Ann: CLINUVEL renews share buy-back program, page-64

I will send this to CUV investor relations tomorrow, if they respond I will post it.

Subject: Share Buyback Inquiry – Clarification Request

To: Investor Relations, Clinuvel Pharmaceuticals Limited
CC: ASX Listings Compliance (if sending to ASX as well)

Dear Investor Relations Team,

I am writing as a shareholder to request clarification regarding Clinuvel Pharmaceuticals' on-market share buyback programs announced in 2024 and 2025.

The company has publicly announced buyback authorisations totaling up to $20 million across two programs, with the stated objective of enhancing shareholder value. However, as disclosed, the actual repurchases to date appear to be minimal — approximately $1 million in total.

Given this, I would appreciate clarification on the following:

1. What specific criteria or conditions must be met before Clinuvel executes further buybacks under the current program?

2. Does the company currently intend to actively pursue the repurchase of shares under the renewed buyback authority expiring April 2026?

3. How does Clinuvel reconcile the limited execution with prior public statements regarding the buyback, especially in terms of signaling and capital management?

I ask these questions to better understand the company's capital allocation strategy and ensure alignment with the interests of long-term shareholders.

Thank you for your time, and I look forward to your response.

Kind regards,
[Your Full Name]
[Shareholder Reference Number, if applicable]
[Email Address / Contact Information]