Ann: Neuren Corporate Presentation, October 2019, page-72

Hi Philipper,

Thanks for you summary on preso.

So with end market of potential revenue of $28.5 Aud billion with double didgit royalties as current US deal is structured and assuming ROW may be also double digit (tbc)

using 10% as amount (tbc) is $285m aud p.a royalties into NEU coffers

what share price combined with dividends could we be talking with NEU current shares on issue if This eventuates?

I know there is a a lot of focus on HC re TO short term potentially ie $4, or $10-$20 if Successful however given we are so close now and in phase 3 and realistic value for current stage of assets hasn't been established yet, are we better to now sit this out?

I always thought the Acadia deal was arguably structured this way for a reason, longerterm picture....

I think it's important to spell out the longer term picture for all holders, for me a small company like NEU with small amount of shares issued, small expenditure as they are potentially only developing new drugs ongoing and receiving potentially these future royalties earning $285m aud p.a, I am assuming our share price could be potentially a lot higher than $20p/Sh with a nice annual dividend.