CLINUVEL update on Level II ADR upgrade, Nasdaq uplist

• Clinuvel continues to engage with SEC on draft registration statement
• Expects SEC review to complete before end of FY2026
• Plans to upgrade ADR program from Level I to Level II on Nasdaq

Clinuvel Pharmaceuticals Ltd announced that it continues to engage with the U.S. Securities and Exchange Commission (SEC) on its draft registration statement, a key step to uplisting its American Depository Receipt (ADR) program on the Nasdaq Stock Market. The company has received four rounds of questions from the SEC and expects the review to complete before the end of the 2026 Financial Year (30 June 2026). Once the SEC review is completed, Clinuvel plans to upgrade its ADR program from Level I to Level II, listed on the Nasdaq. Following review, Clinuvel expects to trade on the Nasdaq with the updated ticker CUVL. The company's legal counsel stated that there is a structured exchange with the SEC as Clinuvel aligns its reporting to US Generally Accepted Accounting Principles and ensures it meets the rigorous disclosure standards demanded in the U.S. The company is confident that it is addressing the SEC's most recent questions comprehensively and that it can then progress the planned uplist. However, the process remains subject to SEC review and satisfaction of Nasdaq listing requirements, and there is no guarantee that the uplisting will proceed or occur within the expected timeframe.