MESOBLAST LTD — Director's Dealing 2026

Jan 5, 2026

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity MESOBLAST LIMITED ABN 68 109 431 870

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of DirectorDate of last notice	Gregory George23 December 2025

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest		Direct and indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.		JP Morgan Nominees Australia Pty Limited (Interestin ordinary shares held in the form of AmericanDepositary Shares (“ADS”) held by custodian JPMorgan Nominees Australia Pty Limited.) Each ADSrepresents a beneficial interest in 10 ordinary shares.Certain shares and ADSs held by G to the FourthInvestments, LLC which is controlled by GregoryGeorge.Certain ADSs held by James George and GrantGeorge, who have given power of attorney toGregory George in respect of those ADSs.
Date of change		6 January 2026
No. of securities held prior to change		Direct5 ordinary shares12,829,328 ADSs.200,000 warrants convertible into ADS.4,000,000 warrants to acquire ordinary shares (or theapplicable number of ADS at the holder’s election).Indirect9,640,077 ordinary shares.12,908,777 ADS.6,830,602 warrants to acquire ordinary shares.

Appendix 3Y Change of Director’s Interest Notice

Class	Warrants to acquire ordinary shares (or the applicable
	number of ADS at the holder’s election).
Number acquired	Nil
Number disposed	Lapse of 2,400,000 warrants to acquire ordinary
	shares (or the applicable number of ADS at the
	holder’s election).
Value/Consideration	Nil (these warrants lapsed in accordance with their
Note: If consideration is non-cash, provide details andestimated valuation	terms on 6 January 2026, as the Company did not
	drawdown on the convertible note facility that was
	approved by shareholders on 25 November 2025).
No. of securities held after change	Direct
	5 ordinary shares
	12,829,328 ADSs.
	200,000 warrants convertible into ADS.
	1,600,000 warrants to acquire ordinary shares (or the
	applicable number of ADS at the holder’s election).
	Indirect
	9,640,077 ordinary shares.
	12,908,777 ADS.
	6,830,602 warrants to acquire ordinary shares
Nature of change	Lapse of warrants, as noted above.
Example: on-market trade, off-market trade, exercise of
options, issue of securities under dividend reinvestment plan,
participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired
Interest disposed

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow thetrade to proceed during this period?
If prior written clearance was provided, on what date wasthis provided?

• See chapter 19 for defined terms.

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