Prima Biomed Australian Cancer Treatment Company ASX Announcement Release Code: PRR 13 May 2013 ENTITLEMENT OFFER PROSPECTUS AND APPENDIX 3B Prima BioMed Ltd ABN 90 009 237 889 (Company or Prima) is pleased to provide th

Prima Biomed Australian Cancer Treatment Company ASX Announcement Release Code: PRR 13

May 2013 ENTITLEMENT OFFER PROSPECTUS AND APPENDIX 3B Prima BioMed Ltd ABN 90 009 237 889 (Company or Prima) is pleased to provide the prospectus (Prospectus) relating to its recently announced entitlement offer of options (Entitlement Offer) which

was lodged with the Australian Securities and Investments Commission (ASIC) earlier today. The Entitlement Offer is an offer to the Company s eligible existing shareholders (as that term is defined in the Prospectus) to acquire options

(Options) on the basis of 1 Option for every 4 shares held on the Entitlement Offer record date of 5.00 pm on Tuesday, 21 May 2013. Prima wishes to advise that the Prospectus, together with a personalised entitlement and acceptance form, is expected

to be mailed to eligible existing shareholders on Friday, 24 May 2013. Should shareholders have any questions about the Entitlement Offer, please contact the Company s shareholder enquiry line on 1300 737 760 (within Australia) or +61 2 9290

9600 (outside Australia). An Appendix 3B in relation to Entitlement Offer and a notice to holders of unquoted options in the Company are also attached. It is important that each shareholder carefully review the Prospectus as well as all Company

information as announced to ASX. Shareholders should seek independent and qualified legal and/or financial advice before making an investment. Yours sincerely Deanne Miller General Counsel Company Secretary About Prima BioMed Prima BioMed

is a globally active leader in the development of personalized bio-therapeutic products for cancer. Prima is dedicated to leveraging its technology and expertise to bring innovative treatment options to market for patients and to maximize value to

shareholders. Prima s lead product is CVac , an autologous dendritic cell-based product currently in clinical trials for ovarian cancer patients in remission and soon to be in trials for other cancer types.

The Prospectus is available and copies can be obtained by calling the Company s shareholder enquiry line between 8.15 am and 5.30 pm (Sydney time) during the period from and including the date on which the Entitlement Offer opens until and

including the date on which the Entitlement Offer closes on 1300 737 760 (from within Australia) or +61 2 9290 9600 (from outside Australia). Offers of Options under the Entitlement Offer will be made in, or accompanied by a copy of, the Prospectus.

Prospective investors should consider the Prospectus in deciding whether to acquire Options under the Entitlement Offer. Prospective investors who want to acquire Options under the Entitlement Offer will need to complete an application form that is

in or accompanies the Prospectus. The information contained in this announcement does not constitute an offer to sell securities or the solicitation of an offer to buy, or recommendation for investment in, any securities or financial products within

the United States or any other jurisdiction and does not and will not form any part of any contract for the acquisition of shares in the Company. In the United States, securities may not be sold absent registration or an exemption from registration

under the Securities Act. The information in this announcement is not intended as financial advice. Moreover, none of the information in this announcement is intended as a prospectus within the meaning of the applicable laws of any jurisdiction and

this announcement is not directed to any person in any country in which the distribution of such information is unlawful. Moreover, you should be aware of the fact that investments in undertakings, securities or other financial instruments involve

risks. Past results do not guarantee future performance. This announcement contains certain forward-looking statements. The words intends , expected , proposed , forecast , target ,

and will and other similar expressions are intended to identify forward looking statements. Forward-looking statements, opinions and estimates provided in this announcement are based on assumptions and contingencies which are subject to

change without notice. Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no assurance that actual outcomes will not differ materially from

these statements. This dates referred to in this announcement are indicative only and subject to change. Prima reserves the right, subject to the listing rules of the ASX and the Corporations Act, to alter the dates at its discretion, without prior

3.10.3, 3.10.4, 3.10.5 Appendix 3B New issue announcement, application for quotation of additional securities and agreement Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX

become ASX s property and may be made public. Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13 Name of entity Prima BioMed Ltd (Company) ABN 90 009 237 889

We (the entity) give ASX the following information. Part 1 - All issues You must complete the relevant sections (attach sheets if there is not enough space). 1 +Class of +securities issued or to be issued 2 Number of +securities issued or to be

issued (if known) or maximum number which may be issued Quoted options to acquire ordinary shares in the Company (each, an Option). Approximately 315,599,617 Options (subject to the effects of rounding, among other things) under a non-renounceable

pro rata entitlement offer of 1 Option for every 4 shares in the Company held on the record date (Entitlement Offer). For further detail in relation to the precise number of Options that may be issued under the Entitlement Offer please see

paragraphs 3 and 4 of Section 3 of the prospectus prepared in connection with the Entitlement Offer and lodged with ASIC and given to ASX on or about the date of this Appendix 3B (Prospectus). + See chapter 19 for defined terms. 04/03/2013 Appendix

Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion) 4 Do the

+securities rank equally in all respects from the +issue date with an existing +class of quoted +securities If the additional +securities do not rank equally, please state: the date from which they do the extent to which they participate for the

next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 6 Purpose of the

issue (If issued as consideration for the acquisition of assets, clearly identify those assets) The principal terms of the Options include: - Issue price: A$0.02; - Exercise price: A$0.20; and - Expiry date: on or before 5.00 pm (Sydney time) on

Monday, 19 June 2017. Each Option is exercisable for one ordinary share in the capital of the Company. No. New shares issued upon the exercise of Options will however rank equally in all respects with existing shares from the date of issue. A$0.02

per Option. As set out in the Prospectus, the gross proceeds of the Entitlement Offer (and together with the gross proceeds of the SPP (defined below), which is currently being conducted by the Company) will be used to: - co-fund up to three phase 2

trials of CVac in additional cancer indications and continue the ongoing clinical program; - continue CVac manufacturing optimisation programs to move toward a commercially successful and global product manufacturing platform; - provide general

working capital for the Company and add security to the balance sheet; and - pay the costs of the Entitlement Offer (and the SPP).

entity an +eligible entity that has obtained security holder approval under rule 7.1A If Yes, complete sections 6b 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i 6b The date the security holder

resolution under rule 7.1A was passed 6c Number of +securities issued without security holder approval under rule 7.1 6d Number of +securities issued with security holder approval under rule 7.1A 6e Number of +securities issued with security holder

approval under rule 7.3, or another specific security holder approval (specify date of meeting) 6f Number of +securities issued under an exception in rule 7.2 6g If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as

calculated under rule 7.1A.3 Include the +issue date and both values. Include the source of the VWAP calculation. 6h If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released

to ASX Market Announcements 6i Calculate the entity s remaining issue capacity under rule 7.1 and rule 7.1A complete Annexure 1 and release to ASX Market Announcements No. N/A. N/A. N/A. N/A. N/A. N/A. \ N/A. N/A. + See chapter 19 for

defined terms. 04/03/2013 Appendix 3B Page 3

dates Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item

33 of Appendix 3B. 8 Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable) 9 Number and +class of all +securities not quoted on ASX (including the +securities in section 2 if applicable) It is

expected that the issue date for the Options to be issued under the Entitlement Offer will be Tuesday, 18 June 2013. Number +Class 1,066,063,388 Ordinary fully paid shares (ASX: PRR). Up to approximately Options (ASX: 315,599,617 PRRO). Number

+Class - Options Amount Exercise Price Expiration Date ASX Code 1,884,253 $0.2685 9 November 2014 PRRAS 1,884,253 $0.2360 8 December 2014 PRRAU 1,061,411 $0.2271 12 January 2015 PRRAY 1,118,211 $0.2345 12 February 2015 PRRAW 1,075,269 $0.2277 18

March 2015 PRRAZ 500,000 $0.2500 6 May 2015 PRRAC 1,055,011 $0.2351 19 May 2015 PRRAD 32,500,000 $0.2000 6 December 2013 PRRAL 2,000,000 $0.1000 6 December 2014 PRRAL 500,000 $0.1000 26 August 2014 PRRAL 740,741 $0.3390 1 February 2016 PRRAL 100,000

$0.2790 3 November 2014 PRRAL 100,000 $0.2329 3 January 2015 PRRAL 2,800,000 $0.1850 1 August 2015 PRRAL 200,000 $0.1730 20 February 2016 PRRAL 47,519,149 Total 10 Dividend policy (in the case of a trust, distribution policy) on the increased

capital (interests) No change. Part 2 - Pro rata issue 11 Is security holder approval required 12 Is the issue renounceable or non-renounceable 13 Ratio in which the +securities will be offered No. Non-renounceable. 1 Option for every 4 shares held

of +securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements 17 Policy for deciding entitlements in relation to fractions 18

Names of countries in which the entity has security holders who will not be sent new offer documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of

acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue Quoted options to acquire ordinary shares in the Company. 5.00 pm (Sydney time) on Tuesday, 21 May 2013.

No. Where fractions arise in the calculation of entitlements, they will be rounded up to the nearest number of Options. All countries except Australia and New Zealand and such other jurisdictions into which the Company decides to make offers under

applicable exceptions from the requirement to issue a prospectus in those jurisdictions. It is expected that the closing time and date for receipt of acceptances under the Entitlement Offer will be 5.00 pm (Sydney time) on Friday, 7 June 2013. N/A.

N/A. Ord Minnett Limited (Manager). + See chapter 19 for defined terms. 04/03/2013 Appendix 3B Page 5

commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders 25 If the issue is contingent on security holders approval, the date of the

meeting 26 Date entitlement and acceptance form and offer documents will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to

option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do security holders sell their entitlements in full through a broker 31 How do security holders sell part of their entitlements

through a broker and accept for the balance 32 How do security holders dispose The Company has agreed to pay the Manager a fixed fee of $150,000 (excluding GST and disbursements) in relation to the services provided by the Manager in connection with

the Entitlement Offer and share purchase plan (the full terms of which are set out in the SPP offer booklet given to ASX on 11 April 2013) (SPP). The Manager will also receive a fee equivalent to 5% (excluding GST) of the value of any shortfall from

the Entitlement Offer and SPP placed by the Company with the assistance of the Manager. N/A. N/A. The Prospectus and personalised entitlement and acceptance form is expected to be sent to eligible shareholders on Friday, 24 May 2013. Monday, 13 May

2013. N/A. N/A. N/A. N/A. N/A.

entitlements (except by sale through a broker) 33 +Issue date It is expected that the issue date for the Options to be issued under the Entitlement Offer will be Tuesday, 18 June 2013. Part 3 - Quotation of securities You need only complete this

section if you are applying for quotation of securities 34 Type of +securities (tick one) (a) +Securities described in Part 1 (b) All other +securities Example: restricted securities at the end of the escrowed period, partly paid securities that

become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities Entities that have ticked box 34(a) Additional securities forming a new class of securities Tick to

indicate you are providing the information or documents 35 If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders 36

If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37 A copy of any trust deed

for the additional +securities Entities that have ticked box 34(b) 38 Number of +securities for which +quotation is sought + See chapter 19 for defined terms. 04/03/2013 Appendix 3B Page 7

of +securities for which quotation is sought 40 Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities If the additional +securities do not rank equally, please state: the date from which

they do the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest

payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another +security, clearly identify that other +security) 42 Number and +class of all +securities

quoted on ASX (including the +securities in clause 38) Number +Class Quotation agreement 1 +Quotation of our additional +securities is in ASX s absolute discretion. ASX may quote the +securities on any conditions it decides. 2 We warrant the

following to ASX. The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

no reason why those +securities should not be granted +quotation. An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act. Note: An entity

may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any

+securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted. If we are a trust, we warrant that no

person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted. 3 We will indemnify ASX to the fullest extent permitted by law in respect of any

claim, action or expense arising from or connected with any breach of the warranties in this agreement. 4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX

before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete. Sign here: Print name: Company secretary Deanne Miller Date: 13 May 2013 + See

chapter 19 for defined terms. 04/03/2013 Appendix 3B Page 9

Biomed Ltd Australian Cancer Treatment Conpany Level 7, 151 Macquarie Street Sydney NSW 2000 Australia 13 May 2013 Dear Holder of Unquoted Options Prima BioMed Ltd Notice to holders of Unquoted Options The option register for Prima BioMed Ltd

ABN 90 009 237 889 (Company) indicates that you are the holder of unquoted options (Unquoted Options) to acquire fully paid ordinary shares (Shares) in the capital of the Company. In accordance with paragraph 3 of Appendix 7A of the ASX Listing

Rules, notice is hereby given that the Company is conducting a non-renounceable rights issue of new options (New Options) to acquire new Shares (Entitlement Offer). The Entitlement Offer entitles Eligible Shareholders (as that term is defined in the

prospectus issued by the Company in connection with the Entitlement Offer (Prospectus)), to acquire, at the offer price of $0.02 per New Option, 1 New Option for every 4 Shares as at the Record Date. As a holder of Unquoted Options, you are only

permitted to participate in the Entitlement Offer (with respect to your Unquoted Options) if you: exercise your existing Unquoted Options (including making payment of the relevant exercise amount) and are registered as a Shareholder by 5.00 pm

(Sydney time) on Tuesday, 21 May 2013 (Record Date); have a registered address on the Company s Share register in either Australia or New Zealand (and where you have a registered address in New Zealand, continue to be a registered holder of

Shares as at 9.00 am (Sydney time) on Monday, 27 May 2013 (the time that the Entitlement Offer opens)); and are otherwise an Eligible Shareholder. The Prospectus is available and copies can be obtained by calling the Company s shareholder

enquiry line on 1300 737 760 any time between 8.15 am and 5.30 pm (Sydney time) during the period from and including the date on which the Entitlement Offer opens until and including the date on which the Entitlement Offer closes. Offers of New

Options under the Entitlement Offer will be made in, or accompanied by a copy of the Prospectus. Prospective investors should consider the Prospectus in deciding whether to acquire New Options under the Entitlement Offer. Prospective investors who

want to acquire New Options under the Entitlement Offer will need to complete an application form that is in or accompanies the Prospectus.

sincerely Deanne Miller General Counsel & Company Secretary About Prima BioMed Prima BioMed is a globally active leader in the development of personalised bio-therapeutic products for cancer. Prima BioMed is dedicated to leveraging its

technology and expertise to bring innovative treatment options to market for patients and to maximise value to shareholders. Prima BioMed s lead product is CVac , an autologous dendritic cell-based product currently in clinical trials for

ovarian cancer patients in remission and soon to be in trials for other cancer types. Disclaimer The information contained in this notice does not constitute an offer to sell securities or the solicitation of an offer to buy, or recommendation for

investment in, any securities or financial products within the United States or any other jurisdiction and does not and will not form any part of any contract for the acquisition of securities in the Company. In the United States, securities may not

be sold absent registration or an exemption from registration under the Securities Act. The information in this notice is not intended as financial advice. Moreover, none of the information in this notice is intended to constitute a prospectus

within the meaning of the applicable laws of any jurisdiction and this notice is not directed to any person in any country in which the distribution of such information is unlawful. Moreover, you should be aware of the fact that investments in

undertakings, securities or other financial instruments involve risks. Past results do not guarantee future performance. This notice contains certain forward-looking statements. The words intends , expected ,

proposed , forecast , target , and will and other similar expressions are intended to identify forward looking statements. Forward-looking statements, opinions and estimates provided in this notice are

based on assumptions and contingencies which are subject to change without notice. Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no

assurance that actual outcomes will not differ materially from these statements. This dates referred to in this notice are indicative only and subject to change. The Company reserves the right, subject to the ASX Listing Rules and the Corporations

Act, to alter the dates at its discretion, without prior notice.

Biomed Ltd Australian Cancer Treatment Conpany Prospectus Prima BioMed Ltd ABN 90 009 237 889 (PRR or Company) Details of a 1 for 4 non-renounceable entitlement offer (Entitlement Offer) of new options (Options) to acquire new fully paid ordinary