GENETIC TECHNOLOGIES LIMITED — Capital/Financing Update 2016

Dec 1, 2016

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ASX ANNOUNCEMENT 2 December 2016

Genetic Technologies Announces AUD 8.1 Million Capital Raising

Melbourne, Australia, 2 December 2016: Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE, “Company”), a molecular diagnostics company and provider of BREVAGen plus ®, a first-inclass, clinically validated risk assessment test for sporadic (non-hereditary) breast cancer, is pleased to announce that it has raised approximately AUD 8.1 million at a weighted average issue price of AUD 0.0113 per ordinary share by way of securing commitments to invest from professional and sophisticated investors in the United States.

GTG is selling the securities directly to the U.S. investors and has retained Maxim Group LLC to act as placement agent for GTG in connection with this offering.

The offer is for 720,000,000 fully paid ordinary shares, represented by 4,800,000 American Depositary Shares (ADS). Each ADS represents one hundred and fifty (150) ordinary shares in Genetic Technologies Limited. The ADSs are listed on the NASDAQ Capital Market under the symbol “GENE” and our ordinary shares are listed on the Australian Securities Exchange under the symbol “GTG”.

Receipt of funds and issue of the shares is expected to be on our about December 6, 2016 upon the closing of the capital raising. No shareholder approval is required prior to the issue of the shares under the Placement.

The funds raised under the Financing will be used to support the Company's medium-term capital requirements and, together with existing cash reserves, will assist to facilitate the Company’s expansion requirements in relation to its breast cancer risk test, BREVAGen plus, the development and commercialisation of a Colorectal cancer (CRC) risk assessment test, as recently announced and for general working capital purposes.

Eutillio Buccilli, Genetic Technologies’ Chief Executive Officer, commented: “The Board is extremely pleased with our successful securing of commitments for approximately AUD 8.1 million further capital on the above terms. The capital raised will significantly enhance the Company’s long term future and ability to achieve our overall corporate mission to become a leader in the genomics-focused oncology diagnostics industry while enhancing our pipeline of risk-assessment products.”

About Genetic Technologies Limited

Genetic Technologies is a molecular diagnostics company that offers predictive testing and assessment tools to help physicians proactively manage women’s health. The Company’s lead product, BREVAGen plus ®, is a clinically validated risk assessment test for non-hereditary breast cancer and is first in its class. BREVAGen plus ® improves upon the predictive power of the first generation BREVAGen™ test and is designed to facilitate better informed decisions about breast cancer screening and preventive treatment plans. BREVAGen plus ® expands the application of BREVAGen™ from Caucasian women to include African-Americans and Hispanics, and is directed

Genetic Technologies Limited • Website : www.gtglabs.com • Email : info@gtglabs.com ABN 17 009 212 328 Registered Office • 60-66 Hanover Street Fitzroy Victoria 3065 Australia • Postal Address P.O. Box 115 Fitzroy Victoria 3065 Australia Phone +61 3 8412 7000 • Fax +61 3 8412 7040

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towards women aged 35 years or above, who have not had breast cancer and have one or more risk factors for developing breast cancer.

The Company has successfully launched the first generation BREVAGen™ test across the U.S. via its U.S. subsidiary Phenogen Sciences Inc. and the addition of BREVAGen plus ®, launched in October 2014, significantly expands the applicable market. The Company markets BREVAGen plus ® to healthcare professionals in comprehensive breast health care and imaging centres, as well as to obstetricians/gynaecologists (OBGYNs) and breast cancer risk assessment specialists (such as breast surgeons).

For more information, please visit www.brevagenplus.com and www.phenogensciences.com.

Safe Harbor Statement

Any statements in this press release that relate to the Company's expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Since this information may involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Additional risks associated with Genetic Technologies' business can be found in its periodic filings with the SEC.

FOR FURTHER INFORMATION PLEASE CONTACT

Mr. Eutillio Buccilli Candice Knoll (USA) Executive Director & Chief Executive Officer Blueprint Life Science Group Genetic Technologies Limited +1 (415) 375 3340, Ext. 4 + 61 3 8412 7050

Genetic Technologies Limited • Website : www.gtglabs.com • Email : info@gtglabs.com ABN 17 009 212 328 Registered Office • 60-66 Hanover Street Fitzroy Victoria 3065 Australia • Postal Address P.O. Box 115 Fitzroy Victoria 3065 Australia Phone +61 3 8412 7000 • Fax +61 3 8412 7040