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TELIX PHARMACEUTICALS Telix Pharmaceuticals Limited ACN 616 620 369 Suite 401 , 55 Flemington Road North Melbourne Victoria , 3051 Australia Activity Report and Appendix 4C for Q4 2020 Melbourne ( Australia ) - 29 January 2021. Telix Pharmaceuticals Limited ( ASX : TLX , ' Telix ' , the ' Company ' ) today provides its Appendix 4C quarterly cash flow statement and accompanying Activity Report for the quarter ending 31 December 2020. All figures are in $ AUD unless otherwise stated . Financial Summary • The Company held cash reserves of $ 79.09 million on 31 December 2020 . • An up - front non - refundable prepayment of $ 33.81 million , plus an equity investment of $ 35.1 million were received during the quarter following completion of a strategic licence and commercial partnership with China Grand Pharmaceutical and Healthcare Holdings Limited ( CGP ) for Greater China.1 • Operating expenditure during the quarter included $ 7.93 million for R & D and clinical trial costs , as well as regulatory filing costs for Telix's first product IlluccixⓇ ( TLX591 - CDX ) , for the Positron Emission Tomography ( PET ) imaging of prostate cancer . • Telix has sufficient capital reserves to launch its first two products Illuccix® ( TLX591- CDX ) and TLX250 - CDx for prostate and renal cancer imaging , respectively² , and to fund ongoing clinical development costs in 2021 and 2022.3 For personal use only Major progress achieved during Q4 During the December quarter , Telix made major progress on its mission to help patients with cancer live longer , better quality lives , and towards its key 2021 objective of transitioning to a commercial - stage pharmaceutical company . While progress occurred across all facets of the Company's operations , the most significant developments included : 1. Advancing Illuccix® ( TLX591 - CDx ) towards commercial launch in 2021. We note that IlluccixⓇ is the product name agreed with the FDA and supersedes the use of Illumet® . 2. Completing commercial transactions , financing and technology collaborations 3. Advancing the TLX591 ( prostate cancer therapy ) program , as Telix's most advanced - stage therapeutics program 4. Executing clinical activity across the pipeline , both diagnostic and therapeutic programs . Advancing IlluccixⓇ towards commercial launch in 2021 Telix's first commercial product is Illuccix® ( TLX591 - CDx ) , a diagnostic imaging agent for the PET imaging of prostate cancer . In December , the U.S. Food and Drug Administration ( FDA ) 1 ASX disclosure 2/11/20 . 2 Subject to approvals in the relevant jurisdictions . None of Telix's products have attained a marketing authorisation in any country . 3 Subject to timely commencement of revenues from product launch of Illuccix® ( TLX591 - CDX ) in the US / EU . Page 1