Opthea Ltd — Major Shareholding Notification 2023

Sep 24, 2023

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)

Regal Funds Management Pty Limited and its associates Name (see Annexure 1) -

ACN/ARSN (if applicable)

The previous notice was given to the company on The previous notice was dated There was a change in the interests of the substantial holder on	21/09/2023
	23/06/2023
	21/06/2023

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:

Class of securities (4)	Previous notice	Previous notice	Current notice	Current notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
ORDINARY	73,087,499	15.65%	129,001,880	*19.46%
ADS each representing 8 ordinary shares	2,910,178	4.98%	2,895,987	*3.50%

*The % substantial is based on the shares on issue of 662,806,891 as disclosed by the Company on 21-09-2023.

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 relevant interest	Date of acquisition	Consideration (9)	Class and number of securities
	See Annexure 2

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 registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Regal Funds Management Pty Ltd and its associates	UBS Nominees Pty Ltd	UBS AG, Australia Branch	HOLDER OF SHARES	57,623,887 Ordinary	57,623,887
	UBS Securities LLC & Citibank			1,072,987 ADS	8,583,896
Regal Funds Management Pty Ltd and its associates	HSBC Custody Nominees (Australia) Limited A/C 2	Morgan Stanley & Co Intl Plc	HOLDER OF SHARES	6,703,037 Ordinary	6,703,037
Regal Funds Management Pty Ltd and its associates	HSBC CUSTODY NOMINEES	HSBC Bank Australia Ltd	HOLDER OF SHARES	1,532,932 Ordinary	1,532,932

Regal Funds Management Pty Ltd and its associates	Merrill Lynch (Australia) Nominees Pty Limited	Merrill Lynch International Limited	HOLDER OF SHARES	31,986,575 Ordinary	31,986,575
	Merrill Lynch Pierce Fenner & Smith			1,345,000 ADS	10,760,000
Regal Funds Management Pty Ltd and its associates	J.P. MORGAN PRIME NOMINEES LTD	J.P. MORGAN SECURITIES PLC	HOLDER OF SHARES	31,155,449 Ordinary	31,155,449
	J.P. MORGAN SECURITIES LLC	J.P. MORGAN SECURITIES LLC		478,000 ADS	3,824,000

5. Changes in association 6. Addresses The addresses of persons named in this form are as follows: Signature print name capacity sign here date 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: CompanySecretary Name and ACN/ARSN (if applicable) REGAL PARTNERS LIMITED Nature of association 100% OWNER OF REGAL FUNDS MANAGEMENT PTY LIMITED Name REGAL PARTNERS LIMITED Address LEVEL 47, GATEWAY, 1 MACQUARIE PLACE, SYDNEY NSW 2000 KennyHo REGAL FUNDS MANAGEMENT PTY LIMITED LEVEL 47, GATEWAY, 1 MACQUARIE PLACE, SYDNEY NSW 2000 25/09/2023	5. Changes in association 6. Addresses The addresses of persons named in this form are as follows: Signature print name capacity sign here date 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: CompanySecretary Name and ACN/ARSN (if applicable) REGAL PARTNERS LIMITED Nature of association 100% OWNER OF REGAL FUNDS MANAGEMENT PTY LIMITED Name REGAL PARTNERS LIMITED Address LEVEL 47, GATEWAY, 1 MACQUARIE PLACE, SYDNEY NSW 2000 KennyHo REGAL FUNDS MANAGEMENT PTY LIMITED LEVEL 47, GATEWAY, 1 MACQUARIE PLACE, SYDNEY NSW 2000 25/09/2023	5. Changes in association 6. Addresses The addresses of persons named in this form are as follows: Signature print name capacity sign here date 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: CompanySecretary Name and ACN/ARSN (if applicable) REGAL PARTNERS LIMITED Nature of association 100% OWNER OF REGAL FUNDS MANAGEMENT PTY LIMITED Name REGAL PARTNERS LIMITED Address LEVEL 47, GATEWAY, 1 MACQUARIE PLACE, SYDNEY NSW 2000 KennyHo REGAL FUNDS MANAGEMENT PTY LIMITED LEVEL 47, GATEWAY, 1 MACQUARIE PLACE, SYDNEY NSW 2000 25/09/2023
Name		Address
REGAL FUNDS MANAGEMENT PTY LIMITED		LEVEL 47, GATEWAY, 1 MACQUARIE PLACE, SYDNEY NSW 2000
REGAL PARTNERS LIMITED		LEVEL 47, GATEWAY, 1 MACQUARIE PLACE, SYDNEY NSW 2000
Signature print name sign here
	date 25/09/2023

Annexure 1

Details of Substantial Holders

ACN	Name
107 576 821	REGAL FUNDS MANAGEMENT PTY LIMITED
129 188 450	REGAL PARTNERS LIMITED

Annexure 2

Changes in Relevant Interests

Date	Person whose relevant interest changed	Nature of Change	Consideration given in relation to change	Number of securities affected	Class of securities	Persons votes affected
30/06/2023	Regal Funds Management Pty Limited (and Regal Partners Limited by virtue of control of Regal Funds Management Pty Limited)	Buy	350972.05	638131	Ordinary	638131
4/09/2023	Regal Funds Management Pty Limited (and Regal Partners Limited by virtue of control of Regal Funds Management Pty Limited)	Buy	87171.84	189504	Ordinary	189504
4/09/2023	Regal Funds Management Pty Limited (and Regal Partners Limited by virtue of control of Regal Funds Management Pty Limited)	Buy	16674244.68	36248358	Ordinary	36248358
15/09/2023	Regal Funds Management Pty Limited (and Regal Partners Limited by virtue of control of Regal Funds Management Pty Limited)	Sell	600.62	1483	Ordinary	1483
21/09/2023	Regal Funds Management Pty Limited (and Regal Partners Limited by virtue of control of Regal Funds Management Pty Limited)	Buy	8666340.66	18839871	Ordinary	18839871

Changes in relevant interests [ADS]

27/06/2023	Regal Funds Management Pty Limited (and Regal Partners Limited by virtue of control of Regal Funds Management Pty Limited)	Buy	12009.27	4399	Ordinary	4399
29/08/2023	Regal Funds Management Pty Limited (and Regal Partners Limited by virtue of control of Regal Funds Management Pty Limited)	Sell	45002.67	18590	Ordinary	18590