Rua Bioscience Limited — Regulatory Filings 2021

Sep 30, 2021

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RUA BIOSCIENCE LTD 1 COMMERCE PLACE, GISBORNE 4071 NEW ZEALAND www.ruabio.com

30 September 2021

• To: NZX Limited and each person holding share options issued under the Rua Share Option Plan

Rua Share Option Plan – Notice of options exercise date under NZX Listing Rule 3.15.1(a)(ii)

1. In September 2019 and March 2020 Rua Bioscience Limited ( Company ) issued options to acquire ordinary shares in the Company ( Options ) to selected eligible employees of the Company under the Rua share option plan ( Share Option Plan ). The vesting of Options is conditional upon the satisfaction of:

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• specific vesting conditions centred on achieving non‐market performance milestones ( Specific Vesting Conditions ); and

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• general vesting conditions centred on the non‐occurrence of particular health and safety events and certain statutory and regulatory licenses being maintained up until the end of the vesting period on 30 September 2021 ( General Vesting Conditions ).

1. Participants in the Share Option Plan have been advised of the extent to which the Specific Vesting Conditions have been satisfied and how many of their Options will vest and be exerciseable from 1 October 2021, subject to the General Vesting Conditions continuing to be satisfied. As at the close of business today, it is apparent that the the General Vesting Conditions will be satisfied. Consequently, 241,050 Options will vest and become exercisable on and from 1 October 2021 ( Vested Options ). If all Vested Options are exercised, they will convert into 1,417,856 ordinary shares in the Company.

2. In accordance with the rules of the Share Option Plan, any exercise must be in respect of all of the Vested Options held by the Option holder. Option holders may exercise all of their Vested Options at any time during the period from 1 October 2021 to 1 January 2022. Vested Options that are not exercised by 1 January 2022 will lapse.

3. The decision of whether to exercise Vested Options is a matter solely for Option holders to determine. If Option holders have any queries or concerns regarding whether or not they should exercise their Vested Options, they should seek advice from a financial adviser. In addition, the Company recommends that Option holders refer to the separate advice that the Company has recently sent to them detailing the number of their Vested Options and how those Vested Options may be exercised.

Nga mihi,

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Hamish White Chief Financial Officer Rua Bioscience Limited