Announcement PDF ASX Announcement Quarterly Cash Flow Statement & Operational Highlights Highlights: • AUD $5.3 million R&D Tax Incentive Rebate received from the Australian Taxation Office for FY2025 • Further collaboration with U.S. Army progressing well with 2nd Cooperative Research and Development Agreement signed with the U.S. Army Institute of Surgical Research to advance RECCE® 327 Gel for Burn Wounds • Brazil Patent Granted for RECCE® Anti-Infectives with patent portfolio protecting Recce’s technology in key markets to 2041 • Key Opinion Leader Investor Webinar hosted featuring updates on Phase 3 Clinical Trial for Diabetic Foot Infections in Indonesia and U.S. Department of War burn wound program • Indonesia Phase 3 clinical trial dosing continues with market approval expected 2026 SYDNEY, Australia, 30 April 2026: Recce Pharmaceuticals Ltd (ASX:RCE, FSE:R9Q) (Recce or the Company), a leading developer of a New Class of Synthetic Anti-Infectives, today released its Q3 FY2026 results and operational highlights. Operational Highlights Second Cooperative Research and Development Agreement (CRADA) Signed with the U.S. Army Institute of Surgical Research (USAISR) to Advance RECCE® 327 Gel for Burn Wounds Recce announced it had entered into a CRADA with the USAISR – the U.S. Army’s leader in Combat Casualty Research and Burn Care – to evaluate RECCE® 327 Gel (R327G) for burn wound infections. USAISR, located at Joint Base San Antonio-Fort Sam Houston, Texas, will evaluate R327G in their validated Walker-Mason rat model of burn wound infection, a model developed to mimic battlefield injuries and study systemic responses to burns and subsequent infections. The study will assess whether R327G can significantly reduce bacterial burden in infected burn wounds, specifically targeting Methicillin-Resistant Staphylococcus aureus (MRSA) and Pseudomonas aeruginosa – two major pathogens frequently isolated from burn patients. R327G, a broad-spectrum synthetic anti-infective, is being developed as a next-generation amorphous gel wound dressing, offering practical utility for frontline deployment in military field kits as well as potential application in clinical settings and post-operative care. With no loss of efficacy upon repeated use and minimal risk of development of bacterial resistance, R327G represents a novel approach in burn wound and trauma infection management. This agreement builds on Recce’s first CRADA with the United States Army Medical Research Institute of Infectious Diseases (USAMRIID), reinforcing the Company’s expanding collaboration with the U.S. Government in advancing next-generation anti-infectives. Together with Recce’s USD $2.0 million CDMRP grant award, this second CRADA demonstrates accelerating U.S. Government interest in R327 across multiple operational and therapeutic applications. The CRADA will automatically expire on 30 September 2028 unless otherwise agreed between the parties. The CRADA is limited to a collaborative research agreement and does not involve direct commercial revenues, milestone payments, or funding commitments from USAISR to the Company. The agreement is considered material due to its strategic significance, despite the absence of quantifiable financial impact. It provides access to a world-leading U.S. military research facility specialising in combat casualty and burn care, enabling independent preclinical evaluation of R327G in a validated burn wound infection model. Positive outcomes may support future regulatory submissions, partnering discussions and commercialisation of R327G as a hydrogel wound dressing, influencing the long-term commercial value of the Company's anti-infective pipeline, particularly its Department of Defense programs and clinical burn care applications The agreement includes standard research collaboration provisions relating to the conduct of the study, intellectual property and data rights and termination. RECCE® Anti-Infectives Patent Granted in Brazil The Brazilian National Institute of Industrial Property (INPI) granted a Family 4 patent for Recce’s Anti-Infectives, with expiry in 2041. This is the Company’s seventh Family 4 patent, alongside Australia, Canada, China, Hong Kong, Israel and Japan, with further Patent Cooperation Treaty (PCT) submissions in respective stages of review or allowed. Across all patent families, the Company’s intellectual property portfolio now spans 15 jurisdictions globally. The Brazilian Patent claims relate to R327 and RECCE® 529 (R529), covering the process for preparation of RECCE® anti-infectives and the use of R327/R529 for the treatment of diseases – particularly bacterial and viral infections. The patent further strengthens RECCE® anti-infectives intellectual property to be used in Acute Bacterial Skin and Skin Structure Infections (ABSSSI), Diabetic Foot Infections (DFI), Burn Wounds, Lung Infections (including Ventilator-Associated Pneumonia/Hospital-Acquired Pneumonia), Urinary Tract Infections, Gonorrhoea, Influenza and SARS-CoV-2. Administration routes covered include oral, inhalation, transdermal delivery, injection, aerosol, gel, topical foam or ointment. Brazil represents one of the world’s largest antibiotic markets and the largest in South America. The Brazilian antibiotics market generated revenue of USD $774.5 million (approximately AUD $1.09 billion) in 2024 and is expected to reach USD $964.3 million (approximately AUD $1.36 billion) by 2033, growing at a CAGR of 2.5% from 2025 to 2033. Recce’s intellectual property portfolio is focused on protection in leading antibiotic markets, and this granted patent further supports the Company’s regional commercial strategy. Filed Patent Family 1 Expiry Patent Family 2 Expiry Patent Family 3 Expiry Patent Family 4 Expiry Australia ✓ 2028 ✓ 2037 ✓ 2037 ✓ 2041 USA ✓ 2029 ✓ 2037 ✓ 2037 Pending Europe ✓ 2028 ✓ 2037 ✓ 2037 Pending Germany ✓ 2028 ✓ 2037 ✓ 2037 Spain ✓ 2028 ✓ 2037 ✓ 2037 France ✓ 2029 ✓ 2037 ✓ 2037 UK ✓ 2028 ✓ 2037 ✓ 2037 Italy ✓ 2028 ✓ 2037 ✓ 2037 Sweden ✓ 2028 ✓ 2037 ✓ 2037 Japan ✓ 2028 ✓ 2037 ✓ 2037 ✓ 2041 China ✓ 2028 ✓ 2037 ✓ 2037 ✓ 2041 HK Pending 2028 Pending 2037 ✓ 2037 ✓ 2041 Israel ✓ 2041 Canada ✓ 2041 Brazil ✓ 2041 Key Opinion Leader Webinar – Clinical and Operational Presentation Recce hosted a live webinar via Zoom, featuring presentations from experts and clinical partners across key program areas. Topics covered included the Company’s Registrational Phase 3 Clinical Trial for Diabetic Foot Infections in Indonesia, the U.S. Department of War burn wound program, and updates on Recce’s broader anti-infective portfolio spanning both clinical and pre-clinical programs. A full recording of the webinar is available here. Indonesian Registrational Phase III Clinical Trial – Continued Dosing Recce is actively dosing patients in its Registrational Phase III Clinical Trial for Diabetic Foot Infections (DFI) with five clinical study sites currently activated across Indonesia. Patient dosing is well underway with an approvable interim data readout at 155 patients and overall enrolment of up to 310 DFI patients, randomised to receive either R327G or placebo. Upon receiving a positive data read out, a submission for accelerated approval will be pursued with a potential commercial launch available in 2026. Financial Update The Company ended the quarter with a cash balance of AUD $1.7 million (before expected overseas R&D rebate). Net cash inflows from operating activities in Q3 2026 were AUD $1.6 million, with Research and Development (AUD $2.7 million) being the largest item of expenditure supporting ongoing human clinical trials, and the advancement of pre-clinical studies. Payments to related parties (Executive & Director fees) were AUD $0.7 million. AUD $5.3 million R&D Tax Incentive Rebate received from the Australian Taxation Office for FY2025 – Additional AUD $3.5 million Expected to be received in the coming weeks The Company announced a cash refund of AUD $5.3 million Research and Development (R&D) Tax Incentive rebate from the Australian Taxation Office for the financial year ending 30 June 2025. The AUD $5.3 million reflects R&D activities undertaken locally and overseas, provided to the Company in cash, without caveat. The Australian Government’s 43.5% R&D Tax Incentive rebate, supports Australian innovation, providing expanded benefit to the Company by allowing it to capture 43.5% of the Company’s R&D applicable activities, undertaken anywhere in the world. The Company expects a further cash refund of approximately AUD $3.5 million, which would complete the Company’s FY25 R&D rebate and provide additional non-dilutive funding. Looking Ahead The receipt of the AUD $5.3 million R&D rebate this quarter and the expected further AUD $3.5 million provides meaningful non-dilutive funding to support the accelerated delivery of Recce’s clinical and commercial objectives. Key value-driving programs advancing in parallel include the Registrational Phase 3 clinical trial in Indonesia for R327G, the U.S. Department of War burn wound program under two active CRADAs, and the Company’s growing intellectual property portfolio across global markets. In line with this, the Company continues multiple licensing negotiations in support of its late-stage clinical assets and multi-country market opportunity for unmet medical needs of large patient populations. Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Name of entity Recce Pharmaceuticals Ltd ABN Quarter ended (“current quarter”) 73 124 849 065 Mar 2026 Consolidated statement of cash flows Current quarter Year to date (9 months) 1. Cash flows from operating activities - - 1.1 Receipts from customers 1.2 Payments for - (2,665,924) - (10,108,465) (a) research and development (b) product manufacturing and operating costs - - (c) advertising and marketing (151,013) (461,846) (d) leased assets - - (e) staff costs (697,867) (2,187,132) (f) administration and corporate costs (469,865) (1,158,170) 1.3 Dividends received (see note 3) - - 1.4 Interest received 49,876 78,704 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives 5,478,230 5,696,039 1.8 Other 96,332 291,332 1.9 Net cash from / (used in) operating activities 1,639,769 (7,849,538) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) businesses - - (c) property, plant and equipment (34,695) (61,685) (d) investments - - (e) intellectual property - - (f) other non-current assets - - Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter Year to date (9 months) 2.2 Proceeds from disposal of: - - (a) entities (b) businesses - - (c) property, plant and equipment - - (d) investments - - (e) intellectual property - - (f) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) (143) 152,830 2.6 Net cash from / (used in) investing activities (34,838) 91,145 3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - (2,603) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings (339,004) (1,082,481) 3.8 Dividends paid - - 3.9 Other (provide details if material) - - 3.10 Net cash from / (used in) financing activities (339,004) (1,085,084) 4. Net increase / (decrease) in cash and cash equivalents for the period 424,591 10,533,995 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 1,639,769 (7,849,538) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (34,838) 91,145 4.4 Net cash from / (used in) financing activities (item 3.10 above) (339,004) (1,085,084) Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter Year to date (9 months) 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 1,690,518 1,690,518 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter Previous quarter 5.1 Bank balances 1,690,518 424,591 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other – Trust Account - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 1,690,518 424,591 6. Payments to related parties of the entity and their associates Current quarter 6.1 Aggregate amount of payments to related parties and their associates included in item 1 676,925 6.2 Aggregate amount of payments to related parties and their associates included in item 2 Nil Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end Amount drawn at quarter end 7.1 Loan facilities 30,550,000 11,488,425 7.2 Credit standby arrangements Nil Nil 7.3 Other (please specify) 2,002,500 150,000 7.4 Total financing facilities 32,552,500 11,638,425 7.5 Unused financing facilities available at quarter end 20,914,075 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Loan The loan is from Avenue Venture Opportunity Fund II L.P. For full details, interest rate, maturity date and security, refer to ASX Announcement dated 17 June 2025. Other The Company entered into an At-the-Market Subscription Agreement (“ATM”) (also referred to as a Controlled Placement Agreement) in November 2018 with Acuity Capital (see previous announcements on 1 November 2018, 15 February 2019, 30 August 2019, 11 September 2019, 31 July 2020 and 30 January 2023). The ATM has an expiry date of 31 January 2031. To date the Company has utilised the ATM to raise a total of $150,000. The remaining standby equity capital available under the ATM is currently 4.5m shares which has been marked to market in this cash flow report as $2,002,500. There is no guarantee that the Company will be able to execute a utilisation under the Agreement, which is subject to, for example, market conditions and the prevailing share price. The Company retains control of all aspects of the placement process. There are no requirements on the Company to utilise the facility and it may terminate the Agreement at any time, without cost or penalty. 8. Estimated cash available for future operating activities 8.1 Net cash from / (used in) operating activities (item 1.9) 1,639,769 8.2 Cash and cash equivalents at quarter end (item 4.6) 1,690,518 8.3 Unused finance facilities available at quarter end (item 7.5) 20,914,075 8.4 Total available funding (item 8.2 + item 8.3) 22,604,593 8.5 Estimated quarters of funding available (item 8.4 divided by item 8.1) 13.78 Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: ................................................................................... Authorised by: ................................................................................... (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. 30/04/2026 The Board