EMYRIA LIMITED — Capital/Financing Update 2021

Apr 20, 2021

ASX Announcement

21/04/2021

Emyria secures $5m Placement to advance drug registration activity and expand treatment pipeline

Highlights:

• Emyria secures $5 million in a well-supported Placement to sophisticated and strategic investors

• $800,000 corner-stoned by lead manager Sixty Two Capital to consolidate existing holding

• Funds expected to:

• advance pivotal clinical trials for EMD-003 and EMD-004 important first steps towards registration with the TGA

• define US FDA regulatory pathways for Emyria’s growing drug development programs

• initiate scoping of a psychedelic-assisted therapy clinical trial in partnership with Mind Medicine Australia

• support further data analysis and IP filing based on Emyria Data ahead of additional drug development programs for new indications

• Investment increases Emyria’s cash position to ~$8.5m

Emyria Limited (ASX: EMD) (Emyria or the Company), a data-backed drug development company, advises that it has received firm commitments from sophisticated and strategic investors in a well supported $5m Placement.

In offering the Placement its lead broker, Sixty Two Capital, identified investors aligned with the Company’s strategic focus to register new treatments that are backed by Emyria’s unique clinical data and intellectual property.

28.57m new ordinary shares will be issued at $0.175 per share together with a 1 for 2 free attaching unlisted option exercisable at $0.35 expiring two years from the date of issue (Placement).

Emyria’s Managing Director, Dr Michael Winlo, said: “ We’re very pleased with the significant support we received for this strategic Placement. These funds will help advance the TGA registration programs already underway for EMD-003 and EMD-004, help map out a US regulatory strategy for our expanding pipeline and help us prepare a clinical trial in psychedelic-assisted therapy for major, unmet mental health concerns - an area of increasing need globally.”

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Sixty Two Capital Director, Mr Sufian Ahmad , said “Sixty Two Capital is excited to cornerstone this investment and further increase its holding in Emyria. We believe that Emyria’s model of using its unique real world data to establish multiple cannabinoid and other drug registrations will allow the Emyria to achieve what few companies globally have been able to accomplish to date.”

Supporting registration

With funds raised from the Placement, the Company is well placed to achieve current milestones related to its registration plans for EMD-003 , which is targeting mental health concerns with a unique, high-bioavailability, capsule technology with partner Cann Group (ASX: CAN) and EMD-004 , focussed on irritable bowel syndrome (IBS) being developed by Emyria.

(For more on the EMD-003 program, see ASX announcement released 07 April 21)

Expanding the pipeline globally

Funds raised will also allow the Company to refine the regulatory strategy to register Emyria’s pipeline products with US FDA as well as further exploiting Emyria Data to generate additional IP and insights in support of launching additional drug development programs for new, under-served indications.

Robust clinical trials in psychedelic-assisted therapy The funds will also support clinical trials and data generation in psychedelic-assisted therapy with partner Mind Medicine Australia with the intention to boost the clinical evidence behind safe and appropriate use of these new treatments.

As lead broker to the Placement, Sixty Two Capital will receive a 6% capital raising fee and 5M unlisted options on the same terms and conditions as the attaching options. The Placement will utilise the Company’s existing placement capacities under ASX Listing Rules 7.1A (up to 22.55m shares) and 7.1 (up to 6.02 shares and 20.28m options). The issue price of A$0.175 per share meets the ‘minimum issue price’ requirement in ASX Listing Rule 7.1A.3. Securities under the Placement are expected to be issued Wednesday 28 April 2021 (subject to receipt of cleared funds). Appendix 3Bs (proposed issue of securities) have been released in relation to this announcement.

This announcement has been approved and authorised for release by the Board of Emyria Limited.

For further information on Emyria :

Dr Michael Winlo Lexi O’Halloran Managing Director Investor Relations (08) 6559 2800 + 61 (0) 404 577 076 mwinlo@emyria.com lexi@janemorganmanagement.com.au

Andrew Williams Media Relations +61 (0) 412 614 125 andreww@proflemedia.com.au

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About Emyria (www.emyria.com) Emyria Limited is a data-backed, drug development company. Emyria’s Treatments target unmet needs and are focused on obtaining approval from major global regulators. Emyria’s drug development programs are informed by insights generated from extensive analysis of Emyria Data - deep, ethically-sourced clinical evidence that is gathered with patients across Emyria’s independent clinical services ( Emerald Clinics - www.emeraldclinics.com.au)

Emyria Data provides deep treatment insights and is therefore a source of unique IP, strategically designed drug development and personalised care programs.

Emyria’s first drug development program, EMD-003 is targeting unmet needs in mental health. Specifically psychological distress and the symptoms of anxiety, depression and stress.

Cautionary Note on Forward-Looking Statements

Any statements in this press release about future expectations, plans and prospects for the Company, the company’s strategy, future operations, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the Company’s ability to successfully develop its product candidates and timely complete its planned clinical programs and the Company’s ability to obtain marketing approvals for its product candidates. In addition, the forward-looking statements included in this press release represents the Company’s views as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.

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