ENTROPY NEURODYNAMICS LIMITED — Board/Management Information 2019

Oct 27, 2019

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ASX ANNOUNCEMENT

APPOINTMENT OF CHIEF COMMERCIAL OFFICER

• Dr Christopher Baldwin has been appointed as Chief Commercial Officer

• Dr Baldwin has extensive commercial, marketing and leadership experience internationally in the blood products and stem cell markets.

• Dr Baldwin assumes a key executive management position within the company and is considered a Key Management Personnel.

28 October 2019

Melbourne, Australia: Regenerative medicine company Exopharm Limited (ASX:EX1) has appointed Dr Christopher Baldwin as its Chief Commercial Officer.

Dr Baldwin has extensive international experience, most recently with Haemonetics Corporation – a world leader in the plasma and blood supply chains and with sales of around US$1b and over 3,000 employees.

Before that, Chris worked with Terumo BCT, Inc. a world leader in blood and stem cell collection technologies. At Terumo his roles included commercial and downstream marketing responsibilities across Asia Pacific and served as director of global business intelligence and strategy.

Chris also worked for McKinsey & Company, New York, NY USA – a global leader in strategic consultancy.

Chris has a PhD in Chemical Engineering from University of Cambridge, Trinity College, England.

Dr Baldwin joins Exopharm at our Melbourne headquarters to apply his strengths across strategy, marketing, relationships and communications – positioning Exopharm with investors and the broad international regenerative medicine industry.

Dr Dixon said ‘The three pillars of value creation for Exopharm are manufacturing, product testing and communications. Chris joins us to strengthen our communication capabilities and tell our story internationally. This appointment adds to our existing team – a team with deep experience and credibility across all areas of our business.’

Details of Dr Baldwin’s employment agreement are included in Appendix A.

Company and Media Enquiries:

Dr Ian Dixon, MBA Join our mailing list to receive updates: Founder and Managing Director info@exopharm.com P: +61 (0)3 9111 0026 www.exopharm.com ian.dixon@exopharm.com P: +61 (0)3 9111 0026

Rudi Michelson, Monsoon Communications Tel: +61 (0)3 9620 3333

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

ABOUT EXOPHARM

Exopharm Limited (“Exopharm” or the “Company”) (ASX:EX1) is a clinical stage Australian regenerative medicine biopharmaceutical company seeking to develop and commercialise exosomes as therapeutic agents – initially a product called Plexaris™ and later a product called Exomeres™.

These products are exosomes that are derived from human platelets (Plexaris), and adult stem cells in (Exomeres), each purified using the LEAP Technology and regulated as biologic products.

As its primary focus, Exopharm aims to be a leader in the field of human therapeutics using exosomes as regenerative medicine products for heath span related conditions.

The Development Program: The Company’s main objectives for the next 12 months are to complete the following stages of its Development Program:

1. manufacturing - make and supply clinical grade autologous Plexaris product and development of the Exomere manufacturing process;

2. clinical use - initial small-scale human clinical studies of autologous Plexaris in wound healing, being the PLEXOVAL study;

3. supporting research and development activities - conducting research activities to support the ongoing Development Program and the development of related intellectual property; and

4. to also investigate other LEAP Technology Opportunities.

FORWARD LOOKING STATEMENTS

This announcement contains forward-looking statements which incorporate an element of uncertainty or risk, such as ‘intends’, ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘aims’, ‘plans’ or ‘expects’. These statements are based on an evaluation of current corporate estimates, economic and operating conditions, as well as assumptions regarding future events. These events are, as at the date of this announcement, expected to take place, but there cannot be any guarantee that such events will occur as anticipated or at all given that many of the events are outside of Exopharm’s control or subject to the success of the Development Program. Furthermore, the Company is subject to several risks as disclosed in the Prospectus dated 6 November 2018.

Inherent risks of Investment in Biotechnology Companies

There are a number of inherent risks associated with the development of biopharmaceutical products to a marketable stage. The lengthy clinical trial process is designed to assess the safety and efficacy of a drug prior to commercialisation and a significant proportion of drugs fail one or both of these criteria. Other risks include uncertainty of patent protection and proprietary rights, whether patent applications and issued patents will offer adequate protection to enable product development, the obtaining of necessary drug regulatory authority approvals and difficulties caused by the rapid advancements in technology. Companies such as Exopharm are dependent on the success of their research and development projects and on the ability to attract funding to support these activities. Investment in research and development projects cannot be assessed on the same fundamentals as trading and manufacturing enterprises. Therefore, investment in companies specialising in drug development must be regarded as highly speculative. Exopharm strongly recommends that professional investment advice be sought prior to such investments.

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Appendix A: Employment details: Dr Christopher Baldwin

Topic	**Description **
Full name:	Christopher Baldwin, PhD.
Employment type:	Fulltime, ongoing standard employment agreement
Role title:	ChiefCommercialOfficer
Base Remuneration:	•Base remuneration: $330,000 per annum (inclusive ofSuperannuation)
Bonus Remuneration:	•Annual Bonus 1: At-risk annual Cash bonus of up to$33,000 (inclusive of Superannuation) based on KPIsto be set; and•Annual Bonus 2: At-risk annual Share bonus for first12 months for the smaller of 75,000 shares (FPO) or$75,000 (inclusive of Superannuation) based on KPIsto be set.
TerminationClause:	With3months’ notice by eitherparty
Other:	Otherclauses as pera standard employment agreement.

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