ADHERIUM LIMITED — Major Shareholding Notification 2021

May 10, 2021

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Adherium Limited (ADR) ACN/ARSN 605 352 510 1. Details of substantial holder (1) Name Regal Funds Management Pty Ltd (RFM) ACN/ARSN (if applicable) 107 576 821

There was a change in the interests of the substantial holder on 7/05/2021 The previous notice was given to the company on 26/03/2021 The previous notice was dated 24/03/2021

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

follows:
	Previous notice		Current notice
Class of securities (4)
	Person's votes	Voting power (5)	Person's votes		Voting power (5)
ORDINARY	52,718,327	6.21%	222,266,463		10.46%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Holder of relevantinterest	Date of acquisition		Consideration (9)	Class and number of	Class and number of	securities	securities
	See Annexure 1
4. Present relevant interests
Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:
Holder of relevant interest	Registered holder of securities		Person entitled to be registered asholder (8)	Nature ofrelevantinterest (6)	Class andnumber ofsecurities		Person'svotes
CREDIT SUISSE AG	CS THIRD NOMINEES PTYLIMITED		CREDIT SUISSE AG	HOLDER OFSHARES	222,266,463ORDINARY		222,266,463

5. Changes	in association
The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9)
with, the substantial holder in relation to voting interests in the company or scheme are as					follows:
Name and ACN/ARSN (if applicable)			Nature	of association
	NOT APPLICABLE
6. Addresses
The addresses of persons named in this form are as follows:
	Name		Address
	PHILIP KING	LEVEL 47 GATEWAY 1		MACQUARIE PLACE SYDNEY
			NSW 2000
Signature
	print nameKennyHo				capacity	CompanySecretary
	sign here				date	11/05/2021
Annexure	1
Changes in relevant interests
			Consideration
			given in		Number of		Persons
		Nature of	relation to		securities	Class of	votes
Date	Person whose relevant interest changed	Change	change		affected	securities	affected
4/05/2021	Regal Funds Management	Buy	2137.50		118750	Ordinary	118750
5/05/2021	Regal Funds Management	Buy	5003.41		277967	Ordinary	277967
7/05/2021	Regal Funds Management	Buy	2537271.29		169151419	Ordinary	169151419
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0
0/01/1900	Regal Funds Management	Sell		0.00	0	Ordinary	0