ADHERIUM LIMITED — Major Shareholding Notification 2022

Sep 26, 2022

Form 604

Section 671B

Notice of change of interests of substantial holder

Corporations Law

To Company Name/Scheme ADHERIUM LIMITED

ACN/ARSN 605 352 510

1. Details of substantial holder (1)

Name Viburnum Funds Pty Ltd (“Viburnum”) and each of the parties listed in Annexure A

ABN (if applicable) 26 126 348 990

There was a change in the interests of the substantial holder on 26/09/2022

The previous notice was given to the company on 30/11/2021 The previous notice was dated 30/11/2021

1. 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:

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Class of securities (4) Previous notice Present notice
Person's votes Voting power (5) Person's votes Voting power (5)
Fully Paid Ordinary 219,057,245 9.94% 208,970,039 8.16%
Shares (“FPO’)
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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:

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Date of change Person whose Nature of change (6) Consideration given Class and number Person's votes
relevant interest in relation to change of securities affected
changed (7) affected
20 / 01 / 2022 – Viburnum Sale of shares $ 151,308 10,087,206 FPO 10,087,206
21 / 01 / 2022
26 / 09 / 2022 Viburnum Dilution due to share n/a n/a n/a
issuance
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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 as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Viburnum	JP Morgan Nominees Australia Ltd	Viburnum	Power to (or to control) exercise vote and/or dispose of the securities as discretionary investment managers or advisers of superannuation funds, pooled superannuation trusts, managed investment schemes and investment management agreements.	208,970,039 FPO	208,970,039
Viburnum Associates (refer to Annexure A)	As above	As above	Relevant interest under section 608(3)(a) and/or 608(3)(b) of the Corporations Act 2001 (Cth).

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 Nil The addresses of persons named in this form are as follows: Name Address Viburnum Funds Pty Ltd 31 Carrington Street, Nedlands, WA, 6009

6. Addresses

The addresses of persons named in this form are as follows:

Signature

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Print Name David St Quintin Capacity Company
Secretary
Sign Here Date 27 / 09 / 2022
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Annexure A to form 604

This is Annexure A of 1 page referred to in ASIC form 604 (Notice of change of interests of substantial holder), for Adherium Limited

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David St Quintin Company Secretary 27 September 2022

Viburnum Funds Pty Ltd Subsidiaries (“Viburnum Subsidiaries”):

Viburnum Management Pty Ltd (ACN 126 937 424) Viburnum Holdings (Singapore) Pte. Ltd. V3 Trustees Pte. Ltd. V3 Management Pte. Ltd. Viburnum Management Pte. Ltd.

Viburnum Funds Pty Ltd Associates (“Viburnum Associates”):

Gilbeyallen Investments Pty Ltd (ACN 164 108 258) Fatty Holdings Pty Ltd (ACN 120 119 780)