ESSA PHARMA INC. STATEMENT OF EXECUTIVE COMPENSATION (for the year ended

STATEMENT OF EXECUTIVE COMPENSATION

(for the year ended September 30,

The following information is presented

in accordance with National Instrument 51-102 - Continuous Disclosure Obligations and Form 51-102F6 - Statement

of Executive Compensation ("Form 51-102F6"), and sets forth compensation for each NEO (as defined below)

and director of ESSA Pharma Inc. ("ESSA" or the "Company") during the financial year ending

September 30, 2018. This Statement of Executive Compensation is dated for reference February 19, 2019.

For the purpose of this "Statement

of Executive Compensation":

Company's board of directors;

"Clarus" means Clarus

Lifesciences III, L.P.

"Common Shares" means

common shares without par value in the capital of the Company;

"Compensation Committee"

means the compensation committee of the Board;

"independent director"

has the meaning given to such term in the listing standards of the Nasdaq;

"Nasdaq" means Nasdaq

Fund Management, LLC;

the Company's existing amended and restated stock option plan, which was approved by the Company's shareholders on

March 28, 2018 and amended by the Board on April 25, 2018;

"Options" mean stock

options to purchase Common Shares;

the Company's existing restricted share unit plan, which was approved by the Company's shareholders on March 28, 2018

and amended by the Board on April 25, 2018;

"RSUs" means restricted

share units of the Company issued under ESSA's RSU Plan;

System for Electronic Document Analysis and Retrieval;

"TSX" means the Toronto Stock Exchange;

"TSXV" means the TSX Venture Exchange.

In this Statement of Executive Compensation, unless otherwise

indicated, all dollar amounts and references to "$" are to US dollars. All references to "C$" are to Canadian

Discussion and Analysis

Named Executive Officers

The following individuals are defined

as "named executive officers" or "NEOs" pursuant to Form 51-102F6 - Statement of

Executive Compensation:

Each of Dr. David Parkinson, President

and CEO, David S. Wood, CFO, Peter Virsik, Executive Vice President and Chief Operating Officer ("EVP & COO"),

Dr. Raymond Andersen, Chief Technology Officer ("CTO"), and Dr. Marianne Sadar, Chief Scientific Officer ("CSO"),

is or was an NEO of the Company during the fiscal year ended September 30, 2018 for purposes of this disclosure.

Summary of Compensation

The following table sets forth all annual

and long-term compensation for services paid to or earned by the named executive officers for the three most recently completed

Compensation Discussion and Analysis

The following table and graph compare

the cumulative total shareholder return on C$100 invested in Common Shares of the Company with C$100 invested in the S&P/TSX

Composite Index from January 27, 2015 (the day the Common Shares were listed on the TSXV) to September 30, 2018 (the Company's

most recent financial year end). The below historic shareholder return data is on a post-Consolidation (as defined below) basis,

with the Consolidation being given retroactive effect to the beginning of the comparative period. All dollar amounts are reflected

in Canadian dollars.

The trend in overall compensation paid

to the NEOs over the past four years has generally not tracked the performance of the market price of the Common Shares, nor has

it tracked the S&P/TSX Composite Index during the period. The Company has not included market price targets of the Common Shares

as a component of the Company's Executive Compensation Program (as defined below) and strategy.

Compensation Committee

The Compensation Committee is comprised

of Scott Requadt (Chair), Richard Glickman and Otello Stampacchia. The Compensation Committee is responsible for reviewing the

compensation plans and severance arrangements for management, to ensure they are commensurate with comparable companies. The Compensation

The Compensation Committee members have

the necessary expertise to enable them to make decisions on the suitability of the Company's policies and practices. All

members of the board have significant experience in the pharmaceutical industry and on other boards. Additionally, Richard Glickman

and Scott Requadt have direct experience relevant to their responsibilities on the Compensation Committee as they currently serve,

or have served in the past, on compensation committees of other publicly traded companies and are familiar with remuneration in

ESSA's industry. The Board is satisfied that the composition of the Compensation Committee ensures an objective process for

determining compensation.

Compensation Committee Members

Scott Requadt, Director

Mr. Requadt, LL.B, MBA, has served as

a director of the Company since January 14, 2016. He is currently CEO of Regenerex, Inc., a privately-held company focused on cell

therapy. He was a Managing Director at Clarus Ventures, LLC, a life sciences investment capital fund (now Blackstone Life Sciences)

from 2005 to 2018 and remains a Venture Partner. Mr. Requadt was nominated to the Board of the Company pursuant to certain nomination

rights held by Clarus. Mr. Requadt has over 17 years of operating and investment experience in the pharmaceutical industry. Prior

to joining Clarus in 2005, Mr. Requadt was Director, Business Development of TransForm Pharmaceuticals, and previously practiced

for several years as a mergers and acquisitions attorney at the New York City-based law firm of Davis Polk & Wardwell. Before

that, Mr. Requadt was a law clerk for a senior judge at the Supreme Court of Canada. Mr. Requadt holds a B.Com (Economics &

Finance) from McGill University, an LL.B from University of Toronto and an MBA from Harvard Business School (Baker Scholar). Mr.

Requadt has been involved in multiple Clarus investments spanning both therapeutics and medtech, including Intercept Pharmaceuticals

as well as several research and development risk-sharing collaborations with large pharmaceutical partners. He has previously been

active on the board of directors of AVROBIO Inc., TyRx Inc., Catabasis Pharmaceuticals Inc., Oxford Immunotec Global PLC, Link

Medicine Corp., Biolex Therapeutics Inc., and VBI Vaccines.

Mr. Richard M. Glickman has served as

the Chairman of the Board of the Company since October 2010. As the Chairman of the Board, Mr. Glickman is responsible for the

management of the Board to ensure the Company has appropriate objectives and an effective strategy, and that it is operating in

accordance with a high standard of corporate governance. Mr. Glickman was a co-founder, Chairman and Chief Executive Officer of

Aspreva Pharmaceuticals Inc. ("Aspreva") which was acquired by the Galenica Group for $915 million. Prior to

establishing Aspreva, Mr. Glickman was the co-founder and Chief Executive Officer of StressGen Biotechnologies Corporation. Mr.

Glickman currently serves on the Board of Directors of Correvio Pharma Corp. (formerly Cardiome Pharma Corp.) as a member of the

Compensation and Audit Committees and as its lead independent director. In addition, Mr. Glickman serves as Chairman of the Board

and CEO of Aurinia Pharmaceuticals Inc., as Chairman of the Board of Engene Corporation and as a Director of Vida Pharmaceuticals.

Dr. Glickman has served on numerous biotechnology and community boards, including as a member of the Canadian federal government's

National Biotechnology Advisory Committee, Director of the Canadian Genetic Disease Network, Chairman of Life Sciences B.C. and

a member of the British Columbia Innovation Council. Mr. Glickman is the recipient of numerous awards including the Ernst and Young

Entrepreneur of the Year, a recipient of both BC and Canada's Top 40 under 40 award, the BC Lifesciences Leadership Award

and the Corporate Leadership Award from the Lupus Foundation of America.