ENTROPY NEURODYNAMICS LIMITED — Director's Dealing 2021

Feb 9, 2021

==> picture [595 x 64] intentionally omitted <==

Mr Daniel Nicholson Adviser, Listings Compliance Australian Securities Exchange Level 40, Central Park, 152-158 St Georges Terrace Perth WA 6000

10 February 2021

Dear Daniel,

Change of Director’s Interest Notices

I refer to the attached Change of Director’s Interest Notices (Appendix 3Ys) for Exopharm Limited (ASX: EX1) (“ Exopharm ” or the “ Company ”). The Appendix 3Ys are for Mr Jason Watson and Dr Ian Dixon and show the change in their respective interests caused by the lapse of unlisted performance rights under Exopharm’s Performance Rights Plan (the Plan).

As announced to ASX on 4 January 2021, the performance rights lapsed in accordance with the terms of the Plan on 1 January 2021. Under Listing Rule 3.19A, the Appendix 3Ys should have been announced within 5 business days of the change of interests.

The late announcement was caused by an administrative oversight during the Christmas holiday period.

As required under Listing Rule 3.19B, the Company has arrangements in place with the Directors to ensure that it can meet its disclosure obligations under Listing Rule 3.19A. The Company is satisfied that it has the necessary reporting procedures in place and that this late notification is an isolated incident.

Yours sincerely,

Elizabeth McGregor Company Secretary Tel: (02) 8072 1400

Company and Media Enquiries:

Dr Ian Dixon, MBA Founder and Managing Director P: +61 (0)3 9111 0026 ian.dixon@exopharm.com

Join our mailing list to receive updates: info@exopharm.com www.exopharm.com P: +61 (0)3 9111 0026

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

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:	Exopharm Limited
ABN:	78 163 765 991

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	Mr Jason M Watson
Date of last notice	23 December 2020

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 (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Watson Practice Company Pty Ltd A/C> (Director and Controller)
Date of change	1 January 2021
No. of securities held prior to change	350,000 Fully Paid Ordinary Shares 90,000 Unlisted Performance Rights
Class	Fully Paid Ordinary Shares Unlisted Performance Rights
Number acquired	Nil
Number disposed	30,000 Unlisted Performance Rights
Value/Consideration Note: If consideration is non‐cash, provide details and estimated valuation	Nil
No. of securities held after change	350,000 Fully Paid Ordinary Shares 60,000 Unlisted Performance Rights

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐back

30,000 Unlisted Performance Rights granted under the Company’s Performance Rights Plan (the Plan) lapsed in accordance with the terms of the Plan, as announced to ASX on 4 January 2021.

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	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non‐cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

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	Exopharm Limited
ABN	78 163 765 991

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	Dr Ian E Dixon
Date of last notice	2 December 2020

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 (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Altnia Holdings Pty Ltd (Director and Controller)
Date of change	1 January 2021
No. of securities held prior to change	28,175,294 Fully Paid Ordinary Shares 250,000 Unlisted Performance Rights
Class	Fully Paid Ordinary Shares Unlisted Performance Rights
Number acquired	Nil
Number disposed	83,333 Unlisted Performance Rights
Value/Consideration Note: If consideration is non‐cash, provide details and estimated valuation	Nil
No. of securities held after change	28,175,294 Fully Paid Ordinary Shares 166,667 Unlisted Performance Rights

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐back

83,333 Unlisted Performance Rights granted under the Company’s Performance Rights Plan (the Plan) lapsed in accordance with the terms of the Plan, as announced to ASX on 4 January 2021.

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	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non‐cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011