Shortfall Placement Oversubscribed

PharmAust raises $2 million in Rights Issue

Shortfall successfully placed through the lead manager to the issue, Alto Capital

Capital raised enables: completion of GMP tablet manufacture, completion of Phase II trials in dogs with cancer, and initiation of Phase I/II trial program in humans with cancer

11 April 2019: PharmAust Limited (ASX: PAA), a clinical stage oncology company, is pleased to advise that the shortfall from the recent entitlement offer has been successful placed through the lead manager to the issue, Alto Capital Pty Ltd, raising additional gross proceeds of approximately $700,000. The shortfall placement was heavily oversubscribed. The shortfall placement comprised approximately 28 million shares at 2.5 cents per share. The proceeds from the recent placement and entitlement offer now totals $2 million, before costs.

The proceeds will be used to complete the Phase I and II clinical programs examining the anticancer activity of monepantel in dogs with cancer, as well as initiating similar anticancer clinical trials in humans with cancer

PharmAust CEO Dr Roger Aston said, “The interest that PharmAust continues to receive from a broad audience of investors is excellent and defies broader market volatility. As the story is becoming progressively discovered, the quality and potential of our clinical programs are steadily becoming recognized.”

“Once again, I would like to thank all shareholders who participated in the Offer, and we welcome our new investors to the Company ahead of this exciting time for PharmAust.”

Enquiries:

Dr Roger Aston

Executive Chairman and CEO Tel: 0402 762 204 [email protected]

Sam Wright

Director & Company Secretary

Tel: 08 9202 6814

[email protected]

PharmAust Limited ABN 35 094 006 023. Suite 39, 1 Freshwater Parade, Claremont, Western Australia

Tel: 08 9202 6814 Fax: 08 9467 6111

www.pharmaust.com

About PharmAust (PAA)

PAA is a clinical-stage company developing targeted cancer therapeutics for humans and animals. The company specialises in repurposing marketed drugs lowering the risks and costs of development. PAA’s subsidiary, Epichem, is a successful contract medicinal chemistry company that generated $3m revenues in FY2018.

PAA’s lead drug candidate is monepantel (MPL), a novel, potent and safe inhibitor of the mTOR pathway – a key driver of cancer. MPL has been evaluated in Phase 1 clinical trials in humans and dogs; was well tolerated and produced a significant reduction in key prognostic biomarkers. PAA is uniquely positioned to commercialise MPL for treatment of human and veterinary cancers as it advances the drug to Phase 2 clinical trials.

www.pharmaust.com

PharmAust Limited ABN 35 094 006 023. Suite 39, 1 Freshwater Parade, Claremont, Western Australia

Tel: 08 9202 6814 Fax: 08 9467 6111

www.pharmaust.com