Starpharma Holdings Limited · ASX:SPL
Starpharma — Investor Presentation (July 2026)
45 slides from Starpharma's investor presentation, Jul 15, 2026
Slide 1: Renounceable Pro-rata Entitlement Offer Investor Presentation
Starpharma Holdings Limited (ASX:SPL) (US OTC:SPHRY) Renounceable Pro-rata Entitlement Offer 15 July 2026 I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer The following disclaimer applies to this investor presentation and you are therefore advised to read this carefully before reading or making any other use of this presentation or any information contained in this presentation. By accepting this presentation, you repre
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer Investment risk An investment in shares in Starpharma is subject to known and unknown risks, some of which are beyond the control of Starpharma and its directors, including possible loss of income and principal invested. Starpharma does not guarantee any particular ra
Slide 4: Important Notice and Disclaimer
Important Notice and Disclaimer Financial data All dollar values are in Australian dollars ($ or AUD) unless stated otherwise. All Starpharma references starting with “FY” refer to the financial year for Starpharma, ending 30 June. For example, for Starpharma, “FY25” refers to the financial year end
Slide 5: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer (continued) The Lead Manager and its Limited Parties make no recommendation as to whether you or your related parties should participate in the Entitlement Offer nor do they make any representations or warranties to you concerning the Entitlement Offer. The
Slide 6: Summary
Summary Starpharma is today launching a fully underwritten ~A$32 million pro-rata renounceable entitlement offer (“Entitlement Offer”) • 1 for 7.5 Entitlement Offer • A$0.57 per New Share (“Offer Price”) • 25% discount to the ASX traded closing price on Tuesday 14 July 2026 Net proceeds of the Entit
Slide 7: Investment Highlights
Investment Highlights Global leader in dendrimer technology Clinically Validated Novel Radio- Three Strategic, Positioned for Portfolio of Strong IP & DEP® Technology pharmaceutical High-value, Next Generation Partner-ready Uniquely Platform Asset Partnerships Therapies Assets Experienced Team • Mor
Slide 8: DEP Platform
DEP Platform ® Developing Targeted Therapies Through Dendrimer Technology I INNV VE ES ST TOOR R P PR RE ES SE ENNT TA AT TI IOONN J M U A L Y 2 0 2 6 8
Slide 9: Our DEP Platform
Our DEP® Platform Solving complex challenges in drug development Customisable DEP® technology overcomes the three reasons drugs fail in development The Three reasons drugs FAIL in The Challenges DEP® Solution development Insufficient tumour exposure. 50% Improved tumour penetration / retention, incr
Slide 10: Our DEP Platform Technology
Our DEP® Platform Technology Global leader in dendrimer technology Overview Dendrimer Generations • Extensive pharmaceutical dendrimer dataset backed by 20 years of IP and know-how • Dendrimers are highly branched (tree-like) macromolecules with a well- defined 3D structure • DEP® dendrimers are con
Slide 11: Our DEP Platform Technology
Our DEP® Platform Technology Harnessing multiple pathways to maximise shareholder returns Prioritising radiopharmaceuticals and other targeted Novel asset oncology modalities development (revenue from asset license & commercialisation) DEP Platform Strategic Multinational, private equity, biotechnol
Slide 12: Evolving Asset Pipeline
Evolving Asset Pipeline Strategic focus on targeted therapies and partnerships in oncology to drive shareholder value Target Pre- Product Phase I Phase II Phase III Status Indication clinical Partner Pipeline Targeted Therapies DEP® HER2 radiotherapeutic 3L treatment resistant, Entering Phase I Part
Slide 13: DEP Radiotheranostics
DEP® Radiotheranostics Targeting Significant Unmet Needs With First-in-class Dendrimer Technology I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6 13
Slide 14: DEP HER2-lutetium is a Targeted Radioligand Therapy Leveraging Dendrimer Technology
DEP® HER2-lutetium is a Targeted Radioligand Therapy Leveraging Dendrimer Technology Differentiated profile with potential to enhance tumour targeting and tolerability First-in-class HER2 Radiotherapy DEP® HER2-lutetium Optimised Design: Parameter Target Product Profile DEP® HER2-lutetium Schematic
Slide 15: DEP HER2-lutetium Achieves Strong Uptake & Retention in HER2+ Tumours
DEP® HER2-lutetium Achieves Strong Uptake & Retention in HER2+ Tumours Strong tumour uptake and prolonged tumour retention with low kidney exposure • DEP® HER2-Lu vs. radiolabelled HER2-targeting VHH without dendrimer, HER2-VHH-Lu 4 hours 48 hours 5 days 12 days HER2-VHH-Lu DEP® HER2-Lu HER2-VHH-Lu
Slide 16: DEP HER2-lutetium Achieves Strong Uptake & Retention in HER2+ Tumours
DEP® HER2-lutetium Achieves Strong Uptake & Retention in HER2+ Tumours Fast blood clearance, minimal kidney exposure and favourable tumour to tissue ratios DEP® HER2-Lu Blood Clearance 50 Fast clearance from blood DEP® HER2-Lu Biodistribution Radioactivity (%ID/g) 40 35 30 48 hours 30 5 days 20 Stro
Slide 17: DEP HER2-lutetium Achieves Significant Anti-tumour Activity and Survival Benefits
DEP® HER2-lutetium Achieves Significant Anti-tumour Activity and Survival Benefits Durable tumour growth control and survival benefits that are comparable to Enhertu® • HER2-positive (high-expressing) cancer model; DEP® HER2-Lu (25 MBq) and DEP® HER2-Lu (15 MBq) vs. Enhertu®, HER2-VHH-Lu and Vehicle
Slide 18: Clinical Development Strategy
Clinical Development Strategy Significant unmet need offers potential for Accelerated Approval H2 CY27 H2 CY26 Topline readout for up to 15 CY28 First patient dosed Phase 2/3 ready POTENTIAL FOR ACCELERATED APPROVAL patients from FIH/Ph 1 Ph 1/2 (IND) begins Registration FIH / Phase 1 Phase 1/2 Pivo
Slide 19: DEP Radiopharmaceutical Data Supports New Patent Filing
DEP® Radiopharmaceutical Data Supports New Patent Filing Differentiated preclinical profile strengthens platform IP and partnering potential Differentiated Profile Broad, Modular Platform IP & Partnering Upside • Enhanced tumour uptake and retention • Consistent data observed across HER2, • New pate
Slide 20: Strategic Partnerships
Strategic Partnerships Diversified Source Of Upside With Significant Potential I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6 20
Slide 21: Our Strategic Partnerships
Our Strategic Partnerships DEP® Platform delivering multiple, diversified sources of future value Exclusive License Joint Venture Option & License Agreement • Single Oncology asset focus Agreement • Limited targets, multi-product • SPL holds 22.5% equity in Petalion • Single asset focus • Deal value
Slide 22: Star Navigator Initiative to Streamline Partner Engagement
Star Navigator Initiative to Streamline Partner Engagement Incubating partner-led value creation from the DEP® technology platform The Strategy Importance Value • Demonstrate technology value earlier in • Growing global demand for • Radiopharm Theranostics: first deal the development journey differe
Slide 23: Clinically Validated, Partner-Ready Assets
Clinically Validated, Partner-Ready Assets DEP® SN38 And DEP® Cabazitaxel I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6 23
Slide 24: DEP SN38 Phase II Study
DEP® SN38 Phase II Study Delivers strong efficacy in late-stage patients vs standard therapies Advanced Colorectal Cancer Gastrointestinal Toxicity Profile Significantly Improved with DEP® SN38 Treatment, Compared to Published Data on Irinotecan# 14 4.2 Irinotecan* DEP® SN38 50% 2.8 47% Only 1 patie
Slide 25: DEP Cabazitaxel Phase II Study
DEP® Cabazitaxel Phase II Study Delivers strong efficacy in late-stage patients vs standard therapies DEP® Cabazitaxel in Advanced Prostate Cancer 41.80% Jevtana^ DEP® cabazitaxel 5 4.4 20 N=5801 N=251 4 14.7 15 13.4 2.9 3 Low rates or absence of severe, dose-limiting bone 10 marrow toxicities in pr
Slide 26: Catalysts & Corporate
Catalysts & Corporate Focusing On Strategic Execution And Revenue Generation I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6 26
Slide 27: Starpharma's Track Record of Execution in Past 18 Months
Starpharma’s Track Record of Execution in Past 18 Months From clinical validation, to global partnerships and advancing radiotheranostics Radiopharm Theranostics option period for exclusive Announced Radiopharm license triggered Theranostics Research agreement with option up to Finalised FDA Feedbac
Slide 28: Focusing on Strategic Execution and Revenue Generation
Focusing on Strategic Execution and Revenue Generation Important catalysts we anticipate in the next 12-18 months 2H CY26 1H CY27 2H CY27 DEP® HER2 Program DEP® HER2 Program DEP® HER2 Program • Preclinical data • Initial data readout from ~3-4 patients • Final data readout from FIH study • Study com
Slide 29: Corporate Overview and Financial Results
Corporate Overview and Financial Results Focusing on strategic priorities and disciplined execution Company Overview at 30 June 2026 Financial Results ASX:SPL Annual result FY25 FY24 Half-year result H1FY26 H1FY25 Ticker US OTC: SPHRY Revenue $4.9M $1.7M^ Revenue $10.8M $1.9M A$0.76 Share Price1 (US
Slide 30: Board & Leadership Team
Board & Leadership Team Driving innovation with global expertise Rob Thomas AO Cheryl Maley David McIntyre Lynda Cheng Dr Jeff Davies Dr Russell Basser Justin Cahill Independent Chief Executive Independent Non- Independent Independent Independent Chief Financial & Non-Executive Officer & Managing Ex
Slide 31: Capital Raise
Capital Raise Fully Underwritten Renounceable Pro-rata Entitlement Offer I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6 31
Slide 32: Capital Raise
Capital Raise Fully underwritten renounceable pro-rata entitlement offer • Fully underwritten one (1) for seven and a half (7.5) pro rata entitlement offer (Entitlement Offer) to raise ~$32 million Structure & Size • Issue of ~ 56 million new fully paid-up ordinary shares (New Shares) to be issued u
Slide 33: Indicative Use of Funds
Indicative Use of Funds Focus on development of DEP® targeted oncology assets Use of Funds A$M Commentary • Provides funding to complete First In Human study Complete the first-in-human and dose escalation stages of • Provides confidence in concurrent planning (CRO management, $17M the DEP® HER2-Lu
Slide 34: Entitlement Offer Indicative Timetable
Entitlement Offer Indicative Timetable Commencing 15 July until 12 August 2026 Event Date (AEST) Announce Offer Wednesday 15 July Ex date Friday 17 July Entitlements quoted on ASX on deferred settlement basis Friday 17 July Record date to identify shareholders entitled to participate in the Offer Mo
Slide 35: International Offer Restrictions
International Offer Restrictions I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6 35
Slide 36: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In Singapore particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in This document and any others rel
Slide 37: Summary of Underwriting Agreement
Summary of Underwriting Agreement II NN VV EE SS TT O O RR PP RR EE SS EE NN TT AA TT II O O NN JJ UU NL E Y 2 0 2 6 37 37
Slide 38: Summary of Underwriting Agreement
Summary of Underwriting Agreement Starpharma has entered into an underwriting agreement with the Underwriter dated Wednesday 15 July o ASX announces that the Company will be removed from the official list or that any shares will 2026 (Underwriting Agreement). The Underwriter has agreed to act as lea
Slide 39: Summary of Underwriting Agreement
Summary of Underwriting Agreement The Underwriter may, by notice given to Starpharma, and without cost or liability, immediately terminate The Underwriter will receive the following total fees under the Underwriting Agreement: the Underwriting Agreement on the occurrence of certain events at any tim
Slide 40: Key Risks
Key Risks I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6 40
Slide 41: Key Risks
Key Risks This section discusses some of the key risks relating to an investment in Starpharma, which may have an impact on Starpharma’s business, its financial and operational performance, and the value of Starpharma shares (including shares issued in connection with the Offer). Before investing in
Slide 42: Key Risks
Key Risks Clinical Development Risk Financial The nature of clinical drug development has inherent risks, with many drug candidates entering clinical Starpharma currently does not receive sufficient recurrent income to cover operating expenses. There is trial failing to be successfully developed int
Slide 43: Key Risks
Key Risks External Partnerships – Pharmaceutical Companies External Partnerships – Venture Capital (VC) or Private Equity (PE) Funds (continued) Starpharma has entered into a number of external partnerships with pharmaceutical company partners, The timing, terms and availability of any such exit may
Slide 44: Key Risks
Key Risks Manufacturing and Supply Risk Data Security / IT Starpharma is required to manufacture and supply product under certain licensing agreements. The Starpharma and its contract research organisations maintain sensitive personal information, such as manufacture of product is undertaken by spec
Slide 45: Thank you
Thank you Investor Relations Corporate Office Investor.Relations@Starpharma.com 4 – 6 Southampton Crescent www.Starpharma.com Abbotsford, Victoria 3067 Australia I N V E S T O R P R E S E N T A T I O N M A Y 2 0 2 6
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