CYCLOPHARM LIMITED — Major Shareholding Notification 2021

Jun 6, 2021

Form 605

Form 605 Corporations Act 2001 Section 671B Notice of ceasing to be a substantial holder

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----- Start of picture text ----- To: Company Name/Scheme: Cyclopharm LtdACN/ARSN: 116 931 2501. Details of substantial holderName: Mitsubishi UFJ Financial Group, Inc.The holder ceased to be a substantial holder on: 02/06/2021The previous notice was given to the company on: 04/06/2021The previous notice was dated: 04/06/2021The holder became aware on: 04/06/2021----- End of picture text -----

2. 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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----- Start of picture text ----- Person whose Class and Date of change relevant interest changed Nature of change Consideration given in relation to change number of securities affected Person's votes affectedCollateral Returned by02/06/2021 Mitsubishi UFJ Financial an entity controlled by N/A 1,222,477 [Ordinary ] 1,222,477Group, Inc. Morgan Stanley - see SharesAnnexure A3. Changes in associationThe persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, thesubstantial holder in relation to voting interests in the company or scheme are as follows: Name and ACN/ARSN (if applicable) Nature of associationNot applicable Not applicable4. AddressesThe addresses of persons named in this form are as follows: Name AddressMitsubishi UFJ Financial Group, Inc. 2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan----- End of picture text -----

5. Signature

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Dated 7 June 2021

Ryuichiro Sakuma Authorised signatory

Page 1

Annexure A

Annexure A

This is Annexure A of 1 page referred to in Form 605 (Notice of ceasing to be a substantial holder), signed by me and dated 7 June 2021.

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----- Start of picture text ----- Ryuichiro Sakuma Authorised signatory Dated 7 June 2021----- End of picture text -----

The below schedules are based on the relevant standard agreements. The entity filing the report will, if requested by the company or responsible entity to whom the prescribed form must be given or ASIC, give a copy of the agreement to the company, responsible entity or ASIC.

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----- Start of picture text ----- ScheduleType of Agreement International Prime Brokerage AgreementMorgan Stanley & Co. International plc for itself and as agent and trustee for and on behalf of the other Morgan StanleyParties to agreementCompanies and KARST PEAK THYLACINE MASTER FUNDTransfer Date 20210602;Holder of Voting Rights Prime broker has the right to vote securities rehypothecated from the Client.Are there any restrictions on voting rights? Yes/N oIf yes, detail Not applicableScheduled Return Date (if any) OpenDoes the borrower have the right to return early? Ye s/NoIf yes, detail Prime broker may return shares which were rehypothecated from the client at any time.Does the lender have the right to recall early? Ye s/NoIf yes, detail Prime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those shares by the client.Will the securities be returned on settlement? Ye s/NoIf yes, detail any exceptions Upon an Event of Default, the default market value of all Equivalent Securities to be delivered will be determined and on the basis of the amounts so established, anaccount shall be taken of what is due from each party to the other. The amounts due from one party shall be set off against the amounts due from the other party and only the balance of the accountshall be payable.----- End of picture text -----

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