Radiopharm Theranostics Limited Appendix 4E Preliminary final report 1. Company details Name of entity: Radiopharm Theranostics Limited ABN: 57 647 877 889 Reporting period: For the year ended 30 June 2025 Previous perio

2. Results for announcement to the market

No dividends have been paid or declared by the

group for the current financial year. No dividends were paid for the previous financial year.

No dividends have been

paid or declared by the group for the current financial year. No dividends were paid for the previous financial year.

4. Explanation of results

The group reported a

loss for the year ended 30 June 2025 of $38,342,457 (30 June 2024: $47,949,119). The decreased loss for the comparative period is due

to the decrease in fair value movements in contingent consideration and decrease in share-based payments during the year.

The group's net assets

increased to $42,871,904 (30 June 2024: $27,353,286). This is primarily due to the increase in cash due to capital raises during the year

and increase in trade and other receivables due to recognition of income associated with the tax incentive related to research and development

activities during the financial year. As at 30 June 2025, the group had cash reserves of $29,116,835 (30 June 2024: $18,575,040).

The Appendix 4E financial

report follows, with the further details to be included in the audited financial statements to be released by 30 September 2025.

5. Net tangible assets per security

6. Changes in controlled entities

On 26 August 2024, Radiopharm

announced they had increased their ownership in Radiopharm Ventures from 51% to 75%.

There have been no other changes in controlled entities during the year ended 30 June 2025.

7. Other information required by Listing Rule 4.3A

a. Details of individual

and total dividends or distributions and dividend or distribution payments: N/A

b. Details of any dividend

or distribution reinvestment plans: N/A

c. Details of associates

and joint venture entities:

On 9 July 2022, Radiopharm

Theranostics (USA) Inc. and The University of Texas MD Anderson Cancer Center formed Radiopharm Ventures, LLC, a joint venture to develop

novel radiopharmaceutical therapeutic products for cancer. The joint venture will focus initially on developing products based on MD Anderson

intellectual property. On 26 August 2024, Radiopharm announced they had increased their ownership in Radiopharm Ventures from 51% to 75%.

d. Other information:

The financial statements

are currently in the process of being audited. Audited financial statements along with the independent auditor report for the year ended

30 June 2025 is expected to be released by the middle of September 2025 with an unqualified opinion.

Radiopharm Theranostics Limited

Preliminary Final Report - 30 June 2025

The financial statements cover Radiopharm Theranostics

Limited as a consolidated entity consisting of Radiopharm Theranostics Limited and the entities it controlled at the end of, or during,

the year. The financial statements are presented in Australian dollars, which is Radiopharm Theranostics Limited's functional and presentation

Radiopharm Theranostics Limited is a listed public

company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:

The above statement of profit or loss and

other comprehensive income should be read in conjunction with the accompanying notes

The above statement of financial position

should be read in conjunction with the accompanying notes

The above statement of changes in equity

should be read in conjunction with the accompanying notes

The above statement of changes in equity

should be read in conjunction with the accompanying notes

The above statement of cash flows should

be read in conjunction with the accompanying notes

Note 1. Segment information

Management has determined

based on the reports reviewed by the chief operating decision maker that are used to make strategic decisions,that the group has one reportable

segment being the research, development and commercialisation of health technologies. The segment details are therefore fully reflected

in the body of the preliminary financial report.

Note 2. Revenue from contract with customers

(a) Accounting policies

During the period ended

30 June 2025, the group entered into a strategic development services contract with Lantheus to advance clinical development of innovative

radiopharmaceuticals in Australia.

Note 3. Other income and expense items

(i) R&D tax incentive

The group's research

and development activities are eligible under an Australian government tax incentive for eligible expenditure. Where expenditure is incurred

outside of Australia, an 'overseas finding' must be obtained from AusIndustry prior to any such expenditure being eligible under the scheme.

Management has assessed these activities and expenditure to determine which are likely to be eligible under the incentive scheme. Amounts

are recognised when it has been established that the conditions of the tax incentive have been met and that the expected amount can be

reliably measured. For the year ended 30 June 2025, the group has included an item in other income of $9,368,544 (2024: $1,292,578) to

recognise income over the period necessary to match the grant on a systematic basis with the costs that they are intended to compensate.

An additional of $3,587,887 of accrued income has been recognised for FY2024 as at 30 June 2025.

Note 4. Other gains/(losses)

Note 5. General and administrative expenses

Note 6. Research and development expenses