Slide 1: H1 2025 Results
H1 2025 Results Telix Pharmaceuticals ASX: TLX | NASDAQ: TLX 21 August 2025
Slide 2: Disclaimer
Disclaimer This presentation should be read together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX) and the U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our webs
Slide 3: Introduction
Introduction Kyahn Williamson SVP Investor Relations and Corporate Communications 3
Slide 4: Presenters Agenda
Presenters Agenda 1 H1 2025 overview 2 Financial results Kyahn Williamson Christian Behrenbruch Darren Smith SVP Investor Relations and Corporate Communications Managing Director and Group CEO Group Chief Financial Officer 3 Key pillars of value creation 4 Precision Medicine update 5 Therapeutics pi
Slide 5: A diversified, vertically-integrated radiopharma business
A diversified, vertically-integrated radiopharma business Telix has undergone a rapid transformation Two FDA-approved PSMA-PET agents: Illuccix® and Gozellix® Illuccix® approved in 23 countries Deep theranostic pipeline 38 manufacturing and distribution sites globally Specialist in-house R&D capabil
Slide 6: H1 2025 Operational highlights
H1 2025 Operational highlights Executing against our strategy for long-term growth and value creation Deliver • ProstACT Global Phase 3 Part 1: Completed target enrollment of 30 patients late-stage • Approval to commence IPAX-BrIGHT pivotal trial in glioblastoma (ex-U.S.) therapeutics Grow • Differe
Slide 7: Financial results
Financial results Darren Smith Group Chief Financial Officer 7
Slide 8: H1 2025 Financial results summary
H1 2025 Financial results summary Strong commercial performance enables continued investment for long-term value creation Commercial Group revenue up 63% YoY to $390.4M business delivers Precision Medicine revenue up ~30% YoY, Illuccix® gross margins remain stable at 64%, double-digit EBITDA1 up 24%
Slide 9: H1 2025 revenues increase 63% year-over-year
H1 2025 revenues increase 63% year-over-year Delivering double-digit growth Revenue H1 2025 US$M 63% H1 2025 Illuccix continues to drive strong revenue YoY growth • Increase in U.S. dose volumes, sales of YoY Illuccix the key revenue driver 390.4 • Revenue growth reinforces our market position 79.0
Slide 10: H1 2025 Group profit and loss statement
H1 2025 Group profit and loss statement Reflects strategic investments, including acquisitions, to drive long-term growth H1 2025 % of H1 2024 % of US$M revenue US$M revenue • Gross margin reflects change of product mix to include RLS third-party sales and an Revenue 390.4 239.6 allocation of M&D Co
Slide 11: Business segment: Precision Medicine
Business segment: Precision Medicine EBITDA up by 24%, while investing to optimize commercial performance H1 2025 % of H1 2024 % of US$M revenue US$M revenue • Gross margins remained stable at 64%-65% range YoY Revenue 305.8 236.2 Cost of sales (108.8) (82.4) • S&M increased slightly as a % of reven
Slide 12: Business segment: Telix Manufacturing Solutions (TMS)
Business segment: Telix Manufacturing Solutions (TMS) We have invested in infrastructure to scale operations and support long-term growth RLS1 RLS1 Excl. H1 2025 % of rev H1 2024 RLS US$M US$M • Revenue of $109.5M includes $79.0M of revenues generated by third party PET and SPECT sales and Revenue 1
Slide 13: Cash flow statement
Cash flow statement Driving growth through strategic acquisitions while preserving a disciplined cash position US$M Includes interest expense on Primarily driven by RLS convertible bonds 18 Opening cash 440 Net cash from operating activities (259) 8 Closing cash Net cash used in Net cash used in 207
Slide 14: Capital allocation priorities
Capital allocation priorities Investments aligned to our strategic plan Supply chain resilience Investment in R&D Optimizing commercial Strategic growth and production performance opportunities (M&A) capacity ~$82M total investment $49.0M commercial ~$324M2 across three TMS network H1 2025, includes
Slide 15: 2025 Full year guidance maintained
2025 Full year guidance maintained Our performance to date supports our full year guidance outlook Revenue: $770M to $800M • Guidance reflects revenue from Illuccix® sales in jurisdictions with marketing authorization, and 11 months of revenue contribution from RLS R&D investment • Research & Develo
Slide 16: Key pillars of value creation
Key pillars of value creation Dr. Christian Behrenbruch Managing Director and Group CEO 16
Slide 17: Building competitive advantage
Building competitive advantage We are building a differentiated and holistic radiopharmaceutical ecosystem Commitment to precision Differentiated therapeutic medicine candidates Specialist commercial Next-generation assets and teams and franchise depth Integrated R&D platform Theranostic Approach Se
Slide 18: Value creation: Expansion of our PSMA imaging portfolio
Value creation: Expansion of our PSMA imaging portfolio Leadership through clinical and product innovation DIFFERENTIATE THROUGH INNOVATION EXPAND THE MARKET AlFluor platform technology enables flexible radiolabeling of Potential to significantly grow PSMA-11 with either AlF or LAUNCH GOZELLIX marke
Slide 19: Value creation: Manufacturing expertise and capacity
Value creation: Manufacturing expertise and capacity Investing in scalable manufacturing and distribution capabilities to meet future demand Seneffe, Belgium delivered first GMP grade commercial doses New GMP manufacturing facility in Yokohama, Japan ARTMS QIS® technology, a highly efficient and cos
Slide 20: RLS integration
RLS integration Achieving operational synergies Pathway to margin Last-mile delivery and Supply chain resilience and improvement and increased enhanced U.S. presence production capacity operating leverage • Leveraging nuclear pharmacy • Illuccix® sales through RLS • Planned installation of six relat
Slide 21: Value creation: Therapeutic development and discovery platform
Value creation: Therapeutic development and discovery platform Multiple opportunities across our pipeline, specialist in-house R&D adds strategic value Targeting vector • Late-stage pipeline further de- Chelator risks as we advance additional Linker assets into pivotal trials • Leadership in alpha t
Slide 22: Financial strategy aligned to growth opportunities
Financial strategy aligned to growth opportunities Growing revenue enables reinvestment to fund development Revenue growth potential Earnings growth potential Three 2021 – 2024 2025 - 2027 2028 and beyond phases of Transition to commercial Diversify and grow revenue Transition to higher value growth
Slide 23: Precision Medicine update
Precision Medicine update Kevin Richardson CEO, Precision Medicine 23
Slide 24: Precision medicine growth strategy
Precision medicine growth strategy Advancing global market penetration to support sustained value creation Expand product offerings Expand geographies Expandindications Expand indications • Drive Gozellix market entry and expansion • Progress global launches of Illuccix • Deliver BiPASS and drive •
Slide 25: Illuccix continues to deliver high single-digit growth
Illuccix continues to deliver high single-digit growth Dose volumes rose 7% in Q2 2025 vs. Q1 2025 driven by high demand 25% 154 Global Illuccix revenues 151 2% US$M 9% 139 5% 132 7% 123 9% 113 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 25
Slide 26: Illuccix growth expansion is progressing well
Illuccix growth expansion is progressing well Marketing authorizations in 23 countries Global approvals and launches on track • Approved in Australia, Brazil, Canada, UK, U.S, and 18 EEA Member States1 • Launched in the UK during Q2 as part of our global strategy • Germany, France, Italy, Spain and
Slide 27: Gozellix offers greater flexibility and reach
Gozellix offers greater flexibility and reach Driving innovation through next-generation PSMA imaging • First commercial doses delivered in Q2 2025 • Expanded reach with enhanced formulation with a “hot” shelf-life of up to 6 hours • Reimbursement (HCPCS code) effective 1 October 20251 • Centrally p
Slide 28: Could PSMA-PET be the future of prostate cancer diagnosis?
Could PSMA-PET be the future of prostate cancer diagnosis? Over one million patients get biopsy every year “The most disruptive and transformative advancements in medicine are those that minimize patient trauma, reduce recovery time and lower cost while improving outcomes” – John Abele, Founder Bost
Slide 29: Disrupting the diagnostic pathway in prostate cancer
Disrupting the diagnostic pathway in prostate cancer BiPASS (Biopsy of the prostate avoidance stratification study) Prostate Imaging Reporting and Data System (PI-RADS) (PSMA-PET + multiparametric MRI) • First registrational study on MRI1 + PSMA-PET Potential high risk Image-guided biopsy in diagnos
Slide 30: Near-term regulatory milestones
Near-term regulatory milestones TLX101-CDx (Pixclara) and TLX250-CDx (Zircaix)1 • New Drug Application (NDA) resubmission planned • Zircaix is a first-in-class radiodiagnostic agent for within approximately three months the diagnosis of ccRCC • PDUFA2 goal date to be advised by FDA upon • PDUFA goal
Slide 31: Therapeutics pipeline update
Therapeutics pipeline update Richard Valeix CEO, Therapeutics 31
Slide 32: Therapeutics pipeline: Late-stage and next-generation assets
Therapeutics pipeline: Late-stage and next-generation assets Building a leadership position in urologic and neurologic oncology LAT1: L-Type amino acid transporter 1. STS: Soft tissue sarcoma. LMD: Leptomeningeal disease. PDGFRα: Platelet-derived growth factor receptor alpha. CD66: Cluster of differ
Slide 33: Urologic oncology
Urologic oncology Advancing our PSMA therapeutics and enhancing patient outcomes with palliative care TLX591 TLX592 TLX090 177Lu rosopatamab tetraxetan (β) 225Ac-PSMA-RADmAb® (α) 153Sm-DOTMP (β) Next-generation, PSMA-targeting rADC alpha therapy candidate First-in-class rADC1 for mCRPC • CUPID, Phas
Slide 34: Urologic oncology (continued)
Urologic oncology (continued) Progressing our therapeutic programs targeting ccRCC TOP: TLX250-CDx PET/CT at baseline showing uptake TLX250 TLX252 in a sacral metastatic lesion in a patient with ccRCC. 177Lu-DOTA-girentuximab (β) 225Ac-DOTA-girentuximab (α) First-in-class rADC for advanced or Next-g
Slide 35: Neurologic oncology
Neurologic oncology Pioneering the future of neurologic oncology with a first-in-class radiotherapy approach GBM patient with clinically stable disease 18 months from initiation of TLX101 therapy TLX101 TLX102 131I Iodofalan, 131I-IPA (β) 211At astato-l-phenylalanine, 211At-APA (α) Potential first s
Slide 36: Other solid tumors/hematologic oncology
Other solid tumors/hematologic oncology Innovation across multiple therapeutic settings with pan-tumor potential TLX400 TLX300 TLX66 177Lu-DOTAGA.Glu.(FAPi) olaratumab 90Y-DTPA-besilesomab (β) 2 (β) Next-generation FAP-targeting PDGFRα-targeting antibody for Bone marrow conditioning for therapy with
Slide 37: Therapeutics: Progress across multiple programs in H1 2025
Therapeutics: Progress across multiple programs in H1 2025 Execution remains strong across strategic priorities Advancing our next- Delivering on our-late-stage pipeline generation platform ProstACT Global, Phase 3 study for Further de-risk as we advance Two alpha therapies entering TLX591 for mCRPC
Slide 38: Delivering the plan: Upcoming milestones
Delivering the plan Upcoming milestones Deliver Build Grow Expand ProstACT Global Part 2: Illuccix® Japan Ph 3 trial: Cyclotron installation at select TLX592: Ph 1 trial commencement Randomized trial commencement Patient dosing RLS sites ProstACT Global Part 1: Bi-PASS : TMS Yokohama: GMP ALPHIX (TL