Announcement PDF ASX Announcement Funding Update Sydney, Australia, 23 November 2018: Recce Pharmaceuticals Ltd (ASX: RCE) (Company), the company developing a new class of synthetic antibiotics, today announced it had received an advance payment from Radium Capital (Radium) against future research and development tax incentive funds. The agreement with Radium, as originally announced to the ASX on 13 September 2018 (Agreement), sees of the Company receive payment of A$256,000, representing up to 80 per cent of anticipated R&D Refund resulting from expenditure on R&D programs during the last quarter. Fees payable to Radium include a small upfront fee, plus a reduced 1.16 per cent per month carry rate on funds received, by way of offset against R&D refunds. The funds will be used to advance the Company’s antibiotic development program. The Agreement avoids diluting current shareholders, while confirming cashflows against R&D applicable expenditure. The Company will repay the funds once received from the Australian Government. Radium supports private and listed companies by paying R&D refunds in advance at a minimal cost. About Recce Pharmaceuticals Ltd Recce Pharmaceuticals Ltd (ASX: RCE) is pioneering the development and commercialisation of a new class of synthetic antibiotics with broad spectrum activity designed to address the urgent global health problem of antibiotic resistant superbugs. Its patented lead candidate known as RECCE® 327 has been developed for the treatment of blood infections and sepsis derived from E. coli and S. aureus bacteria – including their superbug forms. Pre-clinical testing in laboratories and animal models, in Australia and overseas has demonstrated positive results. Recce has a manufacturing facility in Australia and is developing clinical research partners in the USA. The Company has developed an automated process to manufacture its lead compound ahead of first-in-human clinical trials. For further information please visit www.recce.com.au or contact: Investor Relations James Graham Executive Director Recce Pharmaceuticals Ltd Tel: +61 (02) 8075 4585 Media (Australia) Andrew Geddes CityPR Tel: +61 (02) 9267 4511 Media (International) Sue Charles/Gemma Harris Instinctif Partners Tel: +44 (0)20 7866 7860 E: recce@instinctif.com