Opthea Ltd — Major Shareholding Notification 2019

Nov 24, 2019

Form 605

Corporations Law Section 671B Notice of ceasing to be a substantial holder

To: Company Name/Scheme OPTHEA LTD ACN/ ~~ARSN~~ 006 340 567

1. Details of substantial holder (1)

Name

Bank of America Corporation and its related bodies corporate (See Appendix C)

ACN/ARSN (if applicable):

The holder ceased to be a substantial shareholder on

The previous notice was given to the company on

The previous notice was dated

21 November 2019 20 November 2019 18 November 2019

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of Change (4)	Consideration given in relation to change (5)	Class (6) and Number of securities affected	Person’s votes affected
Please see Appendix A

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

4. Addresses

The addresses of persons named in this form are as follows:

Name	Addresses
Bank of America Corporation	100 North Tryon Street, Charlotte, North Carolina, 28255, USA
Merrill Lynch (Australia) Futures Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000,Australia
Merrill Lynch (Australia) Nominees Pty Ltd	Level 19, 120 Collins St, Melbourne Vic 3000, Australia
Merrill Lynch International (Australia) Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000,Australia

Merrill Lynch International

2 King Edward Street, London, England, EC1A 1HQ, United Kingdom.

SIGNATURE

Print Name: Kelvin Kwok Capacity: Authorised signatory Sign Here: Date: 25 November 2019

Appendix A

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration (5)	Class (6) of securites	Securities affected	Person's votes affected	Remark
11/20/2019	Merrill Lynch International(Australia)Limited	Securitiesreturned	N/A	Ordinary	(8,041)	(8,041)	RefertoApp. B
11/21/2019	Merrill Lynch International(Australia)Limited	Securities borrowed	N/A	Ordinary	627,265	627,265	RefertoApp. B
11/21/2019	Merrill Lynch International(Australia)Limited	Securitiesreturned	N/A	Ordinary	(89,332)	(89,332)	RefertoApp. B
11/21/2019	Merrill Lynch International(Australia)Limited	Securitiesreturned	N/A	Ordinary	(206,572)	(206,572)	RefertoApp. B
11/21/2019	Merrill Lynch International(Australia)Limited	Securitiesreturned	N/A	Ordinary	(124,836)	(124,836)	RefertoApp. B
11/21/2019	Merrill Lynch International(Australia)Limited	Securitiesreturned	N/A	Ordinary	(198,484)	(198,484)	RefertoApp. B
11/19/2019	Merrill Lynch(Australia)FuturesLtd	BUY	69,211	Ordinary	23,866	23,866	N/A
11/19/2019	Merrill Lynch(Australia)FuturesLtd	SELL	(597)	Ordinary	(206)	(206)	N/A
11/19/2019	Merrill Lynch(Australia)FuturesLtd	BUY	806	Ordinary	278	278	N/A
11/19/2019	Merrill Lynch(Australia)FuturesLtd	SELL	(3,480,000)	Ordinary	(1,200,000)	(1,200,000)	N/A
11/20/2019	Merrill Lynch(Australia)FuturesLtd	SELL	(1,218)	Ordinary	(406)	(406)	N/A
11/20/2019	Merrill Lynch(Australia)FuturesLtd	SELL	(58,456)	Ordinary	(19,706)	(19,706)	N/A
11/20/2019	Merrill Lynch(Australia)FuturesLtd	SELL	(9,600)	Ordinary	(3,200)	(3,200)	N/A
11/20/2019	Merrill Lynch(Australia)FuturesLtd	BUY	2,057	Ordinary	694	694	N/A
11/21/2019	Merrill Lynch(Australia)FuturesLtd	BUY	39,499	Ordinary	14,281	14,281	N/A
11/21/2019	Merrill Lynch(Australia)FuturesLtd	SELL	(12,056)	Ordinary	(4,229)	(4,229)	N/A
11/21/2019	Merrill Lynch(Australia)FuturesLtd	BUY	8,471	Ordinary	2,911	2,911	N/A
11/21/2019	Merrill Lynch(Australia)FuturesLtd	SELL	(26,747)	Ordinary	(9,647)	(9,647)	N/A
11/21/2019	Merrill Lynch(Australia)Futures Ltd	SELL	(16,620,000)	Ordinary	(6,000,000)	(6,000,000)	N/A

Appendix B-1: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch International (Australia) Limited and Regal Funds Management Pty Limited as Trustee of Regal Australian Long Short Equity Fund
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-2: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch International (Australia) Limited and Regal Funds Management Pty Limited as Trustee of Tasman Market Neutral Fund
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-3: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch International (Australia) Limited and Regal Funds Management Pty Limited as Trustee of Atlantic Absolute Return Fund
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-4: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch International (Australia) Limited and SSWTRADING GMBH
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-5: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch International (Australia) Limited and Integrated Core Strategies(Asia)
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-6: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch International (Australia) Limited and Equity Trustees Limited As Trustee And Responsible Entity Of Regal Investment Fund
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

A ndix C ppe

AppendixC
Related bodies corporate	Incorporated	ACN/Registration/Incorporation Number
Merrill Lynch International	United Kingdom	2312079
MLUKCapital Holdings	United Kingdom	4971231
BofAML EMEA Holdings2 Limited	United States	119605
Merrill Lynch(Australia)FuturesLimited	Australia	003639674
Merrill Lynch International(Australia)Limited	Australia	002892846
Merrill Lynch Markets (Australia)Pty. Limited	Australia	075587816
Merrill Lynch(Australasia)Pty. Limited	Australia	075923894
Bankof America Global Holdings,LLC	United States	5169939
BofAMLJerseyHoldingsLimited	Jersey	115831
NB Holdings Corporation	United States	2361372
Bankof America Corporation	United States	N/A628