Clinuvel Pharmaceuticals : Lapse and Forfeit of Unlisted Conditional Performance Rights

Company Announcement

ASX:

CUVNasdaq International Designation: CLVLYXETRA-DAX:

UR9

Lapse and Forfeit of Unlisted Conditional Performance Rights

Melbourne, Australia 08 July 2020

CLINUVEL PHARMACEUTICALS LTD wishes to advise in accordance with the terms and conditions of issue that the following unquoted performance rights have lapsed and forfeited:

Class	Number	Exercise price
CUVAK Conditional Performance Rights subject to various performance milestones, issued various dates	14,375	$Nil

Consequently, there are now 138,333 unlisted conditional performance rights on issue.

- End -

About CLINUVEL PHARMACEUTICALS LIMITED

CLINUVEL PHARMACEUTICALS LTD (ASX: CUV; NASDAQ INTERNATIONAL DESIGNATION ADR: CLVLY; XETRA-DAX: UR9) is a global biopharmaceutical company focused on developing and delivering treatments for patients with a range of severe genetic and skin disorders. As pioneers in photomedicine and understanding of the interaction of light and human biology, CLINUVEL's research and development has led to innovative treatments for patient populations with a clinical need for photoprotection, repigmentation and genetic defects. These patient groups range in size from 5,000 to 45 million worldwide. CLINUVEL's lead compound, SCENESSE® (afamelanotide 16mg), was approved by the European Commission in 2014 and by the Food and Drug Administration (FDA) in 2019 for the prevention of phototoxicity (anaphylactoid reactions and burns) in adult patients with erythropoietic protoporphyria (EPP). More information on EPP can be found athttp://www.epp.care.Headquartered in Melbourne, Australia, CLINUVEL has operations in Europe, Singapore and the USA. For more information, please go tohttp://www.clinuvel.com.

SCENESSE® is a registered trademark of CLINUVEL PHARMACEUTICALS LTD.

Head of Investor Relations

Mr Malcolm Bull, CLINUVEL PHARMACEUTICALS LTD

Approved for release by the Managing Director and Company Secretary

Investor enquirieshttps://www.clinuvel.com/investors/contact-us

Forward-Looking Statements

This release contains forwards-looking statements, which reflect the current beliefs and expectations of CLINUVEL's management. Statements may involve a number of known and unknown risks that could cause our future results, performance or achievements to differ significantly from those expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our ability to develop and commercialise pharmaceutical products, the COVID-19 pandemic affecting the supply chain for a protracted period of time, including our abilityto develop, manufacture, market, distribute and sell biopharmaceutical products; competition for our products, especially

SCENESSE® (afamelanotide 16mg); our ability to achieve expected safety and efficacy results through our innovative R&D efforts;, the effectiveness of our patents and other protections for innovative products, particularly in view of national and regional variations in patent laws; our potential exposure to product liability claims to the extent not covered by insurance; increased government scrutiny in either Australia, the U.S., Europe, China and Japan of our agreements with third parties and suppliers; our exposure to currency fluctuations and restrictions as well as credit risks; the effects of reforms in healthcare regulation and pharmaceutical pricing and reimbursement; that the Company may incur unexpected delays in the outsourced manufacturing of SCENESSE® which may lead to it being unable to supply its commercial markets and/or clinical trial programs; any failures to comply with any government payment system (i.e. Medicare) reporting and payment obligations; uncertainties surrounding the legislative and regulatory pathways for the registration and approval of biotechnology based products; decisions by regulatory authorities regarding approval of our products as well as their decisions regarding label claims; any failure to retain or attract key personnel and managerial talent; the impact of broader change within the pharmaceutical industry and related industries; potential changes to tax liabilities or legislation; environmental risks; risks of viral infections, pandemics and slowdown of the supply chain; and other factors that have been discussed in our 2019 Annual Report. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation, outside of those required under applicable laws or relevant listing rules of the Australian Securities Exchange, to update or revise any forward looking statement, whether as a result of new information, future events or otherwise. More information on the forecasts is available on request. Past performance is not an indicator of future performance.

www.clinuvel.com

Level 11 T [phone] Bourke Street F [phone]

Melbourne

Victoria, Australia, 3000