ADHERIUM LIMITED — Capital/Financing Update 2021

Sep 19, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

ADHERIUM LIMITED

Date of this announcement

Monday September 20, 2021

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Stock Appreciation Rights	148,977,337	20/09/2021
to be confirmed

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

ADHERIUM LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ACN

Registration number

605352510

1.3 ASX issuer code

ADR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

20/9/2021

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Stock Appreciation Rights issued by agreement

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities

ASX +security code +Security description New class - code to be confirmed Stock Appreciation Rights +Security type ISIN code Other Date the +securities the subject of this notification were issued 20/9/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02423416-3A576213?access_token=83 ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Issued pursuant to agreement made 20 September 2021

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Issue details

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Number of +securities

148,977,337

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

CEO employment services received and to be received

Purpose of the issue

To pay for services rendered

Additional Details

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
ADR : ORDINARY FULLY PAID	2,129,085,960
4.2 Unquoted +Securities (Total number of each +class of +securities issued but	not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
ADRAK : OPTION EXPIRING 17-FEB-2022 EX $0.06	83,333,333
ADRAD : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	47,692,705
ADRAM : OPTION EXPIRING 07-MAY-2023 EX $0.02	25,000,000
ADRAN : OPTION EXPIRING 07-MAY-2023 EX $0.03	25,000,000
ADRAL : OPTION EXPIRING 25-OCT-2022 EX $0.03	104,855,877
ADRAO : OPTION EXPIRING 07-MAY-2023 EX $0.04	25,000,000
New class - code to be confirmed : Stock Appreciation Rights	148,977,337

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

148,977,337

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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