ADALTA LIMITED — Capital/Financing Update 2021

Dec 20, 2021

21 December 2021

Ms M Kostopoulos Adviser, Listings Compliance (Melbourne) ASX Compliance Pty Ltd Level 4, Rialto North Tower 525 Collins Street Melbourne VIC 3000 By email: melissa.kostopoulos@asx.com.au

Dear Melissa

Notice under section 708A(5)(e) of the Corporations Act

AdAlta Limited ACN 120 332 925 ( AdAlta or Company ), (ASX code: 1AD ) advises that it has today completed the issue of 51,369,863 fully paid ordinary shares in the capital of the Company ( Shares ).

As announced in the Appendix 2A released today the Company has completed a placement of shares in accordance with its announcement to the ASX dated 15 December 2021.

In accordance with section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) the Company advises that:

• (a) the Issued Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under 708A(5)(e) of the Corporations Act;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• (ii) section 674 of the Corporations Act; and

• (d) as at the date of this notice, there is no "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Corporations Act.

Yours sincerely,

Cameron Jones Company Secretary AdAlta Limited

This notice has been authorised for release to ASX by the Board of AdAlta.