ORTHOCELL LIMITED — Capital/Financing Update 2021

Feb 4, 2021

==> picture [594 x 145] intentionally omitted <==

CelGro® recommended for reimbursement

• CelGro® Dental recommended for inclusion on the Australian Prosthesis List

• Prosthesis list defines minimum amount of benefit to be paid by private insurers for CelGro® product used in approved dental bone and soft tissue repair procedures

• Progression towards inclusion on the Prosthesis List received ahead of expectations

• Positions Orthocell well on its pathway to secure a global distribution partner

Perth, Australia; 05 February 2021: Regenerative medicine company Orthocell Limited (ASX:OCC, “Orthocell” or the “Company”) is pleased to announce it has received notification from the Australian Government Department of Health, that the Prosthesis List Advisory Committee has recommended the Minister of Health ratify its inclusion on the Prosthesis List (“PL”).

Orthocell Managing Director Paul Anderson, said: “Inclusion on the prothesis list is an important step in gaining reimbursement from private insurers for Striate + (previously named CelGro® Dental). This is a significant milestone for our Company that is made possible by our recent Australian TGA approval and clinical data enabling progression towards reimbursement.”

Receiving a recommendation for inclusion on the Prosthesis List (PL) follows the Australian market approval for CelGro® collagen medical device, announced 23 December 2020, for introduction into the Australian dental bone and tissue regeneration market. Inclusion on the PL may be received by Q1 CY2021, ahead of the Company’s previously reported expectations.

CelGro® Dental (recently renamed Striate+), based on surgeon feedback, has distinct advantages over other similar products and may assist surgeons to deliver improved patient outcomes through superior handling characteristics, tissue integration qualities and improved bone healing. With US, EU and Australian market approval achieved and key opinion leaders (KOLs) actively engaging with the program, Orthocell is well positioned to secure a distribution partner and establish Striate+ as the best-in-class dental resorbable collagen membrane.

Release authorised by Paul Anderson Managing Director Orthocell Ltd.

For more information, please contact:

General & Investor enquiries Media enquiries Paul Anderson Haley Chartres Orthocell Limited H^CK Director Managing Director P: +61 8 9360 2888 P: +61 423 139 163 E: paul.anderson@orthocell.com.au E: haley@hck.digital

==> picture [43 x 28] intentionally omitted <==

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

==> picture [594 x 145] intentionally omitted <==

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 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 first approval in the US and AUS. The Company’s other major products are the TGA-licensed cell therapies Autologous Tenocyte Implantation (Ortho-ATI®) and Autologous Chondrocyte Implantation (Ortho-ACI®), which aim to regenerate damaged tendon and cartilage tissue. Orthocell is moving forward with clinical studies designed to assist in the US (FDA) approval process and has completed its pre-IND meetings with the FDA.

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

==> picture [43 x 28] intentionally omitted <==

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