Opthea Ltd — Major Shareholding Notification 2020

Apr 15, 2020

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Opthea Ltd (OPT) ACN/ARSN 006 340 567 1. Details of substantial holder (1) Name Regal Funds Management Pty Ltd (RFM) ACN/ARSN (if applicable) 107 576 821

There was a change in the interests of the substantial holder
on	14/04/2020
The previous notice was given to the company on	18/03/2020
The previous notice was dated	11/03/2020

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

follows:
	Previous	notice	Current notice
Class of securities (4)
	Person's votes	Voting power (5)	Person's votes		Voting power (5)
ORDINARY	34,346,537	12.76%	31,579,466		11.73%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate 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:

Holder of relevantinterest	Date of acquisition	Nature ofchange	Consideration (9)	Class and number of securities
REGAL FUNDSMANAGEMENT PTY LTD	12/03/2020 - 09/04/2020	BUY	$1.1906 - $2.4213 p/share	2,541,523 ORDINARY
REGAL FUNDSMANAGEMENT PTY LTD	13/03/2020 - 14/04/2020	SELL	$1.3188 - $2.3089 p/share	5,308,594 ORDINARY

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registeredas holder (8)	Nature ofrelevantinterest (6)	Class andnumber ofsecurities	Person'svotes
UBS AG, AUSTRALIABRANCH	UBS NOMINEES PTY LTD	UBS AG, AUSTRALIABRANCH	HOLDER OFSHARES	13,049,237ORDINARY	13,049,237
MORGAN STANLEY & COINTL PLC	HSBC CUSTODY NOMINEES(AUSTRALIA) LIMITEDA/C 2	MORGAN STANLEY & COINTL PLC	HOLDER OFSHARES	2,262,070ORDINARY	2,262,070
MERRILL LYNCHINTERNATIONAL LIMITED	MERRILL LYNCH (AUS) NOMINEES PTYLTD	MERRILL LYNCHINTERNATIONAL LIMITED	HOLDER OFSHARES	8,599,458ORDINARY	8,599,458
CREDIT SUISSE AG	CS THIRD NOMINEES PTY LIMITED	CREDIT SUISSE AG	HOLDER OFSHARES	7,668,701ORDINARY	7,668,701

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) 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 NOT APPLICABLE 6. Addresses The addresses of persons named in this form are as follows: Name Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE PHILIP KING SYDNEY NSW 2000 Signature print name Philip King capacity Director sign here date 16/04/2020