PARK CITY, Utah, Jan. 31, 2025 - RCBC BidCo Pty Ltd ("BidCo") today announced the extension of its offer dated November 29, 2024 to acquire up to 100% of the ordinary shares of Parnell Pharmaceuticals Holdings Ltd ("Parnell") from existing Parnell shareholders (the "Offer").

In accordance with the terms of the Offer, BidCo is extending the expiration date of the Offer to 5:00pm Friday, 14 March 2025 (New York City time). The Offer was previously scheduled to expire on 5:00pm, 31 January 2025 (New York City time). All other terms and conditions of the Offer remain unchanged.

Completion of the Offer will now occur on or before Wednesday, 19 March 2025 (New York City time), unless the expiry date is further extended by BidCo.

As at the date of this announcement, 118,301,020 Parnell ordinary shares have accepted the Offer.

For questions about the Offer, please contact Georgeson, the Information Agent, toll-free at (866) 735 – 8657 or +1 (781) 896-3676 (Monday through Friday 9 a.m. to 11 p.m. and Saturday 12 p.m. to 6 p.m. New York City time).

SOURCE RCBC BidCo