GENETIC TECHNOLOGIES LIMITED — Capital/Financing Update 2020

Apr 20, 2020

Proposed issue of securities

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Announcement Summary

Entity name

GENETIC TECHNOLOGIES LIMITED

Announcement Type

New announcement

Date of this announcement

Tuesday April 21, 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 433,501,200

Proposed +issue date

Wednesday April 22, 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

Tuesday April 21, 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 No

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +Security Code and Description

GTG : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued 433,501,200

Purpose of the issue

The Company intends to use the net proceeds to fund capacity for COVID-19 testing and development of polygenic risk score testing and general 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 AUD equivalent to Offer Price amount per +security

0.005300

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FX rate (in format AUD 1.00 / primary FX rate (in format AUD rate/primary currency rate): currency rate) Primary Currency rate USD 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

Wednesday April 22, 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

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

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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?

A cash placement fee equal to 7.5% of the aggregate purchase price for the ADSs sold in the offering and $25,000 for expenses. The placement agent will also receive compensation warrants in an amount equal to 6.5% of the aggregate number of ADSs sold in the offering, at an exercise price of $2.50 per ADSs and a term expiring on April 19, 2025.

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

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