Wilsons - Dose it higher? Now an option; Mtn Overweight, A$0.90 Tgt (Analysts: Dr Melissa Benson and Dr Shane Storey)

Disclaimers and Disclosures

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Definitions at wilsonsadvisory.com.au/disclosures.

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Each analyst of Wilsons Advisory and Stockbroking Limited (ACN 010 529 665: AFSL 238375) ("Wilsons Advisory") whose name appears in this research certifies that (1) the recommendations and opinions expressed in this research accurately reflect the analyst's personal, independent and objective views about any and all of the subject securities or issuers; (2) no part of the analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the analyst in the research; and (3) to the best of the analyst's knowledge, he/she is not in receipt of material non-public information about the issuer.

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Disclaimers and Disclosures

| Regulatory disclosure

Wilsons Advisory restricts research analysts from trading in securities for which they write research. Other Wilsons Advisory employees may hold interests in the company, but none of those interests are material. Wilsons Advisory further advises that at the date of this report, neither Wilsons Advisory and Stockbroking Limited or Wilsons Corporate Finance Limited have any material interests in the company. Wilsons Corporate Finance Limited ACN 057 547 323, AFSL 238 383 acted as Joint Lead Manager and underwriter in the May 2023 pro rata accelerated non-renounceable entitlement offer and Institutional Placement of Immutep Limited Securities for which it received fees or will receive fees for acting in this capacity.

Wilsons Advisory and Stockbroking Limited may have a conflict of interest which investors should consider before making an investment decision. Wilsons Advisory and Stockbroking Limited, Wilsons Corporate Finance Limited and its related bodies corporate trades or may trade as principal in the securities that are subject of the research report. Wilsons Advisory further advises that at the date of this report, neither Wilsons Advisory and Stockbroking Limited or Wilsons Corporate Finance Limited have any material interests in the company. Wilsons Advisory restricts research analysts from trading in securities for which they write research. Other Wilsons Advisory employees may hold interests in the company, but none of those interests are material.

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