Announcement PDF ASX RELEASE 24th January 2025 Paradigm receives $6.3 million boost to cash reserves through Australian Government’s R&D Tax Incentive • • $6.3m received from the Australian Government for the FY24 R&D Tax incentive rebate, further adding to the $16m capital raised in December 2024. Paradigm continues advancing its pivotal phase 3 clinical trial for its Osteoarthritis program, targeting first subject recruitment in Q1 CY2025. Paradigm Biopharmaceuticals Ltd (ASX:PAR) (“Paradigm” or “the Company”), a late-stage drug development company focused on delivering new therapies to address unmet medical needs is pleased to advise that the company has received a $6,300,438 Research and Development (R&D) Tax Incentive refund for the 2024 financial year. The receipt of funds brings the Company’s current cash balance to approximately $31 million. Paradigm Managing Director, Mr Paul Rennie commented, “We are in an important phase at Paradigm as we continue to advance our Phase 3 clinical trial. With our cash position further boosted with this incentive refund, we are well-positioned to progress our Phase 3 clinical trial activities and subject recruitment in Australia. The R&D Tax Incentive refund supports our mission to deliver much-needed therapies to address significant unmet medical needs. We are committed to maintaining momentum and achieving our milestones.” The R&D Tax Incentive is an Australian Government program designed to encourage innovation by supporting Australian companies to undertake R&D activities within Australia. Under the program, eligible companies can receive refundable cash offsets of 43.5% for qualifying R&D expenditure. About Paradigm Biopharmaceuticals Ltd. Paradigm Biopharmaceuticals Ltd. (ASX:PAR) is a late-stage drug development company driven by a purpose to improve patients’ health and quality of life by discovering, developing, and delivering pharmaceutical therapies. Paradigm’s current focus is developing injectable (subcutaneous) pentosan polysulfate sodium (iPPS) for the treatment of diseases where inflammation plays a major pathogenic role, indicating a need for the anti-inflammatory and tissue regenerative properties of iPPS, such as in osteoarthritis (phase 3) and mucopolysaccharidosis (phase 2). ______________________________________________________________________________ Authorised for release by the Paradigm Board of Directors. To learn more please visit: www.paradigmbiopharma.com FOR FURTHER INFORMATION PLEASE CONTACT: Simon White Director of Investor Relations Tel: +61 404 216 467 Paradigm Biopharmaceuticals Ltd ABN: 94 169 346 963 Level 15, 500 Collins St, Melbourne, VIC, 3000, AUSTRALIA Email: investorrelations@paradigmbiopharma.com