Life Healthcare : concludes agreement to sub-license “RM2” (Bombesin)

LIFE HEALTHCARE GROUP HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2003/002733/06)

ISIN: ZAE000145892

Share Code: LHC

("Life Healthcare" or "the Group")

LIFE HEALTHCARE FUNDING LIMITED (Incorporated in the Republic of South Africa Registration number 2016/273566/06)

LEI: 3789SJPQJZF8ZYXTZ394

Bond company code: LHFI

LIFE HEALTHCARE CONCLUDES AGREEMENT TO SUB-LICENSE "RM2" (Bombesin)

Shareholders and noteholders are advised that Life Healthcare, through its wholly owned subsidiary Life Molecular Imaging Limited ("LMI"), has entered into a contract with Lantheus Holdings, Inc. ("Lantheus"), to sub-license one of LMI's early-stage novel radiotherapeutic and radio diagnostic products ("RM2") ("the Agreement").

As part of Life Healthcare's previously communicated strategy to monetise LMI's product development portfolio when appropriate, the Group has found a partner for its RM2 product. Through the Agreement, LMI has secured a partnership for the development of this early-stage diagnostic and therapeutic product through to commercialisation. This exciting opportunity unlocks some of the value in LMI.

We are delighted to announce that Lantheus has identified value and a commercial opportunity in continuing the development of RM2. Per the Agreement, Lantheus will make an upfront payment of $35 million to LMI for the sub-licensing rights to RM2. In addition, a number of payments will be paid to LMI with the achievement of development and regulatory milestones as well as royalties and milestone payments when the product is sold commercially. Life Healthcare believes this transaction is in the best interests of its shareholders as it enables Life Healthcare to avoid an expensive and uncertain development process to bring RM2 to the market, as well as securing appropriate future revenue royalties should RM2 be commercially successful. The Agreement secures Lantheus' rights to develop the product and complete the early development in collaboration with LMI. LMI is uniquely positioned to assist in this area. Life Healthcare is pleased by this development as it showcases and harnesses the specialised talent within LMI.

Life Healthcare had retained R1billion from the disposal of Life Healthcare's interests in Alliance Medical Group for LMI funding requirements. This transaction will reduce the quantum required in the immediate term and Life Healthcare will consider distributing the balance, post costs, to shareholders as part of the 2024 full year dividend.

The Agreement is considered to be in the ordinary course of business for LMI, in terms of the JSE Limited Listings Requirements and does not involve a related party.

LMI is a wholly owned subsidiary in Life Healthcare and is registered in the United Kingdom. The company has a product Neuraceq® which has been approved in many countries and is used to detect amyloid plaque in the brain through a PET-CT Scan and has multiple products in early clinical development. LMI also provides clinical research services for pharmaceutical companies.

Lantheus Holdings, Inc. is listed on NASDAQ in the United States of America and is the leading radiopharmaceutical-focused company committed to delivering life-changing science to enable clinicians to Find, Fight and Follow disease to deliver better patient outcomes.

For further information, please contact: Adam Pyle, Head of Investor Relations [e-mail]

Dunkeld

27 June 2024

Equity and Debt Sponsor

RAND MERCHANT BANK (a division of FirstRand Bank Limited)