Capital Change Notice – Issue of ordinary shares

24 April 2020 Issue of ordinary shares This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of ordinary shares in AFT Pharmaceuticals Limited under the AFT Pharmaceuticals Limited Long Term Incentive Plan. Section 1: Issuer information Name of issuer AFT Pharmaceuticals Limited NZX ticker code AFT Class of financial product Ordinary shares ISIN (If unknown, check on NZX website) NZAFTE0001S4 Currency NZD Section 2: Capital change details Number issued 119,000 Nominal value (if any) Not applicable Issue price per security $2.80 Nature of the payment Not applicable Amount paid up (if not in full) In full Percentage of total class of Financial Products issued (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence) 0.122% For an issue of Convertible Financial Products or Options, the principal terms of Conversion Not applicable Reason for issue and specific authority for issue 119,000 shares were issued to an employee exercising options under the AFT Pharmaceuticals Limited Long Term Incentive Plan Total number of Financial Products of the Class after the issue (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue. 97,428,019 Specific authority for the issue, including a reference to the rule pursuant to which the issue is made Directors' resolution, Listing Rule 4.6 Terms or details of the issue (for example: restrictions, escrow arrangements) The ordinary shares issued rank pari passu with the existing ordinary shares Date of issue 23 April 2020 Section 3: Authority for this announcement and contact person Name of person authorised to make this announcement Malcolm Tubby Contact person for this announcement Malcolm Tubby Contact phone number +64 9 488 0232 Contact email address malcolm@aftpharm.com Date of release through MAP 24 April 2020 End CA:00352114 For:AFT Type:SECISSUE Time:2020-04-24 08:30:09