The dawn of a new era

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The dawn of a new era. 24 September, 2008 www.peplin.com ... Photodynamic Rx – topical treatment + ultra violet rays. • Topical gels – extended treatment ...

The dawn of a new era 24 September, 2008 www.peplin.com

Welcome to Peplin

Tom Wiggans, CEO & Chairman

New management team

• Tom Wiggans, CEO & Chairman • Gene Bauer, President & CMO • David Smith, CFO • Peter Welburn, CSO & VP Research and Development • George Mahaffey, CCO

Forward looking statements This presentation contains "forward-looking statements" as defined under the U.S. federal securities laws including, but not limited to, statements regarding Peplin’s future clinical development program. Actual events could differ materially from those anticipated in the forward-looking statements as a result of certain factors, including but not limited to: adverse changes in general economic or market conditions, the inability to manage successfully and complete the offering, including the ability to retain and attract key employees, the risk that the offering may not occur in its expected timeframe or at all, and other one-time events and other important factors disclosed previously and from time to time in Peplin’s filings with the U.S. Securities and Exchange Commission and the Company’s disclosures to the ASX. Peplin and the Company disclaim any obligation to update any such forward-looking statements after the date of this presentation.

An emerging leader

• One of the most exciting and anticipated new products in the dermatology market • Financial stability - to complete Phase III testing of PEP005 • Leadership of experienced management and knowledgeable investors

Solar (Actinic) Keratosis - Sun Spots Disease & Current Treatments

Dr Eugene Bauer, President & Chief Medical Officer

Solar keratosis (sun spots)

• Caused by chronic sun exposure • Fair-skinned particularly at risk • Australia – highest prevalence

Prevalence and growth of sun spots • 40-60% of adult Australians have at least one sun spot1 • Over 380,000 Australians are treated for skin cancer each year2,3 – that’s over 1,000 people every day • Sun spot and Non-Melanoma Skin Cancer incidence growing 3-8% per year worldwide1 • Risk increases with age – Rapidly growing in people