Net sales of US$177 million in 2023 delivered royalties of A$27 million to Neuren. Assuming Acadia’s guidance for 2024 is met and an exchange rate of 0.65, Neuren anticipates royalties of A$61-70 million (US$3945 million), plus A$77 million (US$50 million) from the first sales milestone payment due for the first calendar year in which net sales exceed US$250 million. The milestone payment would be earned as revenue in 2024 and received in Q1 2025. Acadia anticipates potential approval of a New Drug Submission (NDS) filing for trofinetide in Canada around year-end 2024. There are currently 600 to 900 Rett patients in Canada. Any net sales in Canada will be included in the North America net sales for the purpose of calculating royalties and sales milestone payments to Neuren. OPERATING REVIEW CONTINUED 1 2023E royalty of A$27m 2024E royalty of A$61 – 70m, plus A$77m sales milestone 2023 net sales of US$177m 2024E net sales of US$370 – 420m 61 138 4 10 13 27 70 147 Q2 2023 Q3 2023 Q4 2023 CY2023 Royalty only* Royalty + Sales Milestone^ Royalty and Sales Milestone to Neuren (A$m) CY2024 Historical Acadia guidance * Based on 10% of DAYBUE net sales up to US$250m and 12% of DAYBUE net sales between US$250m and US$500m, and AUDUSD of 0.65 ^ Neuren will be entitled to US$50m sales milestones (receivable in Q1 2025) if CY2024 DAYBUE net sales reaches US$250m; assumes AUDUSD of 0.65 370 3 67 87 177 420 2023 Q3 2023 Q4 2023 CY2023 CY2024 Acadia Guidance DAYBUE Net Sales (US$m) 45-55 80-87.5 * B ased on 10% of DAYBUE net sales up to US$250m and 12% of DAYBUE net sales between US$250m and US$500m, and AUDUSD of 0.65 ^ Neuren will be entitled to US$50m sales milestones (receivable in Q1 2025) if CY2024 DAYBUE net sales reaches US$250m; assumes AUDUSD of 0.65 Neuren Pharmaceuticals Limited Annual Report 2023 7
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