ADALTA LIMITED — Capital/Financing Update 2019

May 20, 2019

Market Announcement

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21 May 2019

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AdAlta Limited (ASX: 1AD) – Trading Halt

Description

The securities of AdAlta Limited (‘1AD’) will be placed in trading halt at the request of 1AD, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 23 May 2019 or when the announcement is released to the market.

Issued by

James Gerraty

Manager, Listings Compliance (Melbourne)

Market Announcement 1/1 ASX Customer Service Centre 131 279 | asx.com.au

21 May 2019 ASX Limited

21 May 2019

Mr James Gerraty ASX Compliance Pty Ltd Level 4, North Tower 525 Collins Street Melbourne VIC 3000

By Email: james.gerraty@asx.com.au

Dear James

AdAlta Limited (ASX: 1AD) - Request for Trading Halt

AdAlta Limited (ASX: 1AD) requests that a trading halt be granted by the Australian Securities Exchange ( ASX ) with respect to its ordinary shares to apply from the commencement of trading on 21 May 2019 until the commencement of trading on 23 May 2019.

As required by ASX Listing Rule 17.1, AdAlta Limited provides the following information:

1. the trading halt is requested pending an announcement of a capital raising by AdAlta Limited;

2. AdAlta Limited expects the trading halt will be ended by it making an announcement to the ASX regarding the completion of a private placement (which is expected no later than commencement of trading on 23 May 2019); and

3. AdAlta Limited is not aware of any reason why the trading halt should not be granted, or any other information necessary to inform the market about the trading halt.

Yours sincerely

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Cameron Jones Company Secretary AdAlta Limited