Announcement Summary Entity name OPTHEA LIMITED Announcement Type New announcement Date of this announcement 21/6/2021 The Proposed issue is: A placement or other type of issue Total number of +securities proposed to be

Announcement Summary

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or

Proposed +issue date

for full details of the announcement

Part 1 - Entity and announcement details

entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B

of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX,

we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under

the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.4 The announcement is

1.5 Date of this announcement

A placement or other type of issue

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external

approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis?

Part 7B - Issue details

Details of +securities proposed to be issued

ASX +security code and description

OPT : ORDINARY FULLY PAID

Number of +securities proposed to be issued

Are the +securities proposed to be issued being issued for a cash consideration?

Please describe the consideration being provided for the +securities

ADS foregone as part of cashless exercise

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

+securities rank equally in all respects from their issue date with the existing issued +securities in that class?

7C.1 Proposed +issue date

Part 7D - Listing Rule

Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the

entity s 15% placement capacity under listing rule 7.1?

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the

entity s additional 10% placement capacity under listing rule 7.1A (if applicable)?

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow?

Part 7E - Fees and expenses

7E.1 Will there be a lead

manager or broker to the proposed issue?

7E.2 Is the proposed issue to be underwritten?

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the

Part 7F - Further Information

7F.01 The purpose(s) for

which the entity is issuing the securities

Exercise of pre-funded warrants

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds?

7F.2 Any other information the entity wishes to provide about the proposed issue

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue

will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of:

The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)