ENTROPY NEURODYNAMICS LIMITED — Share Issue/Capital Change 2022

Oct 13, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

EXOPHARM LIMITED

Date of this announcement

Friday October 14, 2022

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	PERFORMANCE RIGHTS	2,650,000	11/10/2022
to be confirmed

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

EXOPHARM LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ACN

Registration number

163765991

1.3 ASX issuer code

EX1

1.4 The announcement is

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New announcement

1.5 Date of this announcement

14/10/2022

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities issued under an +employee incentive scheme

ASX +security code New class - code to be confirmed	+Security description PERFORMANCE RIGHTS
+Security type	ISIN code
Other

Date the +securities the subject of this notification were issued

11/10/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Mr David Oxley	Mr David Oxley	500,000
Dr Michael West	Dr Michael West	350,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02285080-6A997551?access_token=83 ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02285080-6A997551?access_token=83 ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Performance Rights issued to various employees of the Company, which, unless cancelled or incapable of vesting, will automatically convert to Fully Paid Ordinary Shares subject to the VWAP for twenty consecutive trading days upon which the Company's shares have actually traded on ASX is as at 31 December 2022, or at any time between the date of issue of the Performance Rights and 31 December 2022 (both inclusive) has been, at least thirty cents ($0.30).

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Issue details

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Number of +securities

2,650,000

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

		Total number of
ASX	+security code and description	+securities on issue
EX1	: ORDINARY FULLY PAID	157,211,533

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
EX1AE : OPTION EXPIRING 09-NOV-2025 EX $0.40	1,500,000
EX1AF : OPTION EXPIRING 09-NOV-2025 EX $0.60	1,500,000
EX1AG : OPTION EXPIRING 09-NOV-2025 EX $0.90	1,500,000
New class - code to be confirmed : PERFORMANCE RIGHTS	2,650,000

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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