ADALTA LIMITED — Share Issue/Capital Change 2021

Nov 18, 2021

19 November 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 465,365 fully paid ordinary shares in the capital of the Company ( Shares ).

As announced in the Appendix 2A released today the shares have been issued for the provision of investor relation services over a six month term in lieu of cash fees. The deemed issued price per share is $0.087.

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