Rua Bioscience Limited — Share Issue/Capital Change 2023

Mar 15, 2023

Capital Change Notice

Section 1: Issuer information	Section 1: Issuer information
Name of issuer		Rua Bioscience Limited
NZX ticker code		RUA
Class of financial product		Options to subscribe forOrdinary Shares in the Issuer(Options)
ISIN (If unknown, check on NZX website)		NZRUAE0004S1
Currency		NZD
Section 2: Capital change details
Number issued	/acquired/redeemed	2,450,000
Nominal value	(if any)	Nil
Issue price per security		$0.00
Nature of the payment (for example, cash or otherconsideration)		Zero cash – provision ofemployment and personalservices to the Issuer
Amount paid up (if not in full)		N/A (as issued for no cashconsideration)
Percentage of total class of Financial Productsissued/acquired/redeemed/(calculated on the number ofFinancial Products of the Class, excluding any Treasury Stock,in existence)1		100% of this class of Options1.55% (2dp) of the totalnumber of Ordinary Shares onissue (undiluted)
For an issue of Convertible Financial Products or Options, theprincipal terms of Conversion (for example the Conversionprice and Conversion date and the ranking of the FinancialProduct in relation to other Classes of Financial Product) or theOption (for example, the exercise price and exercise date)		The Options will vest andconvert into Ordinary Shares inthe Issuer in a ratio of 1:1, forNIL cash consideration, on1 March 2026 subject toconditions set out in an OptionDeed dated February 2023
Reason for issue/acquisition/redemptionand specific authorityfor issue/acquisition/redemption/(the reason for change mustbe identified here)		Consideration for services andperformance incentive foremployees (part ofremuneration package)
Total number of Financial Products of the Class after theissue/acquisition/redemption/Conversion(excluding TreasuryStock) and the total number of Financial Products of the Classheld as Treasury Stock after the issue/acquisition/redemption.		Total number of Options of thisclass after the issue will be2,450,000
In the case of an acquisition of shares, whether those sharesare to be held as treasury stock		N/A

1 The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Specific authority for the issue, acquisition, or redemption,including a reference to the rule pursuant to which the issue,acquisition, or redemption is made	Specific authority for the issue, acquisition, or redemption,including a reference to the rule pursuant to which the issue,acquisition, or redemption is made	Listing rule 4.6.1. 4.11.1 and5.2.2(e)
Terms or details of the issue~~, acquisition, or redemption~~(forexample: restrictions, escrow arrangements)		Options vest and convert intoOrdinary Shares on 1 March2026 subject to conditions setout in an Option Deed datedFebruary 2023, specificallyrelating to good and bad leaverprovisions. Participant to payassociated tax liability.
Date of issue	/acquisition/redemption2	Grant date for the Options is1 March 2023Date for issue of the OrdinarySharesonconversionis1 March 2026
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement		Hamish White
Contact person for this announcement		Hamish White
Contact phone number		0210505795
Contact email address		Hamish.white@ruabio.com
Date of release through MAP		15/03/2023

2 Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).