Appendix 3B
Tuesday 02 Dec 2008

2 December 2008 The Manager Companies Announcements Office Australian Securities Exchange Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000 RE: Peplin, Inc. (ASX:PLI)

Update on number of CDIs quoted on ASX Dear Sir / Madam, The attached Appendix 3B provides an update on the number of CHESS Depository Interests (CDIs) quoted on ASX by Peplin, Inc. and the net transfers from the CDI register during the period 16 October 2008 to 28 November 2008. Yours sincerely Peplin, Inc.

David Smith Chief Financial Officer

PEPLIN, INC. ARBN 126 884 393 6475 Christie Avenue, Emeryville, CA 94608, USA Level 2, Brisbane Portal, 1 Breakfast Creek Road, Newstead, Brisbane, QLD, 4006, Australia Tel: +61-7-3250 1200 Fax: +61-7-3250 1299 www.peplin.com

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B
New issue announcement, application for quotation of additional securities and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.
Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

PEPLIN, INC.
ARBN

126 884 393

We (the entity) give ASX the following information.

Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).

1

+Class

of +securities issued or to be

issued

CHESS Depository Interests (CDIs) 166,975,600 547,220 167,522,820 at 15 October 2008 Net transfers at 28 November 2008

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

3

Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

CDIs over fully paid common stock of Peplin, Inc.

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Appendix 3B New issue announcement

4

Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes

5

Issue price or consideration

N/A

6

Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)

Net transfers between CDIs and unlisted common stock.

7

Dates of entering +securities into uncertificated holdings or despatch of certificates

Various dates from 16 October 2008 to 28 November 2008. Number
+Class

8

Number and of all quoted on ASX (including the securities in clause 2 if applicable)

+class

+securities

167,522,820 17,118,960

Share CDIs 20:1 (PLI) Options CDIs (PLIO)

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Appendix 3B New issue announcement

9

Number and of all not quoted on ASX (including the securities in clause 2 if applicable)

+class

+securities

Number +Class 15,141,129 Common Stock (including common stock held as CDIs) 225,000 Restricted common stock (PLIAU) 638,073 Share Options (various exercise prices issued on restructure) 21,000 Share Options (PLIAI) 58,987 Share Options (PLIAK) 147,727 Share Options (PLIAQ) 13,000 Share Options (PLIAM) 56,119 Share Options (PLIAS) 385,000 Share Options (PLIAO) 219,000 Share Options (PLIAZ) 1,326,753 Warrants (PLIAW)

10

Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Unchanged.

Part 2 - Bonus issue or pro rata issue
11 Is security required? holder approval

12

Is the issue renounceable or nonrenounceable? Ratio in which the +securities will be offered
+Class

13

14

of +securities to which the offer relates to determine

15

+Record date entitlements

16

Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? Policy for deciding entitlements in relation to fractions

17

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Appendix 3B New issue announcement 18 Names of countries in which the entity has +security holders who will not be sent new issue documents
Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.

19

Closing date for receipt acceptances or renunciations Names of any underwriters

of

20 21

Amount of any underwriting fee or commission Names of any brokers to the issue Fee or commission payable to the broker to the issue Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of +security holders If the issue is contingent on +security holders’ approval, the date of the meeting Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders Date rights trading will begin (if applicable) Date rights trading will end (if applicable) How do +security holders sell their entitlements in full through a broker? How do +security holders sell part of their entitlements through a broker and accept for the balance?

22 23

24

25

26

27

28

29

30

31

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