CYCLOPHARM LIMITED — Director's Dealing 2017

May 30, 2017

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity CYCLOPHARM LIMITED

ABN 74 116 931 250

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Vanda Russell Gould
Date of last notice	25/11/2016

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest	French Park Investments Pty Ltd (director)
(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	French Park Investments Pty Ltd (SheanFamily Super Fund A/c) (director)
	Mrs Debbie Anne Gould (spouse)
	Leagou Pty Limited (director)
	MalackeyHoldingsPtyLtd(alternate
	director)
	Melbourne Corp of Australia Pty Ltd
	(director)
	Melbourne Corporation of Australia Pty Ltd
	(Superannuation Fund A/c) (director)
	South Seas Holdings Pty Limited (director)
	Chemical Trustee Limited (related party*)
	Derrin Brothers Properties Limited (related
	party*)
Date of change	5/5/2017

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	French Park Investments Pty Ltd 60,730French Park Investments Pty Ltd (SheanFamily Super Fund A/c) 140,000Mrs Debbie Anne Gould 5,000Leagou Pty Limited 5,100Malackey Holdings Pty Ltd 350,000Melbourne Corp of Australia Pty Ltd 340,000Melbourne Corporation of Australia Pty Ltd(Superannuation Fund A/c) 865,469South Seas Holdings Pty Limited 575,000Chemical Trustee Limited (related party*)8,000,000Derrin Brothers Properties Limited (relatedparty*) 930,000Total shares 11,271,299
Class	Ordinary Shares
Number acquired	Nil
Number disposed	930,000*
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Estimated consideration of $678,900 basedon the closing share price of $0.73 on 5 May2017
No. of securities held after change	French Park Investments Pty Ltd 60,730French Park Investments Pty Ltd (SheanFamily Super Fund A/c) 140,000Mrs Debbie Anne Gould 5,000Leagou Pty Limited 5,100Malackey Holdings Pty Ltd 350,000Melbourne Corp of Australia Pty Ltd 340,000Melbourne Corporation of Australia Pty Ltd(Superannuation Fund A/c) 865,469South Seas Holdings Pty Limited 575,000Chemical Trustee Limited (related party*)8,000,000Derrin Brothers Properties Limited (relatedparty*) nilTotal shares 10,341,299

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

	Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Note (*) : On 25 November 2016, Mr Gouldnotified the market that despite the factthat he believed he did not have therequisite control to constitute relevantinterests in Chemical Trustee Limited andDerrin Brothers Properties Limited, as anadvisor to those entities, he had declared arelevant interest in those shares.As an advisor, Mr Gould has been madeaware that Derrin Brothers PropertiesLimited has sold its interest on 5 May2017.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

		Detail of contract	Detail of contract	Detail of contract	Detail of contract	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
		Nature of interest				Nil
		Name of registered holder(if issued securities)				Nil
		Date of change				l
						Ni
		No. and class of sechih itt lt		urities tod i t		Nil
		wc nereschane	reae	pror
		gN Dil l	id f	i
		ote: etas are onyrelation to which the int	requreerest has ch	r a contractanged
		Interest acqui	red			Nil
		Interest diso	ed			Nil
		p
		Value/ConsideNote: If consideration	rationis non-cash	, provide detail	s	Nil
		and an estimated valuat	ion
		Interest after	hane			Nil
			g
	Part 3 –+Clos		d eri	d
			p
	Were the int
		Were the int	erests	n the se	curiti		es or contra	cts		No
		detailed abovh i	e tradi	ed durinl	g a		+closed perid?	iod
		were pror w	rtten c	earance	was r		equre

Part 3 –[+] Closed period

Were the interests in the securities or contracts No detailed above traded during a[+] closed period where prior written clearance was required?

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

If so, was prior written clearance provided to allow Not Applicable the trade to proceed during this period? If prior written clearance was provided, on what Not Applicable date was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011