ENTROPY NEURODYNAMICS LIMITED — AGM Information 2020

Nov 9, 2020

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10 November 2020

Dear Shareholder

Addendum to Notice of 2020 Annual General Meeting

Exopharm Limited (ASX: EX1) (“Exopharm” or the “Company”) gives notice to its shareholders that, in relation to the Notice of Annual General Meeting (“AGM”) dated 29 October 2020 (“Notice of AGM”), in respect of the proposed AGM detailed below, the Directors have determined to issue an addendum to the Notice of AGM (“Addendum to Notice of AGM”).

Time and date of AGM

Monday, 30 November 2020, commencing at 11.00am (AEDT).

Location of AGM

Virtual Meeting

Reasons for the Addendum to Notice of AGM

Defined terms in the Notice of AGM have the same meaning in the Addendum to Notice of AGM. The Addendum to the Notice of AGM is issued in respect of Resolution 4.

Resolution 4 seeks shareholder approval for the issue of 200,000 Annual Bonus Shares to Dr Ian Dixon, Managing Director of the Company, following the achievement of his KPI targets for CY2020 as determined by the non-conflicted directors of the Board.

The KPIs had not been included in the summary of the details of Dr Dixon’s employment agreement which was announced to the ASX on 26 November 2019 notifying shareholders that Dr Dixon’s employment agreement had been extended.

Dr Dixon met the criteria for his KPIs, as set by the non-conflicted Directors of the Board, by achieving three of the six KPIs. These KPIs can be found at Appendix A on page 5 of the Addendum to Notice of AGM.

Where to find the Addendum to Notice of AGM

In accordance with the Corporations (Coronavirus Economic Response) Determinations 2020, the Company will not be dispatching physical copies of the Notice of AGM or Addendum to Notice of AGM. Instead, a copy of the Notice of AGM and Addendum to Notice of AGM can - be viewed on the Company’s website at the following link: https://exopharm.com/asx announcements/

EXOPHARM LIMITED ACN: 163 765 991 ASX:EX1 Address: Level 17, 31 Queen Street Melbourne 3000 Telephone: 03 9111 0026 Email: info@exopharm.com Web: www.exopharm.com

Given the uncertainty surrounding the COVID-19 pandemic, by the time this Addendum to Notice of AGM is received by shareholders, circumstances may have changed but this Addendum to Notice of AGM is given based on circumstances as at 10 November 2020. Accordingly, should circumstances change, the Company will make an announcement on the ASX market announcements platform and on the Company’s website at - https://exopharm.com/asx announcements/.

Shareholders are urged to monitor the ASX announcements platform and the Company’s website.

Voting by proxy

A shareholder who has already submitted a proxy form for Resolution 4 is not required to resubmit a proxy form as a result of the amendments to the Notice of AGM, unless that shareholder wishes to lodge a revised proxy form.

Any shareholder wishing to lodge a revised proxy form may obtain another proxy form by contacting the Company Secretary at sinead.teague@exopharm.com.

All proxy forms received to date by the Company will be treated as valid unless a revised proxy form is received after 11.00am (AEDT) on 28 November 2020. Your Proxy instruction must be received not later than 48 hours before the commencement of the AGM. Proxy Forms received later than this time will be invalid.

This release has been authorised by the Exopharm Board of Directors.

Yours faithfully

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Sinead Teague Company Secretary Exopharm Limited

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