmAust Limited ABN 35 094 006 023. Level 4, 96-100 Albert Road, South Melbourne VIC 3205 Tel: +61 3 9692 7222 www.pharmaust.com 916CR_0_Sample_CA/000001/000001 Further details about the Placement are included in PharmAust’s ASX announcement released on 21 June 2024, which we encourage you to read. You can view this ASX announcements at PharmAust’s website: https://investorhub.pharmaust.com/announcements. Participation in the SPP Participation in the SPP is voluntary and open to all Eligible Shareholders, being holders of Shares in PharmAust at 7.00pm (Melbourne time) on Thursday, 20 June 2024 (Record Date) and whose address on the Register is in Australia or New Zealand. The SPP is also being extended to Eligible Shareholders who are Custodians or nominees to participate in the SPP on behalf of certain Eligible Beneficiaries on the terms and conditions set out in the booklet in relation to the SPP (SPP Booklet). Shareholders in the United States are not eligible to participate in the SPP. Similarly, Shareholders (including Custodians and nominees) who hold Shares on behalf of persons in the United States, or are acting for the account or benefit of persons in the United States, are not eligible to participate in the SPP on behalf of those persons. Once issued, SPP Shares will rank equally with existing Shares in PharmAust from their date of issue. The terms and conditions of the SPP are provided in the SPP Booklet made available to Eligible Shareholders today at the SPP offer website: www.computersharecas.com.au/paa. We urge you to read these materials in their entirety and seek your own financial and taxation advice in relation to the SPP, before you decide whether to participate. How to apply for SPP Shares The SPP opens on Friday, 28 June 2024 and is expected to close at 5.00pm (Melbourne time) on Friday, 19 July 2024. SPP Shares are expected to be issued on Friday, 26 July 2024 and to commence trading on ASX on Monday, 29 July 2024. Payment in cleared funds for SPP Shares is due by 5.00pm (Melbourne time) on Friday, 19 July 2024. To access your personalised Application Form and to apply for SPP Shares, visit the SPP offer website at www.computersharecas.com.au/paa and:      Complete the necessary security checks to access the site. Download and read the SPP Booklet in its entirety and seek appropriate professional advice if necessary. Click on Apply Now and follow the prompts. You will need the following details:  Security Reference Number (SRN) or Holder Identification Number (HIN);  The postcode or Country of residence (if outside Australia) of your registered holding. Complete the online application and click submit to receive your personalised BPAY details. Make your BPAY payment in line with your financial institutions’ instructions. In the case of Eligible Shareholders with a registered address in New Zealand, you may pay by EFT. PharmAust Limited ABN 35 094 006 023. Level 4, 96-100 Albert Road, South Melbourne VIC 3205 Tel: +61 3 9692 7222 www.pharmaust.com *M000001Q02* You do not need to return the application form (which is available on the offer website for your reference). However, you will be taken to have provided the confirmations included in the Application Form by making a BPAY or EFT payment. Questions and further information The SPP Booklet contains important information about the SPP to assist you in deciding whether to participate in the SPP. You should read this Booklet carefully and in its entirety before deciding whether to apply. If you have any questions in relation to how to participate in the SPP, please contact the Registry from 8.30am to 5.00pm (Melbourne time) Monday to Friday (excluding public holidays) on 1300 722 909 (callers within Australia) or +61 3 9416 4692 (callers outside Australia) during the SPP Offer period or consult your financial or other professional adviser. If you have any questions in relation to whether an investment in PharmAust through the SPP is appropriate for you, please contact your stockbroker, accountant or other professional adviser. Thank you for your continued support of PharmAust. Yours sincerely Sergio Duchini Chairman This communication does not constitute an offer to sell, or the 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 SPP Shares have not been, and will not be, registered under the United States Securities Act of 1933, or the securities laws of any state or other jurisdiction of the United States. Accordingly, the SPP Shares may not be offered or sold, directly or indirectly, to any person in the United States or to any person who is acting for the account or benefit of a person in the United States (to the extent such person is acting for the account or benefit of a person in the United States). This communication may not be distributed to persons in the United States. PharmAust Limited ABN 35 094 006 023. Level 4, 96-100 Albert Road, South Melbourne VIC 3205 Tel: +61 3 9692 7222 www.pharmaust.com 916CR_0_Sample_CA/000001/000002/i PharmAust Limited Share Purchase Plan Booklet This is an important document and requires your immediate attention. You should read this Booklet in full. Eligible Shareholders have the opportunity to participate in the Share Purchase Plan offer by applying for up to $30,000 of new Shares without incurring brokerage or other transaction costs. Details of the offer and how to participate are set out in this Booklet. Applications for new Shares under the SPP must be received by 5.00pm (Melbourne time) on Friday, 19 July 2024. NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Table of contents 1 Letter to Shareholders 1 2 Summary of important dates 3 3 Summary of SPP 4 4 SPP Terms and Conditions 8 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 4.10 4.11 4.12 4.13 4.14 4.15 5 Offer .................................................................................................................... 8 Eligible Shareholders ........................................................................................ 9 Joint holders and Custodians and nominees ................................................. 9 Applications for SPP Shares ............................................................................ 9 Issue Price ........................................................................................................ 10 Number of SPP Shares to be issued ............................................................. 11 Issue of SPP Shares ........................................................................................ 11 Shareholders outside Australia and New Zealand ....................................... 11 Acknowledgements ......................................................................................... 11 Scale back ........................................................................................................ 14 Dispute resolution ........................................................................................... 14 Variation and termination ............................................................................... 14 Privacy policy ................................................................................................... 14 Underwriting ..................................................................................................... 15 Governing law .................................................................................................. 15 Glossary 16 Important information This Booklet is intended for use only in connection with the SPP Offer to Eligible Shareholders with a registered address in Australia or New Zealand. This Booklet does not constitute an offer of securities in any place outside Australia or New Zealand and no action has been taken to permit an offering of Shares in any jurisdiction outside of Australia and New Zealand. The distribution of this Booklet may be restricted by law and persons (including Custodians and nominees) who come into possession of this document should observe any such restrictions. Due to legal restrictions, Custodians and nominees may not distribute this Booklet, and may not permit any beneficial Shareholder to participate in the SPP, in any country outside Australia or New Zealand. This Booklet may not be distributed or released in the United States. This Booklet does not constitute an offer to sell, or a solicitation of an offer to buy, any Shares in the United States or in any jurisdiction in which such an offer would be illegal. The Shares to be offered and sold under the SPP have not been, and will not be, registered under the U.S. Securities Act or the securities laws of any U.S. state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States or to any person acting for the account or benefit of a person in the United States (to the extent such person is acting for the account or benefit of a person in the United States). The SPP Shares may only be offered and sold to Eligible Shareholders in Australia and New Zealand in “offshore transactions” (as defined in Rule 902(h) under the U.S. Securities Act), in reliance on Regulation S under the U.S. Securities Act. page 1 1 Letter to Shareholders Dear Shareholder On behalf of the directors of PharmAust Limited (PharmAust), I am pleased to offer you the opportunity to participate in a share purchase plan (SPP), which allows Eligible Shareholders to subscribe for up to $30,000 of new Shares in PharmAust (SPP Shares) without incurring brokerage or other transaction costs. The SPP aims to raise up to $2 million and is not underwritten. The SPP follows PharmAust’s successful institutional placement announced on 21 June 2024, which raised $10 million (Placement) (noting that PharmAust directors and management have committed to approximately $1 million in the Placement with such participation subject to shareholder approval (where applicable) which will be sought at PharmAust’s annual general meeting to be held later in the year). New SPP Shares are being offered at the Issue Price of $0.19 per SPP Share, being the price paid by institutional investors under the Placement and a 19.8% discount to the volume weight average price of PharmAust shares traded on ASX over the last 5 days on which sales in PharmAust shares were recorded up to and including the day before the SPP was announced. Use of proceeds The proceeds of the Placement and SPP will be used to finalise preparations for the pivotal adaptive Phase 2/3 STRIKE study in patients with Motor Neurone Disease (MND) / amyotrophic lateral sclerosis (ALS), GMP manufacturing, preclinical models for other neurodegenerative diseases, regulatory filings, working capital and offer costs. Further details about the Placement are included in PharmAust’s ASX announcement released on 21 June 2024, which we encourage you to read. You can view this ASX announcements at PharmAust’s website: https://investorhub.pharmaust.com/announcements. Participation in the SPP Participation in the SPP is voluntary and open to all Eligible Shareholders, being holders of Shares in PharmAust at 7.00pm (Melbourne time) on 20 June 2024 (Record Date) and whose address on the Register is in Australia or New Zealand. The SPP is also being extended to Eligible Shareholders who are Custodians or nominees to participate in the SPP on behalf of certain Eligible Beneficiaries on the terms and conditions set out in this booklet (Booklet). Shareholders in the United States are not eligible to participate in the SPP. Similarly, Shareholders (including Custodians and nominees) who hold Shares on behalf of persons who reside outside Australia or New Zealand, are in the United States, or are acting for the account or benefit of persons in the United States, are not eligible to participate in the SPP on behalf of those persons. Once issued, SPP Shares will rank equally with existing Shares in PharmAust. The terms and conditions of the SPP are provided in this Booklet. We urge you to read these materials in their entirety and seek your own financial and taxation advice in relation to the SPP, before you decide whether to participate. How to apply for SPP Shares To apply for SPP Shares, please follow the instructions in your personalised Application Form. Your personalised Application Form can be accessed via www.computersharecas.com.au/paa. In accordance with the instruction in your personalised Application Form, you must either: page 1  make a payment directly via BPAY®1, which is the fastest and easiest way to apply; or  if you are an Eligible Shareholder with a registered address in New Zealand and unable to pay by BPAY, you may pay for SPP Shares by making an electronic funds transfer. Cheque, bank draft, money order and cash payments will not be accepted. Eligible Shareholders wishing to apply for SPP Shares must ensure that their BPAY payment or EFT payment is received by no later than 5.00pm (Melbourne time) on Friday, 19 July 2024. Questions and further information This Booklet contains important information about the SPP to assist you in deciding whether to participate in the SPP. You should read this Booklet carefully and in its entirety before deciding whether to apply. If you have any questions in relation to how to participate in the SPP, please contact the Registry from 8.30am to 5.00pm (Melbourne time) Monday to Friday (excluding public holidays) on 1300 722 909 (callers within Australia) or +61 3 9415 4692 (callers outside Australia) during the SPP Offer period or consult your financial or other professional adviser. If you have any questions in relation to whether an investment in PharmAust through the SPP is appropriate for you, please contact your stockbroker, accountant or other professional adviser. Thank you for your continued support of PharmAust. Yours sincerely Sergio Duchini Chairman 1 Registered by BPAY Pty Ltd (ABN 69 079 137 518). page 2 2 Summary of important dates Event Date Record Date (the date that eligibility to participate in the SPP was determined) 7.00pm (Melbourne time) Thursday, 20 June 2024 Opening Date for applications 9.00am (Melbourne time) Friday, 28 June 2024 Closing Date for applications 5.00pm (Melbourne time), Friday, 19 July 2024 Results of SPP announced Friday, 26 July 2024 Issue of SPP Shares Friday, 26 July 2024 SPP Shares commence trading on ASX Monday, 29 July 2024 Despatch of holding statements Tuesday, 30 July 2024 This timetable is indicative only and subject to change. PharmAust reserves the right to alter the dates above at its discretion, subject to the Listing Rules and Corporations Act. All references to times in this Booklet are to Melbourne time. page 3 3 Summary of SPP You should read this section in conjunction with the Terms and Conditions of the SPP set out in section 4 of this Booklet. Key SPP details Summary SPP offer Eligible Shareholders of PharmAust may subscribe for up to $30,000 of SPP Shares without brokerage or other transaction costs. Purpose of the SPP The proceeds of the Placement and SPP will be used to fund preparation of the upcoming human Phase 2/3 MND trials, further manufacture of additional MPL tablets for human trials and to strengthen working capital. Voluntary participation Participation in the SPP is entirely voluntary. Before you decide whether to participate in the SPP, PharmAust recommends you seek independent financial advice from your stockbroker, accountant or other professional adviser. If you do not wish to participate in the SPP, no further action is required on your part. Issue Price of the SPP Shares The Issue Price of the SPP Shares is $0.19 per SPP Share, being the price paid by institutional investors under the Placement.There is a risk that the market price of Shares may rise or fall between the date of this Booklet and the time of issue of SPP Shares under the SPP. This means that the price you pay for the SPP Shares issued to you may be less than or more than the market price of Shares at the date of this Booklet or the time of issue. Your application is unconditional and may not be withdrawn even if the market price of Shares is less than the Issue Price. Eligible Shareholders Eligible Shareholders are eligible to participate in the SPP, being Shareholders who were registered holders of Shares at 7.00pm (Melbourne time) on 20 June 2024 with a registered address in either Australia or New Zealand as shown on the Register, provided that such holder is not in the United States and is not acting for the account or benefit of a person in the United States. The SPP is also being extended to Eligible Shareholders who are Custodians or nominees to participate in the SPP on behalf of Eligible Beneficiaries on the terms and conditions provided in this Booklet. Similarly, Shareholders who hold Shares on behalf of persons who reside outside Australia or New Zealand, are in the United States, or are acting for the account or benefit of persons in the United States, are not eligible to participate in the SPP on behalf of those persons. page 4 3 Key SPP details Summary of SPP Summary Custodians may only distribute documents relating to the SPP to Eligible Beneficiaries. In particular, Custodians must not distribute any documents relating to the SPP to any person in the United States or to any person acting for the account or benefit of a person in the United States. Not transferable The SPP offer cannot be transferred. Investment amount Eligible Shareholders may apply for SPP Shares in parcels valued at $1,000, $2,500, $5,000, $7,500, $10,000, $12,500, $15,000, $20,000, $25,000 or $30,000. The number of SPP Shares issued to an Eligible Shareholder will be rounded up to the nearest whole number after dividing the application monies by the Issue Price. PharmAust may (in its absolute discretion) in a situation where total demand exceeds $2 million, decide to: How to apply  increase the amount to be raised under the SPP to reduce or eliminate the need for scale back; and/or  undertake a scale back of applications to the extent and in the manner it sees fit. Eligible Shareholders wishing to apply for SPP Shares may do so by making payment via:  BPAY; or  electronic funds transfer (available only for Eligible Shareholders with a registered address in New Zealand and unable to pay by BPAY). Instructions about how to make payment via BPAY (including your unique BPAY reference number) can be obtained as follows:  if you received an offer letter, instructions about how to make a BPAY payment (including your unique BPAY reference number) are set out in the offer letter; or  if you received an electronic communication from PharmAust regarding the SPP, you can obtain your BPAY instructions (including your unique BPAY reference number) by applying online via www.computersharecas.com.au/paa. You will need to provide your securityholder reference number or holder identification number and follow the instructions provided. You can only make payment via BPAY if you are the holder of an account with an Australian branch of a financial institution that supports BPAY transactions. If you are an Eligible Shareholder with a registered address in New Zealand, your personalised EFT form will contain instructions on how to pay via electronic funds transfer which can be accessed via www.investorcentre.com/au by following the prompts. If you are paying via BPAY or electronic funds transfer, there is no need to return your personalised Application Form but you will be page 5 3 Key SPP details Summary of SPP Summary taken to have made the statements and certifications that are set out in the Application Form. Payment for SPP Shares for the appropriate amount must be received by the Registry prior to the close of the SPP Offer at 5.00pm (Melbourne time) on Friday, 19 July 2024. You should be aware that your financial institution may implement earlier cut-off times with regard to electronic payment and you should therefore take this into consideration when making payment. PharmAust and the Registry accept no responsibility for any delay in the receipt of BPAY or EFT payment. Cheque, bank draft, money order and cash payments will not be accepted. Rights attached to SPP Shares SPP Shares will rank equally with all other