ANTEOTECH LTD — Board/Management Information 2017

Dec 6, 2017

7 December 2017

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Appointment of Chief Executive Officer

Anteo Diagnostics Ltd (ASX: ADO) (“ Anteo ” or the “ Company ”) is pleased to announce the appointment of Dr Stefan Enderling as Chief Executive Officer of Anteo with a commencement date of 1 January 2018. A summary of the key conditions of Dr Enderling’s appointment is provided in Schedule 1 of this announcement. Dr Enderling has been appointed on a full time basis and will focus on delivering the objectives identified in the Company’s strategic review. He will relocate to Brisbane with his family in the first half of 2018.

Stefan has broad industry experience and has worked in both healthcare and energy markets. He started his career as an engineer before progressing to business development and General Manager positions. Stefan previously served as General Manager of Australian based Jackson Care Technologies Pty Ltd (“ JCT ”) where he built and commercialised a new smart support assistive technology product from the ground up. The commercialised smart support product serves health, aged and disability care markets. The commercialisation of the smart support product included sourcing of development funds, hiring research and development staff, IP protection and sales generation. Sales from the new smart support product increased annual company revenues by more than 40%.

Prior to JCT, Stefan spent 5 years as Business Development Manager with TechInSA (formerly BioSA), a seed investment organisation focused on the biotechnology and medical devices sectors. During his time at TechInSA he identified, assessed and enabled multimillion dollar funding for small to medium sized technology companies. Stefan worked closely with Angel and Venture Capital investors and was involved in the analysis of more than 250 medical devices and biotechnology opportunities at TechInSA. Stefan was seconded during his time at TechInSA to several businesses such as Nano-Nouvelle Pty Ltd. Later he was seconded to Anteo where he assisted with development of business plans, the identification of several potential international commercial partners and initiated discussions with those potential partners to progress the license or sale of the Company’s Lithium-ion battery technology.

Stefan is currently a director at Bicycle South Australia (BikeSA) which is a not for profit organisation. He holds a degree in Electrical and Biomedical Engineering from the University of Applied Sciences, Koethen, Germany, a PhD degree in Electrical and Electronics Engineering from the University of Edinburgh, UK and is a Graduate of the Australian Institute of Company Directors. He is a member of the National Advisory Committee of AUSMEDTECH the national industry group for the medical devices and diagnostics sector within AUSBIOTECH.

Anteo’s Executive Chairman, Dr John Hurrell, stated “The board and I welcome the appointment of Stefan as CEO. The Company’s strategy, as recently presented to shareholders, is to focus on commercialisation of our nano-coating technology. Stefan, due to his broad industry experience in research and development, product commercialisation,

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company financings and his specialist knowledge in the electronics/battery and medtech fields is ideally suited to deliver on the Company’s strategy. Stefan has worked with the Company previously in a consulting capacity and has been involved in Anteo’s recent discussions with Polaris Battery Labs.”

Dr Joe Maeji, the Company’s Chief Scientific Officer, commented “I previously had the opportunity to work with Stefan in reviewing our data and intellectual property on Lithiumion batteries and also during visits to companies in Japan and Korea, for early discussions with battery manufacturers and suppliers. I am delighted that Stefan has agreed to take the leadership role at Anteo and look forward to working closely with him as we implement our aggressive strategic plan.”

Dr Enderling commented, “I am excited to join Anteo at this point in time. Anteo’s surface nano-coating technology has a number of great market opportunities in energy, diagnostics and medical devices markets. I look forward to working with the Anteo board and team to implement a growth strategy that monetises the company’s technology in these markets.”

On the 1st January 2018, Dr John Hurrell will step down as an executive of the Company and resume his duties as a Non-executive Chairman.

ABOUT ANTEO GROUP – Anteo Diagnostics Limited (ADO:ASX) & Subsidiaries

Anteo Group is a global nanochemistry technology and medical supply group, developing, commercialising, manufacturing and distributing products for the life sciences, energy and medical devices sectors.

Through Anteo Technology, the Anteo Group owns a patented nanochemistry surface engineering technology which unites the strength and stability of covalent binding with the gentleness of passive binding through multi-point chelation. Through the use of its reagents binders, coatings or primers, Anteo provides materials and services for high-value commercial applications. Markets include protein binding and antibody coupling (e.g. point of care devices), primers for in-vivo medical devices and medical drug delivery, and coatings with commercial applications across a broad range of industry sectors, including life sciences, medical devices and energy.

For more information, please visit www.anteodx.com

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Schedule 1 - Material Terms of Dr Stefan Enderling Employment

Term	1 January 2018 to 31 December 2021.
Probation Period	6 month probation period.
Remuneration	$260,000 plus superannuation per annum increased to $275,000 at end of the probation period and subject to annual review.
Incentives	Short term incentive package - 20% cash bonus assessed annually based on key performance indicators. Long Term option package - 12,000,000 options to be issued on the commencement date vesting as follows: • 31 December 2018: 2,000,000 options, • 31 December 2019: 2,000,000 options, • 31 December 2020: 2,000,000 options, • 3,000,000 options vesting on a volume weighted average price (VWAP) of 4 cents per share for 30 consecutive days at any time before 31 December 2018, and • 3,000,000 options vesting on a VWAP of 8 cents per share for 30 consecutive days at any time before 31 December 2019. No options issued to the Executive by the Company pursuant to this Agreement shall vest unless the Executive remains employed by the Company as at the vesting date for each bundle of options. The strike price for all options will be 40% above the VWAP for shares in the Company for 30 consecutive days prior to the date of issue. All options issued to the Executive expire upon the earlier of 31 December 2022 or 90 days after the date on which the Executive ceases to be employed by the Company. All options issued to the Executive pursuant to this Agreement are issued subject to the terms of the Anteo Diagnostics Limited Executive/Employee Share Option Plan (as varied from time to time).

	Notice Period	Two weeks	notice by either party during the probation
		period.
		Two months notice by either party after the probation
		period.
	Post-employment	Up to twelve month restraint period applies.
	Constraints
	Relocation Allowance	Re-imbursement of reasonable relocation expenses up to a
		maximum of $25,000.