SETTLEMENT AGREEMENT This Settlement Agreement (the " Settlement Agreement ") is entered into as of

SETTLEMENT AGREEMENT

Agreement (the "Settlement Agreement") is entered into as of January 15, 2025 (the "Effective Date")

by and between IQVIA Inc. ("IQVIA"), on the one hand, and Onconetix, Inc. f/k/a Blue Water Vaccines and Blue

Water Biotech Inc. ("Onconetix"), on the other hand (collectively referred to as the "Parties"

and each a "Party"):

asserts that a balance owing for unpaid invoices exists in the amount of $194,694.26 and an early termination fee in the amount of $900,000.00

for a total balance owed of $1,094,694.26, pursuant to the Licensing and Services Master Agreement entered into by the Parties effective

as of May 8, 2005, and the Sales Force Work Order # 2983696 dated July 18, 2023 between Onconetix and IQVIA CSMS Inc. (collectively, the

denies that it owes any unpaid balance or that it is liable for the early termination fee;

Parties desire to avoid the risks and expenses attendant to litigation and to settle and resolve any and all claims (asserted or unasserted)

between the Parties, and have determined that it is desirable and beneficial to compromise and to settle said disputes and claims in the

manner and upon the terms and conditions set forth in full below, without any admission of liability by the Parties; and

of the Parties has been afforded a reasonable opportunity to consider this Settlement Agreement and the terms and conditions thereof,

and each has consulted counsel in connection with the negotiation and review of this Settlement Agreement.

in consideration of the mutual promises, covenants and agreements set forth herein, the receipt and sufficiency of which are hereby acknowledged,

and subject to the terms and conditions set forth below, the Parties agree as follows:

Payment. Onconetix agrees to pay, or to cause to be paid, to IQVIA a total of One Hundred Fifty Thousand Dollars ($150,000.00)

(the "Settlement Amount") by wire transfer to the Leviton Law Firm in the following account:

Bank Account Number:

Payment of the Settlement Amount shall be on or before January

Mutual Releases. Notwithstanding the provisions of any law stating that a general release does not extend to claims that

a party does not know of or suspect to exist in its favor at the time of executing the release, upon Onconetix's payment of the

Settlement Amount, and for and in consideration of the covenants made herein, as of the Effective Date :

Release of Onconetix by IQVIA. IQVIA, on behalf of itself and its predecessors, successors, assigns, affiliates, subsidiaries,

agents, owners, representatives, officers, directors, employees, administrators and trustees (the "IQVIA Releasors"),

does hereby irrevocably release, acquit and forever discharge Onconetix, and each of its predecessors, successors, assigns, affiliates,

subsidiaries, agents, owners, representatives, current or former officers, directors, employees, administrators and trustees (the "Onconetix

Releasees"), of and from any and all debts, suits, claims, actions, causes of action, controversies, demands, rights, damages,

losses, expenses, costs, attorney's fees, compensation, liabilities and obligations whatsoever, in law or in equity, whether currently

known or unknown, it may have had or has from the beginning of time to the date of this Settlement Agreement, including, but not limited

to such debts, suits, claims, actions, causes of action, controversies, demands, rights, damages, losses, expenses, costs, attorney's

fees, compensation, liabilities and obligations arising from or that relate in any way to the Agreement. This release does not extend

to claims relating to obligations arising out of or created by this Settlement Agreement

of IQVIA by Onconetix. Onconetix, on behalf of itself and each of its representatives, officers, directors, employees,

administrators and trustees (the "Onconetix Releasors"), does hereby irrevocably release, acquit and

forever discharge IQVIA, and each of its predecessors, successors, assigns, affiliates, subsidiaries, agents, owners,

representatives, current or former officers, directors, employees, administrators and trustees (the "IQVIA

Releasees"), of and from any and all debts, suits, claims, actions, causes of action, controversies, demands, rights,

damages, losses, expenses, costs, attorney's fees, compensation, liabilities and obligations whatsoever, in law or in equity,

whether currently known or unknown, it may have had or has from the beginning of time to the date of this Settlement Agreement,

including, but not limited to such debts, suits, claims, actions, causes of action, controversies, demands, rights, damages, losses,

expenses, costs, attorney's fees, compensation, liabilities and obligations arising from or that relate in any way to the

Agreement. This release does not extend to claims relating to obligations arising out of or created by this Settlement

Waiver of Civil Code Section 1542. The Parties acknowledge that they are familiar with the provisions of Section 1542 of

the California Civil Code and expressly agree that this Settlement Agreement shall constitute a waiver and release of any claims that

they may have against the other. Section 1542 of the California Civil Code provides as follows

A GENERAL RELEASE DOES

NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF

EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR

expressly acknowledges that each Party's respective counsel has explained the effect of a waiver of Section 1542, that each Party

understands its effect, and that each Party fully waives that section's benefits.

Confidentiality. The Parties will forever keep this Settlement Agreement, and the contents, terms and conditions of this

Settlement Agreement, in strict confidence and will not disclose or publish the contents of this Settlement Agreement to any other person

who is not a Party except (i) as may be reasonably necessary to enforce the terms and conditions of this Settlement Agreement, (ii) to

their respective counsel, (iii) as otherwise required by law or court order, (iv) to a regulatory body with jurisdiction over the Parties,

when compelled to do so in response to a legally binding request thereby, (v) the Parties' accountants, auditors and insurance carriers,

or (vi) pursuant to the prior express written consent of all of the Parties. The Parties agree that in response to any inquiries, they

will state only that the matter has been resolved to their mutual satisfaction. This confidentiality provision is a material term of this

Settlement Agreement.

No Admission of Liability. The Parties recognize that the execution of this Settlement Agreement represents the compromise

of disputed claims and that the execution of this Settlement Agreement is not to be construed as an admission of liability by any Party,

which is expressly denied.

Governing Law. This Settlement Agreement and all rights, obligations and remedies hereunder will be governed and construed

in accordance with the laws of the State of Delaware, without regard to conflict of law principles. The Parties expressly waive any and

all objections they might otherwise have to the jurisdiction of the courts of the State of Delaware, including, without limitation, any

objections on the grounds of personal jurisdiction.

Future Disputes. The Parties agree that if any dispute arises regarding this Settlement Agreement, or the terms, provisions

or breach thereof, and if that dispute cannot be resolved through good faith negotiation, all disputes should be resolved only in federal

or state courts located within the State of Delaware to enforce the Settlement Agreement and resolve any disputes pertaining to it.

Attorneys' Fees and Costs. The Parties shall each bear their own costs, attorneys' fees, and other fees incurred

in connection with the Action and the preparation of this Agreement; provided, however, if any legal action is necessary to enforce or

interpret this Agreement, the substantially prevailing party shall be entitled to reasonable attorneys' fees and costs incurred

to enforce this Agreement, as well as any other relief to which it may be entitled.

9. Non-Disparagement. Each of the Parties agrees that it will not, directly or indirectly, including

through any of such Party's current, future and former officers, managers, members, partners, owners, directors, employees or agents,

disparage or impugn the character of the other Party in respect of its business performance, skills, acumen, experience, success, or integrity,

or make any disparaging comments (regardless of whether they are true or not) of a personal nature concerning any current or former member,

partner, officer or employee of any of the Parties to any third party, including the media or press. Each of the Parties further

agrees to inform its current employees that it has settled with the other Party, that the settlement is subject to a non-disparagement

clause, and that its employees should not disparage the other Party. For the avoidance of doubt, each Party has the right to correct any

disparaging statement of which it learns by making a corrective statement to the source from whom it heard the disparaging statement.

Nothing in this paragraph or otherwise

in this Agreement shall restrict any party from responding fully and truthfully to any subpoena or discovery request in any action or

proceeding, or from responding to any inquiry from any governmental, regulatory or self-regulatory agency or organization, or from making

disclosures that, in the opinion of counsel, are required under state, federal or foreign law.

Agreement. This Settlement Agreement, including the WHEREAS clauses, is an integrated agreement and constitutes and comprises

the entire agreement among the Parties with respect to the subject matter hereof. This Settlement Agreement supersedes all prior and

contemporaneous oral and written, express and implied, agreements, negotiations and discussions pertaining to the Action and to the

subject matter of this Settlement Agreement.

Modification, Amendment and Waiver. No breach of any provision hereof can be waived or discharged except in a written agreement

executed by the Parties. Waiver of any breach of any provision hereof will not be deemed to be a waiver of any other breach of the same

or any other provision hereof, at any prior or subsequent time. No provision hereof may be modified, altered, amended or terminated except

in a written agreement executed by all of the Parties.

Construction and Severability. Whenever possible, each provision of this Settlement Agreement will be interpreted in such

a manner as to be effective and valid under applicable law, but if any provision of this Settlement Agreement is deemed unenforceable

under applicable law, such provision will remain effective to the extent allowed and, notwithstanding the unenforceability of any part

or all of such provision, the remaining parts of such provision and remaining provisions of this Settlement Agreement will remain in full

Successors and Assigns. This Settlement Agreement will be binding upon and inure to the benefit of the Parties and each

of their heirs, agents, employees, representatives, partners, members, principals, parents, subsidiaries, divisions, affiliates, officers,

directors, investors, attorneys, transferors, transferees, predecessors, successors, trustees in bankruptcy, and assigns, and each and