Cyclopharm Limited · ASX:CYC
Cyclopharm — Shareholder Meeting (May 2026)
38 slides from Cyclopharm's shareholder meeting presentation, May 8, 2026
Slide 1: 2026 Annual General Meeting
For personal use only 2026 Annual General Meeting
Slide 2: Safe Harbour Statement
Certain views expressed here contain information derived from publicly available sources that have not been independently verified. The presentation includes certain statements, estimates and projections with respect to the anticipated future financial performance of Cyclopharm Limited and as to the
Slide 3: Welcome
For personal use only WELCOME Mr David Heaney 3
Slide 4: Chairman's Address
For personal use only CHAIRMAN’S ADDRESS Mr David Heaney 4
Slide 5: Australian innovation entering a new era of Nuclear Pulmonology driven by AI
Australian innovation entering a new era of For personal use only Nuclear Pulmonolgy driven by AI Technegas systems are available now in 67 countries. Direct distribution in 17 countries. Over 5.0 million patient procedures to date US Market – Early stage entry Leveraging global infrastructure with
Slide 6: Managing Director's Address
For personal use only MANAGING DIRECTOR’S ADDRESS Mr James McBrayer 6
Slide 7: 2025 Full Year Financial Results
For personal use only 2025 Full Year Financial Results
Slide 8: Record Revenue – USA Acceleration – Balance Sheet Strengthened
Record Revenue – USA Acceleration – Balance Sheet Strengthened For personal use only TECHNEGAS® USA RECORD 3RD PARTY GLOBAL TECHNEGAS REVENUE DISTRIBUTION Revenue Revenue $32.3M $16.7M $2.7M $15.6M +17% vs PY +26% vs PY up from $27.6m +10% vs PY +226% vs PY Strong consumables growth up from $15.2m u
Slide 9: An established global nuclear medicine company
An established global nuclear medicine company For personal use only Cyclopharm 2025 Trading Highlights Cyclopharm operating revenue over time $AUD •USA now the #1 top sales country millions Technegas Third party sales •USA install & training and technology 35.0 ® access fees a fast-growing segment
Slide 10: Understanding Third Party Products
For personal use only Understanding Third Party Products
Slide 11: Leveraging our Sales, Service & Regulatory Footprint in our Direct Markets
Leveraging our Sales, Service & Regulatory Footprint in our Direct Markets For personal use only Third-Party Products comprise the following components Direct sales and Service in 17 Consumables and Equipment Sales SUPPORT out of 67 approved markets Radiopharmaceuticals Hotcells for Radiopharmaceuti
Slide 12: Understanding Technegas
For personal use only Understanding Technegas
Slide 13: Clinically validated outcomes in detecting Pulmonary Embolism
Proven clinically validated outcomes in detecting Pulmonary Embolism (PE) as For personal use only measured by sensitivity, specificity, accuracy & NPV Exponentially lower radiation than a single CTPA scan Growing Beyond PE publications leading to 50 nm $1 Billion market opportunity supported by bro
Slide 14: Unique Drug + Device + Service combination = regulatory barrier to entry
Unique Drug + Device + Service combination = regulatory barrier to entry For personal use only Technegas comprises the following components SYSTEM PER PATIENT CONSUMABLES SUPPORT USFDA Drug-Device TECHNEGAS PLUS SYSTEM TECHNEGAS ® SYSTEM PACK Combination product Technegas (Crucible) Technegas® Train
Slide 15: Technegas USA Expansion
For personal use only Technegas USA Expansion
Slide 16: Potential applications across the entire field of respiratory medicine
Potential applications across the entire field of respiratory medicine For personal use only Technegas (kit for the preparation of technetium Tc99m labeled carbon inhalation aerosol) for oral inhalation use – NDA 022335 ------------------USFDA APPROVED INDICATIONS AND USAGE------------------- TECHNE
Slide 17: Reimbursement Data – Driving our Ground Game
Reimbursement Data – Driving our Ground Game For personal use only 5,139 Sites performing Lung Imaging CMS Data: Extracted from the Center for Medicare and Medicare (CMS) to include referring physician and primary Nuclear medicine physician Indication for Use Visibility: ability to discern between d
Slide 18: Placement Model to Expedite Revenue Generation
Placement Model to Expedite Revenue Generation For personal use only Targeting 2,000 of the 8,000 US nuclear US$7k one-off installation and medicine departments. 250-300 total installations training fee targeted during the second half 2026. System Placement model supports rapid US$7k p.a. technology
Slide 19: Shareholder Summary
Shareholder Summary Updated 30 April 2026 Foundation Established – Pipeline Growing For personal use only 5,139 ~30% 55 330 47% Total US lung imaging sites Market engaged (primary + affiliated) 55 Revenue-generating Installations +7 Contracted locations (IDN/GPO/VA) Of installations have expansion ‘
Slide 20: Blue Sky Beyond PE
For personal use only Blue Sky Beyond PE:
Slide 21: Evolution of Ventilation Imaging
Evolution of Ventilation Imaging PLANAR SPECT SPECT/CT SPECT/CT Future Quantification A.I.2023 For personal use only Applications 1986 21 Lobar distribution of ventilation AI reaching to segmental and subsegmental level analysis leading to chronic condition management and Treatable Trait identificat
Slide 22: Clinical trials already underway
Clinical trials already underway For personal use only *Including PE applications. On a long-term basis. 1. Roach PJ, et al. J Nucl Med 2013; 54: 1588-1596 10. Bajc M, et al.. Int J Chron Obstruct Pulm Dis 2017; 12: 1579- 17. Tee, et al; Intrevent Pulmonology; 2021, DOI 2. Ohira H, et al. J Nucl Car
Slide 23: Beyond PE — Clinical Expansion Strategy
Beyond PE — Clinical Expansion Strategy Expanding into an addressable market beyond pulmonary embolism For personal use only > US $1 Billion CTEPH COPD Asthma Lung Cancer ACTIVE TRIAL RESEARCH RESEARCH PRIORITY Chronic Obstructive Bronchial Asthma Pre-surgical Lung Chronic Thromboembolic Pulmonary D
Slide 24: Technegas - the ventilation imaging agent of choice
Technegas - the ventilation imaging agent of choice in established (and new) markets For personal use only Introduction: International Guidelines Key Deliverables: “Lung scintigraphy is a fundamental diagnostic Endorses the US transition from Planar to procedure employed in evaluating a range of SPE
Slide 25: Best-in-Class Global Technology
1 Best-in-Class Global Technology US Clinical Locations For personal use only Updated US guidelines featuring 2 Technegas expected to accelerate adoption Broad USFDA Indication → Growing 3 Respiratory Medicine Applications Every installation generates 4 revenue 5 47% of installation growth is from e
Slide 26: Outlook Cyclopharm
For personal use only Outlook Cyclopharm
Slide 27: Outlook: Technegas Total US Revenue Generating Installations Targeted Second Half 2026
Outlook: 250 - 300 Technegas Total US Revenue Generating Installations Targeted Second Half 2026 For personal use only Profitable and First in Class USA Growth Accelerating Recurring Revenue Technegas Product Growing MedTech Established Nuclear Set to quadruple the size From single patient expansion
Slide 28: Formal Business
For personal use only FORMAL BUSINESS Mr David Heaney 28
Slide 29: 2026 AGM – Formal Business
2026 AGM – Formal Business Resolutions For personal use only 1 Remuneration Report 2 Re-election of Director - Professor Gregory King 3 Approval of prior issue of Tranche 1 Placement Shares 4 Approval of agreement to issue Tranche 2 Placement Shares 5 Approval of the provision of loan to the Managin
Slide 30: Resolution 1: Remuneration Report
CYC AGM 2026 Resolutions 1b “That the Remuneration Report as set out in the Annual Report of the Company for the financial For personal use only year ended 31 December 2025 be adopted.” Resolution For Against Discretionary Exclusions Abstain Remuneration Report 81,043,461 42,273 36,215 2,902,240 148
Slide 31: Resolution 2: Re-election of Professor Gregory King
CYC AGM 2026 Resolutions 2 “That, for the purposes of ASX Listing Rule 14.4 and for all other purposes, Professor Gregory For personal use only King, who retires at the close of this Annual General Meeting and, being eligible, and having consented to act, be re-elected as a Director of the Company.”
Slide 32: Resolution 3: Prior issue of Tranche 1 Placement Shares
CYC AGM 2026 Resolutions 3 “That for the purposes of Listing Rule 7.4 and for all other purposes, shareholders ratify the issue For personal use only of 9,473,684 fully paid ordinary shares at an issue price of A$0.95 (Tranche 1 Placement Shares) on the terms and conditions set out in the Explanator
Slide 33: Resolution 4: Tranche 2 Placement Shares
CYC AGM 2026 Resolutions 4 “That for the purposes of ASX Listing Rule 7.4 and for all other purposes, shareholders ratify the For personal use only agreement to issue 5,263,158 fully paid ordinary shares at an issue price of A$0.95 (Tranche 2 Placement Shares) under a placement on the terms and cond
Slide 34: Resolution 5: Loan to Managing Director
CYC AGM 2026 Resolutions 5 “That, for the purposes of ASX Listing Rules 10.14 and for all other purposes, approval be and For personal use only is hereby given to Company providing Mr James McBrayer the Share Plan Loan and varying the terms of the holding locks over Loan Plan Shares to Mr James McBr
Slide 35: Resolution 6: Proportional takeover provisions
CYC AGM 2026 Resolutions 6 “That, for the purposes of sections 136(2) and 648G of the Corporations Act, the proportional For personal use only takeover provisions in rule 164 of the Constitution be and are hereby adopted for the three- year period from 8 May 2026 up to and including 8 May 2029.” Res
Slide 36: 2026 AGM – Proxy Summary
2026 AGM – Proxy Summary Resolution For Against Discretionary Exclusions Abstain 1. Remuneration Report 81,043,461 42,273 36,215 2,902,240 148,498 For personal use only 2. Re-election of Director - Professor Gregory King 56,411,614 51,929 27,583,211 - 126,498 3. Approval of prior issue of Tranche 1
Slide 37: Thank You
For personal use only THANK YOU 37
Slide 38: Questions
For personal use only Questions