Opthea Ltd — Major Shareholding Notification 2021

Dec 22, 2021

Form 605

Corporations Act 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

Dec 21, 2021 Dec 16, 2021 Dec 14, 2021

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 Person whose Nature of Change (4) Consideration Class (6) and Person’s votes change relevant interest given in relation Number of affected changed to change (5) securities affected 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 Limited	Level 34, 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 Markets (Australia) Pty. Limited	Level 34, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000, Australia
Merrill Lynch International	2 King Edward Street, London, England, EC1A 1HQ, United Kingdom
BofA Securities, Inc.	One Bryant Park, New York NY 10036, USA

SIGNATURE

Print Name: Sign Here:	Kelvin Kwok Capacity: Authorised signatory
	Date: Dec 23, 2021

Appendix A

**Date of change **	Person whose relevant interest changed	Nature of change (4)	Consideration(5)	Class (6) of securities	Securities affected	Person's votes affected	Remark
12/15/2021	Merrill Lynch International	Securitiesreturned	N/A	Ordinary	-174,049	-1,392,392	RefertoApp. B
12/15/2021	BofASecurities,Inc.	Securitiesreturned	N/A	ADS	-100	-800	RefertoApp. B
12/15/2021	BofASecurities,Inc.	Securitiesreturned	N/A	ADS	-400	-3,200	RefertoApp. B
12/15/2021	Merrill Lynch(Australia)FuturesLimited	SELL	-52,467	Ordinary	-43,361	-43,361	N/A
12/15/2021	Merrill Lynch(Australia)FuturesLimited	BUY	14,862	Ordinary	12,209	12,209	N/A
12/15/2021	Merrill Lynch(Australia)FuturesLimited	BUY	37,409	Ordinary	30,120	30,120	N/A
12/15/2021	Merrill Lynch(Australia)FuturesLimited	BUY	2,588	Ordinary	2,139	2,139	N/A
12/16/2021	Merrill Lynch International	Securities borrowed	N/A	ADS	176,416	1,411,328	RefertoApp. B
12/16/2021	BofASecurities,Inc.	Securitiesreturned	N/A	ADS	-100	-800	RefertoApp. B
12/16/2021	Merrill Lynch (Australia) Futures Limited	SELL	-12,306	Ordinary	-10,046	-10,046	N/A
12/16/2021	Merrill Lynch(Australia)FuturesLimited	BUY	12,372	Ordinary	10,046	10,046	N/A
12/16/2021	Merrill Lynch(Australia)FuturesLimited	BUY	1	Ordinary	1	1	N/A
12/16/2021	Merrill Lynch International	BUY	30	Ordinary	24	24	N/A
12/16/2021	Merrill Lynch International	SELL	-30	Ordinary	-24	-24	N/A
12/17/2021	Merrill Lynch International	Securitiesreturned	N/A	ADS	-208,092	-1,664,736	RefertoApp. B
12/17/2021	Merrill Lynch International	Securitiesreturned	N/A	ADS	-176,416	-1,411,328	RefertoApp. B
12/17/2021	Merrill Lynch International	Securities borrowed	N/A	ADS	384,508	3,076,064	RefertoApp. B
12/17/2021	BofASecurities,Inc.	Securitiesreturned	N/A	ADS	-400	-3,200	RefertoApp. B
12/17/2021	Merrill Lynch(Australia)FuturesLimited	SELL	-15,624	Ordinary	-12,065	-12,065	N/A
12/17/2021	Merrill Lynch(Australia)FuturesLimited	BUY	15,265	Ordinary	12,065	12,065	N/A
12/20/2021	Merrill Lynch International	Securitiesreturned	N/A	ADS	-6,444	-51,552	RefertoApp. B
12/20/2021	Merrill Lynch International	Securitiesreturned	N/A	ADS	-400	-3,200	RefertoApp. B
12/20/2021	Merrill Lynch(Australia)FuturesLimited	SELL	-16,343	Ordinary	-12,818	-12,818	N/A
12/20/2021	Merrill Lynch(Australia)FuturesLimited	BUY	15,379	Ordinary	11,974	11,974	N/A

12/20/2021	Merrill Lynch (Australia) Futures Limited	BUY	9,306	Ordinary	7,288	7,288	N/A
12/20/2021	Merrill Lynch(Australia)FuturesLimited	SELL	-337	Ordinary	-264	-264	N/A
12/21/2021	Merrill Lynch International	Securitiesreturned	N/A	ADS	-334,952	-2,679,616	RefertoApp. B
12/21/2021	Merrill Lynch International	Securitiesreturned	N/A	ADS	-100	-800	RefertoApp. B
12/21/2021	Merrill Lynch(Australia)FuturesLimited	SELL	-10,869	Ordinary	-8,558	-8,558	N/A
12/21/2021	Merrill Lynch(Australia)FuturesLimited	BUY	10,892	Ordinary	8,558	8,558	N/A

Appendix B-1: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Susquehanna Pacific Pty Ltd
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 Markets (Australia) Pty Limited and Virtu Financial Asia Pty Ltd
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 Markets (Australia) Pty 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-4: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty 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-5: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty 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-6: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Equity Trustees Limited as Trustee and RE 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

Appendix B-7: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Amazon Market Neutral Fund (GCM)
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-8: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty Limited and Zambezi Absolute Return Fund (GCM)
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-9: Prescribed information

Type of agreement	Securities Lending Agreement
Parties to agreement	BofA Securities, Inc. and INTERACTIVE BROKERS
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-10: Prescribed information

Type of agreement	Securities Lending Agreement
Parties to agreement	BofA Securities, Inc. and JP MORGAN BANK AS AGENT
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-11: Prescribed information

Type of agreement	Securities Lending Agreement
Parties to agreement	Merrill Lynch International and STATE STREET B&T (BOSTON BILAT)
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 C

Appendix C
Related bodies corporate	Incorporated	**ACN/Registration/Incorporation Number **
Merrill Lynch International	United Kingdom	2312079
MLUKCapital HoldingsLimited	UnitedKingdom	4971231
BofAML EMEA Holdings2 Limited	United States	119605
Merrill Lynch (Australia) Futures Limited	Australia	003639674
Merrill Lynch Markets (Australia)Pty. Limited	Australia	075587816
Merrill Lynch(Australasia)Pty. Ltd	Australia	075923894
Bankof America Global Holdings,LLC	United States	5169939
BofAMLJerseyHoldingsLimited	Jersey	115831
BofA Securities, Inc.	United States	5793661
NB Holdings Corporation	United States	2361372
Bankof America Corporation	United States	N/A628