Slides
Page 1
September 22, 2026 ASX: TLX | NASDAQ: TLX R&D Day
Page 2
This presentation should be read together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website. The information contained in this presentation is not intended to be an offer for subscription, invitation or recommendation with respect to shares of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this presentation are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this presentation, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in this presentation. This presentation may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Telix’s actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix’s business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix’s preclinical and clinical trials, and Telix’s research and development programs; Telix’s ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix’s product candidates, manufacturing activities and product marketing activities; Telix’s sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix’s product candidates, if or when they have been approved; Telix’s ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix’s expenses, future revenues and capital requirements; Telix’s financial performance; developments relating to Telix’s competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix’s business, including as a result of war or other geopolitical conflicts; and the pricing and reimbursement of Telix’s product candidates, if and after they have been approved. Telix’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements. This presentation also contains estimates and other statistical data made by independent parties and by Telix relating to market size and other data about its industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such data and estimates. In addition, projections, assumptions and estimates of Telix’s future performance and the future performance of the markets in which it operates are necessarily subject to a high degree of uncertainty and risk. Use of Non-IFRS Measures. Telix’s results are reported under International Financial Reporting Standards (IFRS). This announcement includes various non-IFRS financial information to reflect its underlying performance, which have not been subject to audit or review. These non-IFRS measures include Adjusted EBITDA, which represents net earnings attributable to the Group excluding finance costs, income tax expense, depreciation and amortization, remeasurement of provisions, other income and expenses. As required by SEC rules, we have provided reconciliations of these non-IFRS financial measures to the most directly comparable IFRS measures, which for Adjusted EBITDA, is Profit/(loss) before income tax. The Group believes that these non-IFRS measures, which are not considered to be a substitute for or superior to IFRS measures, provide stakeholders with additional useful information on the underlying trends, performance and position of the Group and are consistent with how business performance is measured internally. The non-IFRS measures are not defined by IFRS and therefore may not be directly comparable with other companies’ alternative performance measures. Telix’s first generation PSMA-PET imaging product, gallium-68 (68Ga) gozetotide injection (also known as 68Ga PSMA-11 and marketed under the brand name Illuccix®), has been approved in multiple markets globally. Gozellix® (kit for the preparation of gallium-68 (68Ga) gozetotide injection) has been approved by the U.S. Food and Drug Administration (FDA). Telix’s glioma imaging agent, floretyrosine F 18, marketed under the brand name Pixclara®, is also approved by the FDA. Telix’s osteomyelitis (bone infection) imaging agent, technetium-99m (99mTc) besilesomab (marketed under the brand name Scintimun®) is approved in 32 European countries and Mexico. Telix’s miniaturized surgical gamma probe, SENSEI®, for minimally invasive and robotic-assisted surgery, is registered with the FDA for use in the U.S. and has attained a Conformité Européenne (CE) Mark for use in the EEA. Registrations vary country to country. Refer to your local approved label or regulatory authority status for full information. No other Telix drug or device has received marketing authorization in any jurisdiction. Any other Telix drug or device that is discussed in this presentation, including Zircaix and Pixlumi, is investigational or under development and not approved by any regulatory authority. The efficacy or safety profile of any unapproved drug or device has not been determined by any regulatory authority. In addition, Zircaix and Pixlumi brand names and launch are subject to final regulatory approval. All trademarks and trade names referenced in this presentation are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties. ©2026 Telix Pharmaceuticals Limited. All rights reserved. 2 Forward looking statement
Page 3
Today’s presenters – Telix management Dr. Christian Behrenbruch Managing Director and Group CEO Dr. David N. Cade, MD Group Chief Medical Officer Mr. Kevin Richardson CEO, Precision Medicine Mr. Richard Valeix CEO, Therapeutics Dr. Michael Wheatcroft Vice President Discovery Sciences 3
Page 4
Key Opinion Leaders Dr. Alicia Morgans Associate Professor of Medicine Harvard Medical School, Director of Adult Survivorship Program, Dana-Farber Cancer Institute, Genitourinary Medical Oncologist Dr. Sumanta Pal Professor and Vice Chair of Academic Affairs, Department of Medical Oncology and Therapeutics Research, Co-director Kidney Cancer Program, City of Hope Dr. Arthur Braat Associate Professor Translational Nuclear Oncology and Nuclear Medicine Physician University Medical Center Utrecht 4 Presenters are independent experts not employed by Telix but have been paid fair market value for their time. Views expressed are speakers’ own. Any presenter’s response during Q&A has not been reviewed in advance by Telix. Dr. Varun Sundaram Surgical Urologist and Advanced Prostate Cancer Specialist with Urology Austin
Page 5
Strategy & overview Dr. Christian Behrenbruch Managing Director and Group CEO
Page 6
Five pillars defining our competitive leadership in radiopharma 6 High value therapeutics pipeline Vertically integrated manufacturing and supply chain Specialist commercial organization Integrated Theranostic Approach See It. Treat It. R&D platform for new molecular entities Precision Medicine portfolio
Page 7
Three FDA approvals across prostate and glioma imaging • Launched in 22 countries1 • 17 countries1 in Europe • NDA under review by NMPA in China2 • Registration enabling study in Japan3 • First FDA-approved FET- PET imaging drug for glioma4 • Included in National Comprehensive Cancer Network (NCCN®) guidelines • Inclusion in International guidelines: EANM/EANO /RANO/SNMMI NDA = New Drug Application. NMPA = National Medical Products Administration. 1. Telix ASX disclosure April 6, 2026. 2. Telix ASX disclosure January 20, 2026. 3. Japan Registry of Clinical Trials identifier: JRCT2031250473. 4. Telix ASX disclosure September 14, 2026. 7
Page 8
115 135 142 186 204 206 208 230 247 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 124 Revenue has more than doubled since 2024 REVENUE US$M ® Near-term growth drivers Note: Zircaix and BiPASS have not been evaluated, approved, or cleared by the FDA to diagnose, treat, cure, or prevent any disease. Brand names subject to regulatory approval. A proven track record of commercial execution 8
Page 9
Creating a fully integrated global radiopharma leader 9 Marketing authorizations granted Ongoing clinical trials Building on U.S. success to drive global growth Sale allowed under special exemption (South Korea and New Zealand)
Page 10
Opens new market opportunities for Telix’s products Global network enables just-in-time delivery at commercial scale 10 JV TMS Sacramento Telix planned cyclotron installation at RLS locations 3x manufacturing sites & 2x cyclotrons in BE Global HQ & 2x manufacturing sites in DE TMS Yokohama Cyclotron facility Just-in-time delivery: 24-48hr within EU/US and 72hr across 65 countries worldwide Exclusive, long-standing distributor partnerships in key markets >99% Order fulfillment rate (2025A) >4002 Destinations supplied weekly JV US HQ US HQ Global HQ & TMS North Melbourne Partnered reactor network spanning Europe, Africa, North America, and Australia Network covering >85% of the U.S. market 1. The transaction with ITM is expected to close in FY2026 subject to Telix Shareholder approval, regulatory approvals, and other customary closing conditions. 2. Includes direct customer sites, customer sites managed by distributors and B2B customer sites. >1,000 end-market customer sites reached. 1
Page 11
Strategic investments and partnerships for long-term growth 11 2025 2026 2024 2023 Commercialization Development Discovery Research Capabilities across manufacturing & supply, R&D and isotope production 1 1. The transaction with ITM is expected to close in FY2026 subject to Telix Shareholder approval, regulatory approvals, and other customary closing conditions.
Page 12
Telix + ITM creates a differentiated and scaled global platform Scaled commercial precision medicine Industry’s most advanced therapeutic pipeline Best-in-class radioisotope manufacturing and supply • Potential near-term revenue contribution from ITM-11 with further upside from indication expansion • Expansion into commercially validated NET market • Synergies expected from disciplined capital allocation and optimizing in-house R&D capabilities • Commercially scaled high growth business • Near-term revenue diversification and growth potential through new products and label expansion • ITM’s complementary pipeline adds attractive lifecycle management opportunities • Global radioisotope demand for commercial and clinical use is increasing • ITM’s high growth, high- margin radioisotope manufacturing enhances cash generation • End-to-end integration of critical global supply chain derisks supply for future commercial products Three complementary growth engines under one platform 12 1 1. The transaction with ITM is expected to close in FY2026 subject to Telix Shareholder approval, regulatory approvals, and other customary closing conditions.
Page 13
Transaction reinforces Telix’s growth strategy High value therapeutics pipeline Vertically integrated manufacturing / supply chain Specialist commercial organization R&D platform for new molecular entities Precision Medicine portfolio Accelerates entry into established NET market Enhanced development capabilities Novel product and life-cycle management opportunities Adds commercial depth and expertise Value creation from therapeutic radioisotopes leadership ✓ ✓✓ ✓✓ The combination of ITM + Telix enhances our ability to compete 13 1 1. The transaction with ITM is expected to close in FY2026 subject to Telix Shareholder approval, regulatory approvals, and other customary closing conditions.
Page 14
Dr. Michael Wheatcroft VP, Discovery Sciences R&D Strategy
Page 15
Target selection: Unlocking the advantages of targeted radiation Our approach to target selection • Tumor-specific antigens that enable a favorable therapeutic window • High target prevalence in the selected indication • High expression to maximize efficient radiation delivery • Internalizing targets supporting sustained intracellular radiation exposure • Validated target biology to inform clinical development • Stable, durable target expression supporting reliable tumor targeting Established targets in late-stage development (PSMA, CAIX, LAT1); novel targets in early-stage research 15
Page 16
Optimized targeting agents drive next-generation candidates 1. Wu et al. Methods. 2014; PK: Pharmacokinetics. 2. Monoclonal antibody. 3. Telix ASX disclosure January 31, 2025. Telix acquired a proprietary novel biologics technology platform from ImaginAb, Inc. Format trade-offs Small molecule/peptide Engineered mAb2 Full length mAb (IgG) Time to max. tumor uptake Blood clearance Tumor retention Internalization Fast Fast Low Less likely Slow Slow High Highly likely Small molecule/ peptide Nanobody scFv Diabody scFv-FcMinibody IgG△CH2 IgG 1.6 kDa 15 28 55 80 100 130 150 kDa Mainly cleared via kidney Mainly cleared via liver Different formats offer different features; trade-offs for delivery to and interaction with the cancer cell Accessing a diversity of formats with different properties supports a range of radioisotopes with differing clinical utilities A modality agnostic approach enables the right candidate for the right clinical need 16
Page 17
17 TLR602-Tx [212Pb/225Ac] Target: αvβ6 Integrin Potential indications: Non-Small Cell Lung Cancer, NSCLC Target Validation Highly expressed across a range of cancers: 90%+ of ovarian cancer1,4 90%+ of pancreatic cancer2,4 50%+ of NSCLC3,4 Status Planning FIH imaging study to demonstrate clinical proof of concept utilizing [89Zr] Alpha-Payload: (212Pb / 225Ac) Minibody targeting agent TLR603-Tx [212Pb/225Ac] Target: DLL3 (Delta Like Ligand-3) Potential indications: Small Cell Lung Cancer, SCLC Target Validation Expressed in 85% of SCLC patients4,6 High unmet need: 9% 5-year survival rate6 Status Planning FIH imaging study to demonstrate clinical proof of concept utilizing [89Zr] Minibody clinical example7 (1st Gen. PSMA minibody uptake @MSKCC) SUV LBM MAX Time (h) 6 0 0 30 40 60 80 100 8 10 12 14 16 120 4 2 Minibody bone lesions IgG bone lesions 1: Ahmed et al. Carcinogenesis. 2002. 2. Sipos et al. Histopathol. 2004. 3. Elayadi et al. Cancer Res. 2007. 4. American Cancer Society, Key Statistics 2025 https://www.cancer.org/cancer/types.html. 5. Rojo et al. Lung Cancer. 2020. 6. American Cancer Society, Key Statistics 2025 https://www.cancer.org/cancer/types.html. 7. Pandit-Taskar N, et al. J. Nuc. Med. 2016. Minibody candidates advancing into the clinic 17
Page 18
Matching alpha and beta emitters to tumor biology • Emission profile • Half-life vs pharmacokinetics • Depth of penetration • Tumor size / distribution • Tumor microenvironment & heterogeneity • Supply chain considerations β-Radiation α-Radiation α vs β Therapeutic radiationRadioisotope paired to utility Match the radioisotope to targeting agent & use: • Diagnostic <> Therapeutic utility • Fast kinetics <> Slow kinetics Isotope selection tailored to biology, target and clinical activity 18
Page 19
Global manufacturing, distribution & clinical support capabilities 19 1. Telix Innovations Brazil, Ltda., joint venture with R2PHARMA, a subsidiary of GSH Corp Participações S.A. (Grupo GSH), Telix as 51% owner. 2. Partnership with Grand Pharmaceutical Group Limited (Grand Pharma) for the Greater China region. 3. Good Manufacturing Practice. TMS = Telix Manufacturing Solutions Multiple RLS sites in the U.S. with enhanced capabilities and therapy lines being added to selected sites Strategic partner1,2 TMS site Yokohama, Japan ARTMS QIS® for isotope production ARTMS QIS® technology, enabling highly efficient, cost-effective isotope production Sacramento, U.S. Clinical manufacture New Translational facility in Melbourne, Australia Clinical manufacturing, radiotracer dosing and SPECT/CT imaging Seneffe, Belgium GMP3 capacity to deliver therapeutics
Page 20
De-risking therapeutic development through early imaging studies Imaging Therapeutics Imaging complements Therapeutic development ✓ Confirms clinical proof of concept ✓ Provides safety dosimetry estimates to optimize dosing ✓ Identifies the right patient population ✓ Supports clinical endpoints Images from Telix’s STARSTRUCK study, data on file. Patient representative scans - individual results may vary. TOP: 89Zr-girentuximab PET/CT at baseline showing uptake in a sacral metastatic lesion in a patient with ccRCC. BOTTOM: 89Zr-girentuximab PET/CT after three cycles of therapy. 20
Page 21
Mr. Richard Valeix CEO, Therapeutics Pipeline Overview
Page 22
Pipeline: Late-stage and “next generation” assets 22 Pixlumi, Zircaix brand names subject to regulatory approval. PSMA: Prostate-specific membrane antigen. CAIX: Carbonic anhydrase IX. LAT1: L-Type amino acid transporter 1. CD66: Cluster of differentiation 66. PDGFRα: Platelet-derived growth factor receptor alpha. mAb: Monoclonal antibody. SM: Small molecule. FAP: Fibroblast activation protein.
Page 23
Transformative portfolio expansion across early and late-stage assets 23 • Co-development and co-commercialization agreement to develop candidates focused on alpha therapies • 4 initial therapeutic programs, with option for 4 additional programs • Up to $2.1B USD developmental and commercial milestone payments plus royalties (4 programs), with option for 4 additional programs Notes For Regeneron: Telix ASX disclosure April 13, 2026. For ITM: Telix ASX disclosure September 21, 2026. The transaction with ITM is expected to close in FY2026 subject to Telix Shareholder approval, regulatory approvals, and other customary closing conditions. • Adds a complementary therapeutic franchise with multiple pathways for growth • ITM-11 Phase 3 expansion programs create meaningful commercial opportunities • Late-stage pipeline supports label expansion into G2/G3 GEP-NETs, plus NETs of lung or thymus origin • Globally scaled commercial-grade supplier - world’s largest supplier of 177Lu
Page 24
Dr. Alicia Morgans Associate Professor of Medicine at Harvard Medical School Genitourinary Medical Oncologist at Dana-Farber Cancer Institute Prostate Cancer Overview
Page 25
• 1 in 8 men diagnosed with prostate cancer during their lifetime, 1 in 44 patients die from it1 • Projected U.S. figures for 20261: - 333,830 new prostate cancer diagnosis - 36,320 deaths from prostate cancer • Metastatic disease remains associated with substantially poorer outcomes, with a 5-year survival rate of 38% vs. 90% for earlier disease2 Prostate Cancer: Disease Overview 1. American Cancer Society (Cancer Facts & Figures 2025). The American Cancer Society relies on information from SEER (Surveillance, Epidemiology, and End Results) database, maintained by the National Cancer Institute. 2. American Cancer Society, between 2015 – 2021. Annual Incidence (US)1 Most common cancer in men, second leading cause of cancer death in U.S.1 25 Despite therapeutic advances, prostate cancer remains a substantial unmet need
Page 26
Prostate Cancer patient journey Global Standards of Care (SoC) continue to evolve mAPMN/S (mHSPC) 3L+ mAPMR (mCRPC) 2L mAPMR (mCRPC) 1L mAPMR (mCRPC) • Taxane • 177Lu-PSMA-617 post-taxane2 • 223Radium in bone predominant disease only • PARPs in BRCA2m and HRRm only5 • ARPI • Taxane • 177Lu-PSMA-617 pre-taxane3 • 223Radium in bone predominant disease only • PARPs in BRCA2m and HRRm only5 • ARPI • Taxane for high volume disease • PARP in BRCA2m only4 • 177Lu-PSMA-617 recent approval4 Prostate Cancer Working Group 4 (PCWG4) Clinical States: mAPMN/S = metastatic androgen pathway modulator naïve / sensitive; mAPMR = metastatic androgen pathway modulator resistant, HRRm = Homologous Recombination Repair Mutation. mHSPC = metastatic hormone resistant prostate cancer. mCRPC = metastatic castration resistant prostate cancer. ARPI = androgen receptor pathway inhibitor. PARP = poly(ADP-ribose) polymerase. Treatment algorithm for metastatic prostate cancer1 Renal toxicity & QoL considerations increase, especially in earlier disease settings 26 1. Adapted from Calais J. UCLA 2023 EANM 2023; NCCN Guidelines Version 5.2026 Category 1, 2. ClinicalTrials.gov ID: NCT03511664. 3. ClinicalTrials.gov ID: NCT04689828; NCCN Guidelines Version 5.2026 Category 2A. 4. NCCN Guidelines V7.2026: Some Panel members advocate waiting for more mature follow-up before using this regimen in the mCSPC (mAPMN/S) setting given the lack of OS benefit, moderate acute toxicity, and uncertain late toxicity. 5. Homologous recombination repair mutation: e.g. HRR, BRCA2.
Page 27
Advancing beyond first generation PSMA RLT Managing xerostomia (dry mouth) and off-target uptake, remains an important unmet need Select USPI Adverse Reactions in patients treated with 177Lu-PSMA-617 PSMAddition 177Lu-PSMA- 617 + ARPI PSMAfore 177Lu-PSMA- 617 VISION 177Lu-PSMA- 617 + BSOC All Grades (%) Grades 3 or 4 (%) All Grades (%) Grades 3 or 4 (%) All Grades (%) Grades 3 or 4 (%) Xerostomia 46 0 61 0.9 39 0 Decreased eGFR 43 1.8 41 0.9 42 3.4 Xerostomia from salivary gland uptake impacts Quality of Life (QOL): – Grade 2: Oral intake alterations • Mouth lubricants, saliva substitutes, restricted diet (purees and/or soft moist foods) – Grade 3: Inability to adequately aliment orally • Tube feeding or Total Parenteral Nutrition (TPN)- nutrition provided by IV Risk of acute kidney injury, emerging concerns of long-term renal toxicity as agents move up treatment lines 1. Pluvicto Full Prescribing information, revised 07/2026. 2. National Cancer Institute Common Terminology Criteria for Adverse Events (NCI CTCAE) Version 5.0. 27
Page 28
TLX591-Tx 177Lu 177Lu
Page 29
TLX591-Tx is a novel therapy candidate for prostate cancer 1. Patient friendly 2-dose / 2-week regimen: Supports compliance to treatment and ease of integration with standard of care (SOC) 2. Safety and tolerability profile: Low radiation to salivary glands and kidneys, transient and manageable hematologic profile 3. Internalization and prolonged retention: Delivering a payload to the tumor, potentially maximizing cell killing effect 4. Supply, access, and radiation protection: Potential real-world advantages from lower administered activity (76 mCi per dose) Radio antibody-drug conjugate (rADC) approach addresses key unmet needs1-4 Mechanism of Action 29 1. Sartor O, et al. Presented at: American Society of Clinical Oncology Annual Meeting 2024; TPS5115. 2. Sun M, et al. Curr Oncol Rep. 2021. 3. Lenzo et al. Cancers (Basel) 2026. 4. Tagawa ST, et al. Cancer. 2019.
Page 30
Phase 3 study for TLX591-Tx Data review Eligible Patients Part 2: Randomized treatment expansionPart 1: Safety and dosimetry: completed • Ages ≥18 years • Confirmed recurrent glioblastoma Clinicaltrials.gov: NCT06520345 Eligibility: mAPMR2 patients progressing on first ARPI Status: Enrolling patients in Part 2 globally8 (Japan approved for Part 1) Global, multi center, open label study Primary endpoints (Part 1) • Safety and dosimetry Primary endpoint (Part 2) • rPFS6 by BICR7 TLX591-Tx (76mCi) x 2 cycles + abiraterone n = 10 TLX591-Tx + abiraterone/ enzalutamide/ docetaxel abiraterone enzalutamide docetaxel 2:1TLX591-Tx (76mCi) x 2 cycles + enzalutamide n = 10 TLX591-Tx (76mCi) x 2 cycles + docetaxel n = 10 South Korea Singapore Part 1 completed, with FDA alignment to advance to Part 2 in U.S.1 n = 30 n = ~490 ® 30 1. Data to be submitted to the FDA following Type B meeting, to seek IND amendment to proceed to Part 2 in the U.S. 2. Metastatic androgen pathway modulation resistant prostate cancer. 3. Safety & tolerability reported as adverse events. 4. Independent Data Monitoring Committee review, October 2025. 5. Japanese regulator has granted approval for a Japan-specific Part 1 in nine patients, prior to commencing Part 2. 6. Radiographic progression-free survival. 7. Blinded independent central review. 8. Australia, New Zealand, Canada, Singapore, South Korea, Türkiye and UK.
Page 31
Acceptable safety profile confirmed with no new safety signals Adverse Event Grade 1 Grade 2 Grade 3 Grade 4 Total (n) % of N=36 Non-hematologic events Fatigue 10 7 2 0 19 53 Nausea 5 4 1 0 10 28 Dry mouth 9 0 0 0 9 25 Diarrhea 5 3 0 0 8 22 Back pain 4 3 1 0 8 22 Headache 4 1 0 0 5 14 Hematologic events Thrombocytopenia 6 6 5 11 28 78 Neutropenia 2 4 8 9 23 64 Anemia 5 10 1 0 16 44 WBC3 decrease 0 4 6 5 15 42 Lymphopenia 0 5 8 7 20 56 ProstACT Global Part 1 (safety TEAE)1 Key observations Treatment emergent adverse events (TEAE) • Most prevalent non-hematologic adverse events were fatigue (53%), nausea (28%) and dry mouth (25%) • Almost all TLX591-Tx related non-hematologic events were grade 1 or grade 22 • No treatment-related deaths Hematologic events: In line with profile expected for this class of therapy • Grade 3 thrombocytopenia 5/36 (14%) and neutropenia 8/36 (22%) events in line with profile expected for this class of therapy; single Grade 3 anemia • Grade 4 thrombocytopenia 11/36 (31%) and neutropenia 9/36(25%) 31 Patients may have experienced more than 1 event or more than 1 grade of the same event. 1. ProstACT Global Part 1 data on file. Telix Pharmaceuticals. 2. One grade 3 dizziness was considered treatment-related. 3. White blood cell. Non-hematologic events were low grade, hematologic events were transient and manageable
Page 32
0.0 0.2 0.4 0.6 0.8 1.0 1.2 0 50 100 150 200 250 300 350 400 Abiraterone Enzalutamide Docetaxel Hematological events transient and consistent across cohorts 32 n =11 TLX591-Tx (2 doses at 76 mCi each) Days Normalized Platelets (by cohort) Platelet recovery to Grade 1 or better1Recovery to Grade 1 or better, ~15 days post nadir Nadir in platelet counts: average 43 days from dose 1 177Lu-rosopatamab TLX591-Tx, 177Lu-rosopatamab 1. G1 platelets 75,000/µL to 150,000 /µL. 2. ProstACT Global Part 1 data on file. Telix Pharmaceuticals. Platelet counts recovered consistently in all three cohorts at ~15 days post nadir n =14 n =11
Page 33
Demonstrates sustained activity, consistent across cohorts1 TLX591-Tx demonstrated sustained tumor retention across all cohorts through 15 days 33 Key observations • Predictable PK profile: Low inter- patient variability supports reliable dosing, streamlined clinical development • No evidence of drug–drug interaction: Exposure and washout kinetics were consistent across cohorts • Sustained tumor retention: Lesion activity concentrations remained detectable through 15 days, demonstrating prolonged radiation exposure to the tumor Lesion activity Concentrations-Time profile Blood radioactivity Concentrations-Time Profile PK and lesion activity analyses are based on imaging datasets provided by the imaging CRO. Demographic and safety summaries are derived from the iQVIA clinical database; differences in patient numbers reflect data availability across datasets. 1. ProstACT Global Part 1 data on file. Telix Pharmaceuticals. 2. Lesion and blood activity concentrations were measured following the first TLX591-Tx dose (2.8 GBq; ~76 mCi). 3. Number of patients in abiraterone cohort (n = 11), Docetaxel (n = 13), Enzalutamide (n = 10).
Page 34
Organ radiation exposure remained below established safety limits EBRT: external beam radiation therapy; Gy: Gray; MBq: mega Becquerel; RLT: radioligand therapy; SD: standard deviation; TLX591-Tx, 177Lu-rosopatamab. Notes: Organ mean absorbed dose reported in (n = 33) patients. Red Marrow dose determined from blood-based assay, 1.03 ± 0.31 Gy for 2 cycles of 2.81 MBq (76 mCi). 1. Wahl RL, et al. J Nucl Med. 2021;62(Suppl 3):23S-35S. 2. Emami B, et al. Int J Radiat Oncol Biol Phys. 1991;21(1):109-22. 34 Organ mean absorbed dose (Gy) after two cycles of 177Lu-rosopatamab (76mCi)1 Key observations • Liver (clearance organ), colon, rectum, spleen, kidney and red marrow mean absorbed dose (Gy) below threshold for known radiation injury1,2 • Dose to organs at risk consistent with ProstACT SELECT data Organ mean absorbed dose (Gy) after 2 cycles of TLX591-Tx (2.81 MBq)
Page 35
Patient case: TLX591-Tx (2 doses) + docetaxel (6 cycles) 1. Thoracic vertebrae, ribs. 2. ProstACT Global Part 1 data on file. Telix Pharmaceuticals. SPECT TLX591-Tx biodistribution: Single dose Distribution of TLX591-Tx over 15 days2 BASELINE PET 4 hours 1 day 4 days 7 days 15 days* TLX591-Tx seen in the vascular space and liver TLX591-Tx seen at metastatic sites (and liver) * 83-year-old patient with bony metastatic lesions1 Post treatment SPECT imaging after one injection of TLX591-Tx 35 Patient representative scans – individual results may vary. Images are non-quantitative. Stable disease at day 341 (data cutoff)
Page 36
Patient case: TLX591-Tx (2 doses) + abiraterone TLX591-Tx, 177Lu-rosopatamab 1. Subcarinal, right upper para-tracheal, abdominal, pelvic lymph nodes. SPECT TLX591-Tx biodistribution: Single dose distribution of TLX591-Tx over 15 days BASELINE PET 4 hours 1 day 4 days 7 days 15 days* TLX591-Tx seen in the vascular space and liver TLX591-Tx seen at metastatic sites (and liver) * 64-year-old patient with metastatic disease in lymph nodes1 36 Stable disease for 339 days Post treatment SPECT imaging after one injection of TLX591-Tx Patient representative scans – individual results may vary. Images are non-quantitative.
Page 37
Patient case: TLX591-Tx (2 doses) + enzalutamide TLX591-Tx, 177Lu-rosopatamab 1. Subcarinal, right upper para-tracheal, abdominal, pelvic lymph nodes. SPECT TLX591-Tx biodistribution: Single dose distribution of TLX591-Tx over 15 days BASELINE PET 4 hours 1 day 4 days 7 days 15 days* TLX591-Tx seen in the vascular space and liver TLX591-Tx seen at metastatic sites (and liver) * 62 year-old patient with prior ARPI (darolutamide) and docetaxel1 37 Stable disease and on study at 337 days (data cutoff) Patient representative scans – individual results may vary. Images are non-quantitative. Administration of first dose of TLX591-Tx
Page 38
Dr. David N. Cade Group Chief Medical Officer, CMO TLX597-Tx
Page 39
Disease progression shifts clinical priorities Distinct prostate cancer disease states bear implications for patient management 39 SOURCES: 1. Kyriakopoulos et al. J Clin Oncol. 2018, Fizazi et al. Lancet Oncol. 2019 2. Armstrong et al. Eur Urol. 2020; Ryan et al. Lancet Oncol. 2015 Androgen pathway modulator sensitive Androgen pathway modulator resistant Prognosis and patient profile Disease biology • Survival commonly extends beyond 4-5 years1, generally fitter patients • Approximately 2-3 years from initiation of 1L therapy2, greater clinical complexity • Variable tumor burden, more localized • Responsive to androgen suppression • Increasing tumor burden • Progressively resistant phenotypes Clinical implication • Intensify treatment to delay progression to mAPMR • Preserve long-term quality of life • Optimize sequencing across limited options • Maximize efficacy at each treatment line NOTE: Illustrative ranges; outcomes vary by disease volume, prior treatment, patient characteristics and therapy.
Page 40
Addressing patient needs across the care continuum TLX597-Tx and TLX591-Tx profiles are adapted to each disease state 40 TLX591-Tx: First-in-class rADC2 TLX597-Tx: Next gen small molecule1 1. Kahn at al. Dose Optimisation and PSMA Receptor intensification with 177Lu-PSMA-597 in metastatic castration-resistant prostate cancer, the Randomised Phase II OPTIMAL-PSMA trial, presented at IPCS / APCCC 2026; Omar et al, [177Lu]Lu-DOTA-HYNIC-panPSMA radioligand therapy for patients with metastatic castration-resistant prostate cancer, presented at EANM 2025 2. Sartor et al. Presented at: American Society of Clinical Oncology Annual Meeting 2024; TPS5115; Sun et al. Curr Oncol Rep. 2021; Lenzo et al. Cancers (Basel). 2026; Tagawa ST, et al. Cancer. 2019. Excretion organ Kidney and salivary gland impact Efficacy signal • Liver excretion (radio-tolerant organ) with minimal dose to kidneys • Renal excretion BUT with 1/3rd radiation dose to kidney vs PSMA-617 • Limited kidney dose and negligeable salivary gland uptake • Limited kidney dose, radiation to salivary gland 1/5th vs PSMA-617 • rPFS of 8.8 months in ProstACT SELECT trial • High lesion dosimetry, positive signals from OPTIMAL-PSMA and PTherpan-Lu Dosing • 2 doses of 76 mCi enables combination with mAPMR SOC (ARPI and chemo) • 3-7 doses of 230mCi adaptively administered to limit overtreatment mAPMN/S mAPMR
Page 41
TLX597-Tx early data suggests favorable dosimetry profile Selective tumor targeting with lower healthy tissue exposure TLX597-Tx SPECT scan, 5 hrs and 120 hrs Kidneys 0.28 0.58 0.71 Lacrimals 0.35 1.58 2.83 Submandibular 0.25 0.74 0.64 Lesions (bone) 9.74 3.57 4.1 Lesions (soft tissue) 9.57 4.19 2.94 Patient representative scans – individual results may vary. TLX597-Tx (n = 12)1 PSMA-6172 (n = 297) PSMA-I&T2 (n = 153) 1. Khan et al. J Nucl Med. 2026. Final dosimetry report for PSMA-597 (Ascinta Technologies). 2. Ells et al Dosimetry of [177Lu]Lu-PSMA–Targeted Radiopharmaceutical Therapies in Patients with Prostate Cancer: A Comparative Systematic Review and Meta analysis. JNM 2024; 65:1264–1271. < < < > > 5 hrs 120 hrs Gy/GBq 41
Page 42
Leveraging dose intensification and higher activity to enhance tumor response PSMA up-regulation can be seen 3 days after the initial dose through higher TTV Dose 1 (Day 1) Dose 2 (Day 3) SUV mean 5.7 SUV max 25 TTV 2379 mL SUV mean 7.9 SUV max 74 TTV 3977 mL 1. Crumbaker at al. Dose Optimisation and PSMA Receptor intensification with 177Lu-PSMA-597 in metastatic castration-resistant prostate cancer, the Randomized Phase II OPTIMAL-PSMA trial, presented at ASCO GU 2026. Day 1 8.5GBq (230mCi) Day 3 8.5GBq Day 15 8.5GBq Week 10 8.5GBq Week 20 8.5GBq Week 30 8.5GBq First 3 doses administered in 15 days Dose intensification consists of 2 components Higher administered activity of 8.5GBq/dose vs 7.5GBq 1 2 Dose intensification and higher activity are enabled by a favorable safety profile and biodistribution The rationale is to exploit upregulated PSMA expression and incomplete tumor DNA repair Patient representative scans - individual results may vary. 42
Page 43
TLX597-Tx, Phase 2 OPTIMAL-PSMA study Exploring safety and efficacy of dose intensification vs standard treatment Investigator Initiated Trial (PI: Prof Louise Emmett, St Vincent’s Hospital, Sydney) Day 1 8.5GBq (230mCi) TLX597-Tx* Dose Intensified TLX597-Tx Standard of Care n = 80 2:1 Eligibility • Confirmed mAPMR • Progressed on prior ARPI • Baseline 68Ga- PSMA-11 ENZA-p criteria (SUV max >15 at single site and >10 at larger sites) Primary Endpoints • PSA90 RR Secondary Endpoints • PSA50 RR • PSA-PFS • rPFS • OS • ORR • QoL • Safety • Dosimetry n = 40 Day 3 8.5GBq Day 15 8.5GBq Week 10 8.5GBq Week 20 8.5GBq Week 30 8.5GBq Day 1 7.5GBq (200mCi) Week 6 7.5GBq Week 12 7.5GBq Week 18 7.5GBq Week 24 7.5GBq Week 30 7.5GBq Initial 3 doses in 15 days Last 3 doses every 10 weeks 6 doses every 6 weeks 30 weeks of treatment in both arms Part B 68Ga-PSMA-11 PSA at week 8 in both arms Majority of patients received prior taxane ANZCTR Registration Number: ACTRN12625000971437. 1. Pathmanandavel S, et al. J Nucl Med. 2022;63:1343-1351. 2. John N, Pathmanandavel S, et al. J Nucl Med. 2022;64:410-415. 3. Sheehan B, et al. Clin Cancer Res. 2022;28:3104-3115. 43 n= 120 PSA response as well understood surrogate biomarker for small molecules (not for mAbs)
Page 44
Patient case: TLX597-Tx treatment post-chemo (2 lines) and ARPI 71-year-old patient with diffuse bone metastases • Normal kidney function • Substantial shrinkage of lesions • 97% PSA response at week 10 Dose 1 (Day 1) Dose 2 (Day 3) Dose 3 (Day 15) Dose 4 (Week 10) NOTES: Hb, hemoglobin; PLT, Platelets; eGFR, estimated glomerular filtration rate (renal function). Day 1 Day 3 Day 15 Week 6 Week 10 PSA 1,380 1,480 828 131 40 Hb 112 111 117 116 106 PLT 201 198 217 190 208 eGFR 90 90 90 90 89 44 Patient representative scans - individual results may vary.
Page 45
Patient case: TLX597-Tx in advanced setting Extensive skeletal / bone marrow involvement at baseline • Improvement in hemoglobin • Normal kidney function • 99% PSA response Dose 1 (Day 1) Dose 2 (Day 3) Dose 3 (Day 15) NOTES: Hb, hemoglobin; PLT, Platelets; eGFR, estimated glomerular filtration rate (renal function). Advanced setting refer to disease progression post ARPI, received chemotherapy/medically unfit to receive chemotherapy. Day 1 Day 3 Day 15 Week 10 Week 20 PSA 487 522 358 27 1.9 Hb 81 77 113 67 106 PLT 130 123 109 130 244 eGFR 77 75 81 85 83 Dose 4 (Week 10) Dose 5 (Week 20) 45 Patient representative scans - individual results may vary.
Page 46
Eligibility • Minimally treated mAPMN/S • High risk metachronous / synchronous • ADT < 30 days • Baseline PSMA- PET using VISION Criteria Primary endpoint • PSA <0.2ng/mL at 6mo. Secondary endpoints • Safety • PSMA PET response • PSA 50% & 90% RR • ORR • QoL • Dosimetry Day 1 ARPI4 Dose 1 Day 8 8.5GBq Dose 2 Day 10 8.5GBq Dose 3 Week 6 8.5GBq 3 doses in 6 weeks Dose 4 Week 14 8.5GBq Dose 5 Week 22 8.5GBq Dose 6 Week 30 8.5GBq Screening Continuous ADT + ARPI 2 doses every 8-weeks Week 12 PSMA PET/CT Scan & PSA test1 Week 24 PSMA PET/CT Scan & PSA test2 1. After Dose 3, treatment pause is allowed in participants with >90% reduction in volume, no residual large lesions and no new lesions and PSA < 1ng/mL, or in participants with residual PSMA avid disease confined to the prostate only who then receive prostate radiotherapy). 2. After Dose 5, participants who have not had a [177Lu]Lu-PSMA-597 treatment-pause, have a PSA < 1ng/mL, and a >90% reduction in volume, no residual large lesions and no new lesions on the 24-week PSMA PET/CT, will be eligible for a treatment pause. 3. Following 7 doses, an additional 3 doses (7+3) of [177Lu]Lu-PSMA-597 can be given in responding participants at the discretion of the treating investigator. 4. abiraterone, apalutamide, darolutamide, enzalutamide. Dose 7 Week 38 8.5GBq 2 doses every 8-weeks Week 44 PSMA PET/CT Scan & PSA test3 Week 1 ADT Adaptive PSMA targeted radioligand therapy TLX597-Tx, Phase 2 OPTIMAL-e study in mAPMN/S (mHSPC) n= 20 46
Page 47
Beyond Lu-PSMA in Prostate Cancer 225 Ac
Page 48
TLX592-Tx: Evaluating two targeting modalities with alpha therapy Maximizing tumor delivery while limiting off-target uptake First-generation small molecules Clinical experience with first- generation ²²⁵Ac-PSMA agents identified severe/persistent xerostomia as a key dose-limiting challenge1 Antibody-based approach TLX592 combines the biodistribution advantages of antibody constructs, with minimal salivary gland uptake and predominantly liver clearance, with an engineered accelerated clearance profile that has the potential to further enhance safety and tolerability2 Small molecule approach An optimized small molecule approach aims to combine rapid plasma clearance and low kidney and salivary gland uptake with rapid tumor accumulation and prolonged tumor retention 1. Heynickx et al. Nuclear Medicine and Biology. 2021. 2. Refers to CUPID imaging study, using 64Cu-PSMA-RADmAb, presented at ASCO GU, Feb 2025. NCT04726033. Telix is exploring antibody- and small molecule-based approaches in parallel for alpha-PSMA therapy 48
Page 49
TLX090-Tx: Novel candidate for pain from bone metastasis 49 Positive Phase 1 data Phase 1 program 1. Based on data generated by QSAM Biosciences. Data on file. Clinicaltrials.gov. ID: NCT 06008483, Study conducted under IND 156086. 2. Huang et al. Ann Transl Med. 2020. 3. Guo et al. Skelet Radiol. 2025. 4. Woolf et al. Annals of Oncology. 2015. Visual Analogue Scale (VAS) measures pain intensity on a scale of 100 0= no pain, 100 = worst pain Phase 1 data1 demonstrate encouraging efficacy signal Phase 1 data1 showed pain reduction scores on the VAS scale using two different doses of TLX090-Tx • Debilitating pain from osteoblastic bone metastases is one of the most common and burdensome complications of advanced prostate and breast cancer • Up to 90% of patients with metastatic prostate cancer3,4 are affected, contributing to reduced quality of life and mental health • Despite the availability of opioids and external beam radiation therapy (EBRT), many patients remain under-treated, underscoring a critical unmet need for a systemic, targeted, and non- opioid solution that can deliver durable relief Encouraging pain reduction observed in Phase 1 study,1 supporting potential for clinically meaningful benefit • Consistent pain reduction scores (VAS) observed for all patients • Anecdotal reports suggest improved mobility
Page 50
Multi-product therapy portfolio in prostate cancer Androgen pathway modulator-sensitive Androgen pathway modulator resistant PSA tumor burden mAPMN/S 3L+ mAPMR2L mAPMR1L mAPMR Global TLX591-Tx Phase 2a in PSMA+ mAPMN/S patients TLX597-Tx OPTIMAL-e TLX592-Tx TLX090-Tx Palliative Phase 3 in PSMA+ mAPMR patients previously treated with 1 ARPI Aligned to disease state, patient needs and clinical opportunity 50 mAPMN/S = metastatic androgen pathway modulation naïve/sensitive; mAPMR = metastatic androgen pathway modulation resistant.
Page 51
Dr. Varun Sundaram Urology Austin BiPASS Biopsy of the Prostate Avoidance Stratification Study ®
Page 52
Current diagnostic pathway for prostate cancer relies on invasive biopsies • Template biopsies require 15-20 samples obtained through an invasive procedure under anesthesia • Sampling limitations may miss disease or fail to characterize tumor burden. Biopsies are blind to the tumor location • Risks of infection, bleeding, urinary retention, post- procedural complications • Recovery times may vary from days to weeks • Multiple biopsies are often required to diagnose, monitor progression or confirm treatment response Template biopsy 52
Page 53
A significant unmet need remains in the diagnostic pathway Base (top) Apex (bottom) Men with elevated PSA values will often be recommended for MRI1, followed by biopsy • MRI is not specific and often inconclusive, leading to biopsy Areas of biopsy6 1. Magnetic resonance imaging. 2. Vickers et al. J Clin Oncol. 2010. 3. Ahmed et al. Lancet. 2017. 4. https://www.researchgate.net/figure/Complications-of-transrectal-ultrasound-guided-prostate-biopsy_tbl1_10978264 5. Filho et al., 2025. 6. Picture credit: Georgia Radiation Therapy. 7. Schmeusser B, Levin B, Lama D, Sidana A. Hundred years of transperineal prostate biopsy. Ther Adv Urol. 2022;14:17562872221100590. Published 2022 May 21. doi:10.1177/17562872221100590. Biopsy false-negative rates can be as high as 50%7 53 800,000 biopsies performed in the U.S. each year, up to 75% are negative2 • Biopsy is blind to the location of cancer in the prostate • Only ~half of the needles provide useful samples (false negatives)3 Up to 25% of patients refuse a recommended biopsy5 • Reasons for refusal include fear or pain of complications • Skepticism about the necessity of the procedure Biopsies carry real risks4 • Hematuria, rectal bleeding, hematospermia • Inconsistent practice around anticoagulants adds complexity
Page 54
Key insights from PRIMARY and PRIMARY 2 Investigator Initiated Studies (IITs) PRIMARY (n = 291)1 Ga-PSMA-PET +mpMRA mpMRI Sensitivity 97% 83% Specificity 40% 53% Negative predictive value 91% 72% PRIMARY SCORE2 (analysis) Sensitivity 94% 89% Specificity 68% 74% P-Score3 (analysis) Sensitivity 94% 89% Specificity 66% 74% PRIMARY24 (n = 660) Ga-PSMA-PET +mpMRA Biopsy reduction 49% csProstate cancer detected 12% vs 16% PRIMARY study established proof of concept that Ga- PSMA-11 PET + mpMRI improves the detection of prostate cancer. PRIMARY 2 study demonstrated that Ga-PSMA- 11 PET + mpMRI can safely reduce biopsies while maintaining a clinically significant detection of prostate cancer. 1. Emmett L, Buteau J, Papa N, et al. Eur Urol. 2021, 2. Emmett L, Papa N, Buteau J, et al. J Nucl Med. 2022, 3.Emmett L, Papa N, Hope TA, et al. J. Urol. 2024, 4. Buteau JP, Moon D, Fahey MT, et al. Lancet Oncol. 2026. 54
Page 55
, Phase 3 study for detection of prostate cancer Biopsy of the Prostate Avoidance Stratification Study (BiPASS) mpMRI = multiparametric Magnetic Resonance Imaging. 1. Histopathological confirmation will be used to detect prostate cancer. 55 Eligibility: Clinical suspicion of prostate cancer and indicated for template biopsy Status: Completed patient enrollment Global, multi center, open label, single arm study Clinicaltrials.gov: NCT07052214 68Ga-PSMA-11 + mpMRI PI-RADS 1-4 Template biopsy (targeted biopsy) Primary Objective: Detection of clinically significant prostate cancer using mpMRI + 68Ga-PSMA-11 PET1 Co-primary endpoints: Sensitivity and specificity n = 350 6- month follow-up (confirm negative findings) ®
Page 56
56 Image-guided biopsy Staging and surgical planning Precision biopsy 'One and Done' No biopsy 'None and Done' Ga-PSMA-PET at diagnosis aims to: • Improve predictive accuracy • Reduce 12-40 anatomical biopsies to 1-2 biopsies • For some, eliminate the need for biopsy altogether • Decrease risk and anxiety Enabling: • Clearer treatment stratification • Personalized diagnostic journey • Expedited therapy Symptoms or elevated PSA PSMA-PET + mpMRI1 A personalized diagnostic pathway with Ga-PSMA-PET Smarter triage BEFORE biopsy. Integrating imaging with biopsy 1. Multiparametric MRI. 2. Prostate Imaging Reporting and Data System, a scoring system used by radiologists to assess the likelihood of prostate cancer based on multiparametric mpMRI findings. PI-RADS2 1-4 PET Positive Potential high risk (PI-RADS2 5) PIRADS 1-2 PET Negative Risk stratification
Page 57
68Ga has a lower propensity for indeterminate bone lesions (IBLs)1,2 1. Kuchar M, et al. Molecules. 2015;20(9):16186-16220. 2. Rauscher I, et al. J Nucl Med. 2020;61(1):51-57. Free 68Ga, in contrast to 18F, does not have an affinity to bone 57 With 18F, a number of benign bone lesions accumulate PSMA and result in false positives on PSMA-PET/CT. SNMMI Guidelines for Prostate Cancer Imaging There are numerous advantages of having a more streamlined image pattern that guides you more to where the lesions are and avoids the distractions to where the lesions don't belong. Dr. Munir Ghesani
Page 58
Case study: diagnostic accuracy of 68Ga-PSMA-11 1. Fendler WP, et al. PSMA PET/CT: joint EANM procedure guideline/SNMMI procedure standard for prostate cancer imaging 2.0. Eur J Nucl Med Mol Imaging, 2023. 2. Lowrance W, et al. Updates to advanced prostate cancer. F-18 PSMA PET Scan PSA 3.4 • Patient on active surveillance • No active treatment IBL detected 68Ga-PSMA-11 PET Scan 6 months later Resolution without interval treatment confirms lesion benignity Interpreting bone lesions with 18F-based PSMA radiotracers can be more challenging compared to 68Ga due to detection of benign bone lesions1,2 -SNMMI Guidelines 58 Patient case study from IIT: Intra-Individual Comparison of 68Ga- and 18F-Labeled PSMA PET for Skeletal Lesion Characterization in Prostate Cancer: A Pilot Feasibility, Study Interim Analysis led by Dr Ghesani. CT PET PET/CT Fused No rib lesion Patient representative scans – individual results may vary. Images are non-quantitative.
Page 59
The future of prostate cancer detection 1. Celli M, Gunelli R, Ferroni F, Costantini M, Barone D, Fantini L, Fragalà E, Marini I, Di orio V, Foca F, Monti M, Matteucci F and Caroli P (2026) Toward a PSMA PET–mpMRI pathway for biopsy decision-making in men with suspected prostate cancer: interim results from the prospective BIOPSTAGE trial. Front. Oncol. 15:1720861. doi: 10.3389/fonc.2025.1720861. Current state 3 MRI acquisitions Future state 1 PSMA PET scan • 72 year old male was negative for suspicious findings (PI-RADS <3) • PSMA PET detected a focal uptake in the right anterior apex of the prostate1 Patient representative scans – individual results may vary. Images are non-quantitative. 59
Page 60
CEO of Precision Medicine Mr. Kevin Richardson
Page 61
Initial biopsy protocol has remained unchanged since the addition of MRI Current state: PSMA-PET transformed staging and BCR detection PSMA-PET scans (in thousands) Initial staging 151 BCR 460 143 RLT selection 58 Monitoring for mAPMR progression Monitoring response to RLT 71 52 Response to treatment nmAPMR Disease progression Current indications Future indications Total addressable market Current TAM: ~670,000 scans/year TAM = Total addressable market, BCR = Biochemical recurrence, nmAPMR = non-metastatic androgen pathway modulation resistant, RPT = Radiopharmaceutical therapies. ClinicalTrials.gov: NCT07052214. Annual PSMA-PET scan volume in the U.S. based on internal estimates. 1M biopsies 61
Page 62
Potential to double the size of the existing PSMA market Future state: revolutionizes biopsy decision-making BiPASS = Biopsy of the Prostate Avoidance Stratification Study, TAM = Total addressable market, RPT = Radiopharmaceutical therapies, Annual PSMA-PET scan volume in the U.S. based on internal estimates. 1. Estimate one million biopsies performed in the U.S. each year. Source: Schmeusser et al. Therapeutic Advances in Urology, 2022. 2. ClinicalTrials.gov: NCT07052214. Current indications Future indications Total addressable market BCR Monitoring for mAPMR progression (pre-biopsy) Move imaging utilization to the pre-biopsy stage Initial staging reduced 1M+1 821,000 scans/ year Monitoring response to RLT Disease progression Biopsies reduced 62 RLT selection Response to treatment to mAPMR
Page 63
Key Takeaway: Patients show strong preference for a less invasive, imaging-first approach Patient Voice Many men request unnecessary radical prostatectomies simply to avoid getting another biopsy, which I thought was ludicrous. But after having two, with another biopsy on the horizon, I now understand. The biopsy was a necessary but stressful step. I strongly support the development of more accurate, less invasive diagnostic tools to reduce patient anxiety and physical complications. Non-invasive testing options would be a game changer for early detection and reducing anxiety. 95% Would have preferred MRI + PSMA PET prior to biopsy 71% Chose Imaging-First over Biopsy- First as their preferred approach 93% Want their doctor to discuss PSMA PET + MRI in future biopsy decisions 88% Would bring up PSMA PET + MRI if their doctor didn’t 1. Telix patient survey conducted in collaboration with PCEC, Prostate cancer education council. Patients show strong preference for a less invasive, imaging-first approach Survey (n = 1,002 patients who had prostate biopsy in the last 6 years)1 63 Patient preference overwhelmingly favors Ga-PSMA PET scan over biopsy
Page 64
~16,800 ~22,460 ~12,600 ~670,000 scans (~327k patients) ~821,000 scans (~821k patients) ~266,900 scans (~172k patients) Illuccix / Gozellix (Initial Staging, BCR, RLT selection) BiPASS® (diagnosis of prostate cancer) Monitoring RLT therapy, Monitoring for progression in nmAPMR / mAPMR $20B opportunity in Prostate Cancer Therapeutics Precision Medicine TLX597-Tx: mAPMN/S TLX591-Tx: mAPMR 1L + 2L TLX592-Tx: mAPMR 2L+ U.S. TAM (Patients) Target Indication 64 USD $ $2.7B $3.3B $1.1B $4.2B $5.6B $3.2B $20B Source: Datamonitor, Clarivate, internal estimates. Total Addressable Market (TAM) for Precision Medicine uses $4,000/scan for modelling purposes. Therapeutics candidates are using $250,000/treatment based on commercial benchmarks/Datamonitor. These price points do not reflect the actual price charged or the price that Telix will charge in the future. Note: Intended for investor audience only. The FDA has approved Illuccix for use in initial staging, BCR, and RLT selection. The FDA has approved Gozellix for use in initial staging and BCR. Not intended to advertise or promote any other product or indication. BiPASS has not been accepted by the FDA to diagnose, treat, cure, or prevent any disease. Brand names subject to regulatory approval.
Page 65
Dr. Sumanta (Monty) Pal, MD City of Hope Renal Cancer Overview
Page 66
Disease overview: Kidney cancer 14th most commonly diagnosed cancer worldwide1 Age-standardized incidence & mortality highest in North America & Europe1 Twice as common in men vs women1 90% of kidney cancer is RCC, of which ~85% is ccRCC2,3 Age-standardized rate per 100,000 (2022)4 ccRCC, clear cell renal cell carcinoma; RCC, renal cell carcinoma. 1. Bray F, et al. CA Cancer J Clin. 2024;74(3):229-263. 2. Qi X, et al. Front Oncol. 2021;11:727778. 3. Alchahin AM, et al. Nat Commun. 2022;13(1):5747. 4. Globocan 2022 (version 1.1) - 08.02.2024. https://gco.iarc.who.int. 66
Page 67
Significant unmet medical need in ccRCC 1. Bray F, et al. CA Cancer J Clin. 2024;74(3):229-263. 2. Bukavina L, et al. Eur Urol. 2022;82(5):529-542. 3. Alchahn AM, et al. Nat Commun. 2022;13(1):5747. 4. National Cancer Institute. Cancer stat facts: kidney and renal pelvis cancer. Updated 2025. 5. Vento JA, et al. Cancers (Basel). 2022;14(20):5005. 6. Rysz J, et al. Int J Mol Sci. 2025;26(12):5577. 7. Schoenfeld A, et al. Cancer Cell. 2020;37(4):443-455. 8. Obeng-Kusi M, et al. Urol Oncol. 2024;42(2):32.e1-32.e8. 9. Rudresha AH, et al. Indian J Cancer. 2017;54(4):626-630. 10. Sunder S, et al. Signal Transduct Target Ther. 2023;8:262. 11. Mielcarek L, et al. Cancer Chemotherapy Pharmacology 2021;87(6):723-742. 67 ccRCC remains a high-burden disease with poor long-term outcomes despite recent advances Disease Burden Treatment Challenges Need for Better Tolerated Therapies ccRCC is a serious disease with substantial morbidity and mortality1,2,3,4 20–40% of patients with localized ccRCC ultimately progress⁵ 4,700 patients/year in the U.S. need third-line therapy options⁸ • Incidence rates are rising (increased risk factors, incidental detection)² • ~30% of patients present with metastatic disease at diagnosis (5-year survival rate ~20%)³ • ~180,000 deaths annually worldwide from kidney cancer¹ • Current ICI- and VEGFR-based therapies achieve durable benefit in only a subset of patients⁶ • Primary and acquired resistance remain common⁷ • Treatment sequencing beyond 2nd line remains poorly defined⁸ • After 2nd line, no improvement in OS (5-year OS ~18%)⁸ • Disease progression typically occurs with ICI, TKI, belzutifan or everolimus⁹ • Adverse effects frequently lead to dose reductions, interruptions, or discontinuation¹⁰ • Need for targeted therapies that can provide durable disease control with manageable toxicity¹¹
Page 68
• Transmembrane glycoprotein involved in oxygen-sensing pathways and regulator for pH1,2 • Induced by hypoxia or by mutation of the Von Hippel-Lindau tumor suppressor gene1-4 • Expressed in >95% of ccRCC5-7 • Negligible expression in normal kidney tissue7 Novel target in ccRCC - CAIX Adapted from Becker HG.2 CAIX, carbonic anhydrase IX; ccRCC, clear cell renal cell carcinoma. 1. Aldera AP, et al. J Clin Pathol. 2021;74(6):350-354. 2. Becker HM. Br J Cancer. 2020;122(2):157-167. 3 3. Wykoff CC, et al. Cancer Res 2000;60(24):7075–7083. 4. Maxwell PH, et al. Nature 1999;399(6733):271–275. 5. Courcier J, et al. Int J Mol Sci 2020;21(19):7146. 6. Bui MHT, et al. Clin Cancer Res 2003;9(2):802– 811. 7. Stillebroer AB, et al. Eur Urol 2010;58(1):75–83. 68
Page 69
• VHL mutation is pathognomonic for ccRCC, leading to HIF stabilization, accumulation, and tumor growth1 • CAIX is a target of HIF transcriptional activity under hypoxic conditions2 • CAIX is a transmembrane protein and a tumor-specific protein important for maintaining pH balance2 • CAIX is overexpressed in mVHL ccRCC, but shows only low-level expression in normal kidney3,4 CAIX targeting in ccRCC Image adapted under a Creative Commons license from Al-Zuaini HH, et al. Front Oncol. 2023. doi:10.3389/fonc.2023.1207253. ARNT, aryl hydrocarbon receptor nuclear translocator; CAIX, carbonic anhydrase IX; ccRCC, clear cell renal cell carcinoma; HIF, hypoxia-inducible factors; IO, immuno-oncology; mVHL, mutated von Hippel- Lindau; RCC, renal cell carcinoma; VEGF, vascular endothelial growth factor. 1. Chintala S, et al. BMC Cancer. 2012;12:293.2. van Kuijk SJ, et al. Front Oncol. 2016;6:69. 3. Patard JJ, et al. Int J Cancer. 2008;123(2):395-400. 4. Yousef A, et al. Cancer Diagn Progn. 2022;2(6):661-667. 5. Muselaers CH, et al. Eur Urol. 2016;69(5):767-770. Normal cells ccRCC CAIX is is a highly promising target for ccRCC5 CAIX is a highly promising target for ccRCC5 69
Page 70
Monoclonal antibody-based theranostics CAIX, carbonic anhydrase IX; PET, positron emission tomography. 1. Oosterwijk-Wakka et al. Int J Mol Sci. 2013;14(6):11402-23; 2. Kulterer et al. J Nucl Med. 2021;62(3):360-5. 3. Merkx et al. Eur J Nucl Med Mol Imaging. 2021;48(10)3277-85 4. Chamie et al, 2-15. Girentuximab • IgG1 kappa light chain chimeric monoclonal antibody • Girentuximab - highly specific binding to CAIX and internalization • Safety data from Phase 1 -3 clinical studies with girentuximab in RCC, including nearly 500 patients and healthy volunteers 1-4 • Hepatic clearance Payload: 89Zr (imaging) • Positron emitter • Half-life 3.3 days • Suitable for antibody -based PET imaging Payload: 177Lu (therapy) • Medium-energy β-emitter • Half-life 6.7 days • Suitable for antibody-based therapy 70 TLX250-Tx for treatment of ccRCC and TLX250-Px for imaging
Page 71
Disease recurrence or development of metastatic disease Favorable Risk: IO + VEGFR TKI2 or IO + IO3 Intermediate / Poor: IO + TKI or IO + IO or TKI monotherapy4 IO-Exposed: TKI5 or mTOR + TKI6 or HIF-2α inhibitor7 IO-Naive: IO + IO3 or IO + TKI2 Switch TKI5 or mTOR6 + TKI or mTOR8 or HIF-2α inhibitor7 Oligometastatic1: Active Surveillance or SBRT or Metastasectomy Diagnosis and management of localized disease • In 3L+, limited options, poor outcomes • Opportunity to bring novel mode of action (MoA) through fast development pathway as monotherapy LUTEON / LUTEON ATLAS Patient journey for a metastatic kidney cancer patient Unmet needs remain in improving efficacy in 1L and 2L treatments and outcomes in 3L+ therapies 71 1. Options only available for patients with select favorable disease features. 2. Axitinib/Pembrolizumab; Cabozantinib/Nivolumab; Lenvatinib/Pembrolizumab. 3. Ipilumumab/Nivolumab. 4. Cabozantinib only. 5. Cabozantinib; Axitinib; Tivozanib. 6. Lenvatinib/Everolimus. 7. Belzutifan. 8. Everolimus. Opportunity to improve efficacy of approved combination therapies in 1-2L setting SOURCE: NCCN Guidelines, Kidney Cancer. Diagnosis and Surgery 1L therapy 2L therapy 3L+ therapy
Page 72
ccRCC administered activity schedule rationale Observations from prior studies (Phase 1, n=23; Phase 2, n=14) 1,2 ● Patients receiving the maximum number of cycles (3) were predominantly in the lower administered activity* cohorts (80% at ≤3145 MBq; none >4088 MBq) ● More treatment cycles correlated with better outcomes (mOS: 49.3m for 3 cycles, 22.2m for 2 cycles, 18.7m for 1 cycle, respectively) ● Higher administered activity increased hematological toxicity; no Gr 3-4 leukocyte or platelet toxicities received in the lowest activity cohort (1887 MBq) ● Lower administered activity (1887 MBq) was well tolerated and allowed multiple cycles in a previous study (n=11)3 Pharmacology rationale ● TLX250-Tx tumor residence time suggests little/no relevant therapeutic activity remains in tumor after ~3 weeks ● Fractionating the administered activity and reducing the interval from 3 months to 1-2 months can enhance efficacy ● Each fraction stays low enough to avoid dose-limiting toxicity due to cumulative toxicity 1887 MBq every 2 months x 3 cycles Based on activity levels administered in previous studies 1258 MBq every month x 6 cycles Fractionation of 2516 MBq to match tumor exposure window Lower fractionating enables more cycles with manageable toxicity 1 2 3 1. Stillebroer AB, et al. European Urology. 2013;64:478-485. 2. Muselaers CHJ, et al. European Urology. 2016;69:767-770. 3. Starstruck - Telix and Merck terminated co-developed Ph1b study *BSA= ~ 1.7m2. 72
Page 73
TLX250-Tx: LUTEON (Ph3) and LUTEON-ATLAS (Ph2a) trial design HREC = Human Research Ethics Committee, ccRCC = clear cell renal cell carcinoma, DR1 = Dosing regimen 1, DR2 = Dosing regimen 2, PET = positron emission tomography, R= randomization, RP3D = recommended Phase 3 dose, SoC = Standard of care. HREC approval received1 U.S. FDA ‘May Proceed’ received / EU under review Population: • Advanced or metastatic ccRCC • Disease progression on/after 2 to 3 prior systemic lines of therapy • CAIX-positive by 89Zr-TLX250 PET Part 1: Dose Optimization (Phase 2a) Treatment period (months) 1:1 1887 MBq 1887 MBq 1887 MBq 1258 MBq 1258 MBq 1258 MBq 1258 MBq 1258 MBq 1258 MBq 1 2 3 4 5 6 RP3D N=TBD N=TBD Part 2 (Phase 3) Investigators choice (SOC) Dose administration 1-month intervals 2-month intervals 1:1 177Lu-TLX250 (RP3D) US/EU: LUTEON-ATLAS (Ph2a) AUS: LUTEON (Ph3) 1. ClinicalTrials.gov ID NCT07197580. 2. Australia: recruiting, U.S.: site activation, Europe: application under review. 73 1,887 MBq 1,258 MBq Safety Lead-in* N=3 N=3 RP2a *3 pts in Safety Lead-in included in total 20 pts in Part 1 (Dose Optimization); No Safety Lead-in in AUS DR2 = 20 DR1 = 20 Global study locations2 ClinicalTrials.gov ID NCT07197580
Page 74
Dr David Cade Group Chief Medical Officer, CMO Zircaix (TLX250-Px)1 1 Zircaix brand name subject to regulatory approval.
Page 75
Unmet need in diagnosis of ccRCC The most common – and one of the most aggressive – forms of renal cancer 75 1. ccRCC, clear cell Renal Cell Carcinoma; CT, computed tomography; MRI, magnetic resonance imaging; NPV, negative predictive value; RCC, Renal Cell Carcinoma. 2. 1. Qi X, et al. Front Oncol. 2021;11:727778. 2. Alchahin AM, et al. Nat Commun. 2022;13(1):5747. 3. Abu Haeyeh Y, et al. Bioengineering (Basel). 2022;9(9). 4. Metin M, et al. Medicina (Kaunas). 2022;58(2). 5. Finelli A, et al. Eur Urol. 2020;78(3):460-467. 6. Patel HD, et al. J Urol. 2016;195(5):1340-1347. 7. Oei T, et al. Imaging in Medicine. 2011;3(2):207-218. 8. Baio R, et al. Diseases. 2023;11(1):27. Limitations of anatomic imaging (CT, MRI) • Cannot reliably distinguish benign vs malignant Risk of overtreatment and related complications • Up to 30% resected small renal masses found to be benign7 • 30% complication rate of partial nephrectomy in these patients8 Limitations of renal biopsy • Non-diagnostic, 10-15% • Invasive, related risks • Sampling error, 70% NPV6 Need for early & accurate diagnosis / treatment • Up to 85% of RCCs are ccRCC1,2 • ccRCC causes ~90% of deaths of all RCC3,4 • For patients with small renal masses on active surveillance, ccRCC subtype reported to progress most rapidly5 Lymph node Gerota’s facia Adrenal gland Kidney Lymph node Tumor <7 cm in greatest dimension and limited to kidney; 5-year survival, 95% Tumor >7 cm in greatest dimension and limited to kidney; 5-year survival, 88% Tumor in major veins or adrenal gland, tumor within Gerota’s fascia, or 1 regional lymph node involved; 5 year survival, 59% Tumor beyond Gerota’s fascia, or >1 regional lymph node involved; 5 year survival, 20% Stage IV Stage III Stage II Stage I 75
Page 76
TLX250-Px: Highly accurate in detecting ccRCC1 Phase 3 ZIRCON trial validates CAIX as a novel target CAIX, carbonic anhydrase IX; ccRCC, clear cell renal cell carcinoma; mAb, monoclonal antibody; PET, positron emission tomography; rADC, radio antibody-drug conjugate; T1/2, half-life. 1. Shuch B, et al. Lancet Oncol. 2024;25(10):1277-1287. 2. ZIRCON ClinicalTrials.gov ID: NCT03849118. • IgG1 CAIX-targeting mAb • Payload: 89Zr, positron emitter with T1/2 3.3 days • Hepatically cleared • Demonstrated accuracy and favorable safety profile in Phase 3 ZIRCON study and real-world cases2 ZIRCON study results summary Sensitivity & specificity of small lesions ≤4 cm (n=145) • Sensitivity: 85% • Specificity: 90% ≤2 cm (n=20) • Sensitivity: 97% • Specificity: 97% Reader agreement The Fleiss’ κ statistic for inter- reader variability: 91% Cohen's κ statistic for intrareader variability: 100% for each reader Safety & tolerability Favorable profile indicated Primary endpoints: (n=284) Sensitivity: 86% | Specificity: 87%89Zr-girentuximab 76
Page 77
Clinical background: Initial small renal mass detected. CT and MRI demonstrated bilateral masses cT1a (2-4cm), no evidence of extended disease. Initial plan: partial nephrectomy and radioablation TLX250-Px: Patient case study 1 Clinical utility in real-world setting Negative 89Zr-girentuximab scan Following negative scan results, decision made to change initial surgical and treatment plan to active surveillance. Invasive procedure and surgical organ removal avoided. 77 Use of TLX250-Px scan changed clinical management, avoiding unnecessary nephrectomy Patient representative scans – individual results may vary. Images are non-quantitative.
Page 78
Clinical background: 78 year old male with biopsy-confirmed ccRCC and metastases Clinical challenge: Patients with ccRCC frequently develop extension of tumor into renal vein and inferior vena cava. Distinguishing tumor thrombus from bland thrombus is critical – however conventional imaging modalities often unable to reliably differentiate 89Zr-girentuximab demonstrated uptake in: • Primary renal tumor • Bone metastasis • Pulmonary metastases • IVC thrombus consistent with tumor involvement TLX250-Px: Patient case 2 Detection of metastatic ccRCC 78 TLX250-Px scan identified metastatic ccRCC and distinguish tumor thrombus from bland thrombus Patient representative scans – individual results may vary. Images are non-quantitative.
Page 79
Mr. Kevin Richardson CEO, Precision Medicine
Page 80
Building on existing relationships with referring physicians TLX250-Px, Illuccix and Gozellix share common referral stakeholders Presentation Imaging Treatment/Management Urologist Radiologist /Nuclear Medicine Physician Primary Care Physician Medical Oncologist Radiation Oncologist Interventional radiologist Patient 80 Urologist
Page 81
~4,700 ~10,700 ~116,320 Scans (~116k patients) ~56,650 Scans (~23k patients) Diagnosing indeterminant renal masses Detection of localized and metastatic recurrence of ccRCC $4.5B opportunity in Renal Cell Carcinoma Therapeutics Precision Medicine TLX250-Tx: 3rd Line CAIX-positive ccRCC TLX252-Tx: 2nd Line+ CAIX-positive ccRCC U.S. TAM (Patients) Target Indication 81 USD $ $600M $300M $1.1B $2.5B $4.5B Source: Datamonitor, Clarivate, internal estimates. Total Addressable Market (TAM) for Precision Medicine uses $5,000/scan for modelling purposes. Therapeutics candidates are using $230,000/treatment based on commercial benchmarks/Datamonitor. These price points do not reflect the price Telix intends to charge in the future. Note: Intended for investor audience only. Not intended to advertise or promote any product. TLX-250-Px, TLX-250-Tx, and TLX252-Tx have not been accepted by the FDA to diagnose, treat, cure, or prevent any disease. Not intended to advertise or promote any use or indication.
Page 82
Dr. Arthur Braat University Medical Center Utrecht Brain Cancer overview
Page 83
~25k new brain and CNS tumor cases/yr with ~18k deaths/yr (U.S.)1 GBM is the most common and most aggressive type of brain cancer, accounting for ~50% of all malignant CNS tumors or ~15k+ patients/year2 Disease overview: Glioblastoma (GBM) Burden of GBM is increasing, however survival rates have not improved in 20+ years1 1. American Cancer Society (Cancer Facts & Figures 2025). 2. Grochans S, et al. Cancers (Basel). 2022;14(10):2412. 3. Nahm et al. J Clin Oncol 41, e14057(2023). Annual Incidence (US)1 Average Survival (US)1 4 0 2 1975 1985 1995 2005 2015 2022 Year of Diagnosis Rate per 100,000 Relative Survival (%) 60 0 20 40 200 2004 2008 2012 2016 2022 Year of Diagnosis 83 Patients with GBM have a median overall survival of 12-15 months1 from diagnosis and 3-9 months from recurrence3
Page 84
Glioblastoma patient journey Diagnosis First Line treatment Surgical resection Radiotherapy Concomitant & adjuvant chemotherapy ~7 mo. Recurrence Radiotherapy Concomitant & adjuvant chemotherapy Surgical resection ~3 mo. Refractory First line GBM treatment includes maximal safe surgical resection followed by radiochemotherapy • Most patients progress after ~7 months1 • Recurrence occurs in 90% of patients within 2 years1 Upon recurrence, patients are treated with systemic therapy, re-resection, re-irradiation or pointed to a clinical trial2 • Recommendation by NCCN is participation in a clinical trial2 Current imaging modalities (e.g. gold standard MRI) have some limitations4 • New imaging modalities have some advantages (FET PET) Treatment options for GBM remain a significant unmet need 1. Fisher, J.P.; Adamson, D.C. Current FDA-Approved Therapies for High-Grade Malignant Gliomas. Biomedicines 2021, 9, 324. 2. Vaz-Salgado et al. Cancers (Basel). 2023 Aug 26;15(17):4279. 3. NCCN guidelines for Central Nervous Cancers recommend participation in a clinical trial for recurrent or progressive glioblastoma patients. 4. Bernstock et al. Standard clinical approaches and emerging modalities for glioblastoma imaging, Neuro-Oncology Advances, Volume 4, Issue 1, January-December 2022, vdac080. 84 There is currently no established standard of care for recurrent GBM4
Page 85
• Large amino acid transporters, LAT1 and LAT2 are highly expressed in gliomas1,2 compared to normal tissue • LAT1 is expressed on both luminal and abluminal membranes, playing a key role in BBB permeation2,3 • Pixclara targets LAT1 and LAT2 while TLX101-Tx and TLX102-Tx therapeutic candidates target LAT1 A novel mechanism of action overcoming the blood brain barrier Targeted radiation that provides imaging and therapeutic potential 1. Singh N and Ecker GF. Int J Mol Sci. 2018;19(5):1278. 2. Haining Z, et al. BMC Clin Pathol. 2012;12:4. 3. Ahmed HS. Mol Neurobiol. 2025;62(3):3813-3832. Pixclara TLX101-Tx (131I) TLX102-Tx (211At) Pixclara TLX101-Tx (131I) TLX102-Tx (211At) Blood (luminal) Brain (abluminal) 4F2hc LAT1 C N S-S 85 A potential first-in-class theranostic pairing in neuro-oncology
Page 86
First-in-class, therapeutic candidates in GBM and LMD Competitive de-risked portfolio GBM = glioblastoma, LMD = leptomeningeal disease. 1. Samnick S, et al. J Nucl Med. 2009;50(12):2025-2032. Israel I et al. Nucl Med Biol 2011; 38:451-460. 2. Pichler J, et al. Neurooncol Adv. 2024;6(1):vdaw130. 3. Plus Therapeutics website: https://clinicaltrials.gov/study/NCT05533242 using implanted reservoir. 4. El Ghalbouni 2026. 5. IPAX Linz topline data Leibetseder A, et al. Presented at: EANM; 4-8 Oct 2025. Barcelona, Spain. 6. TLX101- Tx: Pitchler 2024 (IPAX-1), Tolboom N, et al. Eur J Nucl Med Mol Imaging. 2024;51(Suppl 1):1-1026. 7. Watabe T et al Oncotarget 2020; 11(15):1388-1398; Bormann N et al Nuklearmedizin 2013; 52: 212- 221. • Readily passes blood-brain-barrier, a major challenge in GBM treatment1,2 • IV administration vs intracranial administration3 • Outpatient setting (U.S.) improving quality of life • Encouraging safety and tolerability data and compassionate use program4 (TLX101-Tx) • Encouraging preliminary efficacy data5 (TLX101-Tx) • Clinically validated candidates5,6,7 Orphan Drug Designation, ODD in glioma (U.S. & EU) Competitive advantages TLX101-Tx TLX102-Tx Orphan Drug Designation, ODD in glioma (U.S.) 86
Page 87
Prior studies have demonstrated favorable safety profile and encouraging efficacy in malignant gliomas 1. Investigator-initiated trial referring to clinical study report (CSR), 2. Across various trials (IPAX-1, IPAX-Linz, IPAX-2, IPAX BrIGHT) and compassionate use program. 3. Telix media release May 19, 2026. Our strategy is to establish clinical proof in later-line disease before expanding into earlier treatment Demonstrated safety and tolerability profile in combination trials with EBRT and TMZ • IPAX-1 (Phase 1), IPAX Linz1 (Phase 2), IPAX-2 (Phase 1), compassionate use program • Treated ~60 patients to date, including pediatric patients2 • Well tolerated, no DLTs observed in IPAX-23 Demonstrated early efficacy results • Median OS of 23mo. (IPAX-1) and 32.2mo. (IPAX-Linz1) from initial diagnosis • Median OS of 13mo. (from initiation of treatment, IPAX-1) and 11.9mo. (from progression prior to start of treatment, IPAX-Linz1) Ongoing trials • Phase 3 trial, IPAX BrIGHT, in combination with lomustine, first recurrence – dosing patients • Phase 1 trial, IPAX-2, in newly diagnosed patients – completed enrollment, awaiting readout 87
Page 88
1. Europe includes Austria, Belgium, Denmark, France, Germany, Netherlands, Spain where we have regulatory approvals or filings. 2. IND not yet filed. , A global Phase 3 study for TLX101-Tx 88 Data review Conventional MRI and 18F FET PET used for imaging response Eligible Patients Part 2: Randomized treatment expansionPart 1: Dose optimization • Ages ≥18 years • Confirmed recurrent glioblastoma TLX101-Tx + Lomustine Lomustine Clinicaltrials.gov: NCT07100730 Eligibility: recurrent GBM (WHO 2021), 18 years+ Status: Study open to enrollment in Austria, Australia, Belgium and Netherlands. Regulatory approval in Denmark, France, Germany, Spain and Singapore. IND filing in U.S. planned next. Global, multi center, prospective, open label study Primary endpoints (Part 1) • Max tolerated dose, MTD and recommended dose for Part 2 Primary endpoint (Part 2) • Overall survival (OS) If combination dose not tolerated, lower either TLX101-Tx dose and/or Lomustine. Mono therapy is an option n = up to 50 Europe Singapore U.S. 1 2 TLX101-Tx (4 GBq) + Lomustine (90 mg/m2) x 3 cycles n = 3 TLX101-Tx (4 GBq) + Lomustine (90 mg/m2) x 3 cycles n = 12 1:1 TM
Page 89
14 patients with recurrent disease • 10 Glioblastoma (GBM) patients • 2 oligodendroglioma patients (WHO G2) • 1 oligodendroglioma patient (WHO G3) • 1 astrocytoma patient (WHO G2) Heavily pretreated patients • all patients received TMZ, 50% received Lomustine, some patients had re-irradiation, re-debulking Disease stage: • 5 at first recurrences • 9 at second+ recurrences Median treatment with TLX101-Tx post diagnoses: 22 months (9mo. - 203 mo.) TLX101-Tx, Compassionate use experience 1. Tolboom N. et al. EANM 2025. 2. El Ghalbouni et al. EANO 2026 / EANM 2026., El Ghalbouni et al. EJNMMI 2025, Tolboom et al, CVIR 2024, El Ghalbouni et al. Manuscript pending submission. UMC Utrecht Real-world data from 14 patients 89
Page 90
Safe and tolerable treatment - Grade 3 adverse events, cerebral edema (1), common for this condition, judged not likely due to TLX101-Tx - No Grade 4 adverse events TLX101-Tx, has demonstrated a favorable safety profile, with stable disease observed Note: Named patient program, UMC Utrecht. MRI RANO Patients Stable disease (SD) 3 of 12 Progressive disease (PD) not confirmed 7 of 12 Progressive disease (PD) confirmed 2 of 12 PET RANO Patients Stable disease (SD) 7 of 7 90 Overall, over 23 patients have been treated globally with TLX101-Tx in compassionate use in Austria, Australia, Germany and New Zealand with no Grade 4 adverse events reported
Page 91
Baseline [18F]FET Case Study 1 GBM, third recurrence (Stupp, re-debulking and Lomustine) Baseline MRI MRI after 2 cycles MR RANO unconfirmed Progressive Disease No [18F]FET performed El Ghalbouni et al. Manuscript pending submission. Patient representative scans – individual results may vary. OS 11.3 months 91
Page 92
Patient with recurrent glioblastoma treated with TLX101-Tx Case study 2: Near complete response Patient • 56 year old male, with progressive, treatment refractory glioblastoma • Inoperable due to its location • Treatment with TLX101-Tx initiated with 2 cycles of 5 GBq with 3 cycles of Lomustine as bridging therapy and 2 cycles of TLX101-Tx 5 GBq Key results • Treatment was well tolerated, with no effects on kidney, liver, or bone marrow functions • Tumor response demonstrated ongoing regression • To date, 31mo since biopsy, 23mo sincestarting treatment with TLX101-Tx, his treatment response is ongoing Ghalbouni et al. EJNMMI. 2026. https://doi.org/10.1007/s00259-025-07742-w. Before After Patient representative scans – individual results may vary. Update: After 33 Months 92
Page 93
Patient representative scans – individual results may vary. Case study 3: Oligodendroglioma Baseline [18F] FET [18F] FET 10 months later After 3x 5 GBq TLX101 Patient • 38-year-old male • Diagnosed 4 years ago • After resection, EBRT+TMZ, PVC and Lomustine • Treatment holiday, due to new seizures Key results • Significant reduction of tumor after 10 months • TLX101-Tx utility is not just limited to glioblastoma 93
Page 94
IPAX-2, Phase 1 study for TLX101-Tx (newly diagnosed GBM) Met Primary endpoint: Max Tolerated Dose (MTD) of 5GBq x 2cycles + SoC achieved Conventional MRI and [18F]FET PET used for imaging Austria Netherlandsn = 12 SoC = Maximal safe resection followed by concomitant EBRT + TMZ and adjuvant TMZ EBRT = external beam radiation therapy, TMZ = temozolomide. 1. Post surgical resection and prior to systemic therapy or radiation therapy for GBM. Clinicaltrials.gov: NCT05450744 Global, multi center, open label, single arm study Primary endpoints • Safety and tolerability • Max tolerated dose and recommended dose Dose escalation TLX101-Tx (4 GBq) x2 cycles + SoC TLX101-Tx (3 GBq) x 2 cycles + SoC TLX101-Tx (5 GBq) x2 cycles + SoC Eligibility: newly diagnosed glioblastoma patients1 Status: Study completed Results: no dose limiting toxicities observed at maximum dose of (5 GBq) x 2 cycles within DLT window (63 days) Next steps: data supports advancement into Phase 2 study 94
Page 95
TLX102-Tx 211 At
Page 96
I-APACHE – FIH Study of TLX102-Tx in recurrent GBM Intra-arterial TLX102-Tx (211At) Phase 1 dose escalation in [18F]FET positive first recurrence GBM An Investigator Lead Trial (led by Dr. Braat) - Phase 1 Dose Escalation trial Funding support provided by KWF (Dutch Cancer Society) 211At can be easily imaged compared to other α-emitters (SPECT phantom of 211At) 96
Page 97
Rapidly progressive and uniformly fatal condition: Unmet medical need in Leptomeningeal Disease (LMD) A rapidly progressive disease with limited treatment options Severe neurological morbidity: Limited and poorly effective treatment options: Biological and anatomical barriers to effective therapy: Median survival estimated at 3.8- 5.4 months for LMD from breast cancer, 3-8.7 months for LMD from lung cancer, and ~5.2 months for LMD from melanoma Leptomeningeal disease is an aggressive complication of cancer with a median survival typically measured in weeks to a few months, even with available interventions Diffuse involvement of the leptomeninges leads to multifocal neurological deficits including cognitive decline, cranial nerve dysfunction, seizures, and loss of functional independence Current approaches (intrathecal chemotherapy, focal radiotherapy, or systemic therapy) provide modest and transient benefit, are often poorly tolerated, and rarely achieve durable disease control The blood–CSF barrier, diffuse tumor spread, and microscopic disease burden limit drug delivery and therapeutic efficacy, highlighting the need for targeted, CNS-penetrant treatment strategies 97
Page 98
Leptomeningeal disease – LAT-1 expression confirmed with [18F]-FET 4th recurrence PXA in 16 year old girl with leptomeningeal spread ? Patient representative scans – individual results may vary. 98
Page 99
Pixclara Mr. Kevin Richardson CEO, Precision Medicine
Page 100
100 MAA = Marketing authorization application. EANM = European Association of Nuclear Medicine. EANO = European Association of Neuro-Oncology. RANO = Response Assessment in Neuro-Oncology. SNMMI = Society of Nuclear Medicine and Molecular Imaging. 1. Launch and brand names subject to final regulatory approval. 2. ASX release July 20, 2026. 3. Telix ASX disclosure September 14, 2026. 4. Telix ASX disclosure October 6, 2020. • Pixlumi ®1 MAA accepted in Europe • Included in National Comprehensive Cancer Network (NCCN®) guidelines • Inclusion in International guidelines: EANM/EANO/RANO/SNMMI • Expanding into new indication: brain metastases2 • Addresses high unmet need – helps to differentiate tumor progression vs. treatment effects3 • Granted orphan drug designation4 First-in-class imaging agent approved for glioma1 First FDA approved imaging agent for gliomas (U.S.)
Page 101
Pixclara positioned for successful launch Insights based Shoreline Research, Awareness trial and utilization report, January 2026. Key Market Insights ~70% of physicians surveyed indicated they are ready to prescribe Pixclara upon FDA approval ~80% of referrers rely on NCCN guidelines when ordering imaging for glioma >90% availability of PET scanners in-house Majority of referrers rank high differential uptake in glioma and high image quality as the most important features of a PET radio tracer Strong existing awareness of Pixclara among prescribers 101
Page 102
21,200 Scans (11k patients) Characterization of Progression in Glioma Patients $106M 16,800 Scans (16k patients) Radiation Planning in adult Glioma Patients $84M 100,000 Scans (49k patients) Characterization of Brain Metastasis $500M 8,100 Second line recurrent IDH-wild type glioblastoma $1.2B 10,910 First-line IDH-wild type glioblastoma $1.6B $3.5B opportunity in Neuro-Oncology U.S. TAM (Patients) Target Indication USD $ Therapeutics Precision Medicine Source: Datamonitor, Clarivate, internal estimates. Total Addressable Market (TAM) for Precision Medicine uses $5,000/scan for modelling purposes. Therapeutics candidates are using $150,000/treatment based on commercial benchmarks/Datamonitor. These price points do not reflect the actual price charged or the price that Telix will charge in the future. Note: Intended for investor audience only. The FDA has approved Pixclara for use in positron emission tomography (PET) to differentiate recurrent or progressive glioma from treatment-related change, in conjunction with other diagnostic evaluations, in adults and pediatric patients 1 month of age and older. Not intended to advertise or promote this indication, or any other use or indication. $3.5B 102
Page 103
Dr. David N. Cade Group Chief Medical Officer, CMO TLX400-Tx
Page 104
• FAP present on more than 90% of epithelial cancers, identified as a potential target for molecular imaging and therapy • Broad expression on tumor stroma across solid tumors (including pancreatic, colorectal, breast, bladder) suggests pan- tumor potential • In certain cancers (e.g., sarcoma, ovarian, pancreatic) FAP also expressed on cell surface, potentially enhancing efficacy • Not expressed in most normal adult tissues TLX400-Tx- Broad FAP expression supports pan-cancer potential Source: Kratochwil et al. J Nucl Med. 2019. 104 Payload: 177Lu T1/2: 6.7 days 68Ga-TLX400 imaging agent After treatment with TLX400-Tx (4 cycles) Patient representative scan – individual results may vary. TLX400-Tx
Page 105
Dataset: Clinical data available in patients across multiple cancer types Safety: Treatment is well tolerated even in late- stage patients with poor prognosis Low Normal Organ Uptake: Dosimetry data7 shows low normal organ uptake which enables the administration of higher radiation doses than most competitor products Efficacy: • Encouraging tumor responses (>50% disease control rate across multiple tumor types) • Encouraging overall survival (OS) and progression free survival (PFS) that compare favorably to existing standard of care treatments in earlier stage patients TLX400-Tx: High level of clinical confidence Clinical benefit reported across multiple indications and in treatment refractory patients Cancer Patients (#) Median OS/PFS Tumour Response RR-Thyroid Cancer1 15 OS PFS CR PR SD N/A NR NR 0% 27% 20% 53% Medullary Thyroid2 19 OS PFS CR PR SD PD 42 mo 26 mo 0% 33% 47% 20% RAI-R Follicular Thyroid carcinoma (FTC)3,5 73 OS PFS CR PR SD PD 32 mo 29 mo 0% (0/36) 50% (18/36) 25% (9/36) 25% (9/36) Breast4,6 19 OS PFS CR PR SD PD 12 mo 8.5 mo 0% 25% 37% 37% Sarcoma8 10 OS PFS CR PR SD PD 7 mo 6 mo 0% 20% 40% 40% NR = Not reached, CR = Complete response, PR = Partial response, SD = Stable disease, PD = Progressive disease 1. Ballal et al., Thyroid, 2022. 2. S. Ballal, ICPO Theranostics Summit 2024 & Ballal et al., EJNMMI 2026. 3. Ballal et al, Thyroid 2025. 4. Yadav et al, 2023 EJNMMI. 5. Molecular response using [68Ga]Ga- DOTA.SA.FAPi was assessed in 36 of the 73 patients. 6. Molecular response using [68Ga]Ga-DOTA.SA.FAPi was assessed in 16 of the 19 patients. 7. Kurth el a., SNMMI 2024 Poster No. 242022. 8. Ballal et al., J. Nuc. Med. 2025. 105
Page 106
TLX400-Tx, Case study in breast cancer 54-year-old breast cancer patient treated with TLX400-Tx after multiple lines of prior therapy1 106 1. Source: Yadav et al. Eur J Nucl Med Mol Imaging. 2024. Significant reduction in disease burden Clinical data Patient Patient representative images, individual results may vary. Baseline scan Follow up scan post 4 cycles of TLX400-Tx Follow up scan post 5 cycles of TLX400-Tx Imaging: FDG FAP FDG FAP FAP
Page 107
TLX400-Tx, in 19 patients with thyroid cancer1 107 1. Ballal S., Priyanka G.B., Yadav M.P. et al. Longterm outcomes in medullary thyroid cancer patients treated with [177Lu] Lu-DOTAGA.FAPi dimer therapy. EJNMMI Res (2026). 2. Adapted from Sanjana Ballal, ICPO Theranostics Summit 2024 using RECIST 1.1. 3. Radiological and molecular imaging response was assessed in 15 out of 19 patients, as four patients did not have follow-up imaging available for evaluation. Patient representative images, individual results may vary. Feb 2022 Oct 2022 May 2023 May 2024 Partial Response in patient treated with TLX400-Tx2 Eligibility: FAP positive medullary thyroid cancer (MTC) Treatment: ¹⁷⁷Lu LuDOTAGA.Glu.(FAPi)₂ or ²²⁵Ac-DOTAGA.Glu.(FAPi)₂, receiving a median of 5 cycles Imaging: FDG FAP FAP FAP FAP Outcome Result Medullary thyroid cancer (total) 19 patients Assessable for radiological response3 15 patients Partial response (PR) 5 patients (33%) Stable disease (SD) 7 patients (47%) Progressive disease (PD) 3 patients (20%) Disease control rate (DCR) 80% Median PFS 26 months Median OS 42 months
Page 108
Mr. Richard Valeix CEO, Therapeutics TLX66-Tx TLX300-Tx
Page 109
TLX66-Tx: Investigator Initiated Trial FDA and EMA Orphan Drug Designation granted forTLX66-Tx for bone marrow conditioning. 1. ClinicalTrials.org: NCT0485621. Payload: 90Y T1/2: 2.66 days TLX66-Tx, 90Y-DTPA-besilesomab Targeting molecule / target: Monoclonal Antibody / CD66 Mechanism of Action • 90Y-DTPA-besilesomab binds myeloid precursors expressing CD66 in the marrow • Mid-to-long range beta crossfire ablates the adjacent stem-cell niche • May directly contribute to anti-tumor activity Potential indication(s) Bone marrow conditioning for HSCT; priority indication: alloHSCT in high risk acute myeloid leukemia (AML) patients Value to patients Targeted conditioning with TLX66-Tx will enable myeloablation for HSCT without high intensity chemo (HIC) regimen Strategic ambition Replace HIC as the standard conditioning regimen across HSCT – from high-risk AML to non-malignant and non-oncology indications Ongoing IIT clinical activities Phase 2 Investigator Initiated Trial in pediatric high-risk leukemia at Great Ormond Street Hospital in London, UK 109
Page 110
TLX66-Tx has been tested in >90 patients (including pediatric patients) across a range of hematological malignancies. Completed studies include: • Phase 1: Dose-escalation study in hematological malignancies (n=55 pts) • Phase 1: Study in pediatric relapsed/refractory leukemia (n=9 pts) • Phase 2: A randomized Ph2 study in multiple myeloma (n=24 pts) Safety • TLX66 was well tolerated in adult patients across multiple haematological malignancies, with no detectable non-hematological toxicities (eg mucositis/colitis) • In pediatric patients (aged 4 – 16 years), TLX66-Tx was well-tolerated with no serious toxicities Efficacy • All patients engrafted • Encouraging increases in relapse free and overall survival were observed relative to historical data. Overall survival >10 years was seen in most adult patients1 Extensive clinical data in >90 patients across multiple malignancies Excellent safety profile and encouraging long-term efficacy signals 1. Orchard EBMT Presentation 2026. Encouraging long-term survival in high-risk AML, MM, CML and B-ALL patients (OS >10 years in most patients)1 110
Page 111
Name: ZOLAR imaging study Description: Evaluate the safety, pharmacokinetics, biodistribution and dosimetry of 89Zr-labelled- olaratumab Phase: 1 (dosimetry) Primary endpoints: • Adverse events (AEs), /Serious Adverse events (SAEs) • Evaluate uptake of 89Zr- labelled-olaratumab within tumors and normal organs Clinical Trial Olaratumab TLX300-Tx: Program overview ClinicalTrials.gov ID: NCT06537596 1. Telix ASX disclosure April 11, 2022. 2. Tap W.D., Jones R.L., Van Tine B.A., et al. Olaratumab plus doxorubicin versus doxorubicin alone for treatment of soft-tissue sarcoma: an open-label phase 1b and randomized phase 2 trial. Lancet. 2016. Targeting molecule / target: • Antibody (olaratumab)/ • Platelet-derived Growth Factor Receptor alpha (PDGFRα) Potential indication(s) Advanced metastatic Soft Tissue Sarcoma (STS), other PDGFRα expressing tumors Clinical experience • Olaratumab was in-licensed from Eli Lilly and Company with exclusive rights to develop as a radiopharmaceutical1 • 657 STS patients have been treated with olaratumab (across Ph 1b/2 and Ph 3 trials). Clinical safety profile was favorable2 TLX300-Tx 89Zr (imaging isotope) 111
Page 112
Dr. Christian Behrenbruch Managing Director and Group CEO Closing Remarks
Page 113
A proven leader in Radiopharma innovation and execution 1. Subject to close of transaction, the transaction with ITM is expected to close in FY2026 subject to Telix Shareholder approval, regulatory approvals, and other customary closing conditions. ~$1B Estimated 2026 sales 3 Approved products on market 22 countries Illuccix available 4 Pivotal trials near readout Diversified, de-risked pipeline • PSMA, CAIX, LAT1 and FAP targets • New targets in GEP-NETs,1 lung and other areas • R&D platform leading next- generation targeting Vertically integrated leadership • Established a vertically integrated radiopharma industry leader • World-class radioisotope production secures supply at scale • Global footprint supporting commercial delivery worldwide Transformational growth engine • Transactions and partnerships accelerating entry into therapeutics • Proven ability to advance assets from development to regulatory approval • Radiopharmaceuticals positioned to transform standards of care Proven commercial execution, a deep and diversified pipeline and integrated supply — positioned to lead the next decade of radiopharmaceuticals 113