Alterity Therapeutics Launches Security Purchase Plan (SPP) with Continued Support from Institutional Shareholders MELBOURNE, AUSTRALIA AND SAN FRANCISCO, USA - 11 January 2024: Alterity Therapeutics (ASX: ATH, NASDAQ: A

Alterity Therapeutics Launches

Security Purchase Plan (SPP) with Continued

Support from Institutional Shareholders

MELBOURNE, AUSTRALIA AND SAN FRANCISCO,

USA - 11 January 2024: Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) ("Alterity" or "the Company"),

a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases, today announced that in conjunction

with the launch of the Security Purchase Plan (SPP), the Company has received written commitments from institutional shareholders to purchase

any remaining shares that are not taken up by individual shareholders.

David Stamler, M.D., Chief Executive Officer

of Alterity, commented, "We are very happy to launch our SPP this week to offer equal and fair access to our existing, eligible

shareholders to purchase shares in Alterity at attractive pricing given our positive outlook for 2024. Our growing profile with institutional

shareholders has put us in a strong position that if we are unable to raise the full amount in the SPP, we have commitments for the shortfall

to enhance our balance sheet."

Full details on the SPP (including the

prospectus for the SPP dated 29 December 2023 and lodged with ASIC and released to ASX on that date) have been dispatched to shareholders

and can be found in our ASX filings on our website.

About Alterity Therapeutics Limited

Alterity Therapeutics is a clinical

stage biotechnology company dedicated to creating an alternate future for people living with neurodegenerative diseases. The Company's

lead asset, ATH434, has the potential to treat various Parkinsonian disorders and is currently being evaluated in two Phase 2 clinical

trials in Multiple System Atrophy. Alterity also has a broad drug discovery platform generating patentable chemical compounds to treat

the underlying pathology of neurological diseases. The Company is based in Melbourne, Australia, and San Francisco, California, USA. For

further information please visit the Company's web site at www.alteritytherapeutics.com.

Authorisation & Additional information

This announcement was authorized by David Stamler, CEO of Alterity

Therapeutics Limited.

Investor and Media Contacts:

Forward Looking Statements

This press release contains "forward-looking

statements" within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934.

The Company has tried to identify such forward-looking statements by use of such words as "expects," "intends," "hopes,"

"anticipates," "believes," "could," "may," "evidences" and "estimates," and

other similar expressions, but these words are not the exclusive means of identifying such statements.

Important factors that could cause actual results

to differ materially from those indicated by such forward-looking statements are described in the sections titled "Risk Factors"

in the Company's filings with the SEC, including its most recent Annual Report on Form 20-F as well as reports on Form 6-K, including,

but not limited to the following: statements relating to the Company's drug development program, including, but not limited to the initiation,

progress and outcomes of clinical trials of the Company's drug development program, including, but not limited to, ATH434, and any other

statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks

and uncertainties relating to the difficulties or delays in financing, development, testing, regulatory approval, production and marketing

of the Company's drug components, including, but not limited to, ATH434, the ability of the Company to procure additional future

sources of financing, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug compounds, including,

but not limited to, ATH434, that could slow or prevent products coming to market, the uncertainty of obtaining patent protection for

the Company's intellectual property or trade secrets, the uncertainty of successfully enforcing the Company's patent rights and

the uncertainty of the Company freedom to operate.

Any forward-looking statement

made by us in this press release is based only on information currently available to us and speaks only as of the date on which it

is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from

time to time, whether as a result of new information, future developments or otherwise.