Announcement PDF Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Announcement Summary Entity name NEUREN PHARMACEUTICALS LIMITED Date of this announcement Friday September 19, 2025 The +securities the subject of this notification are: +Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends Total number of +securities to be issued/transferred ASX +security code New class - code to be confirmed Security description Total number of +securities to be issued/transferred Issue date 165,000 19/09/2025 Employee share scheme Refer to next page for full details of the announcement Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 1/7 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Part 1 - Entity and announcement details 1.1 Name of entity NEUREN PHARMACEUTICALS LIMITED We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities. 1.2 Registered number type Registration number ABN 72111496130 1.3 ASX issuer code NEU 1.4 The announcement is New announcement 1.5 Date of this announcement 19/9/2025 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 2/7 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Part 2 - Issue details 2.1 The +securities the subject of this notification are: +Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends 2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which: does not have an existing ASX security code ("new class") Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 3/7 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Part 3C - number and type of +securities the subject of this notification (new class) New +securities issued under an +employee incentive scheme ASX +security code +Security description New class - code to be confirmed Employee share scheme +Security type ISIN code Options Date the +securities the subject of this notification were issued 19/9/2025 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Were any of the +securities issued to +key management personnel (KMP) or an +associate? No Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Material terms: - Exercise price ($19.63 per share) is the volume weighted average price (VWAP) at which the Company's shares were traded on the ASX in the 5 days preceding the date of issue of the Options. - All options lapse 5 years after the issue date. - Options are subject to the following vesting conditions: (a) one third on the last patient dosing in a Phase 3 clinical trial; (b) one third on the acceptance for filing of a marketing application, or execution of a material partnering transaction; (c) one third on the first patient dosing in a pivotal clinical trial for a second indication. - The options carry no entitlement to vote or participate in new issues. - All Options that have not lapsed will become immediately exercisable if any offer is received for the shares in the Company that will result in a change of control. Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 19.63000000 19/9/2030 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option NEU : ORDINARY FULLY PAID Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms Material terms: - Exercise price ($19.63 per share) is the volume weighted average price (VWAP) at which the Company's shares were traded on the ASX in the 5 days preceding the date of issue of the Options. - All options lapse 5 years after the issue date. Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 4/7 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities - Options are subject to the following vesting conditions: (a) one third on the last patient dosing in a Phase 3 clinical trial; (b) one third on the acceptance for filing of a marketing application, or execution of a material partnering transaction; (c) one third on the first patient dosing in a pivotal clinical trial for a second indication. - The options carry no entitlement to vote or participate in new issues. - All Options that have not lapsed will become immediately exercisable if any offer is received for the shares in the Company that will result in a change of control. Any other information the entity wishes to provide about the +securities the subject of this notification Issue details Number of +securities 165,000 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 5/7 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Part 4 - +Securities on issue Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise: The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing. 4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX) ASX +security code and description Total number of +securities on issue NEU : ORDINARY FULLY PAID 126,289,526 4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX) ASX +security code and description Total number of +securities on issue NEUAA : OPTION EXPIRING 23-MAY-2030 EX $12.91 1,800,000 NEUAAB : OPTION EXPIRING 08-JUL-2026 EX $3.83 450,000 NEUAAA : OPTIONS EXPIRING 03-FEB-2026 EX $3.46 350,000 NEUAB : OPTION EXPIRING 09-JUL-2030 EX $14.10 210,000 NEUAAC : OPTION EXPIRING 07-FEB-2029 EX $23.09 260,000 New class - code to be confirmed : Employee share scheme 165,000 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 6/7 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Part 5 - Other Listing Rule requirements 5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No 5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No 5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes 5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? 165,000 5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? N/A Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 7/7