2020 Announcements

Appendix 3B and Appendix 3Y Withdrawn

Melbourne, Australia 25 February 2020

CLINUVEL PHARMACEUTICALS LTD (“Company”) withdraws the Appendix 3B (“Appendix 3B”) and Change of Director’s Interest Notice (“Appendix 3Y”) filed by the Company on 5 December 2019.

The Appendix 3B and Appendix 3Y relate to the proposed grant of 1,513,750 unlisted performance rights to the CEO (the “Unlisted Performance Rights”) under the Performance Plan Rules.

Appendix 3B and Appendix 3Y were lodged prematurely.

Shareholders resolved to approve the proposed grant of the Unlisted Performance Rights at the Company’s Annual General Meeting on 20 November 2019.

Under rule 2.1 of the Performance Plan Rules, the Board has the sole discretion to determine when any such grant of Performance Rights is to be made. The Company reports that its Board has not yet exercised its discretion to grant any of the Unlisted Performance Rights to the CEO.

The Company has a period of 12 months from the date of the AGM to make an offer to the CEO to issue the Unlisted Performance Rights, and for that offer to be accepted.

The Company has reviewed the processes that led to the erroneous announcement of 5 December 2019 and has put in place new procedures to mitigate risks of reoccurrence.

The correct number and class of all securities not quoted on the ASX that are held by the CEO is nil. Please refer to the Appendix 3Y lodged with the ASX on 6 November 2019, annexed to this announcement, as the most up-to-date notice for the CEO.

Accordingly, the number of unlisted performance rights issued by the Company under the Performance Plan Rules as at today’s date remains 152,708.

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