Telix Successfully Prices Upsized US$600M Convertible Bonds

• Telix prices and upsizes US$600 million convertible bonds due 2031
• Initial conversion price of US$13.85 (~A$19.55) per share, 37.5% premium to reference price
• Concurrent repurchase of over 85% of existing A$650 million convertible bonds due 2029

Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX) has successfully priced and upsized its 1.50 per cent convertible notes due 2031 to be issued by its wholly-owned subsidiary, Telix Pharmaceuticals (Investments) Inc., and guaranteed by Telix and Telix Pharmaceuticals (US) Inc. The offering was upsized from US$550 million to US$600 million due to strong demand. The initial conversion price of the convertible bonds is US$13.85 (~A$19.55) per ordinary share, which represents a conversion premium of 37.5 per cent over the reference share price of A$14.22. The convertible bonds will bear interest at a rate of 1.50 per cent per annum, payable quarterly. Telix will also concurrently repurchase approximately A$637 million of its existing A$650 million convertible bonds due 2029, resulting in the repurchase and cancellation of more than 85% of the existing convertible bonds. Telix intends to exercise its right to redeem the remaining existing convertible bonds. The successful completion of the convertible bonds refinance is in line with Telix's capital management strategy and provides financial flexibility for the company.