ALGORAE PHARMACEUTICALS LIMITED — Board/Management Information 2021

Jul 15, 2021

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Living Cell Technologies Limited

ACN: 104 028 042 ASX: LCT OTCQX: LVCLY

ASX ANNOUNCEMENT

LCT Interim CEO Appointed

Sydney, Australia & Auckland, New Zealand, 16 July 2021 – The Board of Living Cell Technologies Limited has appointed Chair Professor Bernie Tuch as Interim CEO on terms to be finalised. He will assume the additional role following the retirement of Dr Ken Taylor on Friday 16 July 2021.

Dr Taylor’s retirement means he will also retire from the Board of LCT. He joined LCT as CEO in February 2014 and was appointed to the Board in August 2018, after a prestigious international career in both business and academia.

Professor Tuch says Dr Taylor’s scientific rigour and commercial expertise have been invaluable during his seven years with the company.

“The Board is extremely grateful for Ken’s contribution and leadership during his time with the company. LCT has benefited greatly from his experience and international connections,” says Professor Tuch. “Ken taught fellow Board members the importance of ensuring the projects the company supported were both understandable to shareholders and capable of making a contribution to the welfare of patients.”

The company continues to explore opportunities for new projects and partnerships via a range of confidential discussions. It will make further announcements as soon as it is able, in compliance with the ASX listing rules.

Authorised for release by the Board of Living Cell Technologies Limited.

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For further information: www.lctglobal.com

At the Company: Media Contact: Bernie Tuch Rachael Joel Interim CEO and Chairman Botica Butler Raudon Partners Mobile: +61 411 461 604 Tel: +64 9 303 3862 bernietuch@lctglobal.com Mobile: +64 21 403 504 rachaelj@botica.co.nz

About Living Cell Technologies

Living Cell Technologies Limited (LCT) is an Australasian biotechnology company that has focused on discovering and developing novel treatments for debilitating conditions such as diabetes and Parkinson’s disease.

LCT has outlicensed DIABECELL (alginate coated capsule containing neonatal porcine pancreatic cells) to Diatranz Otsuka Limited to continue the development of a cell therapy for type 1 diabetes in return for a royalty arrangement.

LCT is evaluating the next step in the development of NTCELL (alginate coated capsule containing clusters of neonatal porcine choroid plexus cells) after completing phase 2a and 2b clinical studies in Parkinson’s Disease. In a Phase IIb trial of NTCELL, there was not a statistically significant difference between the groups who received NTCELL and the placebo group at the 26-week study endpoint. However, at 24 months post-implant a clinically relevant effect was observed (<-6.45 points from baseline) in two of the three treatment groups.

LCT continues to seek new product project opportunities and also interactions that leverage its financial assets.

LCT is listed on the Australian (ASX: LCT) and US (OTCQX: LVCLY) stock exchanges. The company is incorporated in Australia, with its operations based in New Zealand.

For more information visit www.lctglobal.com or follow @lctglobal on Twitter.

Forward-looking statements

This document may contain certain forward-looking statements, relating to LCT’s business, which can be identified by the use of forward-looking terminology such as “promising,” “probable”, “plans,” “anticipated,” “will,” “project,” “believe,” “forecast,” “expected,” “estimated,” “targeting,” “aiming,” “set to,” “potential,” “seeking to,” “goal,” “could provide,” “intends,” “is being developed,” “could be,” “on track,” or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no assurance that any existing or future regulatory filings will satisfy the FDA’s and other health authorities’ requirements regarding any one or more product candidates nor can there be any assurance that such product candidates will be approved by any health authorities for sale in any market or that they will reach any particular level of sales. In particular, management’s expectations regarding the approval and commercialisation of the product candidates could be affected by, among other things, unexpected clinical trial results, including additional analysis of existing clinical data, and new clinical data; unexpected regulatory actions or delays, or government regulation generally; our ability to obtain or maintain patent or other proprietary intellectual property protection; competition in general; government, industry, and general public pricing pressures; and additional factors that involve significant risks and uncertainties about our products, product candidates, financial results and business prospects. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. LCT is providing this information and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise.