INOVIQ LTD — M&A Activity 2020

Jul 19, 2020

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ASX RELEASE

Lodgement of Court Order – Scheme becomes effective

Melbourne, Australia, 20 July 2020: Sienna Cancer Diagnostics (ASX: SDX) (“Sienna” or “the Company”) is pleased to announce that a copy of the orders of the Federal Court of Australia approving the scheme of arrangement in relation to the proposed acquisition by BARD1 Life Sciences Limited ( BARD1 ) of all the shares in Sienna ( Scheme ) has been lodged with the Australian Securities and Investments Commission ( ASIC ) today.

As a result of this lodgement, the Scheme is now legally effective. A copy of the court orders are attached as an annexure to this announcement.

As at the close of trading today, Sienna's shares will be suspended from official quotation on the ASX.

Timetable and next steps

The timetable for implementation of the Scheme is as follows:

Event	Date and time
Sienna Shares cease trading on ASX at close of trading	20 July 2020
Scheme Record Date for determining participants in the Scheme and	7pm (AEST) on 23 July 2020
entitlements to Scheme Consideration
Implementation Date– Scheme Shares transferred to BARD1 and	28 July 2020
Scheme Consideration provided to Scheme Participants

Scheme Consideration

On the Implementation Date, Sienna Shareholders will receive 13 New BARD1 Shares for every 5 Sienna Shares held on the Scheme Record Date.

ENDS.

For Further Information, please contact:

Carl Stubbings, CEO & Managing Director Sienna Cancer Diagnostics Ltd cstubbings@siennadiagnostics.com.au +61 3 9548 7586

The release of this announcement was authorised by Tony Di Pietro, Company Secretary.

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About Sienna Cancer Diagnostics Ltd.

Sienna is a medical technology company that develops and commercialises diagnostic tests to assist in the early and accurate diagnosis of cancer, enabling improved treatment and patient outcomes. Sienna’s first product, hTERT, a test that aids in the diagnosis of bladder cancer, has been launched and is being commercialised through a growing network of distribution partners globally.

Sienna entered the global liquid biopsy market in 2019 via the strategic acquisition of a “Molecular Net” technology called SIEN-NET[TM] . The first commercial embodiment of SIEN-NET is EXO-NET[TM] , which has been specifically designed to purify a patient sample for cancer-associated exosomes.

The Company recently announced the signing of an exclusive worldwide licence agreement with the University of Adelaide to develop and commercialise a unique cancer probe, SubB2M, which binds to a unique sugar molecule only present in human cancers and can detect its presence in the serum of cancer patients. SubB2M has the potential to detect cancer in a range of testing modalities such as liquid biopsies, immunoassays, circulating tumor cell assays and PET imaging.

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Annexure: Court Orders

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Federal Court of Australia District Registry: Victoria Division: General

No: VID339/2020

SIENNA CANCER DIAGNOSTICS LIMITED Plaintiff

ORDER

JUDGE: JUSTICE MOSHINSKY DATE OF ORDER: 20 July 2020 WHERE MADE: Melbourne

THE COURT NOTES THAT:

• A. This proceeding concerns a scheme of arrangement between the plaintiff and the holders of ordinary shares in the plaintiff, the terms of which are set out at pages 499 to 520 of Exhibit CSS1 to the affidavit of Carl Stephen Stubbings filed on 3 June 2020 (the Scheme ).

• B. There has been produced to the Court a statement in writing by the Australian Securities and Investments Commission ( ASIC ) in accordance with s 411(17)(b) of the Corporations Act 2001 (Cth) (the Act ) stating that ASIC has no objection to the Scheme.

• C. The “New Bidder Shares” to be issued pursuant to the Scheme (and as defined in the Scheme) will not be registered under the Securities Act of 1933 (US) or the securities laws of any other state jurisdiction in the United States. In connection with the implementation of the Scheme of Arrangement and the issue of the “New Bidder Shares”, the plaintiff and BARD1 Life Sciences Limited intend to rely on this Court’s approval of the Scheme and on s 3(a)(10) of the Securities Act of 1933 (US).

THE COURT ORDERS THAT:

1. Pursuant to s 411(4)(b) of the Act, the Scheme is approved.

Prepared in the Victoria District Registry, Federal Court of Australia Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 03 8600 3333

• 2 -

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1. Pursuant to s 411(12) of the Act, the plaintiff is exempted from compliance with s 411(11) of the Act in respect of the Scheme.

Date that entry is stamped: 20 July 2020

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Prepared in the Victoria District Registry, Federal Court of Australia Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 03 8600 3333

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Schedule

No: VID339/2020

Federal Court of Australia District Registry: Victoria Division: General

Interested Person BARD1 LIFE SCIENCES LIMITED

Prepared in the Victoria District Registry, Federal Court of Australia Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 03 8600 3333