Ann: Noxopharm March 2020 Quarterly Report & Appendix 4C, page-2

8.5 Estimated quarters of funding available (Item 8.4 divided by Item 8.1) 0.66

8.6 If Item 8.5 is less than 2 quarters, please provide answers to the following questions:

1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer: No - the operations have been significantly scaled back as a result of Covid 19 pandemic.

2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer: The company is planning a capital raising to be undertaken in the next 4 weeks, full details of this will be announced to the market when available. An additional $410,000 cash inflow has been received from the conversion of collateral shares in April 2020.

3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

1. Answer: The company expects to be able to continue its operations and meet its business objectives through use of funding raised from the capital raising currently being planned.