Recce Pharmaceuticals is developing a new class of synthetic anti-infectives targeting antibiotic-resistant superbugs, with its lead candidate recognised by the World Health Organization as one of the most advanced new antibiotic classes in over 40 years. With Phase III trials underway and commercial licensing discussions progressing, the Company is approaching a series of major clinical and commercial milestones.

The equity raising will consist of an institutional placement to raise up to approximately A$6.0 million by issuing up to 15.0 million New Shares at A$0.40 per New Share. The Company reserves the right to accept oversubscriptions.

The Placement is not underwritten.

Following completion of the Placement, the Company intends to offer a Share Purchase Plan to raise up to an additional A$4.0 million.

Discount

The offer price represents a discount of:

• 13.0% to Recce’s last closing price on 23 June 2026 of A$0.46;
• 19.4% to the 10-day volume weighted average price (“VWAP”) of A$0.497 per share as at 23 June 2026

Options

New Shares issued under the Placement and SPP will receive 1 unlisted free attaching option for every 2 New Shares issued with an exercise price of A$0.60 and will expire on 30 June 2027.

Upon exercise of every 1 Attaching Option, each holder will receive 2 unlisted piggyback options, which is exercisable at an exercise price of A$1.00 each and has an expiry date of 30 June 2028.

Recce Pharmaceuticals Ltd is developing a new class of synthetic anti-infectives with the potential to overcome antibiotic-resistant superbugs – the challenge of all antibiotics to date.

Recce has a diversified pipeline across three therapeutic candidates (with >40 granted patents across major pharmaceutical markets out to 2041):

• RECCE® 327 (R327): IV and topical therapy targeting serious Gram-positive and Gram-negative bacterial infections, including their superbug forms;
• RECCE® 435: Oral therapy for bacterial infections; and
• RECCE® 529: Antiviral therapy for emerging viral pathogens Recce’s lead drug candidate is RECCE® 327 is recognized by the World Health Organization as one of the world’s most clinically advanced new classes of antibiotics - the first in over 40 years.

Recce is one of the only ASX-listed pharmaceutical companies in Phase III clinical trials, presenting significant market and potential revenue catalysts over the next 12 months

• Novel antibiotic platform: Developing a proprietary new class of synthetic anti-infectives designed to combat antibiotic-resistant superbugs and emerging viral pathogens, addressing a major global healthcare challenge.
• WHO-recognised lead candidate: RECCE® 327 has been recognised by the World Health Organization as one of the world's most clinically advanced new classes of antibiotics and the first new class in more than 40 years.
• Commercial licensing pathway emerging: Signed a 10 year non-binding term sheet with a leading Middle Eastern pharmaceutical company for the potential commercialisation and distribution of R327G across multiple countries.
• Approaching key Phase III catalysts: Currently conducting a registrational Phase III trial for Diabetic Foot Infections in Indonesia, with interim data expected in Q3 CY2026 and potential regulatory submissions to follow.
• Near-term revenue opportunity: Positive Phase III outcomes could support commercialisation in Indonesia and the broader Middle East and North Africa (MENA) region, targeting large diabetic patient populations.
• Large addressable markets: Exposure to a global Diabetic Foot Infection treatment market estimated at US$5.8 billion, alongside broader anti-infective market opportunities estimated at over US$135 billion.
• Potential ASEAN expansion: Regulatory approval in Indonesia may provide a pathway into the wider ASEAN region, representing a population of approximately 680 million people.
• Third-party validation from the US Army: Ongoing research partnerships with the U.S. Army Institute of Surgical Research support the development of RECCE® 327 for burn wound and biodefence applications.
• Rare ASX biotech at Phase III stage: One of only a small number of ASX-listed pharmaceutical companies currently undertaking Phase III clinical trials, with multiple clinical, regulatory and commercial catalysts expected over the next 12 months.