Opthea Ltd — Capital/Financing Update 2022

Aug 24, 2022

25 August 2022

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Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by Opthea Limited (ACN 006 340 567) (ASX:OPT) ( Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Company has today issued 52,822,881 new fully paid ordinary shares ( Placement Shares ) at an issue price of A$1.15 per Placement Share under the first tranche of a placement to certain institutional and sophisticated investors as announced by the Company on Monday, 15 August 2022 ( Placement ).

The Placement is being conducted in conjunction with a non-underwritten share purchase plan, also announced by the Company on Monday, 15 August 2022.

In relation to the Placement, the Company confirms that:

• (a) the Placement Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708A(5)(e) of the Corporations Act;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) sections 674 and 674A of the Corporations Act; and

• (d) as at the date of this notice, there is no "excluded information" of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act that is required to be set out in this notice.

Yours sincerely

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Karen Adams

This announcement was authorized to be given to the ASX by the Company Secretary.

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Opthea Limited, Suite 0403, Level 4, 650 Chapel Street, South Yarra, Victoria 3141, Australia A.C.N. 006 340 567 l Telephone: +61 3 9826 0399 l Website: www.opthea.com