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For personal use only TELIX PHARMACEUTICALS Telix Pharmaceuticals Limited ACN 616 620 369 Suite 401 , 55 Flemington Road North Melbourne Victoria , 3051 Australia Activities Report and Appendix 4C for March 2021 Quarter Melbourne ( Australia ) - 22 April 2021. Telix Pharmaceuticals Limited ( ASX : TLX , Telix , the Company ) today provides its Appendix 4C quarterly cash flow statement and accompanying Activities Report for the quarter ended 31 March 2021. All figures are in $ AUD unless otherwise stated . Financial Summary • • Telix held cash reserves of $ 61.42 million on 31 March 2021 ( $ 77.95 million held on 31 December 2020 ) . Operating expenditure during the quarter was $ 17.13 million , in line with forecasts , with $ 11.49 million invested in R & D and clinical development activities . Operating expenditure during the quarter included the payment of $ 3.50 million for expenses accrued in 2020 , giving underlying cash utilisation of $ 13.63 million . Cash runway for approximately 5 quarters of operations¹ , based on underlying cash utilisation and exclusive of any anticipated revenue from approved product sales . • Telix has sufficient cash reserves at hand to fund the commercial launch of IlluccixⓇ ( TLX591 - CDX ) .² Continued progress towards commercialisation made during Q1 2021 In the first quarter of 2021 , Telix has continued to make significant progress towards its objective of transitioning to a commercial - stage pharmaceutical company . While the Company has set comprehensive objectives for 2021 that aim to advance all aspects of the business , the three most important milestones Telix aims to achieve this year are : 1. Commence the international , multi - centre , Phase III ProstACT randomised controlled trial ( RCT ) of TLX591 ( 177 Lu - rosapatamab ) , Telix's lead prostate cancer therapy product . 2. Complete the Company's Phase III ZIRCON trial of its renal cancer positron emission tomography ( PET ) imaging product . 3. Launch Illuccix® ( TLX591 - CDx , Kit for the preparation of 68Ga - PSMA - 11 ) , Telix's lead prostate cancer PET imaging product . IlluccixⓇ - Commercial Launch Activities Telix's first commercial product will be IlluccixⓇ ( formerly referred to as TLX591 - CDx or illumetⓇ ) , a diagnostic imaging agent for PSMA - PET imaging of prostate cancer . PSMA - PET 1 This is the approximate number of quarters remaining based on underlying cash spend being actual spend for the quarter less $ 3.5M of spend associated with the previous year . When $ 3.5M is deducted the number of quarters remaining is over 4.5 which has been rounded to 5 quarters in the Financial Summary . 2 Subject to approvals in the relevant jurisdictions . None of Telix's products have attained a marketing authorisation in any country . Page 1