#1CLARITY PHARMACEUTICALS Investor Presentation Developing the next-generation of radiopharmaceuticals to improve treatment outcomes for children and adults with cancer Dr Alan Taylor, Executive Chairman Dr Colin Biggin, Managing Director, CEO 27 May 2022#2Disclaimer Introduction This presentation has been prepared by Clarity Pharmaceuticals Ltd (ACN 143 005 341) (Clarity or the Company) and contains summary information about Clarity and the business conducted by it as at 27 May 2022. The information in this presentation is for general informational purposes only, does not purport to be complete or comprise all information which a shareholder or potential investor may require in order to determine whether to deal in Clarity shares. It should be read in conjunction with the Company's IPO prospectus and other periodic and continuous disclosure announcements lodged with the ASX. 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Although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and the opinions expressed are fair and reasonable, none of Clarity, nor its advisers (Advisers) nor their respective affiliates, related bodies corporate (as defined in the Act) or securityholders and their respective directors, officers, employees, partners, representatives, consultants, agents or advisers (each a Limited Party and together, the Limited Parties) make any representation or warranty to, or takes responsibility for, the content of this presentation, and nothing contained in this document is, or may be relied upon as, a promise or representation, whether as to the past or future. 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Clarity recommends that potential investors consult their professional advisors as an investment in Clarity is subject to investment and other known and unknown risks, some of which are beyond the control of Clarity or its directors and therefore any investment is considered to be speculative in nature. Market and industry data and other information Certain market and industry data and other information used in this presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither the Company nor its representatives or its advisers have independently verified, or can assure investors as to the accuracy of, any market or industry data or other information provided by third parties or industry or general publications. 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CLARITY 2014 MILE 2#3Clarity summary Clarity Pharmaceuticals is a clinical stage radiopharmaceutical company developing next-generation products to address the growing need for better diagnostics and treatments in oncology . • Proprietary SAR Technology: a true platform technology that can drive out a range of radiopharmaceuticals Three best-in-class products in clinical development: high accuracy and precision by using the chemically identical product for both diagnosing and treating disease Targeted Copper Theranostics (TCTs) employ copper-64 for diagnosis and imaging and copper-67 for therapy Significant logistical benefits and a scalable, dependable supply Environmental advantages over current isotopes with no reliance on nuclear fuel cycle or long-lived waste products Diagnostic products will be the first to reach the market, generating revenue streams to fund late-stage therapeutic product trials and approvals Highly experienced leadership team 1 ASX code: CU6 2 31 Shares on issue: 257,832,546 Share Price: $0.45/share (at close of 26 May 2022) 4 Market Capitalisation: $116.0M (at close of 26 May 2022) 5 Cash at bank: $95.9M (at 31 Mar 2022) 6 Enterprise value: ~$20.1M (at close of 26 May 2022) • Well funded with $95.9 M in cash (at 31 March 2022 Approximately $5 million R&D refund expected for 2022 CLARITY 2014 MILE 7 Trading range: $0.38-1.71 (52 week) 3#4Radiopharmaceutical sector transactions The radiopharmaceutical market is niche and highly acquisitive Advanced Accelerator Applications ENDOCYTE ALGETA Completed Phase 3 with LutatheraⓇ in Sep 2015, market entry was early 2018 Acquired by Novartis for USD3.9 billion in cash in 2018 Licensed PSMA-617 after Phase 2a for ~USD14 million upfront with additional milestones and royalties. Their market cap. over USD1 billion after FDA meeting and financing to start a Phase 3 trial October 2018, Novartis announced the acquisition of Endocyte for USD2.1 billion Bayer acquired Algeta ASA for USD2.9 billion in 2014 to develop its metastatic prostate-cancer product Xofigo® Curium™ LIFE FORWARD BLUE EARTH DIAGNOSTICS A Bracco Company Progenics Pharmaceuticals IBA Molecular acquired Mallinckrodt's nuclear imaging business for USD690 million in 2017 Syncona completed sale of Blue Earth Diagnostics to Bracco Imaging for $476.3m (£390.2m) in 2019 Acquired by Lantheus Holdings for approximately USD430 million in 2020 CLARITY 2014 ME 4#5Clarity's proprietary SAR Technology platform Theranostic radiopharmaceuticals have four main elements: a radioisotope, cage, linker and targeting ligand and are administered intravenously Tumour Tumour specific receptors Proteins expressed by cancer cells which the radiopharmaceuticals target Radioisotope Copper isotopes used, for example, in Positron Emission Tomography (PET) imaging (64Cu) or therapy (67Cu) Targeting molecule Finds and binds cancer cells in the body Linker Cage "Chelator" that securely holds radioisotopes That connects the cage to the targeting molecule Ⓒ CLARITY PHARMACEUTICALS SAR Technology platform A proprietary, highly specific and highly stable bifunctional cage (chelator) with a superior ability to retain copper isotopes within it and prevent their leakage into the body Unlike the current I generation of | radiopharmaceuticals, SAR products do not I require heating in I order to bind copper I to the cage CLARITY 2014 MEIE 5#6Global leader in Targeted Copper Theranostics Clarity's SAR Technology is used to develop the next generation of radiopharmaceuticals that employ the "perfect pairing" of copper-64 (64Cu) for diagnosis and copper-67 (67Cu) for therapy Diagnostic Positron emission from 64Cu at the tumour site enables better diagnosis through PET imaging Therapeutic Beta particle (B-) emission from 67Cu delivers radiation directly to the cancer cells in order to kill them CLARITY 2014 MEIE 64CU SARTATE™M 64CU SARTATE™M PET screening 4 hours 67CU SARTATE™M SPECT scan 24 hours 67 CU SARTATE™M | | Both diagnostics and therapeutics target the same cancer sites with high accuracy and precision, delivering a key platform advantage 6#7Indication Current trials CLARITY 2014 MEIE Product Three core product areas in clinical trials Clarity has potential to address multiple oncology indications with unmet needs through a range of products and their applications. These include large indications, such as prostate and breast cancers, as well as small and orphan indications, such as neuroendocrine tumours (NETs) and neuroblastoma, an aggressive childhood cancer. SAR-bisPSMA Cancers that express Prostate Specific Membrane Antigen (PSMA) SAR-Bombesin SARTATE™M Cancers that express Gastrin Releasing Peptide Cancers that express Somatostatin Receptor 2 receptor (GRPr) (SSTR2) Prostate Cancer Breast Cancer Neuro- blastoma NETS Theranostic Diagnostic Theranostic Diagnostic Diagnostic Theranostic Diagnostic Each core product can be used as a diagnostic or as a therapy Each product targets a distinct receptor present on the surface of cells of a range of cancers 7#8Targeted clinical development strategy Target the large US market for first product approvals Advance diagnostics to market first Develop products for both rare and large indications with high unmet needs Focus on high quality clinical sites and experienced investigators Position products to maximise opportunity in current treatment paradigms Reinvest revenues to part fund the continued development of the therapeutics US FDA Regulatory Engagement Scope to expand into others leveraging the SAR Technology ✓ Three open Investigational New Drug (IND) to proceed clinical trials in the US ✓ Two Rare Pediatric Disease designations (RPDDs) from the US FDA ✓ Two Orphan Drug Designations (ODDS) from the FDA CLARITY 2014 MILE 8#9Clinical development in multiple cancers Clarity's products are progressing through clinical development in the US and Australia. Clinical development pipeline as of 27 May 2022 Indication Product Application Current Trial Discovery Preclinical Phase I Phase 2 Phase 3 Next Milestone SAR-bisPSMA Theranostic mCRPC SECURE SAR-bisPSMA Diagnostic in pre-radical PROPELLER prostatectomy Prostate Cancer SAR-bisPSMA Diagnostic in BCR PCa COBRA Diagnostic in SAR-BBN BCR PCa SAR-BBN Theranostic SARTATE™M Theranostic CL04 Neuroblastoma SARTATE™M Diagnostic NETS SARTATE™M Diagnostic DISC Pan cancer (GRPr positive tumours) SAR-BBN Diagnostic Undisclosed Undisclosed SAR Discovery Platform Undisclosed Undisclosed CLARITY 2014 MEIE 332 Current progress 12 month progress :: First therapy treatment PROPELLER recruitment complete 50% recruitment in COBRA Open IND for 64Cu SAR- BBN Open IND for 67 CU SAR- BBN Advance to Cohort 3 Open IND for NB diagnostic 50% recruitment in DISCO First patient in GRPr positive tumour Note clinical development pipeline is indicative only, subject to review. All US studies are conducted under IND 9#10Clinical Update#11US prostate cancer in numbers 2nd most common cancer in US men >3.1M living with prostate cancer today in US Currently investigated in our diagnostic strategy in prostate cancer >200,000 Patients in the US diagnosed with localised/regional disease annually2 248,530 new cases of prostate cancer in the US in 20211 -45,000 Patients in the US diagnosed annually with mCRPC CLARITY 2014 ME (1) (2) American Cancer Society. Cancer Facts & Figures 2021. Atlanta: American Cancer Society; 2021. Siegel DA, O'Neil ME, Richards TB, Dowling NF, Weir HK. Prostate Cancer Incidence and Survival, by Stage and Race/Ethnicity - United States, 2001-2017. MMWR Morb Mortal Wkly Rep 2020;69:1473-1480. 1:8 US men will develop prostate cancer in their lifetime 34,130 men will die annually of prostate cancer in the US Currently investigated in our theranostic strategy in mCRPC 11#12Tumor Volume (mm³) SAR-bisPSMA: Pre-clinical data SAR-bisPSMA is ideally suited for a theranostic radiopharmaceutical % IA/g High uptake and retention in tumour 120- ༔ ༔ 30\ 20- 10- Blood Lungs Heart Liver Kidneys Muscle Spleen Tumour Preclinical biodistribution study demonstrating high uptake and retention of I 64CU SAR-bisPSMA in tumours with rapid clearance from non-target organs Zia et al., 2019. Ang.Chem hr 4 hr 24 hrs Significant anti-tumour effect 1200 1000- 800- 600- 400- 200 0- 0 -Vehicle CLARITY 2014 M Rapid kidney clearance of non-bound activity SUV 10 SUV 10 Preclinical efficacy study with increasing activity of 67CU SAR- bisPSMA (colours) demonstrating dose response 10 20 30 40 50 60 70 80 McInnes et al., 2020. JNM Time (d) 7.5 MBq Cu-CuSARbisPSMA 15 MBq Cu-CuSARbisPSMA 30 MBq Cu-CuSARbis PSMA ■15 (1) 15 (15) MB Cu-CuSARbisPSMA 1 hr 24 hr Tumour targeting and superior retention over 24 hours PET images showing 64CU SAR- bisPSMA targeting to tumours over time and rapid kidney clearance 'bisPSMA' The term "bis" is used to denote the presence of two identical but separate complex groups in one molecule High uptake and retention in tumour compared to Pluvicto™M (PSMA-617) 35% % Injected Activity/g tumour 30% 25% 20% 15% 10% 5% 0% T= 1h T= 24h T= 1h T= 24h PSMA-617 SAR-bisPSMA From Benesova et al 2015 From Zia et al 2019 12#13SAR-bisPSMA therapy in prostate cancer SECURE: Systemic Copper theranostics in prostate cancer • Phase I/lla study of 64 Cu/67 Cu SAR-bisPSMA for identification and treatment of PSMA-expressing metastatic castrate resistant prostate cancer (mCRPC) • Principal Investigators: Dr Scott Tagawa/Dr Geoff Johnson Trial design Theranostic multi-centre, single arm, dose escalation study with a cohort expansion planned for up to 44 patients Dosimetry phase (N=6) Dose escalation Dose expansion phase (N=~24) phase (N=14) Status Dosimetry phase with 64CU SAR-bisPSMA in mCRPC completed Dose escalation now open for recruitment Next milestone • First therapy patient treated - estimate June 2022 CLARITY 2014 M SECURE Preliminary imaging results from the dosimetry phase 64CU SAR-bisPSMA PET/CT Comparison of 1h 64CU SAR-bisPSMA PET with 99mTc-MDP Bone Scan 12hr 64CU SAR- bisPSMA PET/CT 1h 64CU SAR- bisPSMA PET 99mTc-MDP WB Bone Scan Fused Sagittal SECURE clinicaltrials.gov identifier: NCT04868604 13#14SAR-bisPSMA therapy in prostate cancer SECURE PET scans in a patient with metastatic castrate-resistant prostate cancer imaged over multiple timepoints between 1 and 72 hours post administration of 64CU SAR-bisPSMA (Normalised Voxel Intensity) CLARITY 2014 MEIE Y Y Y Y Y 1h post injection 12h post injection 24h post injection 48h post injection 72h post injection 14#15SAR-bisPSMA diagnostics Two Phase III trials required for registration in prostate cancer: one in the pre-definitive treatment and one in the biochemical recurrence (BCR) setting. Clarity is expecting to commence these registrational trials in 2023. PROPELLER PROPELLER: PET Imaging of participants with confirmed prostate cancer Compares 64CU SAR-bisPSMA to 68Ga PSMA-11 (Approved in the US and Australia) in participants with untreated prostate cancer who are planned for radical prostatectomy Trial design Phase I multi-centre, blinded review, dose ranging, non-randomised study in 30 patients across Australia. | COBRA COBRA: Copper-64 SAR-bisPSMA in BCR prostate cancer Investigates the safety and tolerability of 64CU-SAR-bisPSMA as well as its ability to correctly detect recurrence of prostate cancer in participants with BCR of prostate cancer following definitive therapy Trial design Phase I/II multi-centre, single arm, non-randomised study in up to 50 patients across the US Status Screening + 68Ga PSMA-11 scan Assignment to dosing cohorts 1-3 64CU SAR- bisPSMA scan Reached 50% recruitment in December 2021 Next milestones Recruitment complete in Q2 2022 Topline data in Q4 2022 CLARITY 2014 M Status Suspected Assessed BCR based on PSA, negative on 64CU SAR- bisPSMA against composite conventional imaging scan (@~1h & 24h) reference standard First patient dosed in April 2022, recruitment ongoing Next milestone • 50% recruitment in Q3 2022 PROPELLER clinicaltrials.gov identifier: (NCT04839367) COBRA clinicaltrials.gov identifier: (NCT05249127) 15#16SAR-bisPSMA diagnostic in untreated, confirmed prostate cancer PROPELLER Comparison of 68 Ga PSMA-11 (image left) to Clarity's 64CU SAR-bisPSMA (image right) in the same patient CLARITY 2014 M 68 Ga PSMA-11 (~200MBq) 64Cu SAR-bisPSMA (~200MBq) Max Mean 6.3458 SUVbw Max Mean 18.5497 SUVbw 2.0077 SUVbw 1.2176 SUVbw Max Min 0.1779 SUVbw Mean Diam 2.6334 cm Max Sl 561 Peak 3.1876 SUVbw Min Diam Max Sl 181 Peak 16.5398 SUVbw 3.5148 SUVbw 0.6203 SUVbw 2.6334 cm Min 0.1464 SUVbw Diam 2.6334 cm Max SL 179 Peak 6.8438 SUVbw 7.283 SUVbw Max 6.4652 SUVbw Mean 2.2353 SUVbw Min 0.7628 SUVbw Diam 2.6334 cm Max Sl 569 Peak 3.6116 SUVbw 68 Ga PSMA-11 (~200MBq, left) vs. 64CU SAR-bisPSMA (~200MBq, right) in the same patient; time between serial imaging was 8 days. Standardised Uptake Value (SUVmax)* of the lesions were 6.5 and 6.3 for 68Ga PSMA-11 and 16.5 and 18.5 for 64Cu SAR-bisPSMA. *SUV is a measurement of product uptake in tissue normalised to a distribution volume 16#17SAR-Bombesin: A pan-cancer target SAR-Bombesin is a highly targeted pan-cancer theranostic radiopharmaceutical being to identify and select patients for subsequent treatment of their cancers that express GRPr SAR-Bombesin GRP is a receptor that is overexpressed in a number of cancers including prostate, breast, colon, gastric, glioma, pancreatic, small cell lung and non-small cell lung cancer, as well as renal cell cancer 64CU SAR-Bombesin is retained in the tumours while quickly clearing from the pancreas in hormone positive metastatic breast cancer • 75%-100% of prostate cancers express GRPr • 83% of estrogen receptor (ER) positive breast cancers express GRPr 64 Cu/67 CU SAR-Bombesin has potential to treat a range of cancers that express GRPr, including breast and prostate cancers 64CU SAR-Bombesin will initially be investigated as a diagnostic imaging agent for PSMA-negative prostate cancer T = 1 hour T = 4 hours T = 24 hours Efficacy of 64CU SAR Bombesin in a mouse model of prostate cancer Tumour Volume (mm*) 2000- 1500- 1000- 500- -5 0 5 10 15 20 25 30 35 40 45 50 time after injection (days) + Control group 67 CU-SAR-Bombesin treated group 67 Cu SAR-Bombesin has demonstrated an anti-tumour effect in preclinical models of prostate cancer, when compared to the control group CLARITY 2014 ME 17#18SAR-Bombesin in prostate cancer Detection of PSMA-negative prostate cancer SAR-Bombesin was able to locate tumours in PSMA-negative prostate cancers that are not visible with approved PSMA diagnostics -10% of prostate cancer patients do not express PSMA PSMA negative prostate cancer patients will not respond to PSMA imaging or therapy 75-100% of prostate cancer patients express GRPr Diagnosis and treatment of these patients with TCTs targeting GRPr opens new possibilities Significant clinical synergies with existing SAR-bisPSMA program for clinical and development and regulatory affairs 68Ga PSMA-11 CLARITY PHARMACEUTICALS 64CU SAR- Bombesin CLARITY 68Ga PSMA-11 CLARITY PHARMACEUTICALS 64CU SAR- Bombesin 68Ga PSMA-11 (top) images of a PSMA-negative patient with clinical signs of prostate cancer (a rising PSA score of 0.16 ng/mL) and 64Cu SAR-Bombesin PET/CT images of the same patient (bottom) 68Ga PSMA-11 (top) image of a PSMA-negative patient with history of prostate cancer (a rising PSA score of 25 ng/mL) and 64Cu SAR-Bombesin PET/CT image of the same patient (bottom) 18#19SAR-Bombesin clinical development ASCO 2022 Annual Meeting Abstract: 3092 | Poster: 82 C-BOBCAT: Results to be published at the 2022 ASCO Annual Meeting in June First-in-human pilot trial assessment of the diagnostic value of 64CU SAR-Bombesin PET/CT imaging for staging of hormone positive breast cancer patients with metastatic disease in comparison with standard of care imaging (CT, bone scan and 18F FDG PET/CT) Study Sponsor: St Vincent's Hospital, Sydney Pl: Prof. Louise Emmett • • Future milestones 64CU SAR-Bombesin diagnostic IND expected 1H 2022 Initial US diagnostic trial in PSMA negative prostate cancer patients to commence 2H 2022 67CU SAR-Bombesin therapy IND to be lodged 2H 2022 C-BOBCAT: One hour post 64CU-SAR-Bombesin administration in a breast cancer patient 18F FDG 64CU SAR-Bombesin A B • Data from the C-BOBCAT trial shows that 64Cu SAR-Bombesin is highly avid with a high tumour volume compared to 18F FDG in some patients Results indicate 64CU SAR-Bombesin may have a role in imaging patients with hormone positive breast cancer, particularly lobular subtype CLARITY 2014 MILE ST VINCENTS HOSPITAL SYDNEY PET/CT PET/CT CT CT PET PET 19#20SARTATE™M - next generation theranostic SARTATE™ is a highly targeted theranostic radiopharmaceutical which is being developed for diagnosing, staging and subsequently treating cancers that express somatostatin receptor 2 (SSTR2) Current clinical development • • 64CU SARTATE™M for the management of neuroblastoma 67 CU SARTATETM for the treatment of neuroblastoma 64CU SARTATE™M for the management of NETS Future opportunities Other SSTR2 positive diseases, including but not limited to pancreatic and gastrointestinal cancer, pulmonary NETs, meningiomas Regulatory milestones Rare Paediatric Disease Designation US FDA Rare Paediatric Disease Designation (RPDD) for: 67 CU SARTATE™M granted (neuroblastoma therapy) 64CU SARTATEM granted (management of neuroblastoma) Orphan Drug Designation US FDA Orphan Drug Designation (ODD) for: 67 CU SARTATE™ granted (neuroblastoma therapy) 64 CU SARTATE™M granted (management of neuroblastoma) RPDDs may potentially allow to access 2 Priority Review Vouchers, which are tradeable and have recently transacted at approximately US$110M CLARITY 2014 M High Accuracy High Precision 123 MIBG 64CU SARTATE™M Current Standard of Care PET screening 4 hours (in the same patient) 67 CU SARTATE™M SPECT scan 24 hours 20#21| SARTATE™M Clinical trials CL04 SARTATE™M CLO4: 67CU-SARTATE™M Peptide Receptor Radionuclide Therapy Administered to Pediatric Patients With High-Risk, Relapsed, Refractory Neuroblastoma 64Cu/67 CU SARTATET Phase I/lla trial in high-risk neuroblastoma in the US with up to 34 patients Trial design Multi-centre, dose-escalation, open label, non-randomised, theranostic clinical trial Status Cohort 1 complete, no safety issues Cohort 2 in the therapy trial in progress Neuroblastoma is one of the most aggressive childhood cancers 800 new cases each year in the US and the most common cancer in infants Neuroblastoma accounts for approximately 13% of paediatric cancer mortalities Approximately 84% of neuroblastomas express SSTR2 DISC DISCO: Diagnostic Imaging Study of Copper-64 SARTATE using PET on patients with known or suspected NETS • Assesses the performance of imaging agent 64CU SARTATE™M in participants with known or suspected gastroenteropancreatic NETs as a potential new way to help diagnose and manage NETS Aims to capture and highlight the significant advantages of the longer half-life (12.7 hours) of copper-64, related to imaging and product supply which are relevant to Clarity's entire pipeline of products in development Trial design ° • Phase II multi-centre, single arm, non-randomised, blinded-review study in up to 63 participants Compares diagnostic performance of 64 CU SARTATETM at 4 and 20 hours to the current standard of care, 68 Ga DOTATATE, at 1 hour Status Currently recruiting at four sites with 64CU SARTATEM manufactured centrally in Australia CLARITY 2014 ME CL04 ClinicalTrials.gov identifier: NCT 04023331 DISCO ClinicalTrials.gov identifier: NCT 04438304 21#22Overcoming Environmental & Supply Challenges#23Enabling universal access to PET imaging with 64Cu The future of PET radioisotope supply is dependable, scalable and customer focused 68Ga and 18F • Regional availability issues Limited scope for future upscaling Un States • Little patient flexibility with 3-12 hour product shelf life • • • No opportunity for delayed imaging timepoints Complicated and resource intensive local production requirements Relatively high external radiation exposure OPEX and CAPEX needed in every market Mexico 64Cu (half-life = 12.7h) Can be mass produced on cyclotrons with solid targetry "An F-18 PET center can provide doses for up to ten medical centers or PET cameras running patients in I parallel"¹ I "Each (Ga-68) generator can only produce a sufficient amount of Ga-68 each day for a limited number of patients"2 CLARITY 2014 ME • · Every US zip code covered from 1 location Patient flexibility with product shelf life of up to 48 hours Operational flexibility with imaging timepoints up to 72 hours Delivered as a ready-to-use cGMP product 9-22 times lower exposure than commonly used 18F products The ability to centralise investments and supply the country 1. MEDray intel, Nuclear Medicine Report and Directory Part 1, Volume 8, 2021 Page 163 2. Krishan Kumar. Cancer Biotherapy and Radiopharmaceuticals.Apr 2020. 163-166 23#24Next generation of therapeutics with 67Cu Eliminating dependency on the limited number of aging nuclear reactors for therapeutic radioisotope supply • • 177LU • Relies on antiquated, unreliable and government subsidised nuclear reactor infrastructure Not easily scalable due to investment requirements for new nuclear reactor construction །* Existing supply chain already strained, with demand soon outstripping supply Supply chain dependence on international shipments Expensive and environmentally unfriendly inputs for production (235U, 176Yb) Long lived 177mLu impurity from c.a. production can create radioactive waste handling issues at sites 67 CU • • Commercially available high powered rhodotron with a small footprint (10' diameter and 11' tall) Scalable with relatively small investments Purpose-built supply in the markets of focus, including a US domestic supply Only inputs are electricity and Zinc No long-lived impurities Exclusive supply agreement with NorthStar Medical Isotopes A single rhodotron can produce commercial quantities of 67Cu CLARITY 2014 MEIE 24#25Targeted Copper Theranostics Clarity's solution to theranostic isotope supply threats • No reactors • No time sensitive international supply chains The environmental considerations of TCT As the number of patient treatments increases, environmental factors will impact the selection of theranostic radiopharmaceuticals Production of 64 Cu and 67 Cu have: 1. favorable environmental characteristics; • No local production requirements Reduce costs Reduced patient safety risk Universal availability Economies of scale from the same manufacturing process • Ability to new products customer facing quickly integrate Centerpiece for a marketing strategy. 2. a relatively small infrastructure footprint; 3. do not use nuclear reactors and enriched uranium; 4. avoid the creation of long-lived radioactive impurities; 5. lack significant radioactive waste disposal issues; and 6. use more readily available target materials which do not employ rare earth elements. These factors will significantly reduce the environmental impact compared to current generation of theranostics based on 68Ga or 177 Lu This is highly relevant considering the forecasted growth of theranostics over the next decade. CLARITY 2014 MEIE 25#26Milestones & Inflection Points#27Significant milestones achieved over last financial year FY2021/22 has been an extraordinary year where Clarity achieved several transformational milestones and advanced the clinical development of our TCT • • • · • 26 May 22 - Dr Neal Shore joins Clarity's Clinical Advisory Board 21 April 2022 - First patient treated in the US-based prostate cancer imaging trial of Cu-64 SAR-bisPSMA 5 April 2022 - Dr Andrei lagaru joins Clarity's Scientific Advisory Board 28 March 2022 - US-based Cu-64 SAR-bisPSMA trial in prostate cancer opens for recruitment 24 March 2022 - New clinical trial collaboration for Cu-64 SAR-bisPSMA in prostate cancer 25 February 2022 - First patient treated in cohort 2 SARTATE™M neuroblastoma therapy trial 7 February 2022 - US FDA Study May Proceed letter for Clarity's Cu-64 SAR-bisPSMA trial in prostate cancer 1 February 2022 - Clarity advances to cohort 2 in the SARTATE™M neuroblastoma trial • • • • • . 2 December 2021 - Clarity and Cardinal Health enter into Agreement for Targeted Copper Theranostics 1 December 2021 - Fifty percent recruitment milestone for PROPELLER prostate cancer trial 26 November 2021 - Clarity strengthens patent protection of SAR-bisPSMA 10 November 2021 - Recruitment for the dosimetry phase of Clarity's Cu-64/Cu-67 SAR-bisPSMA theranostic prostate cancer trial completed 19 October 2021 - Recruitment on C-BOBCAT pilot cancer trial closed for Clarity's SAR-Bombesin product 30 September 2021 - Clarity and Evergreen enter Targeted Copper Theranostics manufacturing agreement for US clinical trials 25 August 2021 - Clarity Pharmaceuticals lists on the ASX 25 August 2021 - First patient treated in Clarity's Cu-64/Cu-67 SAR-bisPSMA theranostic prostate cancer trial 10 August 2021 - First patient treated in Clarity's Cu-64 SAR- bisPSMA prostate cancer trial CLARITY 2014 MEIE 27#28Inflection points over next 12 months Recruitment complete PROPELLER PSMA Dx 1st patient cohort 1 SECURE PSMA TX Recruitment complete COBRA PSMA DX 1st patient imaged BBN DX US Advance to cohort 3 CL04 SARTATE NB Tx Open IND BBN Tx Open IND for SARTATE™M Dx 50% recruitment BBN Dx High activity CU-67 production online Advance to cohort 3 SECURE PSMA TX CLARITY 2014 MEIE Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Open IND BBN Dx 50% recruitment COBRA PSMA DX >50% recruitment DISCO SARTATE NETS Clinical study report PROPELLER PSMA DX Advance to cohort 2 SECURE PSMA TX Recruitment complete DISCO SARTATE NETS Advance to cohort 4 CL04 SARTATE NB Tx * Tx = therapy **Dx diagnostic 28#29Robust IP driving the Discovery program Clarity's proprietary SAR Technology platform can be used in conjunction with any number of targeting ligands to create new products and new IP CLARITY PHARMACEUTICALS Broad Patent Portfolio Discovery Engine Platform Protection Granted and new chelator patents used in further developing lead and back-up products Product Protection " " Maintenance of pending applications for potential continuation or divisional filings (on existing important patents) New patents filed on lead and back-up compounds Pipeline Protection New chelator patents used in future discovery products New patents filed on novel treatment regimes for radiopharmaceutical and imaging applications Manufacturing and process protection " " Manufacturing and formulation patents New patents filed on manufacturing processes CLARITY 2014 M Select high value cancer targets Generate and radiolabel compounds (peptides and/or antibodies) 64Cu imaging in tumour models 眼眼 67 Cu efficacy studies in tumour models SAR Technology platform High value clinical candidates: SARTATE™M, SAR-bisPSMA, SAR-Bombesin, etc. 29#30Clarity Team#31Highly experienced leadership team Clarity's management team has a diverse and in-depth level of expertise spanning corporate finance, management, operations, commercialisation and industry Dr Alan Taylor Executive Chairman Dr Colin Biggin Managing Director, Dr Matt Harris Chief Scientific Officer CEO Michelle Parker Director of Clinical Operations Dr Jennifer Rosenthal Director of Quality and Regulatory Affairs Shaemus Gleason Executive VP, US Operations David Green Chief Financial Officer Dr Taylor has been instrumental in the growth of the Company and has been heavily involved in all areas of the Company's business. Dr Taylor has approximately 15 years of investment banking experience focused predominantly on the life. sciences sector, and has significant expertise in capital raisings, mergers and acquisitions, and general corporate advisory. Prior to joining Clarity, Dr Taylor was an Executive Director of Inteq Limited, a boutique Australian investment bank. Dr Biggin has over 15 years of radiopharmaceutical development and commercialisation experience. Dr Biggin previously served with Algeta ASA during the development and commercialisation of its product Xofigo (radium- 223 dichloride) for metastatic prostate cancer, which was approved by the FDA in 2013. Prior to joining the Company, Dr Biggin also consulted to a range of biotech and large pharmaceutical companies developing radiopharmaceuticals. Dr Harris has approximately 20 years of combined experience in cancer research, nuclear medicine and business and has a PhD in cancer research from the Australian National University. Dr Harris brings expertise in biotechnology. radiopharmaceuticals, academic research and investment to the Company and focuses on developing the technology behind the Company's products. Ms Parker has over 20 years of experience spanning across nuclear medicine/PET and pharmaceutical industries both in Australia and internationally. Prior to joining Clarity, Ms Parker held the position of Head of International Clinical Research Operations at Novartis Australia, a global pharmaceutical company, leading a multi-disciplinary, high performing team of over 35 associates responsible for end-to-end clinical trial execution. Dr Rosenthal has over 20 years of management experience in the biotechnology industry, serving in senior director and executive level roles with an oncology focus. She has successfully developed strategy, and managed teams and projects in the areas of regulatory affairs (agencies include US FDA, EMA and Australian TGA), clinical trials, quality assurance and IP. Prior to joining Clarity, Dr Rosenthal managed the global regulatory team at the previously ASX-listed company Viralytics Limited, which was acquired by Merck & Co for $502 million in 2018. Prior to Viralytics, Jennifer spent 10 years at Alchemia Limited, and at Florigene and Davies Collison Cave Patent and Trademark Attorneys. Mr Gleason has over 13 years of experience spanning across all facets of targeted radionuclide therapies and diagnostic radiopharmaceuticals. Prior to joining the Company, he was a member of the oncology strategy business unit at Bayer/Algeta where he was responsible for the technical operations in their phase I targeted alpha therapy development globally. Prior to this, he held a leadership role on the US commercial organisation supporting a marketed product Xofigo® (radium- 223 dichloride) for metastatic prostate cancer. Mr Green has over 25 years' experience in performing senior finance roles for listed and unlisted companies, including Pacific Dunlop Limited, Sigma Pharmaceuticals, Alchemia Limited, Chiquita Brands South Pacific Limited (now Costa Group) and Ellume Limited. As a proven CFO, he has extensive experience in complex operating environments across multiple geographies, private treaty and public company transactions, treasury operations and debt and equity markets. CLARITY 2014 M 31#32Board of Directors Clarity's board has extensive capital markets, radiopharmaceutical and broader life sciences experience Dr Alan Taylor Executive Chairman Rosanne Robinson Non-Executive Director Dr Chris Roberts Non-Executive Director Dr Thomas Ramdahl Non-Executive Director Dr Gillies O'Bryan-Tear Non-Executive Director Mr Robert Thomas Non-Executive Director Dr Colin Biggin Managing Director Ms Robinson brings extensive experience in the nuclear field and a range of commercial expertise to the Company and has over 25 years of experience in both governance and management roles in public and private companies and government. Ms Robinson is the General Manager of Business Development at Australian Nuclear Science and Technology Organisation. Ms Robinson's in-depth knowledge of the nuclear medicine industry provides the Company with a clear vision across the dynamics of, and most recent changes in, the sector. Dr Roberts has over 40 years of experience in the medical innovation space and has served on the boards of a number of ASX-listed companies during his career. Dr Roberts was previously the CEO of ASX-listed company Cochlear Limited and Chairman of ASX-listed company Sirtex Medical Ltd. Dr Roberts was also Executive Vice-President and a director of the dual-listed (ASX and NYSE) company ResMed Inc., a global sleep disorder treatment company. Dr Roberts is Chairman of the ASX-listed company Oncosil Ltd. Dr Ramdahl is a pharmaceutical executive with over 20 years of clinical and development experience. In 2001, he became President and the first CEO of Algeta ASA. When Dr Ramdahl joined Algeta, he was one of six employees and he played an instrumental role in its success, serving in several senior positions within the company through to and post the acquisition of Algeta by Bayer AG in 2014 for US$2.9 billion. Dr Ramdahl has authored more than 40 publications and is a co- inventor of several patents. Dr Ramdahl serves as Chairman of Precirix (Belgium) and AppSens AS (Norway). Dr O'Bryan-Tear has over 30 years of experience in the pharmaceutical industry in clinical development, medical management and commercial roles. He has held senior leadership roles in large and small pharmaceutical and biotech companies in the US and Europe and has been involved in multiple product approvals. He was previously the Chief Medical Officer of Algeta ASA. Dr O'Bryan-Tear has been an adviser to several US and European biotech companies and is a member of the Scientific Advisory Board of Fusion Pharmaceuticals Inc. (Canada). Mr Thomas has a strong background in financial services and capital markets including advising on the IPOS of the Commonwealth Bank of Australia and Qantas. He is the former CEO of County NatWest Securities and of Citi Corporate and Investment Bank Australasia. Mr Thomas has held the position of Chairman at Australian Wealth Management Ltd, TAL, HeartWare® International Inc, AusBio Ltd, Grahger Retail Securities Pty Ltd and Starpharma Holdings Ltd. He is a non-executive director of Biotron Limited and O'Connell Street Associates. CLARITY 2014 MEIE 32#33Clarity's Advisory Board Clarity's advisory board comprises global thought leaders with extensive capabilities, expertise and experience in developing radiopharmaceuticals Prof Oliver Sartor Prof Richard Wahl Prof Jason Lewis Prof Andreas Kjaer Dr Andrei lagaru Dr Neal Shore Prof Paul Donnelly Medical oncologist and an internationally recognised expert in prostate cancer. He is the Laborde Professor for Cancer Research, Medical Director of the Tulane Cancer Center, and Assistant Dean for Oncology at Tulane University School of Medicine in New Orleans, Louisiana. The Elizabeth Mallinckrodt Professor, Chairman of the Department of Radiology and Director of the Mallinckrodt Institute of Radiology at Washington University School of Medicine in St Louis. The Emily Tow Jackson Chair in Oncology and serves as Vice Chair for Research in the Department of Radiology at Memorial Sloan Kettering Cancer Center (MSK), Chief of MSK's Radiochemistry & Imaging Sciences Service, and Director of MSK's Radiochemistry and Molecular Imaging Probe Core Facility. A professor at the University of Copenhagen and a chief physician at the Department of Clinical Physiology, Nuclear Medicine & PET at Rigshospitalet, the National University Hospital of Denmark. Dr lagaru is an award- winning Professor of Radiology Nuclear Medicine and the Chief of the Division of Nuclear Medicine and Molecular Imaging at Stanford University. His research focus includes PET/MRI and PET/CT imaging for early cancer detection as well as peptide- based diagnostic imaging and therapy. Dr Shore MD, FACS is the Chief Medical Officer of Urology/Surgical Oncology at GenesisCare, US and the Medical Director of Carolina Urologic Research Centre. He has conducted more than 400 clinical trials with a particular focus on GU oncology indications and is an internationally recognised expert and researcher in systemic therapies for patients with advanced urologic cancers. The Clarity Group leader of the Donnelly Research Group, The University of Melbourne, based in the state-of-art laboratories of the Bio21 Institute of Molecular Science and Biotechnology. CLARITY 2014 MEIE 33#34Summary Global leader in Targeted Copper Theranostics (TCT) Extensive pipeline of TCTs based on 64Cu for diagnosis and 67Cu for therapy ■ TCTs address the current manufacturing and logistical limitations in the growth of radiopharmaceuticals ■ TCT are scalable, sustainable and dependable Broad and defensible IP portfolio of patent families across the SAR Technology platform, pipeline and products Pipeline includes large and orphan indications, with focus on the US for first approvals Well funded with $95.9M in cash Led by an experienced management team and Board with significant years of active involvement in the radiopharmaceutical industry Hot sector of the market with numerous recent acquisitions. CLARITY 2014 MEIE 64CU SAR-bisPSMA PET/CT in mCRPC 34#35Thank you Contact details Dr Alan Taylor Executive Chairman E: [email protected] Dr Colin Biggin Managing Director E: [email protected]