ALCIDION GROUP LIMITED — Capital/Financing Update 2021

Dec 13, 2021

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14 December 2021

Dear shareholder

Notice to ineligible foreign shareholders regarding non-renounceable rights offer

On 7 December 2021, Alcidion Group Limited ( Alcidion or Company ) announced an Accelerated Nonrenounceable Entitlement Offer ( Entitlement Offer ) to acquire one (1) new ordinary share ( New Shares ) at $0.25 each for every ten and half (10.5) existing fully paid ordinary shares held by Alcidion shareholders in Australia and New Zealand ( Eligible Shareholders ) at 7.00 pm (AEDT) on Wednesday, 9 December 2021 ( Record Date ).

Full details of the Entitlement Offer are contained in the Offer Booklet lodged with the ASX on 14 December 2021, and is available to view on the ASX website under the Company’s ASX code “ALC” and ALC’s website at https://www.alcidion.com/.

The Entitlement Offer is currently scheduled to close at 5.00pm (AEDT) on Thursday, 23 December 2021.

The Company has determined that it would be unreasonable to extend the Entitlement Offer to Shareholders with registered addresses outside Australia or New Zealand, having regard to:

• the small number of Shareholders with registered addresses outside Australia and New Zealand;

• the number and value of the New Shares which would be offered to ineligible Shareholders (being International Shareholders); and

• the cost of complying with the legal requirements and requirements of the regulatory authorities, in the respective overseas jurisdictions.

Accordingly, the Entitlement Offer will not be made to International Shareholders. This letter constitutes the notice that the Company is required to give each Shareholder that is not an Eligible Shareholder under ASX Listing Rule 7.7.1(b).

If you have any query or question about the Entitlement Offer, please contact the company secretary, Melanie Leydin, by telephone on +61 3 9692 7222, by facsimile on +61 3 9077 9233 or by email at mleydin@leydinfreyer.com.au, or the Company’s share registrar, Computershare Investor Services Pty Ltd, as follows:

Telephone: 1300 556 161 (within Australia) or +61 3 9415 4000 (outside Australia) between 8.30am and 5.00pm (AEDT)

Yours sincerely,

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Melanie Leydin Company Secretary Alcidion Group Limited

Alcidion Group Limited | Level 10 9 Yarra Street SOUTH YARRA VIC AUSTRALIA 3141 | ABN 77 143 142 410 T 1800 767 873 | E info@alcidion.com | W www.alcidion.com