Ann: Race 2022 AGM Presentations, page-90

AGM presentation (my notes focusing on cardio).

(CEO) PhIl:

• cardio protection - we believe with Zantrene we have the potential to partner our drug with most chemotherapeutics and to reduce cardio damage.

(CSO) Dr T:

• Cardio protection
• A key commercial opportunity
• undergoing Primary Market research in US.
• Can’t talk about that now but proving to be very encouraging., very happy how it’s turning out.
• Any company will be happy to have cardio as their sole commercial opportunity.
• Phil and I argue about which opportunity is larger (FTO v cardio). But we both agree they are both whales, we are just arguing the size of the whales.

My thoughts and opinions:

The RAC story and potential is complex and getting more complex (but in a positive way): AML + FTO (2020) + Cardio (2021) + new formulations (2022) + new drugs.

I have been on this journey for 3 years now and still getting my head around it. I can understand the difficulty getting new investors to take time and effort to read, listen and research. The US Primary Market research data (scheduled to be updated to us in weeks) plus more Aust, and later overseas marketing, should help in this regard.

Re-reading the AGM chairman’s address and the Pre-IND announcements of this week (my highlights attached), I get the sense that there are more unexpected good news to come. They can’t talk about discussions they are having behind the scenes, until they have something concrete to announced.

Do your research, re-read the ASX announcements multiple times if you have too, like I needed to. Listen to the AGM presentation when it comes out next week. And make up your own mind. Very few people are willing to do this, as it is difficult and time consuming, hence the perceived undervalue in the current sp.

RAC’s value doesn’t decrease based on someone’s (the market’s) inability to see its worth, but of course the price can go up and down. Price is what you pay, value and opportunity is what you get. Hence the chance for some.