Clinuvel Pharmaceuticals : Appendix 4E and Preliminary Financial Report

ANNUAL RESULTS

Financial Year Ending 30 June 2021

CLINUVEL PHARMACEUTICALS LTD - Consolidated Entity - A.B.N. 88 089 644 119

CLINUVEL PHARMACEUTICALS LTD	A.B.N. 88 089 644 119

1.	Reporting period:	1 July 2020 to 30 June 2021.
	Previous corresponding period:	1 July 2019 to 30 June 2020.
2.	Results for announcement to the market.	Percentage change to 2020		Amount (AUD)
	2.1	Revenues from ordinary activities.	Increased 47%	To	47,975,583
	2.2	Profit from ordinary activities after tax attributable to members.	Profit has increased 64%	To	24,728,247
	2.3	Net profit for the period attributable to members.	Profit has increased 64%	To	24,728,247

1. 1. An unfranked final dividend of $0.025 per ordinary share has been declared.
   2. Record date for determining entitlements for the final dividend: 03 September 2021.
   3. Refer to the Review of Operations and Financial Condition in the Directors Report to the Attachment to Appendix 4E for a brief explanation of the figures reported above.
2. Refer to the Attachment to Appendix 4E for the Statement of Profit or Loss and Other Comprehensive Income together with notes to the statement.
3. Refer to the Attachment to Appendix 4E for the Statement of Financial Position together with notes to the statement.
4. Refer to the Attachment to Appendix 4E for the Statement of Cash Flows together with notes to the statement.
5. Refer to the Attachment to Appendix 4E for the Statement of Changes in Equity together with notes to the statement.
6. The Directors have declared an unfranked final dividend of $0.025 per ordinary share to be paid on 17 September 2021.
7. No dividend reinvestment plan.

9.	Net Tangible Assets per Security for	Net Tangible Assets per Security for
	Year Ended 30 June 2021: $1.911.	Year Ended 30 June 2020: $1.351 (restated)

1. The control of entities which had control gained or lost: N/A
2. N/A
3. No other significant information.

13. Foreign entities:	Australian Accounting Standards used
	CLINUVEL, INC. (USA)
	CLINUVEL (UK) LTD (UK)
	CLINUVEL AG (Switzerland)
	CLINUVEL SINGAPORE PTE LTD (Singapore)
	VALLAURIX PTE LTD (Singapore)
	CLINUVEL EUROPE LIMITED (Ireland)
	VALLAURIX MC SARL (Monaco)

14. COMMENTARY OF RESULTS: Commentary in respect of the financial results is provided in the Review of Operations and Financial Condition to the attached Directors' Report.

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CLINUVEL PHARMACEUTICALS LTD - Consolidated Entity - A.B.N. 88 089 644 119

Contents
Directors' Report (including Remuneration Report).......................................................................	4
Consolidated Statement of Profit or Loss and Other Comprehensive Income ...........................	54
Consolidated Statement of Financial Position ............................................................................	55
Consolidated Statement of Cash Flows .....................................................................................	56
Consolidated Statement of Changes in Equity ............................................................................	57
Notes To the Financial Statements .............................................................................................	58
Directors' Declaration ..................................................................................................................	88
Independent Auditor's Report......................................................................................................	89
Auditor's Independence Declaration............................................................................................	92

CLINUVEL PHARMACEUTICALS LTD is the parent company of the CLINUVEL group of companies. In this report, unless otherwise stated, references to "CLINUVEL", "the Group", "the Company", "we", "our" and "us" refer to CLINUVEL PHARMACEUTICALS LTD and its controlled entities. In this report, references to the financial year refer to the period 1 July to 30 June unless otherwise stated, references to FY2021 refer to the period 1 July to 30 June 2021, references to FY2020 refer to the period 1 July to 30 June 2020.

All dollar figures are expressed in Australian dollars, unless otherwise stated.

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CLINUVEL PHARMACEUTICALS LTD - Consolidated Entity - A.B.N. 88 089 644 119

Directors' Report

The Directors of the Board present their report on the Company for the financial year ended 30 June 2021 and the Auditor's Independence Declaration thereon.

WILLEM BLIJDORP

Non-Executive Director, Chair since 30 November 2019, Funda

Appointed 21 January 2015

Committee Membership

Chair of the Remuneration Committee

Chair of the Nomination Committee

Member of the Audit and Risk Committee

Current Directorships and Other Interests

Director of the Supervisory Board of the B&S Group (The Netherlands)

Other Listed Company Directorships (last 3 years)

None

Relevant Interest in Shares

and Performance Rights

Shares 1,743,118

Performance Rights -

Relevant Skills

• entrepreneurship, commercial prowess
• general management
• financial management
• experienced in listed company Directorships

Background

Mr Blijdorp is an internationally recognised entrepreneur who has helped build the B&S Group, one of the largest global trading houses, in a period spanning three decades. Mr Blijdorp has led B&S's growth, with the Dutch group focused on specialty distribution services to difficult to serve markets. The B&S Group has global reach and is a leader in its market sector.

Formerly B&S Group's CEO, Mr Blijdorp now serves on its Supervisory Board and is a majority shareholder, focussing on the Group's development and expansion strategy. He led and oversaw the Group's initial public offering on Euronext Amsterdam in March 2018.

In 2014 Mr Blijdorp was recognised for his expertise in mergers and acquisitions and commercial leadership as the Ernst & Young Entrepreneur of the Year in the Netherlands, and runner-up in its European Union awards.

Since becoming a director of CLINUVEL in 2015, Mr Blijdorp has provided a valuable contribution to setting the Group's long-term strategy for product commercialisation, growth, and plans to further diversify CLINUVEL.

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CLINUVEL PHARMACEUTICALS LTD - Consolidated Entity - A.B.N. 88 089 644 119

PHILIPPE WOLGEN

Chief Executive Officer, MBA, MD

Appointed to Board 1 October 2005, appointed Chief Executive Officer 28 November 2005

Committee Membership

None

Current Directorships and Other Interests

None

Other Listed Company Directorships (last 3 years)

None

Relevant Interest in Shares

and Performance Rights

Shares 3,175,321 Performance Rights 1,513,750

Relevant Skills

• pharmaceutical R&D, commercialisation
• clinical expertise
• commercial & entrepreneurial outlook
• executive management, corporate turnarounds
• finance and capital markets
• experienced in listed company Directorships

Background

Under Dr Wolgen's leadership since late 2005, a long- term strategy for CLINUVEL was devised. The lead product SCENESSE® (afamelanotide 16mg) was reformulated, its medical application identified, European marketing authorisation was obtained in 2014 and distributed in the European Economic Area from June 2016. Dr Wolgen oversaw the submission of the scientific dossier to the US Food & Drug Administration (FDA) under a New Drug Application, which was approved in October 2019. First treatment of US patients commenced in April 2020. SCENESSE® is the first melanocortin drug to have completed a clinical trial program and obtain marketing authorisation in two major markets.

Dr Wolgen has been instrumental in the Company's corporate turnaround, rebuilding a share register of long-term professional and institutional investors. He led CLINUVEL to attract more than AU$110 million in investments, and his international contacts and network contribute to the strategic support CLINUVEL enjoys globally.

Under his tenure a business model was adopted to develop and launch SCENESSE®, guiding the Group through a complex pharmaceutical product development program. His overall business execution and exact financial management is viewed as exemplary within the life sciences industry and the funding strategy he led is considered unique within the sector.

Dr Wolgen is currently leading the Group's expansion, with an immediate focus on the US and the further development of the product pipeline for various market segments. His focus has been to establish a professional management team to execute the corporate objectives set and prepare next generation of managers. Dr Wolgen's long track record speaks to a strongly focussed, competitive and conscientious professional who is known to persevere in meeting challenging business objectives. He holds an MBA from Columbia University, NY. Trained as a craniofacial surgeon, Dr Wolgen obtained his MD from the University of Utrecht, the Netherlands.

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