Announcement PDF ASX Announcement Starpharma Investor Presentation – Petalion Webinar Melbourne, Australia; 21 October 2026: Starpharma (ASX: SPL, US OTC: SPHRY), an innovative biotechnology company advancing dendrimer technology from the lab to the patient, provides the investor presentation delivered at today’s webinar on recent changes to the ownership structure of the Petalion program. The presentation is appended, and a recording of the webinar will be made available on Starpharma’s website. About Petalion Therapeutics Petalion Therapeutics is a UK-incorporated company developing a differentiated FAP-targeted dendrimer-drug conjugate for cancer. Established through a strategic collaboration between Starpharma and Medicxi, the program leverages Starpharma’s proprietary DEP® dendrimer platform and the parties’ complementary development expertise. Starpharma holds 66% of Petalion and Medicxi holds 30%. About Starpharma Starpharma (ASX: SPL, US OTC: SPHRY) is an innovative biotechnology company with two decades of experience in advancing dendrimer technology from the lab to the patient. Our mission is to help patients with significant illnesses, such as cancer, achieve improved health outcomes and quality of life through the application of our unique dendrimer technology. Dendrimers represent an important advancement in medicine, offering improved efficacy, precision, and efficiency for pharmaceutical therapies, particularly in the treatment of challenging diseases like cancer. Advanced dendrimer conjugates are designed to target tumour cells directly, thereby reducing effects on healthy tissues and contributing to better patient outcomes. Starpharma’s portfolio includes clinical-stage DEP® (dendrimer enhanced product) assets, preclinical radiopharmaceutical assets, research collaborations, and three consumer health products. For more information about Starpharma, visit www.starpharma.com or connect with Starpharma on LinkedIn. Investor & Media Relations Gabriella Hold gaby@thecapitalnetwork.com.au Starpharma Holdings Limited Cheryl Maley, Chief Executive Officer Justin Cahill, Chief Financial and Operations Officer and Company Secretary +61 3 8532 2704 investor.relations@starpharma.com 4-6 Southampton Crescent Abbotsford VIC 3067 Disclosure This ASX Announcement was authorised for release by Non- Executive Director, Dr Russell Basser. Forward-Looking Statements This document contains certain forward-looking statements, relating to Starpharma’s business, which can be identified by the use of forward-looking terminology such as “promising”, “plans”, “anticipated”, “will”, “project”, “believe”, “forecast”, “expected”, “estimated”, “targeting”, “aiming”, “set to”, “potential”, “seeking to”, “goal”, “could provide”, “intends”, “is being developed”, “could be”, “on track”, or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no assurance that any existing or future regulatory filings will satisfy the FDA’s and other authorities’ requirements regarding any one or more product candidates, nor can there be any assurance that such product candidates will be approved by any authorities for sale in any market or that they will reach any particular level of sales. In particular, management’s expectations regarding the approval and commercialization of the product candidates could be affected by, among other things, unexpected trial results, including additional analysis of existing data, and new data; unexpected regulatory actions or delays, or government regulation generally; our ability to obtain or maintain patent or other proprietary intellectual property protection; competition in general; government, industry, and general public pricing pressures; and additional factors that involve significant risks and uncertainties about our products, product candidates, financial results and business prospects. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, or expected. Starpharma is providing this information as of the date of this document and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise. Clinical case studies and other clinical information given in this document are given for illustrative purposes only and are not necessarily a guide to product performance and no representation or warranty is made by any person as to the likelihood of achievement or reasonableness of future results. Nothing contained in this document, nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of any Starpharma product. Starpharma secures majority ownership of Petalion LEADING THE NEXT STAGE OF THE FAP-TARGETED DEP® ONCOLOGY PROGRAM I N V E S T O R P R E S E N TAT I O N 21 OCTOBER 2026 2 Disclaimer and Forward-Looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. Although we believe that the expectations reflected in the forward-looking statements are reasonable at this time, Starpharma can give no assurance that these expectations will prove to be correct. Actual results could differ materially from those anticipated. Reasons may include risks associated with drug development and manufacture, risks inherent in the regulatory processes, delays in clinical trials, risks associated with patent protection, future capital needs or other general risks or factors. 2 I N V E S T O R P R E S E N T A T I O N 3 Key Highlights: Petalion Update Starpharma will lead the FAP-targeted DEP® oncology program, with Medicxi remaining a strategic partner and substantial shareholder I N V E S T O R P R E S E N T A T I O N MAJORITY OWNERSHIP 66% up from 22.5% Starpharma leads operations and controls governance Medicxi 30% Advisers 4% Board: Starpharma and Medicxi DEFINED INVESTMENT UP TO AUD $5.0m $3.0m cash Up to $2.0m R&D services Cash funded from the recent capital raise allocation for new R&D pipeline opportunities NEXT DEVELOPMENT PHASE Lead candidate selection Generate the evidence to define the next development and partnering pathway Adds a FAP-targeted dendrimer-drug conjugate to Starpharma’s focused DEP® oncology portfolio Starpharma’s Mission and Purpose Redefining cancer treatment with dendrimer science I N V E S T O R P R E S E N T A T I O N 4 Our mission Help patients with significant illnesses, such as cancer, achieve improved health outcomes and quality of life through the application of our unique dendrimer technology. Building value through proprietary assets and strategic partnerships Two Complementary DEP® Approaches to Drive Shareholder Value DEP® PLATFORM One platform enabling multiple commercial pathways OWN AND ADVANCE Proprietary assets Build differentiated DEP® oncology assets in selected high value therapeutic areas. VALUE: asset ownership • partnering • commercialisation COLLABORATE AND SCALE Strategic partnerships Apply DEP® with pharmaceutical, biotechnology and investment partners across a broader range of opportunities. VALUE: licences • milestones • R&D funding • royalties • strategic exits A balanced model combining the upside of asset ownership with the reach, validation and economics of strategic partnerships. I N V E S T O R P R E S E N T A T I O N 5 Disciplined Selection of Proprietary DEP® Assets HIGH UNMET NEED Meaningful patient need and scope for clinically relevant differentiation CLEAR DEP® ADVANTAGE A defined role for DEP® in improving targeting, delivery or therapeutic performance ATTRACTIVE VALUE POTENTIAL Strong scientific rationale, commercial relevance and a credible development pathway Highest growth targeted oncology modalities Radiopharmaceuticals Targeted delivery of radioisotopes Drug conjugates Targeted delivery of potent payloads RNA therapeutics Including delivery of siRNA and ASOs Other targeted therapies Selective opportunities meeting the criteria above Focused deployment of capital where DEP® can create differentiated assets and meaningful shareholder value. Focusing capital where patient need, platform advantage and value potential align I N V E S T O R P R E S E N T A T I O N 6 Evolving Asset Pipeline Product Target Indication Pre- clinical Phase I Phase II Phase III Status Targeted Therapies DEP® HER2-Lutetium Other DEP® oncology assets Non-Targeted Therapies DEP® SN38 DEP® cabazitaxel Ovarian and colorectal Prostate and gastro-oesophageal 3L treatment resistant, HER2+, gastric cancer Various Entering Phase I Partner Pipeline Combined $1B+deal value Partner Therapeutic area Oncology Oncology Oncology (radiopharmaceuticals) Clinical results reported Clinical results reported Partner-ready^ Partner-ready^ ^Ongoing business development activity; supported by external advisors. Strategic focus on targeted therapies and partnerships in oncology to drive shareholder value I N V E S T O R P R E S E N T A T I O N 7 Petalion Joint Venture Petalion’s evolution reflects a typical asset-centric investment model I N V E S T O R P R E S E N T A T I O N 8 Partner Pipeline Combined $1B+deal value Partner Therapeutic area Oncology Oncology Oncology (radiopharmaceuticals) Medicxi European VC with 20+ years of experience in drug discovery, developing therapeutics for unmet medical needs, partnering, investment & asset sale Founder funding model for single-asset companies, with ~80 portfolio companies. Recent exits as founding funder Centessa: USD $6.3b in 2026 Vicebio: USD $1.6b in 2025 SPL joint venture – Petalion Commenced in 2024 after Medicxi sought DEP® technology to address a significant unmet need. 22.5% initial equity agreed for SPL’s background IP contribution. Two years of active collaboration and significant research, highly dependent on DEP® and the SPL team. Tranched investment plan. Established in 2024, Petalion focuses on one FAP-targeted oncology program using Starpharma’s proprietary DEP® dendrimer platform. Starpharma has increased its ownership after initial R&D and before the next phase. OWNERSHIP Starpharma increases its interest to 66%. Petalion becomes a UK-incorporated subsidiary of Starpharma Holdings Ltd. Medicxi remains a strategic shareholder with 30% interest, and the remaining 4% held by Petalion advisers. PROGRAM LEADERSHIP Two Starpharma-appointed directors & one Medicxi director. Starpharma CEO serves as Executive Chair. Starpharma leads operations with DEP® dendrimer, conjugation and development capabilities. Pre-agreed development plan for the next phase. FUNDING Starpharma will contribute AUD $3.0 million in cash to Petalion and up to AUD $2.0 million in R&D services. The cash contribution will be funded from the allocation for new R&D pipeline opportunities outlined in Starpharma’s recent capital raise. Starpharma gains control with the benefit of Medicxi’s ongoing strategic involvement. Greater Ownership and Continued Strategic Support The revised structure combines majority ownership with direct program leadership I N V E S T O R P R E S E N T A T I O N 9 FAP and DEP®: Scientific Rationale and Strategic Value Expanding potential across solid tumours I N V E S T O R P R E S E N T A T I O N FAP target DEP® delivery Fibroblast activation protein (FAP) is highly expressed on cancer-associated fibroblasts in many solid tumours, with relatively limited healthy-tissue expression. This pan-cancer target is relevant in cancers including pancreatic, lung, breast and others. This differentiated approach targets the tumour microenvironment and could address high unmet need in earlier treatment settings. The broad relevance of FAP across solid tumours creates the potential for a multi-indication oncology platform addressing a multi-billion- dollar commercial opportunity. Petalion’s FAP-targeted conjugate uses tuneable DEP®, designed to address challenges with current approaches including tumour penetration, distribution, retention and payload delivery. The aim is anti-tumour activity with less healthy- tissue exposure. Encouraging early data support continued investment and refinement of the target, payload and development plan. Research completed to date: • Extensive screening and optimisation activity generating a vast library of proprietary candidates. Strategic value A high-value, externally validated target extends DEP®, with flexibility across payloads and indications. Expands Starpharma’s portfolio of targeted oncology assets. Starpharma holds majority economic ownership and control, contributing research capability and disciplined R&D investment. Medicxi will continue to provide strategic, oncology-development, partnering, investment and asset-centric expertise. 10 Where Petalion Now Sits Within Our Portfolio Product Target Indication Pre- clinical Phase I Phase II Phase III Status Targeted Therapies DEP® HER2-Lutetium DEP® FAP-targeted asset Other DEP® oncology assets Non-Targeted Therapies DEP® SN38 DEP® cabazitaxel Ovarian and colorectal Prostate and gastro-oesophageal 3L treatment resistant, HER2+, gastric cancer Various Entering Phase I Partner Pipeline Combined $1B+deal value Partner Therapeutic area Oncology Oncology Oncology (radiopharmaceuticals) Clinical results reported Clinical results reported Partner-ready^ Partner-ready^ ^Ongoing business development activity; supported by external advisors. Pan-cancer Aligns with strategic focus on targeted therapies and partnerships in oncology to drive shareholder value I N V E S T O R P R E S E N T A T I O N 11 One Platform. Two Complementary Routes To Value. Advancing proprietary oncology assets while partnering DEP® innovation with leading life-science companies I N V E S T O R P R E S E N T A T I O N 12 DEP® PLATFORM Targeted delivery and conjugation capabilities STRATEGIC PARTNERSHIPS GENENTECH Oncology research collaboration & license RADIOPHARM THERANOSTICS Radiopharmaceutical collaboration STAR NAVIGATOR Pathway for new DEP® collaborations PROPRIETARY ONCOLOGY ASSETS PETALION FAP-targeted DEP® oncology program RADIOPHARMACEUTICALS New and existing DEP® radio assets TARGETED ONCOLOGY New targets, payloads and combinations DISCOVER New assets and applications › VALIDATE Build preclinical evidence › ADVANCE Focused proprietary development › PARTNER Collaborate at the right point › CREATE VALUE Milestones, licences and ownership Multiple paths to value: partner-funded programs and milestones, alongside greater participation in the long-term value of proprietary oncology assets. Focused Execution for Partnerships and Asset Development From clinical validation to global partnerships and advancing radiotheranostics I N V E S T O R P R E S E N T A T I O N 13 1H CY26 2H CY25 FDA confirms path to DEP® HER2 first-in-human study, currently on track to enter clinic in 2H CY26 Early-stage research from Genentech collaboration published Finalised DEP® HER2- Lu preclinical package Radiopharm Theranostics Research agreement with option up to A$89M in success- based milestones and royalties on net sales Partnered with Adelvas for the supply and distribution of Viraleze in the Eurasian region DEP® SN38 Clinical Results Published in the Journal of Clinical Oncology Genentech collaboration and license agreement with deal value up to A$864M in success-based milestones and tiered royalties on global net sales DEP® radio- pharmaceutical patent application with exemplification including HER2, PSMA & EGFR oncology targets Radiopharm Theranostics option period for exclusive license triggered 2H CY26 Raised net proceeds of $30m via an Entitlement Offer Secured majority ownership in Petalion Therapeutics Target clinical trial approval and commencement for the DEP® HER2-Lu FIH Phase 1 study Early-stage research commenced on new target oncology modalities DEP® HER2-Lu clinical precursor manufacture completed 14 Financial Summary Well placed to execute our strategy I N V E S T O R P R E S E N T A T I O N A$11.0M Cash balance At 30 June 2026 A$30M Net proceeds raised Fully underwritten Entitlement Offer 11 August 2026 A$44.5M Pro forma cash at 11 August 2026 Includes R&D tax incentive receivable Funding priorities A$17M Advancing the DEP® HER2-Lu clinical program A$7M Expanding Starpharma’s internal targeted oncology pipeline Includes A$3m cash investment in Petalion Cash runway Into FY28 Opportunity to extend runway through licensing, product sales, partnership agreements and milestones. Important catalysts we anticipate in the next 12-18 months DEP® HER2 Program • Final data readout from FIH study • Ph I/II (IND) begins Revenue Generation • Partner milestones • Licensing payments Internal Pipeline • Development milestones • DEP® FAP-targeted development program update DEP® HER2 Program • Initial data readout from ~3-4 patients from FIH / Ph I study • FDA pre-IND meeting External Partnerships • Existing partner milestones • New partner programs Internal Pipeline • Additional pipeline asset DEP® HER2 Program • Ethics approval • Study commencement External Partnerships • Advancement of existing partnerships • New partner collaborations Revenue Generation • New distribution agreements executed for consumer products 2H CY27 1H CY27 4Q CY26 Focusing on Strategic Execution and Revenue Generation I N V E S T O R P R E S E N T A T I O N 15 Thank you Investor Relations Investor.Relations@Starpharma.com www.Starpharma.com Corporate Office 4 – 6 Southampton Crescent Abbotsford, Victoria 3067 Australia