• 2 for 5 pro rata non-renounceable rights offer of New Shares at $0.005 per share
• 1 New Option for every 2 New Shares subscribed
• Offer includes Shortfall Offer and JLM Options Offer

Percheron Therapeutics Limited is issuing this Prospectus for a two (2) for five (5) pro rata non-renounceable rights offer of New Shares at an issue price of $0.005 per New Share, together with one (1) New Option for every two (2) New Shares subscribed for and issued (Entitlement Offer). The Prospectus also includes the Shortfall Offer and the JLM Options Offer. The Offers close at 5:00pm (AEST) on 8 April 2026, and valid acceptances must be received before that time. The Securities offered by this Prospectus are of a speculative nature, and potential investors should carefully consider the risk factors outlined in Section 4 of the Prospectus. The Offers do not constitute an offer to sell, or the solicitation of any offer to buy, any securities in any place in which, or to any person to whom, it would not be lawful to make such an offer or invitation. The distribution of this Prospectus outside Australia may be restricted by law, and any failure to comply with such restrictions may constitute a violation of those laws.