ORTHOCELL LIMITED — Capital/Financing Update 2018

Dec 10, 2018

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Share Placement Successfully Raises $1.8m

• Orthocell successfully completes a A$1.8 million Placement

• Placement was oversubscribed with support from existing shareholders, senior management and new institutional and wholesale investors

• Funds raised to be used to drive sales of CelGro® into the EU and progress key regulatory approvals

Perth, Australia; 11 December 2018 : Regenerative medicine company Orthocell Limited (ASX:OCC, “Orthocell”, or the “Company”) is pleased to announce that it has successfully completed a A$1.8m oversubscribed placement (“Placement”) to professional and sophisticated investors across Australia and Asia, including existing shareholders.

The funds raised, in combination with cash reserves, will be used to accelerate market entry of CelGro® for dental bone and soft tissue repair into European markets; progress key regulatory approvals in the US and other target jurisdictions; and support continued business development and marketing initiatives.

Orthocell Managing Director Paul Anderson said: “The transaction illustrates the endorsement of Orthocell’s business strategy, progress in commercialising CelGro® in Europe and the exciting outlook. Orthocell is well placed to continue driving sales of CelGro® into key European markets, leveraging the CE-mark in the US regulatory approval process and introducing other key indications to market.”

The Placement will be achieved through the issue of approximately 10,592,008 shares at an offer price of A$0.17 per share, with 1-for-1 free attaching option (exercisable at A$0.25 expiring 31 December 2021). The offer price (excluding the option) represents a discount of 8.1% to the last close and a 11.7% discount to the 5-day volume weight average price (“VWAP”) of A$0.1926.

Shares issued under the Placement will be fully paid ordinary shares in the Company. The issue of shares and options will be undertaken in a single tranche with the shares being issued within the Company’s existing placement capacity under ASX Listing Rules 7.1A. The attaching options will be issued within the Company’s existing placement capacity under ASX Listing Rules 7.1. All Placement shares issued will rank equally with existing ordinary shares. The offer price of A$0.17 meets the requirement of ASX Listing Rules 7.1A.3, being greater than 75% of the 15-day VWAP. Settlement is expected to occur on Monday 17 December 2018.

As a result of this announcement, Orthocell will resume trading from the commencement of trading today. PAC Partners Securities Pty Ltd acted as the Lead Manager to the Placement.

Ph: +61 8 9360 2888 Fax: +61 8 9360 2899 www.orthocell.com.au

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For more information, please contact:

General enquiries

Investor enquiries

Paul Anderson Joel Seah Orthocell Limited Vesparum Capital Managing Director P: +61 8 9360 2888 P: +61 3 8582 4800 E: paulanderson@orthocell.com.au E: orthocell@vesparum.com

Media enquiries

Haley Chartres Hales[2 ] Communications P: +61 423 139 163

E: haley@h-squared.com.au

About Orthocell Limited

Orthocell is a regenerative medicine company focused on regenerating mobility for patients by developing products for the repair of a variety of soft tissue injuries. Orthocell’s portfolio of products include TGA-licensed cell therapies Autologous Tenocyte Implantation (Ortho-ATI®) and Autologous Chondrocyte Implantation (Ortho-ACI®), which aim to regenerate damaged tendon and cartilage tissue. The Company’s other major product is CelGro®, a collagen medical device which facilitates tissue repair and healing in a variety of orthopaedic, reconstructive and surgical applications. Orthocell recently received European regulatory approval (CE Mark) for CelGro®. The collagen medical device can now be marketed and sold within the European Union for a range of dental bone and soft tissue regeneration procedures and is being readied for market authorisation in the US.

For more information on Orthocell, please visit www.orthocell.com.au or follow us on Twitter @Orthocellltd and Linkedin www.linkedin.com/company/orthocell-ltd =

Ph: +61 8 9360 2888 Fax: +61 8 9360 2899 www.orthocell.com.au