Ann: March 2025 Quarterly Update and Appendix 4C, page-4

With the funds available and another rebate nextyear I see the probability of a CR is most likely during the 3^rd quarternext financial year which is = to the 1^st quarter next calendar year(CY) when we know much more about PTX 100 for both CTCL and PTCL, CellPryme andthe details of OmniCAR issue resolution – all most likely to be favourable fora positive SP with the CR rather than a serious dilution as would have beenexpected if done in the last 12 months or in the next few months.

The unexpected early fast track approval has helped SP confidence whereas it was not expected until mid CY at the earliest. While there are small and some large parties exiting PTX because of current economic factors there is also IMO some large buy trades along with the bots supporting a slow SP increase. I expect the SP to slowly increase over time, especially with expected early results confirming the efficacy of PTX 100.

While I retain a hold sentiment until more detail is known about PTX 100 and the possibilities of OmniCAR it is also a daft time to sell unless one has to. While the world economic situation is far from a steady state the SP may still have difficulties in the next 6 months due to market gyrations but the outcome remains overwhelmingly positive for PTX.

So I agree that the next 12 months should be very rewarding, but IMO most will happen late this CY and probably early next year – so hang on if you can or buy more on the dips if you can – for the transition from a speculative company to an operational oncology company is at hand when FDA approval to conditionally market SPX 100 occurs probably late this CY year to mid next CY – hopefully with the CR.

While PTX 100 and CellPryme will start the earnings for PTX in the near future I am convinced that OmniCAR will become the focus of attention if its promise of universality of delivery and control of titration of a vast array of treatments for not only oncology but other diseases in the decades to come. While not impossible, I consider it unlikely there will be a close competitor to OmniCAR due to its covalent operation which would already have been duplicated with different compounds if possible and ionic bonds will never have the same strength or switching ability, leaving it to provide a great moat

So IMO OmniCAR will take over from PTX 100 as the growth driver about the time PTX 100 is finally approved in about 5 years. PTX 100 will provide some of the capital to trial OmniCAR and have it approved in various situations before the owners of the attachment mechanisms will have to pay for their own trials. There will possibly be several more CR’s after the next one for both PTX 100 and OmniCAR but all should be positive to the SP IMO.

With hindsight I would not have invested 5 years ago pre OmniCAR and the CR’s since, but would be investing now and any CR’s between now and OmniCAR FDA approval. What I will not do is sell between now and OmniCAR approval and will buy more where possible after PTX 100 is approved for sale soon and the universality of OmniCAR and its continued lack of competitors is apparent – when I will change to a buy sentiment and if necessary sell other holdings to focus on PTX to become very wealthy, not just well off with PTX 100 and CellPryme as the only drivers.

As stated previously, I expect PTX at some stage to become listed in the USA as SYC intimated several times and hopefully that will be a dual listing so the local SP will be a close duplicate of the USA SP which will be far greater than what Australians alone will pay. Unfortunately a USA NASDAQ listing costs over $US 6 million so it is unlikely to be possible prior to this forthcoming CR without borrowing funds/collaborating but may be a result of it hopefully.

Considering the components of PTX 100, CellPryme and OmniCAR can be and possibly are of USA origin I do not expect any tariff issues and have not seen any SP influence yet. A USA listing would overcome any issues if they arise.

Therefore, the future of PTX appears to be great IMO but predictions of SP are not possible now but should become realistic as PTX 100 and CellPryme sales start next year. I doubt that there will be a lower SP than that already experienced considering the probabilities and it will be irrelevant/short term if it does occur.
My expectation is that the SP will exceed 30 cents by May next year considering it has already peaked there before and there should be excellent and far greater reasons next time even if there is a CR before then.

The disclaimer is that my expectations may be of beam to totally wrong but it is my opinion to aid tracking/management of future investment decisions. Some other shares were sold mid last year and the remainder are on hold like PTX until the world economic situation develops a direction. Meanwhile, using CFD contracts to follow trends in either direction of gold or other precious metals along with USA indices will be in focus for the foreseeable future for there are strong probabilities of major changes to them soon.