GENETIC TECHNOLOGIES LIMITED — Capital/Financing Update 2020

May 26, 2020

Proposed issue of securities

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Announcement Summary

Entity name

GENETIC TECHNOLOGIES LIMITED

Announcement Type

New announcement

Date of this announcement

Wednesday May 27, 2020

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

Maximum Number of ASX +Security Code +Security Description +securities to be issued GTG ORDINARY FULLY PAID 2,400,000,000

Proposed +issue date

Friday May 29, 2020

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of +Entity

GENETIC TECHNOLOGIES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ACN

Registration Number

009212328

1.3 ASX issuer code

GTG

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Wednesday May 27, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity

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No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +Security Code and Description

GTG : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued

2,400,000,000

Purpose of the issue

The Company intends to use the net proceeds from this offering to support the introduction and distribution of our new products in the United States, for implementation of our consumer-initiated testing platform, preparation for potential COVID-19 testing should it be required by Government agencies to assist with test demand and working capital.

Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? USD - US Dollar USD 0.00330

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AUD equivalent to Offer Price amount per +security 0.005000 FX rate (in format AUD 1.00 / primary FX rate (in format AUD rate/primary currency rate): currency rate) Primary Currency rate USD 1.50000000 AUD 1.00 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Oversubscription & Scale back details May a scale back be applied to this event? No

Part 7C - Timetable 7C.1 Proposed +issue date Friday May 29, 2020 Part 7D - Listing Rule requirements 7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Monday April 20, 2020 7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? No 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

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7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

H.C. Wainwright & Co., LLC

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

The Company agreed to pay the placement agent, H.C. Wainwright & Co., LLC, a cash placement fee equal to 7.5% of the aggregate purchase price for the ADSs sold in the offering.

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

The Company will issue the 4,000,000 ADSs or 2,400,000,000 ordinary shares equivalent pursuant to Resolution 2 approved by shareholders at its General Meeting held on 20 April 2020 (2,066,498,800 Shares) and under its ASX Listing Rule 7.1 placement capacity (333,501,200 Shares).

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