MORPHIC ETHICAL EQUITIES FUND LIMITED — Director's Dealing 2018

Aug 26, 2018

Appendix 3Y Change of Director’s Interest Notice

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: Morphic Ethical Equities Fund Limited (MEC)

ABN: 52 617 345 123

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 Director	Jack Theseus Lowenstein
Date of last notice	16 August 2018

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 the relevantinterest.	Indirect interests are through Morphic AssetManagement Pty Ltd (MAM). Mr Lowensteinis a director and shareholder of MAM.
Date of change	21 August 2018 and 22 August 2018
No. of securities held prior to change	Direct:500,001 Ordinary Shares700,000 OptionsIndirect:11,874 Ordinary shares80,000 Options
Class	Shares and options
Number acquired	Direct:4,599 sharesIndirect:229 shares
Number disposed	Indirect:5,000 shares

• See chapter 19 for defined terms.

01/01/2011

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Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Direct:4,599 shares acquired under DRP at $5,000Indirect:229 shares acquired under DRP at $2495,000 shares disposed at $5,500
No. of securities held after change	Direct:504,600 Ordinary Shares700,000 OptionsIndirect:7,103 Ordinary shares80,000 Options
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back	Acquisitions were under DRP.Disposal was through off-market trade.

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 towhich interest related prior tochangeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation
Interest after change

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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.

01/01/2011

Appendix 3Y Page 3