Highlights

• Neuren Pharmaceuticals has filed an Appendix 3Z Final Director's Interest Notice confirming that Patrick Davies ceased to be a director of the company on 12 November 2026.

• Patrick Davies held 264,634 ordinary shares in Neuren Pharmaceuticals, held through Bond Street Custodians Limited as Custodian for Austral 5065 Pty Ltd, of which Davies was a director.

• The final notice discloses no securities held directly in the director's registered name, with the custodial holding the only interest recorded at the time of departure.

• The lodgement of an Appendix 3Z is a standard ASX disclosure requirement triggered when a director ceases to hold that office, ensuring the market has a clear and final record of the departing director's interests.

Neuren Pharmaceuticals Limited (ASX:NEU), a clinical-stage biopharmaceutical company listed on the Australian Securities Exchange under the ticker NEU, filed a Final Director's Interest Notice under ASX Listing Rule 3.19A.3 on 12 November 2026, documenting the departure of Patrick Davies from the company's board on that date and disclosing the final state of his relevant interests in Neuren's securities. The Appendix 3Z form is the mandated ASX disclosure mechanism for a director who ceases to hold office, ensuring that the market receives a comprehensive and final record of the outgoing director's securities interests at the point of departure. Patrick Davies had held his most recent director's interest notice with the company since October 2021, with his tenure spanning several years during a period of significant clinical and commercial development for Neuren.

Background to the Director Departure and Disclosure

The final interest notice discloses that Patrick Davies held no securities in Neuren Pharmaceuticals directly in his own registered name. His relevant interest in the company's ordinary shares, totalling 264,634 shares, was held indirectly through a custodial arrangement: Bond Street Custodians Limited acts as custodian for Austral 5065 Pty Ltd, a company of which Patrick Davies was a director. This type of indirect holding through a corporate vehicle and custodian is a common structure used by directors and officers of ASX-listed companies to hold listed securities, and falls within the category of relevant interests required to be disclosed under section 205G of the Corporations Act and ASX Listing Rule 3.19A. The notice records no direct securities holdings in Part 1, with the 264,634 ordinary shares disclosed under Part 2, which covers interests held through non-registered arrangements.

Patrick Davies' Final Securities Holdings

Director changes are routine governance events for listed companies, and the departure of a board member is typically accompanied by the standard regulatory disclosures required by ASX Listing Rules and the Corporations Act. The Appendix 3Z filing by Neuren Pharmaceuticals fulfils the obligation to inform the market of the departing director's final securities position at the time of leaving the board. For Neuren as a company, the departure of Patrick Davies is a board composition matter that the remaining directors and nomination committee will manage through the company's standard governance processes. Neuren Pharmaceuticals has been building a commercial presence in the biopharmaceutical sector following the approval and commercialisation of trofinetide, a medicine for the treatment of Rett syndrome in the United States, and any board changes are considered in the context of maintaining the expertise and oversight required to support the company's commercial and clinical strategy.

Governance and Disclosure Context for Investors

For investors in Neuren Pharmaceuticals, the filing of a Final Director's Interest Notice is a transparency measure rather than an indicator of any operational or strategic change. The disclosure of a departing director's securities holdings ensures that shareholders and Market Participants have an accurate and complete picture of board-level securities ownership at the time of a director's exit, reducing information asymmetry and maintaining confidence in the integrity of the company's disclosures. The custodial structure through which Davies held his shares — via Bond Street Custodians for Austral 5065 Pty Ltd — is entirely standard in Australian corporate practice and does not reflect anything unusual about the nature of the holding. The company's clinical programs and commercial operations continue independently of this governance matter, and the filing represents the fulfilment of a routine disclosure obligation under Australian securities law. The requirement under Australian corporations law and ASX Listing Rules for directors to disclose their relevant securities interests — including interests held through corporate vehicles and custodial arrangements — is designed to ensure market transparency around the holdings of those with the highest level of access to corporate information. The indirect nature of Davies' holding through Bond Street Custodians for Austral 5065 Pty Ltd does not diminish the disclosure obligation; indeed, section 205G of the Corporations Act and the associated ASX rules are specifically designed to capture indirect interests of this kind, requiring Full Disclosure of the number and class of securities regardless of the structural vehicle through which they are held. This level of transparency benefits all market participants by providing a complete picture of board-level Equity alignment. For Neuren Pharmaceuticals as a Business entity, the departure of a board member triggers the standard governance processes for assessing board composition and identifying whether any capability gaps need to be addressed through new appointments. Neuren has established itself as a commercially active biopharmaceutical company following the approval of trofinetide in the United States, and maintaining a board with the right mix of clinical, regulatory, commercial, and financial expertise is an ongoing priority. The company's investor base and management team will be watching to understand whether the board intends to appoint a replacement director with skills relevant to the company's current phase of development, particularly given the commercial and financial demands of supporting a recently launched pharmaceutical product in a major market. The Appendix 3Z filing itself, while a routine regulatory matter, marks the formal conclusion of Patrick Davies' involvement with the company in a director capacity.

Key Insights

For investors in Neuren Pharmaceuticals, the filing of a Final Director's Interest Notice is a transparency measure rather than an indicator of any operational or strategic change. The disclosure of a departing director's securities holdings ensures that shareholders and market participants have an accurate and complete picture of board-level securities ownership at the time of a director's exit, reducing information asymmetry and maintaining confidence in the integrity of the company's disclosures. The custodial structure through which Davies held his shares — via Bond Street Custodians for Austral 5065 Pty Ltd — is entirely standard in Australian corporate practice and does not reflect anything unusual about the nature of the holding. The company's clinical programs and commercial operations continue independently of this governance matter, and the filing represents the fulfilment of a routine disclosure obligation under Australian securities law. The requirement under Australian corporations law and ASX Listing Rules for directors to disclose their relevant securities interests — including interests held through corporate vehicles and custodial arrangements — is designed to ensure market transparency around the holdings of those with the highest level of access to corporate information. The indirect nature of Davies' holding through Bond Street Custodians for Austral 5065 Pty Ltd does not diminish the disclosure obligation; indeed, section 205G of the Corporations Act and the associated ASX rules are specifically designed to capture indirect interests of this kind, requiring full disclosure of the number and class of securities regardless of the structural vehicle through which they are held. This level of transparency benefits all market participants by providing a complete picture of board-level equity alignment. For Neuren Pharmaceuticals as a business entity, the departure of a board member triggers the standard governance processes for assessing board composition and identifying whether any capability gaps need to be addressed through new appointments. Neuren has established itself as a commercially active biopharmaceutical company following the approval of trofinetide in the United States, and maintaining a board with the right mix of clinical, regulatory, commercial, and financial expertise is an ongoing priority. The company's investor base and management team will be watching to understand whether the board intends to appoint a replacement director with skills relevant to the company's current phase of development, particularly given the commercial and financial demands of supporting a recently launched pharmaceutical product in a major market. The Appendix 3Z filing itself, while a routine regulatory matter, marks the formal conclusion of Patrick Davies' involvement with the company in a director capacity.