PYC Therapeutics : 2021 AGM Chairman's Address and CEO Presentation

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18 November, 2021

2021 AGM Chairman's Address and CEO Presentation

PYC Therapeutics (ASX:PYC) (PYC or the Company) submits the following Chairman's Address and CEO Presentation to be made at the 2021 Annual General Meeting being held today at The Harry Perkins Institute of Medical Research, at 9am AWST.

This ASX announcement was approved and authorised for release by the Board of PYC Therapeutics Limited.

About PYC Therapeutics

PYC Therapeutics (ASX: PYC) is a development-stage biotechnology company pioneering a new generation of RNA therapeutics that utilize Cell Penetrating Peptides (CPPs), a revolutionary delivery technology designed to overcome the major challenges of current gene-based therapies. PYC believes its CPP technology provides safer, more effective access for a wide range of potent and precise drug cargoes to the highest value drug targets that exist inside cells. The Company is leveraging its leading-edge science to develop a pipeline of novel therapies with an initial focus on inherited eye diseases for which it has unveiled three preclinical stage assets. PYC's discovery and laboratory operations are located in Australia and the Company recently launched an expansion into the U.S. for its preclinical, clinical, regulatory and business development operations. For more information, visit pyctx.com, or follow us on LinkedInand Twitter.

Forward looking statements

Any forward-looking statements in this ASX announcement have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans, expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside the Company's control. Important factors that could cause actual results to differ materially from assumptions or expectations expressed or implied in this ASX announcement include known and unknown risks. Because actual results could differ materially to assumptions made and the Company's current intentions, plans, expectations and beliefs about the future, you are urged to view all forward-looking statements contained in this ASX announcement with caution. The Company undertakes no obligation to publicly update any forward-looking statement whether as a result of new information, future events or otherwise.

This ASX announcement should not be relied on as a recommendation or forecast by the Company. Nothing in this ASX announcement should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

CONTACTS:

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CHAIRMANS ADDRESS

It's been another year of significant progress for the Company. You will hear later from the CEO, Rohan Hockings, details of the most recent exciting results and the plans for the future. In my view these results mark a major milestone in the development of the Company.

At this important time, I think it is worth reflecting on where the Company has come from to set the context of where we are going to.

In broad terms, developments to-date have progressed along the following lines:

• Approximately 3 years ago PYC's principal asset was its drug delivery platform based upon Cell Penetrating Peptides. At that time the issue for the Company was, whilst it had drug delivery capability, it had no drugs to deliver.
• An important strategic decision led to PYC commencing the development of drugs in- house.
• A decision was made to focus on eye diseases as this is considered to be the target most appropriate for a company the size of PYC, with limited resources.
• The Company then expanded by recruiting a team with drug development capabilities led by Sue Fletcher.
• Based upon RNA technology a pipeline of drugs has been developed all targeted in the eye. Of these, three should offer treatment for disorders for which there is currently none. All of these drugs currently use the same baseline technology and this confers significant advantages in advancing their progress. For example, the most recent results are relevant to all of those drug candidates.
• This pipeline of drugs will now move steadily towards clinical trials in humans and then ultimately release for the benefit of patients.
• However, it is important to remember that the drug delivery platform has the potential for a much wider range of applications. Some of these are being studied in- house such as the Central Nervous System and the kidney. There is also considerable opportunity for PYC to work with other organisations that have developed drugs which could benefit from this delivery technology.

Today we are at a point where both the drug delivery platform and the first of its drug candidates - a treatment for Retinitis Pigmentosa 11 - have been validated in trials in non- human primates. The next step after completion of GLP studies is to submit an application to the US Food and Drug Administration (FDA) for approval to commence clinical trials in humans.

[phone] | pyctx.com | ACN 098 391 961

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The validation of the drug delivery platform has significance not only for the in-house drugs being developed but also for collaboration with other organisations within the pharmaceutical sector. Discussions will continue to progress with parties who show interest in this technology.

Drug development takes time and there are no short-cuts. PYC has diligently continued to develop both its drug delivery platform and its pipeline of drug candidates over the past year. But the prospect of being able to bring drugs to market, especially for patients who have no treatment available today, is a major achievement. Providing remedies to those sufferers who need them will also lead the Company to future growth and commercial success.

This year the PYC team has expanded through the opening of an office in the US. I would like to acknowledge the hard work of my talented colleagues both in Australia and the US who have achieved so much this year. This relatively small team has delivered remarkable results through considerable effort and dedication.

As in previous years I look forward with optimism to continued progress by the Company on its path in to in-human clinical trials and beyond.

Alan Tribe - Chairman - PYC Therapeutics Limited

[phone] | pyctx.com | ACN 098 391 961

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Life-changing

science

Annual General Meeting

November 2021

Disclaimer

onlyThe purpose of this presentation is to provide an update of the business of PYC Therapeutics Limited (ASX:PYC) ['PYC']. These slides have been prepared as a presentation aid only and the information they contain may require further explanation and/or clarification. Accordingly, these slides and the information they contain should be read in conjunction with past and future announcements made by PYC and should not be relied upon as an independent source of information. Please contact PYC and/or refer to the Company's website for further information.

useThe views expressed in this presentation contain information derived from publicly available sources that have not been

ind pendently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information.

Any forward looking statements in this presentation have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans, expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside PYC's control. Important factors that could cause actual results to differ materially

from assumptions or expectations expressed or implied in this presentation include known and unknown risks. Because actual ersonalresults could differ materially to assumptions made and PYC's current intentions, plans, expectations and beliefs about the

future, you are urged to view all forward looking statements contained in this presentation with caution.

This presentation should not be relied on as a recommendation or forecast by PYC. Nothing in this presentation should be c nstrued as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

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