Merry Christmas & Bright New Year

Dear Fellow Shareholders

I just wanted to personally thank you all for your loyal support through what has been a very trying year and wish you a merry Christmas and relaxing New Year. Having been back at Race for a month as the CEO, I am more convinced than ever that bisantrene is an extraordinary drug that has the potential to help millions of cancer patients around the world and financially reward all of us for our continued patience.

We are very lucky to have an amazingly talented team of scientists and clinicians at Race to turn this potential into reality. I am looking forward to us completing the manufacture and non-clinical testing of RC220 and treating the first patient in our upcoming Phase 1 cardioprotection and m6A RNA clinical trial. Whenever I speak to external researchers about bisantrene, I continue to be impressed with their interest and enthusiasm for what we are doing. They recognise the serious problems that chemotherapy causes cancer patients, and they are excited by the potential of bisantrene to help minimise the terrible side effects of cancer treatment.

For me, Race is more than an investment, it is an opportunity to contribute to helping the many people suffering what is one of the worst and most difficult to treat diseases. I know many of you feel the same way and I am grateful for your support on this journey. I cannot promise we will succeed, but I can promise I will do everything I can to give us the best chance of success, both in the clinic and the deal room.

I would like to add an extra thanks to those shareholders who have exercised your bonus options. Your support makes a real difference as it allows us to bring forward our plans and build value sooner.