Reported positive results from the Phase 2b clinical trial of imaging agent RAD 101, showing 93% of
evaluable patients treated with RAD 101 achieved the primary endpoint

Raised approximately $12.5M through an institutional offer and launched a $6million Share Purchase Plan, post balance date

Sydney, Australia – 31 July 2026 – Radiopharm Theranostics (ASX: RAD, Nasdaq: RADX, “Radiopharm” or the “Company”), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, today announced financial results for the quarter ended June 30, 2026, and provided a corporate update.

“We continue to make meaningful progress across our portfolio as we advance a diverse pipeline of targeted radiopharmaceutical candidates designed to address some of the most challenging cancers,” said Riccardo Canevari, CEO and Managing Director of Radiopharm Theranostics. “The positive Phase 2b results for RAD 101 represent an important milestone for Radiopharm and reinforce our confidence in the potential of our technologies. In addition, the early clinical signs in the third cohort of RAD 204, showing RECIST-confirmed Partial Response in the first patient treated at this dose, is creating a lot of excitement among the Clinical Investigators of our Phase I therapeutic trial. Across the organization, we are generating clinical data, advancing multiple development programs, and building the capabilities required to realize the full value of our platform. With six active clinical programs spanning both diagnostic and therapeutic applications, we believe Radiopharm is establishing a leading radiopharmaceutical company uniquely positioned to deliver innovative new medicines to patients while creating long-term value for shareholders. We remain focused on executing against our development priorities and advancing what we believe could become a new generation of precision cancer treatments.”

18F-RAD101 – Small molecule targeting fatty acid synthase radiolabelled with Fluorine-18

RAD 101 is being evaluated in a single-arm U.S. Phase 2b clinical trial for the diagnostic performance of the molecule in 30 individuals with confirmed recurrent brain metastases from solid tumors of different origins. RAD 101 has received U.S. Food and Drug Administration (FDA) Fast Track Designation to expedite the review process and help bring the novel imaging small molecule to the over 300,000 patients diagnosed annually in the U.S. with cerebral metastases.

RAD 204 is being evaluated in a Phase 1 study in PD-L1-driven cancers, including Non-Small Cell Lung Cancer (NSCLC), Small-Cell Lung Cancer (SCLC), Triple-negative Breast Cancer (TNBC), Cutaneous Melanoma, head and neck squamous cell carcinoma (HNSCC) and Endometrial Cancer.

The Company continues to evaluate RAD 202 in the Phase 1 ‘HEAT’ clinical trial in patients with Human Epidermal Growth Factor Receptor 2 (HER2)-positive advanced solid tumors. HER2 is overexpressed in breast cancer and several other solid tumors and represents a validated target in oncology. RAD 202 has demonstrated clinical proof-of-concept with positive safety and biodistribution.

Lu177-RV 01 – monoclonal antibody targeting 4Ig isoform of B7H3 radiolabelled with Lutetium 177

RV 01 (Betabart) is a monoclonal antibody targeting the 4Ig isoform of B7H3, an immune checkpoint protein that is highly expressed in tumors and not in healthy tissue. In multiple preclinical studies, RV-01 has shown tumor shrinkage and prolonged survival. This is the first radiopharmaceutical therapeutic developed by Radiopharm Ventures, a joint venture between Radiopharm Theranostics and the MD Anderson Cancer Center.

Tb161-RAD 402 – Monoclonal antibody targeting KLK3 radiolabelled with Terbium 161

RAD 402 is a monoclonal antibody targeting Kallikrein Related Peptidase 3 (KLK3) radiolabelled with the radionuclide 161Tb for the treatment of prostate cancer. In preclinical mouse models, RAD 402 showed strong tumor targeting, limited bone and marrow uptake, and a hepatic excretion profile consistent with expectations for a monoclonal antibody.

RAD 301 is being evaluated in a Phase 1 imaging trial in patients with Pancreatic Ductal Adenocarcinoma (PDAC). The αvB-integrin is a cellular marker for tumor invasion and metastatic growth, which correlates with decreased survival in several carcinomas, particularly pancreatic. RAD 301 has previously received Orphan Drug Designation (ODD) from the FDA and data from the Phase 1 trial is supportive of the Company’s decision to move to a Phase 2 imaging trial in patients with loco-regional pancreatic cancer.

Closing cash at the end of the quarter was $4.1 million, decreasing from $19.2 million at the end of the prior quarter. Net cash outflows from operating activities during the period was $14.97 million with direct Research and Development expenditure and staff costs accounting for 95% of the operating activities.

Following the close of the quarter, the Company received its FY25 Australian R&D Tax Incentive of $5.9 million and also completed a $12.5 million institutional offer and launched a $6 million Share Purchase Plan which is already subscribed for up to $3 million.

In compliance with Listing Rule 4.7C, payments to related parties and their associates, as detailed in item 6.1 of Appendix 4C, encompass remuneration for director fees to executive and non-executive directors, conducted in the ordinary course of business at commercial rates, excluding reimbursements for out-of-pocket expenses.

Radiopharm Theranostics is a clinical stage radiotherapeutics company developing a world-class platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications in areas of high unmet medical need. Radiopharm is listed on ASX (RAD) and on NASDAQ (RADX). The company has a pipeline of distinct and highly differentiated platform technologies spanning peptides, small molecules and monoclonal antibodies for use in cancer. The clinical program includes one Phase 2 and five Phase 1 trials in a variety of solid tumor cancers including lung, breast, and brain metastases. Learn more at radiopharmtheranostics.com.

Authorized on behalf of the Radiopharm Theranostics Board of Directors by Executive Chairman Paul Hopper.

In accordance with Listing Rule 4.7C, payments made to related parties and their associates included in items 6.1 of the Appendix 4C includes compensation and director fee related payments in the normal course of business at commercial rates, excluding reimbursements of out-of-pocket expenses.

8.6.2

Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer: The Board is continuing to assess alternative capital sources, and the Directors believe that the Company can raise sufficient capital in the form of equity financing and or non-dilutive inflows. In December 2025 a At-The-Market Facility was set up to allow the company to draw upon US$18.9 million for the issue of ADR’s.

Subsequent to 30 June 2026, the Company received its FY25 Australian R&D Tax Incentive of $5.9 million and also completed a $12.5 million institutional offer and launched a $6 million Share Purchase Plan which is already subscribed for up to $3 million.

In addition, the Company has and will continue to employ cash management strategies such as delaying discretionary operating activities.

8.6.3

Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: Yes, the Board expects to be able to continue its operations and to meet its business objectives based on the responses detailed in 8.6.1 and 8.6.2.

Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.

	·	In July 2026, the Company announced that RAD 101 had met its primary endpoint, with 93% of patients treated with RAD 101 achieving concordance with MRI imaging. Additionally, an interim analysis of 14 patients from six-month follow-up and biopsy shows 86% (12/14) sensitivity.

	●	The Company anticipates the initiation of a Phase 3, multi-center, multi-country registrational study in Q4 2026. Siemens Healthineers will manufacture and distribute doses of 18F-labeled RAD-101 through a partnership to support the Phase 3 registrational trial.

Name of entity
Radiopharm Theranostics Limited
ABN		Quarter ended (“current quarter”)
57 647 877 889		30 June 2026

Consolidated statement of cash flows		Current quarter $A’000	Year to date (12 months) $A’000
1.	Cash flows from operating activities
1.1	Receipts from customers	93	536
1.2	Payments for
	(a) research and development	(12,225)	(43,381)
	(b) product manufacturing and operating costs	-	-
	(c) advertising and marketing	(56)	(392)
	(d) leased assets	-	-
	(e) staff costs	(2,335)	(11,016)
	(f) administration and corporate costs	(727)	(4,234)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	71	485
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Government grants and tax incentives	-	4,485
1.8	Other – GST refunded	207	954
1.9	Net cash from / (used in) operating activities	(14,972)	(52,563)

Consolidated statement of cash flows		Current quarter $A’000	Year to date (12 months) $A’000
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a) entities	-	-
	(b) businesses	-	-
	(c) property, plant and equipment	-	-
	(d) investments	-	-
	(e) intellectual property	-	-
	(f) other non-current assets	-	-
2.2	Proceeds from disposal of:
	(a) entities	-	-
	(b) businesses	-	-
	(c) property, plant and equipment	-	-
	(d) investments	-	-
	(e) intellectual property	-	-
	(f) other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other - payments of license fee liabilities	(109)	(5,421)
2.6	Net cash from / (used in) investing activities	(109)	(5,421)

3.	Cash flows from financing activities
3.1	Proceeds from issues of equity securities (excluding convertible debt securities)	-	35,263
3.2	Proceeds from issue of convertible debt securities	-	-
3.3	Proceeds from exercise of options	-	-
3.4	Transaction costs related to issues of equity securities or convertible debt securities	-	(2,109)
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and borrowings	-	-
3.8	Dividends paid	-	-
3.9	Other – (provide details if material)	-	-
3.10	Net cash from / (used in) financing activities	-	33,154

Consolidated statement of cash flows		Current quarter $A’000	Year to date (12 months) $A’000
4.	Net increase / (decrease) in cash and cash equivalents for the period
4.1	Cash and cash equivalents at beginning of period	19,238	29,117
4.2	Net cash from / (used in) operating activities (item 1.9 above)	(14,972)	(52,563)
4.3	Net cash from / (used in) investing activities (item 2.6 above)	(109)	(5,421)
4.4	Net cash from / (used in) financing activities (item 3.10 above)	-	33,154
4.5	Effect of movement in exchange rates on cash held	(20)	(150)
4.6	Cash and cash equivalents at end of period	4,137	4,137

ASX Listing Rules Appendix 4C (17/07/20)	Page 1
+ See chapter 19 of the ASX Listing Rules for defined terms.

ASX Listing Rules Appendix 4C (17/07/20)	Page 2
+ See chapter 19 of the ASX Listing Rules for defined terms.

5.	Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1	Bank balances	4,137	19,238
5.2	Call deposits	-	-
5.3	Bank overdrafts	-	-
5.4	Other (provide details)	-	-
5.5	Cash and cash equivalents at end of quarter (should equal item 4.6 above)	4,137	19,238

6.	Payments to related parties of the entity and their associates	Current quarter $A’000
6.1	Aggregate amount of payments to related parties and their associates included in item 1	443
6.2	Aggregate amount of payments to related parties and their associates included in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.

ASX Listing Rules Appendix 4C (17/07/20)	Page 3
+ See chapter 19 of the ASX Listing Rules for defined terms.

7.	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
7.1	Loan facilities	-	-
7.2	Credit standby arrangements	-	-
7.3	Other (please specify)	-	-
7.4	Total financing facilities	-	-

7.5	Unused financing facilities available at quarter end		-
7.6	Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.
	N/A

8.	Estimated cash available for future operating activities	$A’000
8.1	Net cash from / (used in) operating activities (item 1.9)	(14,972)
8.2	Cash and cash equivalents at quarter end (item 4.6)	4,137
8.3	Unused finance facilities available at quarter end (item 7.5)	-
8.4	Total available funding (item 8.2 + item 8.3)	4,137

8.5	Estimated quarters of funding available (item 8.4 divided by item 8.1)	0.28
Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5.
8.6	If item 8.5 is less than 2 quarters, please provide answers to the following questions:
	8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

	-	Partial Response in Phase 1 Trial of RAD204

	-	Positive Phase 2b trial results of RAD101

	-	Initial Findings from Phase 1 177Lu-RAD202 Trial

ASX Listing Rules Appendix 4C (17/07/20)	Page 4
+ See chapter 19 of the ASX Listing Rules for defined terms.

ASX Listing Rules Appendix 4C (17/07/20)	Page 5
+ See chapter 19 of the ASX Listing Rules for defined terms.

Date:	31 July 2026

Authorised by:	The Board

	(Name of body or officer authorising release – see note 4)

ASX Listing Rules Appendix 4C (17/07/20)	Page 6
+ See chapter 19 of the ASX Listing Rules for defined terms.