Announcement PDF ASX:PAB INVESTOR PRESENTATION · OCTOBER 2026 Bridg ing Gaps in Therapeutic Care Developing the potential first treatment for delirium approved broadly In the clinic Known molecule FDA 505(b)(2) pathway Global unmet need patrys.com Disclaimer Patrys Limited (ASX:PAB) 2 The following material is for general information purposes only and is not to be relied upon for the making of an investment decision. Any investment in Patrys Limited ACN 123 055 363 (Patrys) is subject to investment risk including the possibility of loss of capital invested and no return of income or payment of dividends. Neither Patrys nor any other entity or person in or associated with the Patrys group of companies guarantees any return (whether capital or income) or generally the performance of Patrys or the price at which its securities may trade. In particular, this presentation is not a recommendation, offer or invitation to subscribe for or purchase Patrys securities. It is not for general distribution or third party reliance or use. While it has been prepared from sources Patrys believe to be reliable, Patrys cannot guarantee its accuracy or completeness and undertakes no obligation to advise of changes or updates to any such materials. These materials are not exhaustive of all of the information a potential investor or their professional adviser would require. Nor do these materials take into account any specific objectives, financial situation or needs of investors. In addition, the past performance of Patrys cannot be assumed as indicative of the future performance of the company. For these and other reasons, before making any investment decision regarding Patrys securities you are strongly recommended to obtain your own up to date independent legal, financial and investment advice – those acting without such advice do so at their own risk. Where this presentation does contain any forward looking statements, those statements are only made as the date of the presentation and are to be considered “at-risk statements” not to be relied upon as they are subject to further research and to known and unknown risks, uncertainties and other factors that may lead to actual results differing from any forward looking statement. This is particularly the case with companies such as Patrys which operate in the field of researching, discovering, developing, and commercialising potential drugs intended for safe and effective for human treatments or therapies. Targets and timelines are subject to regulatory and ethics approvals and are not guarantees. Patrys at a Glance ¹Ely EW et al. JAMA 2004;291(14):1753–62. ²Patrys estimate. ³Target only, subject to regulatory approvals. Patrys Limited (ASX:PAB) 3 RLS-2202: proprietary IV quetiapine for delirium in acute care. Leveraging an established blockbuster molecule, and now in the clinic. UNMET NEED ~80% of ventilated ICU patients developed delirium¹ LARGE MARKET >US$2B estimated serviceable addressable market per year² PROTECTED IP ~2042 patent protection for the new IV formulation CLEAR PATHWAY Q1 2027 target FDA pre-IND submission on the 505(b)(2) pathway3 Delirium: The Hidden Crisis in Acute Care *Tomlinson et al., Drugs Aging 2024;41:455–486. ¹Ely EW et al., JAMA 2004;291(14):1753–62 (224 ventilated ICU patients). ²Dziegielewski et al., Crit Care Res Pract 2021:6612187. 3Richardson et al., Age and Ageing 2021; 50: 914–920 Patrys Limited (ASX:PAB) 81.7% of ventilated ICU patients developed delirium¹ 3.2× higher adjusted 6-month mortality risk¹ +7 days longer in hospital² 2–3× higher ICU and hospital costs² 8–9× higher risk of developing Dementia3 4 A g lobal opportunity with no approved therapy * Patrys Limited (ASX:PAB) 5 MARKET >US$2B estimated serviceable addressable market, per year¹ RLS-2202 is positioned as the potential first widely approved therapy for delirium. ICU *No approved acute-care therapy; 8 of 27 EU states approve IM haloperidol for delirium in limited circumstances. ¹Patrys estimate 4 COMMON ACROSS ACUTE CARE* Intensive care 30–80% Palliative care 22–62% Aged care 15–40% No Approved Treatment, Only Workarounds* *Only in 8 of 27 EU member states IM haloperidol is approved for delirium, and only where non-pharmacological approaches fail (not for prevention or post-operative delirium). Patrys Limited (ASX:PAB) 6 WHAT CLINICIANS HAVE Off-label oral tablets, designed for chronic psychiatric conditions Off-label injectables, designed for sedation or psychosis that don’t work THE GAP WHAT ACUTE CARE NEEDS A rapid IV option for agitated, sedated or ventilated patients RLS-2202 is designed to fill this gap. Quetiapine: A Blockbuster, Optimised for Acute care Seroquel® is a registered trademark of the AstraZeneca group of companies; Patrys is not affiliated with AstraZeneca. FDA approval for schizophrenia, 1997. Sales: Seroquel IR + XR, 2011, as reported by AstraZeneca (via Statista). Patrys Limited (ASX:PAB) 7 From oral tablet to IV injection Proprietary intravenous quetiapine RLS-2202, designed designed for rapid, predictable treatment. Intensive care Palliative care Aged care LEVERAGING ASTRAZENECA’S SEROQUEL® 1997 First FDA approval US$5.83bn Seroquel® sales in 2011 Decades of clinical use Why IV: Straig ht to the Bloodstream ¹SEROQUEL® (quetiapine) US prescribing information: peak plasma concentrations in 1.5 hours; extensively metabolised by the liver. ²Design objectives; IV pharmacokinetics and dosing are being assessed in the Phase 1A trial. Patrys Limited (ASX:PAB) 8 Oral tablet Off-label today Swallow Gut absorption Liver first-pass Bloodstream Brain Needs a patient who can swallow; peak levels about 1.5 hours after a dose¹ RLS-2202 Intravenous IV injection Gut and liver first-pass bypassed Bloodstream Brain Designed for rapid onset, titratable dosing; can be used in patients who cannot swallow² Desig ned to Fit the Clinical Workflow ¹Alghadeer et al., 2024. Initial target product profile: ICU and post-operative delirium. Patrys Limited (ASX:PAB) 9 RLS-2202 is designed to replace today’s off- label treatments within the existing ICU and post label - operative workflow. 46.8% of delirium patients given an antipsychotic received quetiapine, the most used (n=47)¹ Pre-operative nursing Fasting Intra-operative Anaesthesia, many medicines Intensive care (ICU) Delirium screening and treatment Post-operative care Hospital discharge After discharge Rehabilitation Poorly managed delirium delays physical therapy, ICU and hospital discharge, adding cost to the health system. Wholly owned IP, protected to ~ 2042 *If patent protection is granted, subject to any extensions. Patent protection is not guaranteed Applications: PCT/AU2023/050316; Australian provisional patent 2022901032. Patrys Limited (ASX:PAB) 10 PATENT PROTECTION TO ~2042 * * WHAT THE PATENT APPLICATIONS COVER New formulation composition Method of use in delirium Delivery formulation US · EU/UK · Australia National phase entered Q4 2024 100% owned No trailing obligations New filing in 2026 Further provisional patent application Why Reformulation De-Risks the Opportunity *New efficacy data in delirium patients are still required, and the IV formulation itself still has to be manufactured at scale. Cost and timeline advantages are not guaranteed. Patrys Limited (ASX:PAB) 11 New Drug Reformulated Existing Drug Unknown safety profile Extensive known safety profile Full development program FDA 505(b)(2) pathway, leveraging decades of existing data* New manufacturing process to develop and scale up Quetiapine made at scale for decades* Higher cost Lower cost Longer timelines Faster timelines Precedent: Reformulations Attract Major Buyers ¹Cadence Pharmaceuticals Form 8-K, 11 Feb 2014 (approximately US$1.3 billion, fully diluted). ²Fierce Biotech, 22 Sep 2022. ³US FDA CDER, 2025. Illustrative only; not a forecast for Patrys. Patrys Limited (ASX:PAB) 12 ORAL TO IV · PAIN CARE Ofirmev® (IV paracetamol) ~US$1.3bn Mallinckrodt’s acquisition of Cadence Pharmaceuticals, maker of Ofirmev®, 2014¹ KNOWN ANTIBIOTIC · NEW USE Tebipenem HBr (Spero Therapeutics) Up to US$591M GSK licence: US$66M upfront plus up to US$525M in milestones, 2022² 47 FDA approvals via the 505(b)(2) pathway in 2025³ Familiar molecules, optimised for new settings, can attract large acquirers and partners. Path to Value: N ear-Term Catalysts All dates are targets, subject to regulatory and ethics approvals, and are not guarantees. Patrys Limited (ASX:PAB) 13 We are here Now Phase 1a Healthy volunteers: safety and PK Q1 2027 FDA pre-IND Regulatory alignment on the 505(b)(2) plan 2027 Phase 1b/2a ICU patients: safety, feasibility, first efficacy data 2028 Pivotal study Global ICU delirium registrational study Goal Approval or partnering Partnering and licensing discussions along the way NEAR-TERM CATALYSTS (TARGETS) Q4 2026 Phase 1a dosing complete Q1 2027 Phase 1a complete; FDA pre-IND submission Q2 2027 Phase 1b/2a: first patient dosed Q4 2027 Phase 1b/2a complete Q1 2028 IND submission; late-stage development begins World-Class Clinical Guidance Patrys Limited (ASX:PAB) 14 International Clinical Advisory Committee, formed September 2026 CHAIR · AUSTRALIA JI Dr Johnny Iliff Senior emergency and critical care clinician, Royal Perth Hospital and St John of God Murdoch; aeromedical consultant, Royal Flying Doctor Service UNITED STATES JD Prof John W. Devlin Chaired the 2018 SCCM PADIS ICU guidelines; past president, American Delirium Society; Professor of Pharmacy, Northeastern University NETHERLANDS MB Prof Mark van den Boogaard Professor of Nursing Science, Radboudumc ICU; developed the E- PRE-DELIRIC prediction model; Executive Board, European Delirium Association Corporate Snapshot ¹Shares on issue shown undiluted. ²Share price as at 8 October 2026. ³Cash balance per June quarterly, disclosed 22 July 2026. Patrys Limited (ASX:PAB) 15 Capital structure Shares on issue¹ 674,845,324 Share price² 3.0c Market capitalisation $20.2M Cash³ $3.36M Debt Nil Enterprise value $16.8M Board and management Dr Samantha South Chief Executive Officer Extensive CNS medical research background; founding Director and COO, Argenica Therapeutics (ASX:AGN) Peter Christie Chairman 25+ years of ASX governance and board experience; chairs multiple ASX-listed companies Brian Leedman Director Biotech entrepreneur; co-founder of ResApp Health, acquired by Pfizer; Director Blinklab (ASX:BB1) and NeuroScientific Biopharmaceuticals (ASX:NSB) Dr Anton Uvarov Director Healthcare and biotech investment specialist; former Citigroup healthcare equities analyst. Director NeuroScientific Biopharmaceuticals (ASX:NSB) and Blinklab (ASX:BB1) Leanne Kite Director 20+ years in capital markets, finance and investor relations; co-founder of Reliis Dino Cercarelli Director 20+ years leading clinical trial operations and governance; co-founder of Reliis Why Patrys, Why N ow Patrys Limited (ASX:PAB) 16 Five reasons to look at Patrys now now 1 Major unmet need, no approved treatment treatment 2 Blockbuster molecule, de-risked pathway 3 Already in the clinic 4 Near-term catalysts, continuing this quarter 5 World-class clinical advisors Patrys Limited (ASX:PAB) Proven drug, better delivery. De-risked investment. Contact Dr Samantha South, Chief Executive Officer +61 421 117 241 · info@patrys.com patrys.com