SYNTARA LIMITED — Director's Dealing 2015

May 26, 2015

==> picture [152 x 42] intentionally omitted <==

27 May 2015

Stephanie So Senior Advisor, Listings ASX Compliance Pty Ltd 20 Bridge Street Sydney NSW 2000

Appendix 3Y

Dear Stephanie,

Enclosed with this letter is an Appendix 3Y with respect to the exercise of options under the Pharmaxis Employee Option Plan by the Company’s CEO, Mr Gary Philips.

Due to an administrative oversight the Company did not file an Appendix 3Y within the requisite period of time.

The Company is aware of its obligations and confirms it has adequate arrangements in place to ensure it is able to meet its disclosure obligations.

Yours faithfully

==> picture [129 x 62] intentionally omitted <==

Mr David McGarvey Chief Financial Officer/ Company Secretary

Pharmaxis Ltd ABN 75 082 811 630

20 Rodborough Road T 02 9454 7200 Frenchs Forest NSW 2086 F 02 9451 3622 Australia www.pharmaxis.com.au

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity PHARMAXIS LTD ABN 75 082 811 630

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director Gary Jonathan Phillips

Date of last notice 26 February 2015

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	18 May 2015
No. of securities held prior to change	Ordinary shares: 60,000
	Options over ordinary shares: 2,522,500
Class	Ordinary shares
Number acquired	1,030,000
Number disposed
Value/Consideration	Nil
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	Ordinary shares: 1,090,000
	Options over ordinary shares: 1,492,500

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Exercise of options under Pharmaxis Ltd Example: on-market trade, off-market trade, exercise of options, Employee Option Plan issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Part 2 – Change of director’s interests in contractsNote: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” shouldbe disclosed in this part.Detail of contractN/ANature of interest	Part 2 – Change of director’s interests in contractsNote: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” shouldbe disclosed in this part.Detail of contractN/ANature of interest	Part 2 – Change of director’s interests in contractsNote: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” shouldbe disclosed in this part.Detail of contractN/ANature of interest	Part 2 – Change of director’s interests in contractsNote: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” shouldbe disclosed in this part.Detail of contractN/ANature of interest	Part 2 – Change of director’s interests in contractsNote: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” shouldbe disclosed in this part.Detail of contractN/ANature of interest	Part 2 – Change of director’s interests in contractsNote: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” shouldbe disclosed in this part.Detail of contractN/ANature of interest
	Detail of contract			N/A
	Nature of interest
	Na(if		me of registered holderissued securities)
	Date of change
	No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
		ote: Details are only required for a contract inelation to which the interest has changed
	Interest acquired	nterest acquired
	Interest disposed
	a	Value/ConsiderationNote: If consideration is non-cash, provide detailsnd an estimated valuation
	Interest after change

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed N/A above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade N/A to proceed during this period? If prior written clearance was provided, on what date was this N/A provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011