<SEC-DOCUMENT>0001193125-22-115103.txt : 20220422
<SEC-HEADER>0001193125-22-115103.hdr.sgml : 20220422
<ACCEPTANCE-DATETIME>20220422160653
ACCESSION NUMBER:		0001193125-22-115103
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20220422
FILED AS OF DATE:		20220422
DATE AS OF CHANGE:		20220422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KAZIA THERAPEUTICS LTD
		CENTRAL INDEX KEY:			0001075880
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29962
		FILM NUMBER:		22845518

	BUSINESS ADDRESS:	
		STREET 1:		THREE INTERNATIONAL TOWERS LEVEL 24,
		STREET 2:		300 BARANGAROO AVENUE
		CITY:			SYDNEY NSW
		STATE:			C3
		ZIP:			2000
		BUSINESS PHONE:		01161298780088

	MAIL ADDRESS:	
		STREET 1:		THREE INTERNATIONAL TOWERS LEVEL 24,
		STREET 2:		300 BARANGAROO AVENUE
		CITY:			SYDNEY NSW
		STATE:			C3
		ZIP:			2000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVOGEN LTD
		DATE OF NAME CHANGE:	19981228
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d336386d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>Form <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF
FOREIGN PRIVATE ISSUER </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO RULE <FONT STYLE="white-space:nowrap">13a-16</FONT> OR
<FONT STYLE="white-space:nowrap">15d-16</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of April, 2022 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number <FONT STYLE="white-space:nowrap">000-29962</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Kazia Therapeutics Limited </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of registrant&#146;s name into English) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Three
International Towers Level&nbsp;24 300 Barangaroo Avenue Sydney NSW 2000 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive office) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover of Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT
STYLE="white-space:nowrap">40-F.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form
20-F&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form <FONT STYLE="white-space:nowrap">40-F&nbsp;&nbsp;&#9744;</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1):&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT
STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7):&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION CONTAINED IN THIS FORM <FONT STYLE="white-space:nowrap">6-K</FONT> REPORT
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On April&nbsp;22, 2022, Kazia Therapeutics Limited (the &#147;Company&#148;) entered into an Equity Distribution Agreement (the
&#147;Agreement&#148;) with Oppenheimer&nbsp;&amp; Co. Inc. (&#147;Oppenheimer&#148;), as sales agent, under which the Company may offer and sell, from time to time through Oppenheimer, up to US$35,000,000 of American Depositary Shares
(&#147;ADSs&#148;), each ADS representing ten ordinary shares, no par value per share, of the Company (the &#147;Ordinary Shares&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the Agreement, the Company will set the parameters for the sale of ADSs, including the number of ADSs to be issued, the time period
during which sales are requested to be made, limitations on the number of ADSs that may be sold in any one trading day and any minimum price below which sales may not be made. Subject to the terms and conditions of the Agreement, Oppenheimer may
sell the ADSs by methods deemed to be an &#147;at the market offering&#148; as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made through The Nasdaq Capital Market, on any other existing trading market
for the ADSs, to or through a market maker, or, if expressly authorized by the Company, in privately negotiated transactions. The Company will pay Oppenheimer a commission equal to 3.0% of the gross proceeds of any ADSs sold through Oppenheimer
under the Agreement and has provided Oppenheimer with customary indemnification rights. The Agreement may be terminated by the Company upon ten days&#146; prior notice to Oppenheimer or by Oppenheimer upon ten days&#146; prior notice to the Company,
or at any time under certain circumstances, including but not limited to the occurrence of a material adverse change in the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any
sales of ADSs under the Agreement will be made pursuant to the Company&#146;s shelf registration statement on Form <FONT STYLE="white-space:nowrap">F-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-259224),</FONT> including the base
prospectus contained therein, filed with the Securities and Exchange Commission (the &#147;Commission&#148;) on September&nbsp;1, 2021 and declared effective by the Commission on September&nbsp;8, 2021. The Company filed a prospectus supplement with
the Commission on April&nbsp;22, 2022 in connection with the offer and sale of securities pursuant to the Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Report of
Foreign Private Issuer on Form <FONT STYLE="white-space:nowrap">6-K</FONT> shall not constitute an offer to sell or the solicitation of any offer to buy the securities discussed herein, nor shall there be any offer, solicitation or sale of the
securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Baker&nbsp;&amp; McKenzie, Australian counsel to the Company, has issued a legal opinion relating to the validity of the ADSs being offered
pursuant to the Agreement as well as the Ordinary Shares underlying the ADSs. A copy of such legal opinion, including the consent included therein, is filed as Exhibit 5.1 to this Report of Foreign Private Issuer on Form <FONT
STYLE="white-space:nowrap">6-K</FONT> and is incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of the material terms of the
Agreement is qualified in its entirety by reference to the full agreement, a copy of which is filed as Exhibit 1.1 to this Report of Foreign Private Issuer on Form <FONT STYLE="white-space:nowrap">6-K</FONT> and is incorporated herein by reference.
</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT LIST </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="93%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Exhibit</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d336386dex11.htm">Equity Distribution Agreement, dated as of April&nbsp;22, 2022, by and between the Company and Oppenheimer</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d336386dex51.htm">Opinion of Baker&nbsp;&amp; McKenzie, dated as of April&nbsp;22, 2022</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d336386dex51.htm">Consent of Baker&nbsp;&amp; McKenzie, dated as of April&nbsp;22, 2022 (included in Exhibit 5.1) </A></TD></TR>
</TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kazia Therapeutics Limited</B> (Registrant) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="100%"></TD></TR>


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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ James Stuart Garner</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">James Stuart Garner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Chief Executive Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: 22&nbsp;April 2022</TD></TR>
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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>d336386dex11.htm
<DESCRIPTION>EX-1.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.1</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>KAZIA THERAPEUTICS LIMITED </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>$35,000,000 </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMERICAN
DEPOSITARY SHARES REPRESENTING ORDINARY SHARES </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">April 22, 2022 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Oppenheimer&nbsp;&amp; Co. Inc.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">85 Broad Street, 26<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10004 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Kazia Therapeutics Limited ACN 063 259 754, an Australian public company limited by shares (the &#147;<B><U>Company</U></B>&#148;), confirms
its agreement (this &#147;<B><U>Agreement</U></B>&#148;) with Oppenheimer&nbsp;&amp; Co. Inc., as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Issuance and Sale of
ADSs</U>. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it may sell to or through Oppenheimer&nbsp;&amp; Co. Inc., acting as agent and/or principal (the
&#147;<B><U>Sales Agent</U></B>&#148;), American Depositary Shares (&#147;<B><U>ADSs</U></B>&#148;) (the &#147;<B><U>Placement ADSs</U></B>&#148;) to be issued pursuant to the Deposit Agreement, dated as of June&nbsp;6, 2016 (the &#147;<B><U>Deposit
Agreement</U></B>&#148;), by and among the Company, The Bank of New York Mellon, as depositary (the &#147;<B><U>Depositary</U></B>&#148;), and all holders and beneficial holders of the ADSs issued thereunder, each representing ten fully paid
ordinary shares, no par value per share, to be issued by the Company (the &#147;<B><U>Ordinary Shares</U></B>&#148;), having an aggregate offering price of up to $35,000,000 (the &#147;<B><U>Maximum Amount</U></B>&#148;), subject to the limitations
set forth in <U>Section</U><U></U><U>&nbsp;3(b)</U> hereof. The Company shall, following subscription by the Sales Agent of the ADSs, deposit, on behalf of the Sales Agent, the Ordinary Shares represented by such ADSs with HSBC Bank Australia
Limited, as custodian for the Depositary (the &#147;<B><U>Custodian</U></B>&#148;), whereupon the Depositary will deliver the ADSs to the Sales Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">References in this Agreement to the purchase of, or payment for, any ADSs, and similar or analogous expressions, shall be understood to refer
to the subscription for the Ordinary Shares underlying those ADSs, as well as deposit of the Ordinary Shares for ADSs representing such Ordinary Shares, and the payment of the subscription moneys in respect of such Ordinary Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The sale of ADSs representing Ordinary Shares to or through the Sales Agent will be effected pursuant to the Registration Statement (as
defined below) filed by the Company which has been declared effective by the U.S. Securities and Exchange Commission (the &#147;<B><U>Commission</U></B>&#148;), although nothing in this Agreement shall be construed as requiring the Company to use
the Registration Statement (as defined below) to sell the ADSs representing Ordinary Shares. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of the date of this Agreement, the Company has filed in accordance with the provisions of
the Securities Act of 1933, as amended, and the rules and regulations thereunder (collectively, the &#147;<B><U>Securities Act</U></B>&#148;), with the Commission, a registration statement on Form <FONT STYLE="white-space:nowrap">F-3</FONT> <FONT
STYLE="white-space:nowrap">(333-259224),</FONT> including a base prospectus, relating to certain securities, including the Ordinary Shares represented by the Placement ADSs, to be issued from time to<I> </I>time by the Company, and which
incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (collectively, the &#147;<B><U>Exchange
Act</U></B>&#148;). The Company has prepared a prospectus supplement specifically relating to the offer and sale of Placement ADSs pursuant to this Agreement (the &#147;<B><U>ATM Prospectus</U></B>&#148;).&nbsp;The Company will furnish to the Sales
Agent, for use by the Sales Agent, copies of the ATM Prospectus included as part of such registration statement, relating to the Placement ADSs. Except where the context otherwise requires, such registration statement, as amended, including all
documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under the Securities Act or
deemed to be a part of such registration statement pursuant to Rule 430A,&nbsp;430B, 430C or 462(b)&nbsp;of the Securities Act, is herein called the &#147;<B><U>Registration Statement.</U></B>&#148;&nbsp;The base prospectus, including all documents
incorporated therein by reference, and the ATM Prospectus, including all documents incorporated therein by reference, each of which is included in the Registration Statement, as it or they may be supplemented by any additional prospectus supplement,
in the form in which such prospectus and/or ATM Prospectus have most recently been filed by the Company with the Commission, is herein called the &#147;<B><U>Prospectus</U></B>.&#148; Any reference herein to the Registration Statement, the
Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item 6 of Form <FONT STYLE="white-space:nowrap">F-3</FONT> under the Securities Act, as of the
effective date of the Registration Statement or the date of the Prospectus, as the case may be, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or
the Prospectus shall be deemed to refer to and include any document filed after such date with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the
Prospectus or to any amendment or supplement thereto shall be deemed to include any copy filed with the Commission pursuant to the Electronic Data Gathering Analysis and Retrieval System or any successor thereto (collectively
&#147;<B><U>EDGAR</U></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Placements</U>. Each time that the Company wishes to sell the Placement ADSs through the Sales
Agent, as agent, hereunder (each, a &#147;<B><U>Placement</U></B>&#148;), it will notify the Sales Agent by email notice (or other method mutually agreed to in writing by the parties) (a &#147;<B><U>Placement Notice</U></B>&#148;) containing the
parameters in accordance with which it desires the Placement ADSs to be sold, which shall at a minimum include the number of Placement ADSs to be sold, the time period during which sales are requested to be made, any limitation on the number of
Placement ADSs that may be sold in any one Trading Day (as defined in <U>Section</U><U></U><U>&nbsp;3</U>) and any minimum price below which sales may not be made, a form of which containing such minimum sales parameters necessary is attached hereto
as <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;1</U></B>. The Placement Notice shall originate from any of the individuals from the Company set forth on <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;2</U></B> (with a copy to each of the other
individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from the Sales Agent set forth on <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;2</U></B>, as such
<B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;2</U></B> may be amended from time to time. The Placement Notice shall be effective upon receipt by the Sales Agent unless and until (i)&nbsp;in accordance with the notice requirements set forth in
<U>Section</U><U></U><U>&nbsp;4</U>, the Sales Agent declines to accept </P>
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the terms contained therein for any reason, in its sole discretion, (ii)&nbsp;the entire amount of the Placement ADSs have been sold, (iii)&nbsp;in accordance with the notice requirements set
forth in <U>Section</U><U></U><U>&nbsp;4</U>, the Company suspends or terminates the Placement Notice, (iv)&nbsp;the Company issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, or
(v)&nbsp;this Agreement has been terminated under the provisions of <U>Section</U><U></U><U>&nbsp;11</U>. The amount of any discount, commission or other compensation to be paid by the Company to the Sales Agent in connection with the sale of the
Placement ADSs through the Sales Agent, as agent, shall be as set forth in <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;3</U></B>. It is expressly acknowledged and agreed that neither the Company nor the Sales Agent will have any obligation
whatsoever with respect to a Placement or any Placement ADSs unless and until the Company delivers a Placement Notice to the Sales Agent and the Sales Agent does not decline such Placement Notice pursuant to the terms set forth above, and then only
upon the terms specified therein and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Sale of Placement ADSs by the Sales Agent</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Subject to the terms and conditions herein set forth, upon the Company&#146;s issuance of a Placement Notice, and unless the sale of the
Placement ADSs described therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, the Sales Agent, as agent for the Company, will use its commercially reasonable efforts consistent with its normal
trading and sales practices and applicable state and federal laws, rules and regulations and the rules of The Nasdaq Stock Market (the &#147;<B><U>Exchange</U></B>&#148;), for the period specified in the Placement Notice, to sell such Placement ADSs
up to the amount specified by the Company in, and otherwise in accordance with the terms of such Placement Notice. If acting as agent hereunder, the Sales Agent will provide written confirmation to the Company (including by email correspondence to
each of the individuals of the Company set forth on <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;2</U></B>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via
auto-reply) no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement ADSs hereunder setting forth the number of Placement ADSs sold on such day, the compensation
payable by the Company to the Sales Agent pursuant to <U>Section</U><U></U><U>&nbsp;2</U> with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Sales Agent (as
set forth in <U>Section</U><U></U><U>&nbsp;5(a)</U>) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice, the Sales Agent may sell Placement ADSs by any method permitted by law deemed to be an
&#147;at the market&#148; offering as defined in Rule&nbsp;415 under the Securities Act, including without limitation sales made directly on the Exchange, on any other existing trading market for the ADSs or to or through a market maker. If
expressly authorized by the Company in a Placement Notice, the Sales Agent may also sell Placement ADSs in privately negotiated transactions. Subject to <U>Section</U><U></U><U>&nbsp;3(c)</U> below, the Sales Agent shall not purchase Placement ADSs
for its own account as principal unless expressly authorized to do so by the Company in a Placement Notice. The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that the Sales Agent will be successful in selling Placement
ADSs, and (ii)&nbsp;the Sales Agent will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement ADSs for any reason other than a failure by the Sales Agent to use its commercially reasonable
efforts consistent with its normal trading and sales practices and applicable law and regulations to sell such Placement ADSs as required under this <U>Section</U><U></U><U>&nbsp;3</U>. For the purposes hereof, &#147;<B><U>Trading Day</U></B>&#148;
means any day on which the Company&#146;s ADSs are purchased and sold on the principal market on which the ADSs are listed or quoted. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Under no circumstances shall the Company cause or request the offer or sale of any
Placement ADSs if, after giving effect to the sale of such Placement ADSs, the aggregate number or gross sales proceeds of Placement ADSs sold pursuant to this Agreement would exceed the lesser of: (i)&nbsp;the number or dollar amount of ADSs
representing Ordinary Shares registered pursuant to the Registration Statement pursuant to which the offering hereunder is being made, (ii)&nbsp;the number of Ordinary Shares that can be issued without Company shareholder approval under the listing
rules of ASX Limited (&#147;<B><U>ASX Listing Rules</U></B>&#148;), (iii)&nbsp;the number or dollar amount of ADSs representing Ordinary Shares permitted to be offered and sold by the Company under Form <FONT STYLE="white-space:nowrap">F-3</FONT>
(including General Instruction I.B.5 of Form <FONT STYLE="white-space:nowrap">F-3,</FONT> if and for so long as applicable), (iv)&nbsp;the number or dollar amount of ADSs representing Ordinary Shares authorized from time to time to be issued and
sold under this Agreement by the Company&#146;s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Sales Agent in writing, or (v)&nbsp;the number or dollar amount of ADSs
representing Ordinary Shares for which the Company has filed the ATM Prospectus or other prospectus or prospectus supplement thereto specifically relating to the offering of the Placement ADSs pursuant to this Agreement. Under no circumstances shall
the Company cause or request the offer or sale of any Placement ADSs pursuant to this Agreement at a price lower than the minimum price authorized from time to time by the Company&#146;s board of directors, a duly authorized committee thereof or a
duly authorized executive committee, and notified to the Sales Agent in writing. Notwithstanding anything to the contrary contained herein, the parties hereto acknowledge and agree that compliance with the limitations set forth in this
<U>Section</U><U></U><U>&nbsp;3(b)</U> on the number or dollar amount of Placement ADSs that may be issued and sold under this Agreement from time to time shall be the sole responsibility of the Company, and that the Sales Agent shall have no
obligation in connection with such compliance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Company acknowledges and agrees that the Sales Agent has informed the Company that
the Sales Agent may, to the extent permitted under the Securities Act and the Exchange Act (including, without limitation, Regulation M promulgated thereunder), purchase and sell ADSs representing Ordinary Shares for its own account while this
Agreement is in effect, and shall be under no obligation to purchase Placement ADSs on a principal basis pursuant to this Agreement, except as otherwise agreed by the Sales Agent in a Placement Notice; <I>provided</I>, that no such purchase or sales
shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by the Company and the Sales Agent in the Placement Notice or (ii)&nbsp;to the extent the Sales Agent may engage in sales of Placement ADSs purchased or deemed
purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity); and, <I>provided, further</I>, that the Sales Agent acknowledges and agrees that, except as expressly set forth in a Placement Notice, any such transactions
are not being, and shall not be deemed to have been, undertaken at the request or direction of, or for the account of, the Company, and that the Company has and shall have no control over any decision by the Sales Agent to enter into any such
transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) During the term of this Agreement and notwithstanding anything to the contrary herein, the Sales Agent agrees that in
no event will the Sales Agent or its affiliates engage in any market making, bidding, stabilization or other trading activity with regard to the ADSs, Ordinary Shares or related derivative securities if such activity would be prohibited under
Regulation M or other anti-manipulation rules under the Exchange Act. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Sales Agent represents and warrants that it is duly registered with the Commission
as a broker dealer under the Exchange Act and under the applicable statutes and regulations of each state in which the Placement ADSs will be offered and sold, except such states in which the Sales Agent is exempt from registration or such
registration is not otherwise required in connection with the offer and sale of the Placement ADSs, and that it is a member in good standing with the Financial Industry Regulatory Authority, Inc. (&#147;<B>FINRA</B>&#148;). The Sales Agent shall
continue, for the term of this Agreement, to be duly registered as a broker-dealer under the Exchange Act and the applicable statutes and regulations of each state in which the Placement ADSs will be offered and sold, except such states in which it
is exempt from registration or such registration is not otherwise required in connection with the offer and sale of the Placement ADSs, and to be a member in good standing with FINRA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Suspension of Sales</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Company or the Sales Agent may, upon notice to the other party in writing (including by email correspondence to each of the
individuals of the other party set forth on <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;2</U></B>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by
telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;2</U></B>), suspend any offer and sale of
Placement ADSs for a period of time (a &#147;<B><U>Suspension Period</U></B>&#148;); <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s obligations with respect to any Placement ADSs sold hereunder
prior to the receipt of such notice. While a Suspension Period is in effect, any obligation under Sections 7(o), 7(m) and 7(n) with respect to the delivery of certificates, opinions or comfort letters to the Sales Agent, shall be waived. Each of the
parties agrees that no such notice under this <U>Section</U><U></U><U>&nbsp;4</U> shall be effective against the other party unless it is made to one of the individuals named on <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;2</U></B> hereto, as
such schedule may be amended from time to time. During a Suspension Period, the Company shall not issue any Placement Notices and the Sales Agent shall not offer or sell any Placement ADSs hereunder. The party that issued a suspension notice shall
notify the other party in writing of the Trading Day on which the Suspension Period shall expire not later than twenty-four (24)&nbsp;hours prior to such Trading Day. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding any other provision of this Agreement, during any period in which the Company is in possession of material <FONT
STYLE="white-space:nowrap">non-public</FONT> information, the Company and the Sales Agent agree that (i)&nbsp;no sale of Placement ADSs will take place, (ii)&nbsp;the Company shall not request the sale of any Placement ADSs, and (iii)&nbsp;the Sales
Agent shall not be obligated to sell or offer to sell any Placement ADSs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Settlement of Placement ADSs</U>. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement ADSs
will occur on the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for <FONT STYLE="white-space:nowrap">regular-way</FONT> trading) following the respective Point of Sale (as
defined below) (each, a &#147;<B><U>Settlement Date</U></B>&#148;). The amount of proceeds to be </P>
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delivered to the Company on a Settlement Date against receipt of the Placement ADSs sold (the &#147;<B><U>Net Proceeds</U></B>&#148;) will be equal to the aggregate sales price received by the
Sales Agent at which such Placement ADSs were sold, after deduction for (i)&nbsp;the Sales Agent&#146;s discount, commission or other compensation for such sales payable by the Company pursuant to <U>Section</U><U></U><U>&nbsp;2</U> hereof,
(ii)&nbsp;any other amounts due and payable by the Company to the Sales Agent hereunder pursuant to <U>Section</U><U></U><U>&nbsp;7(g)</U> (Expenses) hereof and (iii)&nbsp;any transaction fees imposed by any governmental or self-regulatory
organization in respect of such sales. &#147;<B><U>Point of Sale</U></B>&#148; means, for a Placement, the time at which an acquiror of Placement ADSs entered into a contract, binding upon such acquiror, to acquire such Placement ADSs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Delivery of Placement ADSs</U>. On or before each Settlement Date and against payment of the purchase price for the relevant Placement
ADSs, the Company will, or will cause its transfer agent to, issue and deposit with the Depositary the amount of Ordinary Shares to be represented by the Placement ADSs and instruct the Depositary to electronically transfer the Placement ADSs being
sold by crediting the Sales Agent&#146;s or its designee&#146;s account (provided the Sales Agent shall have given the Company written notice of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and
Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered ADSs in good deliverable form. On each Settlement Date, the
Sales Agent will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Placement ADSs are not delivered to the Sales Agent&#146;s account on a
Settlement Date, in addition to and in no way limiting the rights and obligations set forth in <U>Section</U><U></U><U>&nbsp;9(a)</U> (Indemnification and Contribution) hereto, the Company will (i)&nbsp;hold the Sales Agent, its directors, officers,
members, partners, employees and agents of the Sales Agent, each broker dealer affiliate of the Sales Agent, and each person, if any, who (A)&nbsp;controls the Sales Agent within the meaning of Section&nbsp;15 of the Securities Act or
Section&nbsp;20 of the Exchange Act or (B)&nbsp;is controlled by or is under common control with the Sales Agent (each, a &#147;<B><U>Sales Agent Affiliate</U></B>&#148;), harmless against any loss, claim, damage, or reasonable and documented
expense (including reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such <FONT STYLE="white-space:nowrap">non-delivery</FONT> and (ii)&nbsp;pay to the Sales Agent any commission, discount, or
other compensation to which it would otherwise have been entitled absent such <FONT STYLE="white-space:nowrap">non-delivery.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.
<U>Representations and Warranties of the Company</U>. The Company, on behalf of itself and its subsidiaries, represents and warrants to, and agrees with, the Sales Agent that as of each Applicable Time (as defined in
<U>Section</U><U></U><U>&nbsp;22(a)</U>): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Compliance with Registration Requirements</U>. As of each Applicable Time other than the
date of this Agreement, the Registration Statement and any Rule&nbsp;462(b)&nbsp;Registration Statement have been declared effective by the Commission under the Securities Act.&nbsp;The Company has complied to the Commission&#146;s satisfaction with
all requests of the Commission for additional or supplemental information related to the Registration Statement and the Prospectus.&nbsp;No stop order suspending the effectiveness of the Registration Statement or any
Rule&nbsp;462(b)&nbsp;Registration Statement is in effect and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated or threatened by the Commission.&nbsp;The Registration Statement
and the offer and sale of the Placement ADSs as contemplated hereby meet the requirements of Rule&nbsp;415 under the Securities Act and comply in </P>
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all material respects with said Rule. In the section entitled &#147;Plan of Distribution&#148; in the ATM Prospectus, the Company has named Oppenheimer&nbsp;&amp; Co., Inc. as an agent that the
Company has engaged in connection with the transactions contemplated by this Agreement. The Company was not and is not an &#147;ineligible issuer&#148; as defined in Rule&nbsp;405 under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>ADS Registration Statement</U>. A registration statement on Form <FONT STYLE="white-space:nowrap">F-6</FONT> (File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-128681)</FONT> in respect of the ADSs has been filed with the Commission; such registration statement has been declared effective by the Commission in such form; no other document with respect to such
registration statement has been filed with the Commission; no stop order suspending the effectiveness of such registration statement has been issued and no proceeding for that purpose has been initiated or threatened by the Commission (the various
parts of such registration statement, including all exhibits thereto, each as amended at the time such part of the registration statement became effective, being hereinafter called the &#147;<B><U>ADS Registration Statement</U></B>&#148;); and the
ADS Registration Statement when it became effective conformed, and any further amendments thereto will confirm, in all material respects to the requirements of the Securities Act and the rules and regulations of the Commission thereunder, and did
not, as of the applicable effective date, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>No Misstatement or Omission</U>. As of (i)&nbsp;the time of filing of the Registration Statement and (ii)&nbsp;as of the date of this
Agreement, the Company was not an &#147;ineligible issuer&#148; in connection with the offering of the Placement ADSs pursuant to Rules&nbsp;164, 405 and 433 under the Securities Act.&nbsp;The Company agrees to notify the Sales Agent promptly upon
the Company becoming an &#147;ineligible issuer.&#148; The Prospectus when filed will comply or complied and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act.&nbsp;Each of the Registration
Statement, any Rule&nbsp;462(b)&nbsp;Registration Statement and any post-effective amendment thereto, at the time it becomes effective, and as of each Applicable Time, if any, will comply in all material respects with the Securities Act and did not
and, as of each Applicable Time, if any, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus, as amended
or supplemented, as of its date, did not and, as of each Applicable Time, if any, will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading. The representations and warranties set forth in the two immediately preceding sentences do not apply to statements in or omissions from the Registration Statement, any
Rule&nbsp;462(b)&nbsp;Registration Statement, or any post-effective amendment thereto, or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with information furnished to the Company in writing by the
Sale Agent expressly for use therein.&nbsp;The parties hereto agree that the information provided in writing by or on behalf of the Sales Agent expressly for use in the Registration Statement, any Rule&nbsp;462(b)&nbsp;Registration Statement, or any
post-effective amendment thereto, or the Prospectus, or any amendments or supplements thereto, consists solely of the material referred to in <B><U>Schedule 5</U></B> hereto, as updated from time to time. There are no contracts or other documents
required to be described in the Prospectus or to be filed as exhibits to the Registration Statement which have not been described or filed as required. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U><FONT STYLE="white-space:nowrap">F-3</FONT> Eligibility</U>. At the time the
Registration Statement and any Rule&nbsp;462(b)&nbsp;Registration Statement was or will be filed with the Commission, at the time the Registration Statement and any Rule&nbsp;462(b)&nbsp;Registration Statement was or will be declared effective by
the Commission, and at the time the Company&#146;s most recent annual report on Form <FONT STYLE="white-space:nowrap">20-F</FONT> was filed with the Commission, the Company met or will meet the then applicable requirements for the use of Form <FONT
STYLE="white-space:nowrap">F-3</FONT> under the Securities Act, including, but not limited to, General Instruction I.B.5 of Form <FONT STYLE="white-space:nowrap">F-3,</FONT> if and for so long as applicable. The Company is not a shell company (as
defined in Rule 405 under the Securities Act) and has not been a shell company for at least 12 calendar months previously and if it has been a shell company at any time previously, has filed current Form 10 information (as defined in General
Instruction I.B.5. of Form <FONT STYLE="white-space:nowrap">F-3)</FONT> with the Commission at least 12 calendar months previously reflecting its status as an entity that is not a shell company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Distribution of Offering Material by the Company</U>. The Company has not distributed and will not distribute, prior to the completion
of the Sales Agent&#146;s distribution of the Placement ADSs, any offering material in connection with the offering and sale of the Placement ADSs other than the Prospectus or the Registration Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>The Equity Distribution Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company, and constitutes
a valid, legal, and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as rights to indemnity hereunder may be limited by federal or state securities laws and except as such enforceability may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally, and subject to general principles of equity. The Company has full corporate power and authority to enter into this Agreement
and to authorize, issue and sell the Placement ADSs as contemplated by this Agreement. This Agreement conforms in all material respects to the descriptions thereof in the Registration Statement and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Authorization of Deposit Agreement</U>. The Deposit Agreement has been duly authorized, executed and delivered by the Company and
constitutes a valid and legally binding agreement of the Company, enforceable in accordance with its terms, subject, as to enforceability, bankruptcy, insolvency, reorganization and similar laws of general applicability relating to or affecting
creditors&#146; rights and to general equity principles, and upon the deposit of Ordinary Shares in respect of the Placement ADSs in accordance with the provisions of the Deposit Agreement, the Placement ADSs, when issued, will be validly issued and
fully paid, and upon issuance by the Depositary of the Placement ADSs, such ADSs will be duly and validly issued and the persons in whose names the ADSs are registered will be entitled to the rights specified therein and in the Deposit Agreement;
and the Deposit Agreement and the Placement ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement and the Prospectus; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <U>Authorization of the Placement ADSs</U>. The Ordinary Shares to be issued underlying the Placement ADSs to be sold by the Sales Agent,
acting as agent and/or principal for the Company, have been duly authorized and when issued and paid for as contemplated herein will be validly issued, fully paid and <FONT STYLE="white-space:nowrap">non-assessable.</FONT> The issuance of the
Ordinary Shares underlying the Placement ADSs is not, subject to compliance by the Company with Listing Rules 7.1 and 7.1A of the ASX Listing Rules, subject to the preemptive or other similar rights of any shareholder of the Company. The Ordinary
Shares may be freely deposited by the Company with the Custodian </P>
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(or its nominee) against issuance of the Placement ADSs, and the Placement ADSs, when issued and delivered against payment therefor, will be freely transferable by or on behalf of the Company to
or for the account of Sales Agent and the initial purchasers thereof. There are, subject to compliance by the Company with section 708A(5) of the Australian Corporations Act 2001 (Cth) (&#147;<B><U>Corporations Act</U></B>&#148;) or following the
lodgment of a prospectus pursuant to section 713 of the Corporations Act in connection with the issue of the Ordinary Shares, no restrictions on subsequent transfers of the Placement ADSs or the Ordinary Shares, except as described in the
Prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>No Applicable Registration or Other Similar Rights</U>. There are no persons with registration or other similar rights
to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights as have been duly waived. No person has the right to act as an underwriter
or as a financial advisor to the Company in connection with the offer and sale of the Placement ADSs hereunder, whether as a result of the filing or effectiveness of the Registration Statement or the sale of the Placement ADSs as contemplated hereby
or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <U>No Material Adverse Change</U>. Except as otherwise disclosed in the Prospectus, subsequent to the respective dates
as of which information is given in the Prospectus: (i)&nbsp;there has been no material adverse change in the condition (financial or otherwise), assets, rights, operations, business, management or prospects of the Company and its subsidiaries,
considered as one entity (any such change is called a &#147;<B><U>Material Adverse Change</U></B>&#148;) or any development involving a prospective material adverse change, which, individually or in the aggregate, has had or would reasonably be
expected to result in a Material Adverse Change; (ii)&nbsp;the Company and its subsidiaries, considered as one entity, have not incurred any material liability or obligation, indirect, direct or contingent, not in the ordinary course of business nor
entered into any material transaction or agreement not in the ordinary course of business; and (iii)&nbsp;there has been no dividend or distribution of any kind declared, paid or made by the Company or, except for regular quarterly dividends
publicly announced by the Company or dividends paid to the Company or other subsidiaries, by any of its subsidiaries on any class of capital stock or repurchase or redemption by the Company or any of its subsidiaries of any class of capital stock.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <U>Independent Accountants</U>. Grant Thornton Audit Pty Ltd, who have certified certain financial statements of the Company, whose
report with respect to the financial statements (which term as used in this Agreement includes the related notes thereto) and any supporting schedules filed with the Commission or incorporated by reference in the Registration Statement and included
or incorporated by reference in the Prospectus, are independent public accountants as required by the Securities Act and the rules&nbsp;and regulations thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <U>Preparation of the Financial Statements</U>. The consolidated financial statements of the Company, together with related notes and
schedules as incorporated by reference in the Registration Statement and the Prospectus, present fairly in all material respects the financial position and the results of operations and cash flows of the Company, at the indicated dates and for the
indicated periods (subject in the case of unaudited statements, to normal <FONT STYLE="white-space:nowrap">year-end</FONT> audit adjustments). Such financial statements and related schedules have been prepared in accordance with International
Financing Reporting Standards as issued by the International Accounting Standards Board, as in effect at the time of filing, consistently applied throughout the periods involved, except as disclosed therein, and all adjustments necessary for a fair
presentation of </P>
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results for such periods have been made (subject (i)&nbsp;to such adjustments to accounting standards and practices as are noted therein, and (ii)&nbsp;in the case of unaudited interim
statements, to (A)&nbsp;standard recurring adjustments, (B)&nbsp;the exclusion of financial statement footnotes, and (C)&nbsp;the information being presented in a condensed or summary manner. The summary financial and statistical data included or
incorporated by reference in the Registration Statement and the Prospectus present fairly in all material respects the information shown therein and such data has been compiled on a basis consistent with the financial statements presented therein
and the books and records of the Company. The statistical, industry-related and market-related data included or incorporated by reference in the Registration Statement and the Prospectus are based on or derived from sources which the Company
reasonably and in good faith believes are reliable and accurate, and the Company has obtained the written consent to the use of such data from such sources to the extent required. The other financial data set forth or incorporated by reference in
the Registration Statement and the Prospectus is accurately presented in all material respects and prepared on a basis consistent with the financial statements and books and records of the Company. The Company and its subsidiaries do not have any
material liabilities or obligations, direct or contingent (including any <FONT STYLE="white-space:nowrap">off-balance</FONT> sheet obligations or any &#147;variable interest entities&#148; as that term is used in Accounting Standards Codification
Paragraph <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">810-10-25-20),</FONT></FONT></FONT> not disclosed in the Registration Statement and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <U>XBRL</U>. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration
Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <U>Organization and Good Standing of the Company and its Subsidiaries</U>. The Company is duly organized and validly existing under the
laws of Australia and is in good standing under such laws (to the extent such concept exists). The Company has requisite corporate power to carry on its business as described in the Prospectus. The Company is duly qualified to transact business and
is in good standing (where such concept exists) in all jurisdictions in which the conduct of its business requires such qualification; except where the failure to be so qualified or to be in good standing would not result in a Material Adverse
Change. The Company does not own or control, directly or indirectly, any corporation, association or other entity other than the subsidiaries listed on <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;4</U></B>. Each subsidiary is a corporation,
public company limited by shares or limited liability company duly formed and validly existing under the laws of the jurisdiction of its formation and is in good standing under such laws. Each of the subsidiaries has requisite corporate power to
carry on its business as described in the Prospectus. Each of the subsidiaries is duly qualified to transact business and is in good standing (where such concept exists) in all jurisdictions in which the conduct of its business requires such
qualification; except where the failure to be so qualified or to be in good standing would not result in a Material Adverse Change. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o)
<U>Capital Stock Matters</U>. The ADSs and Ordinary Shares conform in all material respects to the descriptions thereof contained in the Prospectus. The forms of certificates for the ADSs and Ordinary Shares conform to the corporate law of the
jurisdiction of the Company&#146;s incorporation. All of the issued and outstanding ADSs and Ordinary Shares have been duly authorized and validly issued, are fully paid and nonassessable and have been issued in compliance with applicable federal
and state securities laws. None of the outstanding ADSs or Ordinary Shares </P>
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were issued in violation of any preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase securities of the Company. There are no authorized or outstanding
options, warrants, preemptive rights, rights of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable for, any capital stock of the Company or any of its subsidiaries other than those
disclosed in the Prospectus or in a document filed as an exhibit to or incorporated by reference into the Registration Statement. All of the issued and outstanding capital stock of, or other ownership interests in, each subsidiary of the Company has
been duly authorized and validly issued, is fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and, except for directors&#146; qualifying shares, is owned by the Company, directly or through subsidiaries, free and clear of any
security interest, mortgage, pledge, lien, encumbrance or claim. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <U><FONT STYLE="white-space:nowrap">Non-Contravention</FONT> of
Existing Instruments; No Further Authorizations or Approvals Required</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in breach or violation of its certificate or articles of incorporation, constitution, charter, bylaws, limited
liability company agreement, certificate or agreement of limited or general partnership, memorandum and articles of association, or other similar organizational documents, as the case may be, of such entity, (ii)&nbsp;in breach of or in default (or,
with the giving of notice or lapse of time or both, would be in default) (&#147;<B><U>Default</U></B>&#148;) under any indenture, mortgage, loan or credit agreement, deed of trust, note, contract, franchise, lease or other agreement, obligation,
condition, covenant or instrument to which the Company or any of its subsidiaries is a party or by which it or any of them may be bound or to which any of the property or assets of the Company or any of its subsidiaries is subject (each, an
&#147;<B><U>Existing Instrument</U></B>&#148;), or (iii)&nbsp;in violation of any statute, law, rule, regulation, judgment, order or decree of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having
jurisdiction over the Company or any of its subsidiaries or any of their properties, as applicable, except, with respect to clauses&nbsp;(ii) and (iii)&nbsp;only, for such breaches, violations or Defaults that would not, individually or in the
aggregate, result in a Material Adverse Change. The Company&#146;s execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby or by the Registration Statement and the Prospectus (including the
issuance and sale of the Placement ADSs and the use of the proceeds from the sale of the Placement ADSs as described in the Prospectus under the caption &#147;Use of Proceeds&#148;) (i)&nbsp;will not result in any breach or violation of the
certificate or articles of incorporation, constitution, charter, bylaws, limited liability company agreement, certificate or agreement of limited or general partnership, memorandum and articles of association, or other similar organizational
documents, as the case may be, of the Company or any of its subsidiaries, (ii)&nbsp;will not conflict with or constitute a breach of, or Default or a Debt Repayment Triggering Event (as defined below) under, or result in the creation or imposition
of any lien, charge, claim or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, or require the consent of any other party to, any Existing Instrument, and (iii)&nbsp;will not result in any violation of
any statute, law, rule, regulation, judgment, order or decree applicable to the Company or any of its subsidiaries of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the
Company or any of its subsidiaries or any of its or their properties, as applicable, except, with respect to clauses&nbsp;(ii) and (iii)&nbsp;only, for such conflicts, breaches, Defaults, Debt Repayment Triggering Events or violations that would
not, individually or in the aggregate, result in a Material Adverse Change. As used herein, a &#147;<B><U>Debt Repayment Triggering Event</U></B>&#148; means any event or condition which gives, or with the giving of notice or lapse of time or both
would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder&#146;s behalf), issued by the Company, the right to </P>
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require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its Significant Subsidiaries (as defined by Rule
<FONT STYLE="white-space:nowrap">1-02(w)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> of the Commission). Each approval, consent, order, authorization, designation, declaration or filing by or with any regulatory, administrative
or other governmental body necessary in connection with the execution and delivery by the Company of this Agreement and the performance of the Company of the transactions herein contemplated has been obtained or made and is in full force and effect,
except (i)&nbsp;such additional steps as may be required by the bylaws and rules of FINRA or (ii)&nbsp;such additional steps as may be necessary to qualify the Placement ADSs for sale by the Sales Agent under state securities or Blue Sky laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <U>No Material Actions or Proceedings; Labor Disputes</U>. There is no action, suit, claim or proceeding pending or, to the knowledge of
the Company, threatened against the Company before any court or administrative agency or otherwise (i)&nbsp;that is required to be described in the Registration Statement or the Prospectus and are not so described or (ii)&nbsp;which, if determined
adversely to the Company, would reasonably be expected to result in a Material Adverse Change or prevent the consummation of the transactions contemplated hereby, except as set forth in the Registration Statement and the Prospectus. The aggregate of
all pending legal or governmental proceedings to which the Company and its subsidiaries is a party or of which any of their property or assets is the subject which are not described in the Prospectus, including ordinary routine litigation incidental
to the business, could not reasonably be expected to result in a Material Adverse Change. No labor dispute with the employees of the Company exists or, to the Company&#146;s knowledge, is threatened or imminent, and the Company is not aware of any
existing or imminent labor dispute by the employees of any of its principal suppliers, contractors or customers, that would, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change. None of the employees of
the Company or any of its subsidiaries is represented by a union and, to the knowledge of the Company, no union organizing activities are taking place. Neither the Company nor any of its subsidiaries has violated any federal, state or local law or
foreign law relating to the discrimination in hiring, promotion or pay of employees, nor any applicable wage or hour laws, or the rules and regulations thereunder, or analogous foreign laws and regulations, which might, individually or in the
aggregate, result in a Material Adverse Change. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <U>All Necessary Permits, etc</U>. Each of the Company and its subsidiaries has all
material licenses, certifications, permits, franchises, approvals, clearances and other regulatory authorizations (&#147;<B><U>Permits</U></B>&#148;) from governmental authorities as are necessary to (i)&nbsp;conduct its businesses as currently
conducted and (ii)&nbsp;own, lease and operate its properties in the manner described in the Prospectus. There is no claim or proceeding pending or, to the knowledge of the Company, threatened in writing, involving the status of or sanctions under
any of the Permits. Each of the Company and its subsidiaries has fulfilled and performed all of its material obligations with respect to the Permits, and the Company is not aware of the occurrence of any event which allows, or after notice or lapse
of time would allow, the revocation, termination, or other impairment of the rights of the Company or any of its subsidiaries under such Permit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <U>Tax Law Compliance</U>. All United States federal income tax returns of the Company and its subsidiaries required by law to be filed
have been filed or extensions thereof have been requested, and all taxes shown by such returns or otherwise assessed, which are due and payable, have been paid, except assessments that are being contested in good faith and as to which adequate
</P>
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reserves have been provided and except for such taxes or assessments the nonpayment of which would not, individually or in the aggregate, result in a Material Adverse Change. Each of the Company
and its subsidiaries has filed all other tax returns that are required to have been filed by it pursuant to applicable foreign, state, provincial, local or other law except insofar as the failure to file such returns would not result in a Material
Adverse Change, and has paid all taxes due pursuant to such returns or pursuant to any assessment received by the Company and its subsidiaries, except for such taxes, if any, as are being contested in good faith and as to which adequate reserves
have been provided and except for such taxes or assessments the nonpayment of which would not, individually or in the aggregate, result in a Material Adverse Change. The charges, accruals and reserves on the books of the Company and its subsidiaries
in respect of any income and corporation tax liability for any years not finally determined are adequate to meet any assessments or <FONT STYLE="white-space:nowrap">re-assessments</FONT> for additional tax for any years not finally determined,
except to the extent of any inadequacy that would not result in a Material Adverse Change. All material taxes which the Company and its subsidiaries are required by law to withhold or to collect for payment have been duly withheld and collected and
have been paid to the appropriate governmental authority or agency or have been accrued, reserved against and entered on the books of the Company and its subsidiaries. There are no transfer taxes or other similar fees or charges under Federal law or
the laws of any state, or any political subdivision thereof, required to be paid in connection with the execution and delivery of this Agreement or the issuance by the Company or sale by the Sales Agent of the Placement ADSs, acting as agent and/or
principal for the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <U>Company Not an &#147;Investment Company</U>&#148;. The Company has been advised of the rules and
requirements under the Investment Company Act of 1940, as amended (the &#147;<B><U>Investment Company Act</U></B>&#148;). The Company is not, and after receipt of payment for the Placement ADSs will not be, an &#147;investment company&#148; within
the meaning of Investment Company Act and will conduct its business in a manner so that it will not become subject to the Investment Company Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <U>Insurance</U>. Except as otherwise described in the Prospectus, the Company carries, or is covered by, insurance in such amounts and
covering such risks as is generally considered adequate for the conduct of its business and the value of its properties and as is customary for companies engaged in similar industries. All policies of insurance insuring the Company or its business,
assets, employees, officers and directors are in full force and effect, and the Company is in compliance with the terms of such policies in all material respects. There are no claims by the Company under any such policy or instrument as to which an
insurance company is denying liability or defending under a reservation of rights clause, except as would not result in a Material Adverse Change. The Company has no reason to believe that it will not be able (i)&nbsp;to renew its existing insurance
coverage as and when such policies expire or (ii)&nbsp;to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not result in a Material Adverse
Change. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>No Price Stabilization or Manipulation</U>. Neither the Company, nor any of its subsidiaries, nor any of its or their
respective directors, officers or, to the knowledge of the Company, controlling persons has taken, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in the stabilization or manipulation of the
price of any security of the Company to facilitate the sale or resale of the Placement ADSs. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <U>Related Party Transactions</U>. There are no business relationships or related-party
transactions involving the Company or any subsidiary or any other person required to be described in the Prospectus which have not been described as required. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <U>Exchange Act Compliance</U>. The documents incorporated or deemed to be incorporated by reference in the Registration Statement, the
Prospectus or any amendment or supplement thereto, at the time they were or hereafter are filed with the Commission under the Exchange Act, complied and will comply in all material respects with the requirements of the Exchange Act, and, when read
together with the other information in the Prospectus, at each Point of Sale and each Settlement Date, will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <U>Free Writing Prospectuses</U>. The Company represents and warrants to the Sales Agent that neither it nor any of its agents or
representatives (other than the Sales Agent in its capacity as such) has made any offer relating to the Placement ADSs that would constitute a &#147;free writing prospectus&#148; as defined in Rule&nbsp;405 under the Securities Act and that it
agrees with the Sales Agent that it will not make any offer relating to the Placement ADSs that would constitute a &#147;free writing prospectus&#148; as defined in Rule&nbsp;405 under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(z) <U>Compliance with Environmental Laws</U>. To its knowledge, the Company is not in violation of any statute, any rule, regulation,
decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or release of hazardous chemicals, toxic substances or radioactive and biological materials or relating to the protection or
restoration of the environment or human exposure to hazardous chemicals, toxic substances or radioactive and biological materials (collectively, &#147;<B><U>Environmental Laws</U></B>&#148;), which violation individually or in the aggregate would
result in a Material Adverse Change. The Company neither owns nor, to its knowledge, operates any real property contaminated with any substance that is subject to any Environmental Laws, is not liable for any
<FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any Environmental Laws, nor is it subject to any claim relating to any Environmental Laws, which violation, contamination, liability or claim would individually
or in the aggregate result in a Material Adverse Change; and to the knowledge of the Company there is no pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(aa) <U>Intellectual Property</U>. Except as otherwise disclosed in the Registration Statement and the Prospectus, each of the Company and its
subsidiaries owns and has full right, title and interest in and to, or has valid licenses to use, each material trade name, trademark, service mark, patent, copyright, approval, trade secret and other similar rights (collectively
&#147;<B><U>Intellectual Property</U></B>&#148;) under which the Company and its subsidiaries conduct all or any material part of their respective businesses, and the Company has not created any lien or encumbrance on, or granted any right or
license with respect to, any such Intellectual Property, except where the failure to own or obtain a license or right to use any such Intellectual Property could not reasonably be expected to result in a Material Adverse Change; there is no claim
pending against the Company or its subsidiaries with respect to any Intellectual Property, and the Company and its subsidiaries have not received notice or otherwise become aware that any Intellectual Property that it uses or has used in the conduct
of its business infringes upon or conflicts with the rights of any third party. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(bb) <U>Brokers</U>. Other than the Sales Agent, there is no broker, finder or other party
that is entitled to receive from the Company any brokerage or finder&#146;s fee or other fee or commission as a result of any transactions contemplated by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(cc) <U>No Outstanding Loans or Other Indebtedness</U>. There are no outstanding loans, advances (except normal advances for business expenses
in the ordinary course of business) or guarantees of indebtedness by the Company to or for the benefit of any of the officers or directors of the Company or any of their respective family members, except as disclosed in the Prospectus. The Company
has not directly or indirectly extended or maintained credit, arranged for the extension of credit, or renewed an extension of credit, in the form of a personal loan to or for any director or executive officer of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(dd) <U>No Reliance</U>. The Company has not relied upon the Sales Agent or legal counsel for the Sales Agent for any legal, tax or accounting
advice in connection with the offering and sale of the Placement ADSs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ee) <U>Broker-Dealer Status</U>. Neither the Company nor any of
its related entities (i)&nbsp;is required to register as a &#147;broker&#148; or &#147;dealer&#148; in accordance with the provisions of the Exchange Act or (ii)&nbsp;directly or indirectly through one or more intermediaries, controls or is a
&#147;person associated with a member&#148; or &#147;associated person of a member&#148; (within the meaning of Article I of the NASD Manual administered by FINRA). To the Company&#146;s knowledge, there are no affiliations or associations between
any member of FINRA and any of the Company&#146;s officers, directors or 10% or greater security holders, except as set forth in the Registration Statement. All of the information (including, but not limited to, information regarding affiliations,
security ownership and trading activity) provided to the Sales Agent or its counsel by the Company, and to the Company&#146;s knowledge, its officers and directors and the holders of any securities (debt or equity) or warrants, options or rights to
acquire any securities of the Company in connection with the filing to be made and other supplemental information to be provided to FINRA pursuant to Rule&nbsp;5110 of FINRA in connection with the transactions contemplated by this Agreement is true,
complete and correct, and&nbsp;copies of any Company filings required to be filed with FINRA have been filed with the Commission or delivered to the Sales Agent for filing with FINRA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ff) <U>Compliance with Laws</U>. The Company has not been advised in writing by any governmental authority, that it and each of its
subsidiaries are not conducting business in compliance with all applicable laws, rules and regulations of the jurisdictions in which it is conducting business, except where failure to be so in compliance would not result in a Material Adverse
Change. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(gg) <U>Certain Regulations</U>. The studies, tests and clinical trials conducted by or on behalf of the Company and its
subsidiaries were and, if still pending, are being conducted in compliance with experimental protocols, procedures and controls pursuant to accepted professional scientific standards and all applicable laws and authorizations, including, without
limitation, the Federal Food, Drug and Cosmetic Act and the rules and regulations promulgated thereunder, except where the failure to be in compliance would not reasonably be expected to result in a Material Adverse Change; the descriptions of the
results of such studies, tests and clinical trials contained in the Registration Statement and the Prospectus are accurate and complete in all material respects; except to the extent disclosed in the Registration Statement and the Prospectus, to the
knowledge </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

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of the Company, there are no studies, tests or clinical trials, the results of which the Company believes reasonably call into question in any material respect the study, test, or clinical trial
results described or referred to in the Registration Statement and the Prospectus when viewed in the context in which such results are described; and, except to the extent disclosed in the Registration Statement and the Prospectus, the Company and
its subsidiaries have not received any notices or correspondence from any applicable governmental authority requiring the termination, suspension or material modification of any studies, tests or clinical trials conducted by or on behalf of the
Company or its subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(hh) <U>FDA Regulations</U>. The Company and its subsidiaries: (A)&nbsp;are and, since January&nbsp;1, 2019,
have been in compliance with all applicable statutes, rules, or regulations, including but not limited to those administered by the United States Food and Drug Administration (&#147;<B><U>FDA</U></B>&#148;), the European Medicines Agency
(&#147;<B><U>EMA</U></B>&#148;) and similar governmental authorities (foreign or local) regarding the testing, development, manufacture, packaging, processing, use, distribution, labeling, storage, import, export or disposal of any products being
developed, manufactured or distributed by the Company or its subsidiaries (&#147;<B><U>Applicable Laws</U></B>&#148;), except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change;
(B)&nbsp;have not received any warning letter or other written correspondence or notice from the FDA, EMA or any other governmental authority alleging or asserting noncompliance with any Applicable Laws or any licenses, certificates, approvals,
clearances, authorizations, permits and supplements or amendments thereto required by any such Applicable Laws (&#147;<B><U>Authorization</U></B><B>s</B>&#148;); (C) to the Company&#146;s knowledge, have since January&nbsp;1, 2019, possessed all
material Authorizations and such Authorizations are valid and in full force and effect and are not in material violation of any term of any such Authorizations; (D)&nbsp;have not received written notice of any claim, action, suit, proceeding,
hearing, enforcement, investigation, arbitration or other action from any governmental authority or third party alleging that any product operation or activity is in violation of any Applicable Laws or Authorizations and have no knowledge that any
such governmental authority or third party intends to initiate any such claim, litigation, arbitration, action, suit, investigation or proceeding; (E)&nbsp;have not received written notice that any governmental authority has taken, is taking or
intends to take action to limit, suspend, modify or revoke any Authorizations; (F)&nbsp;have, since January&nbsp;1, 2019, filed, obtained, maintained or submitted all material reports, documents, forms, notices, applications, records, claims,
submissions and supplements or amendments as required by any Applicable Laws or Authorizations and that all such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were complete and correct
in all material respects on the date filed (or were corrected or supplemented by a subsequent submission); and (G)&nbsp;have not, either voluntarily or involuntarily, initiated, conducted, or issued or caused to be initiated, conducted or issued,
any recall, market withdrawal or replacement, safety alert, or other notice or action relating to the alleged lack of safety or efficacy of any product or any alleged product defect or violation and, to the Company&#146;s knowledge, no third party
has initiated, conducted or intends to initiate any such notice or action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Sarbanes&#150;Oxley Act</U>. There is and has been no
failure on the part of the Company or any of the Company&#146;s directors or officers, in their capacities as such, to comply in all material respects with any applicable provision of the Sarbanes-Oxley Act of 2002 and the rules and regulations
promulgated in connection therewith (the &#147;<B><U>Sarbanes-Oxley Act</U></B>&#148;), including Section&nbsp;402 related to loans and Sections&nbsp;302 and 906 related to certifications. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(jj) <U>Disclosure Controls and Procedures</U>. The Company has established and maintains
&#147;disclosure controls and procedures&#148; (as defined in Rules&nbsp;13a&#150;15(e) and 15d&#150;15(e) of the Exchange Act); the Company&#146;s &#147;disclosure controls and procedures&#148; are reasonably designed to ensure that all information
(both financial and non&#150;financial) required to be disclosed by the Company in the reports that it will file or furnish under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and
regulations of the Commission, and that all such information is accumulated and communicated to the Company&#146;s management as appropriate to allow timely decisions regarding required disclosure and to make the certifications of the Chief
Executive Officer and Chief Financial Officer of the Company required under the Exchange Act with respect to such reports. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(kk)
<U>Company&#146;s Accounting System</U>. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurances that (i)&nbsp;transactions are executed in accordance with management&#146;s general or specific
authorization; (ii)&nbsp;transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii)&nbsp;access to assets is
permitted only in accordance with management&#146;s general or specific authorization; and (iv)&nbsp;the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any
differences. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ll) <U>ERISA</U>. The Company is in compliance in all material respects with all presently applicable provisions of the
Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations thereunder (&#147;<B><U>ERISA</U></B>&#148;); no &#147;reportable event&#148; (as defined in ERISA) has occurred with respect to any
&#147;pension plan&#148; (as defined in ERISA) for which the Company would have any liability; the Company has not incurred and does not expect to incur any liability under (i)&nbsp;Title IV of ERISA with respect to termination of, or withdrawal
from, any &#147;pension plan&#148; or (ii)&nbsp;Sections&nbsp;412 or 4971 of the Internal Revenue Code of 1986, as amended, including the regulations and published interpretations thereunder (the &#147;<B><U>Code</U></B>&#148;); and each
&#147;pension plan&#148; for which the Company would have any liability that is intended to be qualified under Section&nbsp;401(a) of the Code is so qualified in all material respects and, to the knowledge of the Company, nothing has occurred,
whether by action or by failure to act, which would cause the loss of such qualification. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(mm) <U>Contracts and Agreements</U>. There are
no contracts, agreements, instruments or other documents that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits thereto which have not been so described in all material respects and filed as
required by Item 601(b) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Act. The copies of all contracts, agreements, instruments and other documents (including governmental licenses, authorizations, permits, consents
and approvals and all amendments or waivers relating to any of the foregoing) that have been furnished to the Sales Agent or its counsel are complete in all material respects and genuine and include all material collateral and supplemental
agreements thereto. All contracts and agreements between the Company and third parties expressly referenced in the Registration Statement or the Prospectus are legal, valid and binding obligations of the Company, enforceable against the Company in
accordance with their respective terms, except as rights to indemnity thereunder (as applicable) may be limited by federal or state securities laws and except as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar
laws affecting the rights of creditors generally, and subject to general principles of equity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(nn) <U>Title to Properties</U>. Except as set forth in the Registration Statement and the
Prospectus, the Company and each of its subsidiaries have good and marketable title to all of the properties and assets reflected as owned in the financial statements referred to in Section&nbsp;6(l) above (or elsewhere in the Registration Statement
and the Prospectus), in each case free and clear of any security interests, mortgages, liens, encumbrances, equities, claims and other defects, except such as do not materially and adversely affect the value of such property or assets and do not
materially interfere with the use made or proposed to be made of such property by the Company or any subsidiary. The material real property, improvements, equipment and personal property held under lease by the Company or any of its subsidiaries are
held under valid and enforceable leases, with such exceptions as are not material and do not materially interfere with the use made or proposed to be made of such real property, improvements, equipment or personal property by the Company or such
subsidiary. The Company and each of its subsidiaries have such consents, easements, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rights-of-way</FONT></FONT> or licenses from any person
(&#147;<B><U><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rights-of-way</FONT></FONT></U></B>&#148;) as are necessary to enable the Company and each of its subsidiaries to conduct its business in the manner described in the
Registration Statement and the Prospectus, and except for such <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rights-of-way</FONT></FONT> the lack of which would not, individually or in the aggregate, result in a Material Adverse
Change. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(oo) <U>No Unlawful Contributions or Other Payments</U>. No payments or inducements have been made or given, directly or
indirectly, to any federal or local official or candidate for, any federal or state office in the United States or foreign offices by the Company or any of its officers or directors, or, to the knowledge of the Company, by any of its employees or
agents or any other person in connection with any opportunity, contract, permit, certificate, consent, order, approval, waiver or other authorization relating to the business of the Company, except for such payments or inducements as were lawful
under applicable laws, rules and regulations. Neither the Company, nor, to the knowledge of the Company, any director, officer, agent, employee or other person associated with or acting on behalf of the Company, (i)&nbsp;has used any corporate funds
for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii)&nbsp;made any direct or indirect unlawful payment to any government official or employee from corporate funds; or (iii)&nbsp;made any
bribe, unlawful rebate, payoff, influence payment, kickback or other unlawful payment in connection with the business of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(pp) <U>Foreign Corrupt Practices Act</U>. None of the Company, any subsidiary or, to the knowledge of the Company, any director, officer,
agent, employee, affiliate or other person acting on behalf of the Company or any of its subsidiaries, is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act
of 1977, as amended, and the rules and regulations thereunder (collectively, the &#147;<B><U>FCPA</U></B>&#148;), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance
of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any &#147;foreign official&#148; (as such term is defined in the
FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA. The Company and its subsidiaries have conducted their respective businesses in compliance with the FCPA and have
instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(qq) <U>Anti-Money Laundering Laws</U>. The operations of the Company and its subsidiaries
are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions
to which the Company is subject, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#147;<B>Anti-</B><B><U>Money
Laundering Laws</U></B>&#148;) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering Laws is
pending or, to the knowledge of the Company, threatened. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(rr) <U>OFAC</U>. None of the Company, any subsidiary or, to the knowledge of
the Company, any director, officer, agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury
Department (&#147;<B><U>OFAC</U></B>&#148;); and the Company will not directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or
entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ss)
<U>Exchange Listing</U>. The ADSs are currently listed on the Exchange under the trading symbol &#147;KZIA&#148;. Except as disclosed in the Prospectus, the Company has not, in the twelve (12)&nbsp;months preceding the date the first Placement
Notice is given hereunder, received notice from the Exchange to the effect that the Company is not in compliance with the listing or maintenance requirements. Except as disclosed in the Prospectus, the Company has no reason to believe that it will
not in the foreseeable future continue to be in compliance with all such listing and maintenance requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(tt) <U>Margin Rules</U>.
Neither the issuance, sale and delivery of the Placement ADSs nor the application of the proceeds thereof by the Company as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the
Federal Reserve System or any other regulation of such Board of Governors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(uu) <U>Continuous Offering Agreements</U>. Except for this
Agreement, the Company is not party to any other equity distribution or sales agency agreement or other similar arrangement with any other agent or any other representative in respect of any &#147;at the market offering&#148; or other continuous
equity offering transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vv) <U>No Material Defaults</U>. Neither the Company nor any of its subsidiaries has defaulted on any
installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Change. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ww) <U>Foreign Private Issuer</U>. The Company is a &#147;foreign private issuer&#148; within the meaning of Rule 405 under the Securities
Act, unless the Company has notified the Sales Agent that it is no longer a foreign private issuer. During the term of this Agreement, the Company agrees to notify the Sales Agent as soon as practicable upon the Company ceasing to be a foreign
private issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) <U>Passive Foreign Investment Company</U>. Except as disclosed in the Registration
Statement and the Prospectus, the Company does not anticipate being treated as a &#147;passive foreign investment company,&#148; as such term is defined in the Code, for the fiscal year ending December&nbsp;31, 2022. Neither the Company nor any
subsidiary is, and, after giving effect to the placements of the Placement ADSs and the application of the proceeds thereof, none of them will be, a &#147;controlled foreign corporation&#148; as defined by the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(yy) <U>Cybersecurity</U>. Except as disclosed in the Registration Statement and the Prospectus, (a)&nbsp;there has been no material security
breach or other material compromise of any of the Company&#146;s information technology and computer systems, networks, hardware, software, sensitive data (including the sensitive or proprietary data of its customers, employees, suppliers, and
vendors maintained by or on behalf of the Company), equipment or technology (collectively, &#147;<B><U>IT Systems and Data</U></B>&#148;) and (b)&nbsp;the Company has not been notified in writing of, and has no knowledge of any event or condition
that would reasonably be expected to result in, any material security breach or other material compromise to its IT Systems and Data. To the Company&#146;s knowledge, neither the Company, nor any of their respective officers, directors and
employees, nor any of their respective agents, contractors or licensees (if any), nor any of their respective business operations, is in violation of any applicable privacy or cybersecurity laws. The Company has complied and is presently in
compliance with all internal policies and contractual obligations relating to (a)&nbsp;the privacy and security of IT Systems and Data and (b)&nbsp;the implementation of commercially reasonable measures to protect such IT Systems and Data from
unauthorized use, access, misappropriation or modification, except as would not, in the case of this clause, individually or in the aggregate, result in a Material Adverse Change. The Company has implemented backup and disaster recovery technology
consistent with industry standards and practices. The Company has also operated its business in a manner compliant with all other privacy, data security and data protection laws, regulations, and industry standards applicable to the Company&#146;s
collection, use, transfer, protection, disposal, disclosure, handling, storage and analysis of its personal data. The Company has implemented an information security program that (a)&nbsp;identifies internal and external risks to the security of the
IT Systems and Data, including any personally identifiable information; (b)&nbsp;implements, monitors and improves adequate and effective administrative, electronic and physical safeguards to control those risks and safeguard the security,
confidentiality, integrity and availability of IT Systems and Data; (c)&nbsp;protects against unauthorized access to Company systems and IT Systems and Data (including on the systems of third parties with access to such Company systems or IT Systems
and Data); (d) maintains notification procedures in the case of any breach of security compromising data containing personally identifiable information; and (e)&nbsp;prohibits any unauthorized access of any
<FONT STYLE="white-space:nowrap">non-Company</FONT> systems, except as would not, in the case of this clause, individually or in the aggregate, result in a Material Adverse Change. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any certificate signed by an officer of the Company and delivered to the Sales Agent or to counsel for the Sales Agent pursuant to or in connection with this
Agreement shall be deemed to be a representation and warranty by the Company to the Sales Agent as to the matters set forth therein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company
acknowledges that the Sales Agent and, for purposes of the opinions to be delivered pursuant to <U>Section</U><U></U><U>&nbsp;7</U> hereof, counsels to the Company and counsel to the Sales Agent, will rely upon the accuracy and truthfulness of the
foregoing representations and hereby consents to such reliance. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Covenants of the Company</U>. The Company covenants and agrees with the Sales Agent
that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Registration Statement Amendments</U>. After the date of this Agreement and during any period in which a Prospectus relating
to any Placement ADSs is required to be delivered by the Sales Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule&nbsp;172 under the Securities Act), (i)&nbsp;the Company will notify
the Sales Agent promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the
Prospectus has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii)&nbsp;the Company will prepare and file with the Commission, promptly upon
the Sales Agent&#146;s request, any amendments or supplements to the Registration Statement or Prospectus that, upon the advice of the Company&#146;s legal counsel (after due consultation with the Sales Agent and its counsel, may be necessary or
advisable in connection with the distribution of the Placement ADSs by the Sales Agent (<I>provided</I>, <I>however</I>, that the failure of the Sales Agent to make such request shall not relieve the Company of any obligation or liability hereunder,
or affect the Sales Agent&#146;s right to rely on the representations and warranties made by the Company in this Agreement, and <I>provided</I>, <I>further</I>, that the only remedy the Sales Agent shall have with respect to the failure to make such
filing shall be to cease making sales under this Agreement until such amendment or supplement is filed); (iii)&nbsp;the Company will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated
by reference, relating to the Placement ADSs or a security convertible into the Placement ADSs unless a copy thereof has been submitted to the Sales Agent within a reasonable period of time before the filing and the Sales Agent has not reasonably
objected thereto (<I>provided</I>, <I>however</I>, that the failure of the Sales Agent to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect the Sales Agent&#146;s right to rely on the
representations and warranties made by the Company in this Agreement, and <I>provided</I>, <I>further</I>, that the only remedy the Sales Agent shall have with respect to the failure by the Company to obtain such consent shall be to cease making
sales under this Agreement); (iv)&nbsp;the Company will furnish to the Sales Agent at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except
for those documents available via EDGAR; (v)&nbsp;the Company will cause each amendment or supplement to the Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph
of Rule&nbsp;424(b) of the Securities Act (without reliance on Rule&nbsp;424(b)(8) of the Securities Act) or, in the case of any documents incorporated by reference, to be filed with the Commission as required pursuant to the Exchange Act, within
the time period prescribed (the determination to file or not file any amendment or supplement with the Commission under this Section&nbsp;7(a), based on the Company&#146;s reasonable opinion or reasonable objections, shall be made exclusively by the
Company). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Notice of Commission Stop Orders</U>. The Company will advise the Sales Agent, promptly after it receives notice or
obtains knowledge thereof, of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or the ADS Registration Statement or any notice objecting to, or other order preventing or suspending the use
of, the Prospectus, of the suspension of the qualification of the Placement ADSs for offering or sale in any jurisdiction, or of the initiation of any proceeding for any such purpose or any </P>
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examination pursuant to Section&nbsp;8(e) of the Securities Act, or if the Company becomes the subject of a proceeding under Section&nbsp;8A of the Securities Act in connection with the offering
of the Placement ADSs; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal if such a stop order should be issued. Until such time as any stop order is lifted, the Sales
Agent shall cease making offers and sales under this Agreement; <I>provided</I>, <I>however</I>, that the Company may delay the filing of any amendment or supplement, if in the judgment of the Company, it is in the best interest of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Delivery of Prospectus; Subsequent Changes</U>. During any period in which a Prospectus relating to the Placement ADSs is required to
be delivered by the Sales Agent under the Securities Act with respect to a pending sale of the Placement ADSs (including in circumstances where such requirement may be satisfied pursuant to Rule&nbsp;172 under the Securities Act), the Company will
comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates all reports and any definitive proxy or information statements required to be filed by the Company
with the Commission pursuant to Sections&nbsp;13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If during such period any event occurs as a result of which the Prospectus as then amended or supplemented would include an
untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the
Registration Statement or Prospectus to comply with the Securities Act, the Company will promptly notify the Sales Agent to suspend the offering of Placement ADSs during such period and the Company will promptly amend or supplement the Registration
Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission or effect such compliance;<I> provided, however</I>, that the Company may delay the filing of any amendment or supplement (subject to continued
suspension of the offering of Placement Shares by the Sales Agent during such period), if in the reasonable judgment of the Company, it is in the best interest of the Company to do so. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Listing of Placement ADSs</U>. During any period in which the Prospectus relating to the Placement ADSs is required to be delivered by
the Sales Agent under the Securities Act with respect to a pending sale of the Placement ADSs (including in circumstances where such requirement may be satisfied pursuant to Rule&nbsp;172 under the Securities Act), the Company will use its
reasonable best efforts to cause the Placement ADSs to be listed on the Exchange and to qualify the Placement ADSs for sale under the securities laws of such jurisdictions as the Sales Agent reasonably designates and to continue such qualifications
in effect so long as required for the distribution of the Placement ADSs; <I>provided</I>, <I>however</I>, that the Company shall not be required in connection therewith to qualify as a foreign corporation or dealer in securities or file a general
consent to service of process or subject itself to taxation in any jurisdiction if it is not otherwise so subject. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Delivery of
Registration Statement and Prospectus</U>. The Company will furnish to the Sales Agent and its counsel (at the expense of the Company) copies of (i)&nbsp;the Registration Statement and the Prospectus (including all documents incorporated by
reference therein) filed with the Commission on the date of this Agreement and (ii)&nbsp;all amendments and supplements to the Registration Statement or Prospectus that are filed with the Commission during any period in which a Prospectus relating
to the Placement ADSs is required to be delivered by the Sales Agent </P>
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under the Securities Act (including all documents filed with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably
practicable and in such quantities as the Sales Agent may from time to time reasonably request and, at the Sales Agent&#146;s request, will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement ADSs may be
made; <I>provided, however,</I> that the Company shall not be required to furnish any document (other than the Prospectus) to the Sales Agent to the extent such document is available on EDGAR. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Earnings Statement</U>. The Company will make generally available to its security holders as soon as practicable, but in any event not
later than fifteen (15)&nbsp;months after the end of the Company&#146;s current fiscal quarter, an earnings statement of the Company and its subsidiaries (which need not be audited) covering a <FONT STYLE="white-space:nowrap">12-month</FONT> period
that complies with Section&nbsp;11(a) and Rule&nbsp;158 of the Securities Act. The terms &#147;earnings statement&#148; and &#147;make generally available to its security holders&#148; shall have the meanings set forth in Rule&nbsp;158 under the
Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Expenses</U>. The Company, whether or not the transactions contemplated hereunder are consummated or this
Agreement is terminated in accordance with the provisions of <U>Section</U><U></U><U>&nbsp;11</U> hereunder, will pay the following expenses all incident to the performance of its obligations hereunder, including, but not limited to, expenses
relating to (i)&nbsp;the preparation, printing and filing of the Registration Statement and each amendment and supplement thereto, of each Prospectus and of each amendment and supplement thereto, (ii)&nbsp;the preparation, issuance and delivery of
the Placement ADSs, including any stock or other transfer taxes and any stamp or other duties payable upon the sale, issuance or delivery of the Placement ADSs to the Sales Agent, (iii)&nbsp;the fees and disbursements of the counsel, accountants and
other advisors to the Company in connection with the transactions contemplated by this Agreement; (iv)&nbsp;the qualification of the Placement ADSs under securities laws in accordance with the provisions of <U>Section</U><U></U><U>&nbsp;7(d)</U> of
this Agreement, including filing fees (<I>provided</I>, <I>however</I>, that any fees or disbursements of counsel for the Sales Agent in connection therewith shall be paid by the Sales Agent except as set forth in (ix)&nbsp;below), (v)&nbsp;the
printing and delivery to the Sales Agent of copies of the Prospectus and any amendments or supplements thereto, and of this Agreement, (vi)&nbsp;the fees and expenses incurred in connection with the listing or qualification of the Placement ADSs for
trading on the Exchange, (vii)&nbsp;the fees and expenses of the transfer agent or registrar for the Placement ADSs; (viii)&nbsp;filing fees and expenses, if any, of the Commission and the FINRA Corporate Financing Department (including, with
respect to any required review by FINRA, the reasonable and documented fees and expenses of the Sales Agent&#146;s counsel); and (ix)&nbsp;the Company shall reimburse the Sales Agent for (a)&nbsp;all of the Company&#146;s costs and expenses paid by
the Sales Agent incident to the Offering, and (b)&nbsp;all reasonable and documented <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> costs and expenses incident to the performance of the obligations of
the Sales Agent under this Agreement (including, without limitation, the reasonable fees and expenses of the Sales Agent&#146;s outside counsel), <I>provided</I>, that reimbursable expenses for the Sales Agent&#146;s outside counsel in connection
with the execution of this Agreement shall not exceed $60,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <U>Use of Proceeds</U>. The Company will use the Net Proceeds as
described in the Prospectus in the section entitled &#147;Use of Proceeds.&#148; The Company will apply the gross proceeds of any placement in paying up to the full nominal value of, and any premium payable on, the relevant number of Ordinary Shares
underlying the Placement ADSs sold. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Notice of Other Sales</U>. During the pendency of any Placement Notice given
hereunder, the Company shall provide the Sales Agent notice as promptly as reasonably possible before it offers to sell, contracts to sell, sells, grants any option to sell or otherwise disposes of any Ordinary Shares or ADSs (other than Placement
ADSs offered pursuant to the provisions of this Agreement) or securities convertible into or exchangeable for Ordinary Shares or ADSs, warrants or any rights to purchase or acquire Ordinary Shares or ADSs; <I>provided</I>, that such notice shall not
be required in connection with the (i)&nbsp;issuance, grant or sale of Ordinary Shares or ADSs, options or other rights to purchase or otherwise acquire Ordinary Shares or ADSs, or Ordinary Shares or ADSs issuable upon the exercise of options or
other equity awards, in each case granted pursuant to any stock option, stock bonus or other stock or compensatory plan or arrangement, whether now in effect or hereafter implemented, (ii)&nbsp;issuance of securities in connection with an
acquisition, merger or sale or purchase of assets which is described at the time of issuance in the Registration Statement and the Prospectus, (iii)&nbsp;issuance or sale of Ordinary Shares or ADSs upon conversion of securities or the exercise of
warrants, options or other rights then in effect or outstanding, and disclosed in filings by the Company available on EDGAR or otherwise in writing to the Sales Agent, (iv)&nbsp;issuance or sale of Ordinary Shares or ADSs pursuant to any dividend
reinvestment and stock purchase plan that the Company has in effect or may adopt from time to time, <I>provided</I> that the implementation of such new plan is disclosed to the Sales Agent in advance, and (v)&nbsp;the issuance of Ordinary Shares, or
securities convertible into Ordinary Shares, which are offered and sold in a privately negotiated transaction to vendors, customers, strategic partners or potential strategic partners or other investors (including Ordinary Shares issuable upon
satisfaction of any milestone under the Triaxial Convertible Note Deed Poll) conducted in a manner so as not to be integrated into the offering of ADSs hereby. If the Company notifies the Sales Agent under this <U>Section</U><U></U><U>&nbsp;7(i)</U>
of a proposed sale of Ordinary Shares or ADSs or Ordinary Share or ADS equivalents, the Sales Agent may suspend any offers and sales of Securities under this Agreement for a period of time deemed appropriate by the Sales Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <U>Change of Circumstances</U>. The Company will, at any time during a fiscal quarter in which the Company intends to tender a Placement
Notice or sell Placement ADSs, advise the Sales Agent promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or other
document provided to the Sales Agent pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <U>Due Diligence Cooperation</U>. The Company will cooperate with
any reasonable due diligence review conducted by the Sales Agent or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate
officers, during regular business hours and at the Company&#146;s principal offices, as the Sales Agent may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l)
<U>Required Filings Relating to Placement of Placement ADSs</U>. The Company shall set forth in each annual report on Form <FONT STYLE="white-space:nowrap">20-F</FONT> and each half yearly report on Form <FONT STYLE="white-space:nowrap">6-K</FONT>
in which the Company furnishes its unaudited interim financial statements filed by the Company with the Commission in respect of any quarter in which sales of Placement ADSs were made by or through the Sales Agent under this Agreement, with regard
to the relevant period, the amount of Placement ADSs sold to or through the Sales Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Sales Agent with respect to such sales of Placement ADSs. To the extent that
the filing of a prospectus supplement to the Prospectus with the Commission with </P>
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respect to any sales of Placement ADSs becomes required under Rule&nbsp;424(b) under the Securities Act, the Company agrees that, on or before such dates as the Securities Act shall require, the
Company will (i)&nbsp;file a prospectus supplement to the Prospectus with the Commission under the applicable paragraph of Rule&nbsp;424(b) under the Securities Act, which prospectus supplement will set forth, with regard to the relevant period, the
amount of Placement ADSs sold to or through the Sales Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Sales Agent with respect to such Placement ADSs, and (ii)&nbsp;deliver such number of copies of each such
prospectus supplement to each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange or market. The Company shall afford the Sales Agent and its counsel with a reasonable opportunity to
review and comment upon, shall consult with the Sales Agent and its counsel on the form and substance of, and shall give due consideration to all such comments from the Sales Agent or its counsel on, any such filing prior to the issuance, filing or
public disclosure thereof; provided, however, that the Company shall not be required to submit for review (A)&nbsp;any portion of any periodic reports filed with the Commission under the Exchange Act other than the specific disclosure relating to
any sales of Placement ADSs and (B)&nbsp;any disclosure contained in periodic reports filed with the Commission under the Exchange Act if it shall have previously provided the same disclosure for review in connection with a previous filing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <U>Representation Dates; Certificate</U>. On or prior to the date the first Placement Notice is given hereunder and each time the Company
subsequently thereafter (i)&nbsp;amends or supplements the Registration Statement or the Prospectus relating to the Placement ADSs (other than (A)&nbsp;a prospectus supplement filed in accordance with <U>Section</U><U></U><U>&nbsp;7(l)</U> of this
Agreement or (B)&nbsp;a supplement or amendment that relates to an offering of securities other than the Placement ADSs) by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of document(s) by reference to
the Registration Statement or the Prospectus relating to the Placement ADSs; (ii)&nbsp;files an annual report on Form <FONT STYLE="white-space:nowrap">20-F</FONT> under the Exchange Act (including any Form 20-F/A containing amended financial
information or a material amendment to the previously filed Form <FONT STYLE="white-space:nowrap">20-F);</FONT> (iii)&nbsp;furnishes its unaudited interim financial statements on Form <FONT STYLE="white-space:nowrap">6-K</FONT> under the Exchange
Act; (iv)&nbsp;files a report on Form <FONT STYLE="white-space:nowrap">6-K</FONT> containing amended financial information that is material to the offering of the Placement ADSs pursuant to this Agreement in the Sales Agent&#146;s reasonable
discretion; or (v)&nbsp;sells Placement ADSs to the Sales Agent as principal at the Point of Sale pursuant to the applicable Placement Notice (each date of filing of one or more of the documents and each other date referred to in clauses&nbsp;(i)
through (v)&nbsp;shall be a &#147;<B><U>Representation Date</U></B>&#148;), the Company shall furnish the Sales Agent within three (3)&nbsp;Trading Days after each Representation Date with a certificate, in the form attached hereto as
<U>Exhibit</U><U></U><U>&nbsp;7(m)</U>. The requirement to provide a certificate under this <U>Section</U><U></U><U>&nbsp;7(m)</U> shall be waived for any Representation Date occurring at a time at which no Placement Notice is pending, which waiver
shall continue until the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date; <I>provided</I>,
<I>however</I>, that such waiver shall not apply for any Representation Date on which the Company files its annual report on Form <FONT STYLE="white-space:nowrap">20-F.</FONT> Notwithstanding the foregoing, if the Company subsequently decides to
sell Placement ADSs following a Representation Date when the Company relied on such waiver and did not provide the Sales Agent with a certificate under this <U>Section</U><U></U><U>&nbsp;7(m)</U>, then before the Company delivers the Placement
Notice or the Sales Agent sells any Placement ADSs, the Company shall provide the Sales Agent with a certificate, in the form attached hereto as <U>Exhibit</U><U></U><U>&nbsp;7(m)</U>, dated the date of the Placement Notice. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <U>Legal Opinions</U>. On or prior to the date the first Placement Notice is given
hereunder, the Company shall cause to be furnished to the Sales Agent (i)&nbsp;the written opinion and negative assurances of Goodwin Procter LLP, U.S. counsel to the Company, or other counsel reasonably satisfactory to the Sales Agent
(&#147;<B><U>Company U.S. Counsel</U></B>&#148;), (ii) the written opinion and negative assurances of Baker&nbsp;&amp; McKenzie, Australian counsel to the Company (&#147;<B><U>Company Australian Counsel</U></B>&#148;), and (iii)&nbsp;the written
opinion of MinterEllison LLP, intellectual property counsel to the Company, or other counsel reasonably satisfactory to the Sales Agent (&#147;<B><U>Company IP Counsel</U></B>&#148;), in each case in form and substance reasonably satisfactory to the
Sales Agent. Thereafter, within three (3)&nbsp;Trading Days after each Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U> for which no waiver is applicable
pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U>, and not more than once per calendar quarter, the Company shall cause to be furnished to the Sales Agent the written opinions and negative assurance of Company U.S. Counsel, Company Australian
Counsel and Company IP Counsel substantially in the form previously agreed between the Company and the Sales Agent, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; <I>provided</I>,
<I>however</I>, that if Company U.S. Counsel, Company Australian Counsel or Company IP Counsel has previously furnished to the Sales Agent such written opinions and negative assurance substantially in the form previously agreed between the Company
and the Sales Agent, such counsel may, in respect of any future Representation Date, furnish the Sales Agent with a letter (a &#147;<B><U>Reliance Letter</U></B>&#148;) in lieu of such opinions and negative assurance to the effect that the Sales
Agent may rely on the prior opinions and negative assurance of such counsel delivered pursuant to this <U>Section</U><U></U><U>&nbsp;7(n)</U> to the same extent as if it were dated the date of such Reliance Letter (except that statements in such
prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented to the date of such Reliance Letter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <U>Comfort Letter</U>. On or prior to the date the first Placement Notice is given hereunder and within three (3)&nbsp;Trading Days after
each subsequent Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U> for which no waiver is applicable pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U>, the
Company shall cause its independent accountants to furnish the Sales Agent letters (the &#147;<B><U>Comfort Letters</U></B>&#148;), dated the date that the Comfort Letter is delivered, in form and substance satisfactory to the Sales Agent,
(i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the rules and regulations of the PCAOB and are in compliance with the applicable requirements relating
to the qualification of accountants under <FONT STYLE="white-space:nowrap">Rule&nbsp;2-01</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> of the Commission, (ii)&nbsp;stating, as of such date, the conclusions and findings of such
firm with respect to the financial information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to the Sales Agent in connection with registered public offerings (the first such letter, the &#147;<B><U>Initial
Comfort Letter</U></B>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration
Statement and the Prospectus, as amended and supplemented to the date of such letter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <U>Appendix 3B</U>. Immediately following the
issuance of any Placement Notice hereunder, the Company must complete and file an Appendix 3B with ASX Limited (ABN 98 008 624 691) (&#147;<B><U>ASX</U></B>&#148;) in respect of the Ordinary Shares that are intended to be issued in relation to the
Placement ADSs the subject of that Placement Notice, so as to satisfy the Company&#146;s notification obligation under ASX Listing Rule 3.10.3. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <U>Appendix 2A</U>. No later than 12:00 P.M. (Sydney time) at least one Business Day
prior to the intended date for quotation of any Ordinary Shares to be issued by the Company in connection with this Agreement, the Company must complete and file an Appendix 2A with ASX in respect of such Ordinary Shares, so as to satisfy the
Company&#146;s notification obligation under ASX Listing Rule 2.7. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <U>Cleansing Notice.</U> Within 5 Business Days after the day any
Ordinary Shares are to be issued by the Company in connection with this Agreement, the Company must complete and file with ASX a notice that complies with section 708A(6) of the Corporations Act to satisfy the Company&#146;s notification obligation
under section 708A(5)(e)(i) of the Corporations Act (&#147;<B><U>Cleansing Notice</U></B>&#148;) and otherwise take all other actions as are necessary to ensure that the Ordinary Shares can be <FONT STYLE="white-space:nowrap">on-sold</FONT> without
disclosure under Chapter 6D.2 of the Corporations Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <U>Market Activities</U>. The Company will not, directly or indirectly,
(i)&nbsp;take any action designed to cause or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the
Placement ADSs or (ii)&nbsp;sell, bid for, or purchase the Placement ADSs to be issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Placement ADSs other than the Sales Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <U>Insurance</U>. The Company and its subsidiaries shall maintain, or caused to be maintained, insurance in such amounts and covering such
risks as is reasonable and customary for the business in which it is engaged. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <U>Compliance with Laws</U>. The Company and each of
its subsidiaries shall maintain, or cause to be maintained, all material environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the
Company and each of its subsidiaries shall conduct their businesses, or cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure
to maintain or be in compliance with such permits, licenses and authorizations could not reasonably be expected to result in a Material Adverse Change. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>Investment Company Act</U>. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor its
subsidiaries is or, after giving effect to the offering and sale of the Placement ADSs and the application of proceeds therefrom as described in the Prospectus, will be, an &#147;investment company&#148; within the meaning of such term under the
Investment Company Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <U>Securities Act and Exchange Act</U>. The Company will use its best efforts to comply with all requirements
imposed upon it by the Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement ADSs as contemplated by the provisions hereof and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <U>No Offer to Sell</U>. Other than the Prospectus, neither the Sales Agent nor the Company (including its agents and representatives,
other than the Sales Agent in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule&nbsp;405 under the Securities Act), required to be filed with the Commission, that constitutes
an offer to sell or solicitation of an offer to buy Placement ADSs hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <U>Sarbanes-Oxley Act</U>. The Company and its subsidiaries will use their best efforts
to comply with all effective applicable provisions of the Sarbanes-Oxley Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(z) <U>New Registration Statement</U>. If immediately prior
to the third (3<SUP STYLE="font-size:85%; vertical-align:top">rd</SUP>) anniversary of the initial effective date of the Registration Statement, any of the Placement ADSs remain unsold, the sale of the Placement ADSs under this Agreement shall
automatically be suspended unless and until the Company files a new shelf registration statement relating to the Placement ADSs and such new registration statement is declared effective by the Commission. References herein to the Registration
Statement shall include such new shelf registration statement. If any such new shelf registration statement becomes effective prior to the termination date of this Agreement, the Company agrees to notify the Sales Agent of such effective date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Conditions to the Sales Agent&#146;s Obligations</U>. The obligations of the Sales Agent hereunder with respect to a Placement will be
subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by the Sales Agent of a due diligence review
satisfactory to the Sales Agent in its reasonable judgment, and to the continuing satisfaction (or waiver by the Sales Agent in its sole discretion) of the following additional conditions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Registration Statement Effective</U>. The Registration Statement shall be effective and shall be available for the sale of all Placement
ADSs contemplated to be issued by any Placement Notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Securities Act Filings Made</U>. The Company shall have filed with the
Commission the ATM Prospectus pursuant to Rule&nbsp;424(b) under the Securities Act within the applicable time period prescribed for such filing by Rule&nbsp;424(b) (without reliance on Rule&nbsp;424(b)(8) of the Securities Act). All other filings
with the Commission required by Rule&nbsp;424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule&nbsp;424.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>No Material Notices</U>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company or
any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration Statement, the response to which would require any
post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of the
Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Placement ADSs for
sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv)&nbsp;the occurrence of any event that makes any material statement made in the Registration Statement or the Prospectus or any material document
incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related Prospectus or such documents so that, in the case of the
</P>
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Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein not misleading and, that in the case of the Prospectus, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>No Misstatement or Material Omission</U>. The Sales
Agent shall not have advised the Company that the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in the Sales Agent&#146;s reasonable opinion is material, or omits to state a
fact that in the Sales Agent&#146;s reasonable opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Material Changes</U>. Except as contemplated in the Prospectus, or disclosed in the Company&#146;s reports filed with the Commission,
there shall not have been any material adverse change in the authorized capital stock of the Company or any Material Adverse Change or any development that could reasonably be expected to result in a Material Adverse Change, or any downgrading in or
withdrawal of the rating assigned to any of the Company&#146;s securities (other than asset backed securities) by any rating organization or a public announcement by any rating organization that it has under surveillance or review its rating of any
of the Company&#146;s securities (other than asset backed securities), the effect of which, in the case of any such action by a rating organization described above, in the reasonable judgment of the Sales Agent (without relieving the Company of any
obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement ADSs on the terms and in the manner contemplated by this Agreement and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Company Counsel Legal Opinion</U>. The Sales Agent shall have received the opinions and negative assurances of Company U.S. Counsel and
Company Australian Counsel required to be delivered pursuant <U>Section</U><U></U><U>&nbsp;7(n)</U> on or before the date on which such delivery of such opinions and negative assurances is required pursuant to <U>Section</U><U></U><U>&nbsp;7(n)</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Company IP Counsel Legal Opinion</U>. The Sales Agent shall have received the opinion of Company IP Counsel required to be
delivered pursuant <U>Section</U><U></U><U>&nbsp;7(n)</U> on or before the date on which such delivery of such opinions and negative assurances is required pursuant to <U>Section</U><U></U><U>&nbsp;7(n)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <U>Sales Agent Counsel Legal Opinion</U>. The Sales Agent shall have received from Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.,
counsel to the Sales Agent, on or before the date on which the delivery of the Company U.S. Counsel and Company Australian Counsel legal opinions are required pursuant to <U>Section</U><U></U><U>&nbsp;7(n)</U>, such opinions and negative assurances
with respect to such matters as the Sales Agent may reasonably require, and the Company shall have furnished to such counsel such documents as they request for enabling them to pass upon such matters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Comfort Letter</U>. The Sales Agent shall have received the Comfort Letter required to be delivered pursuant
<U>Section</U><U></U><U>&nbsp;7(o)</U> on or before the date on which such delivery of such Comfort Letter is required pursuant to <U>Section</U><U></U><U>&nbsp;7(o)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <U>Representation Certificate</U>. The Sales Agent shall have received the certificate
required to be delivered pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U> on or before the date on which delivery of such certificate is required pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <U>Secretary&#146;s Certificate</U>. On or prior to the date the first Placement Notice is given hereunder, the Sales Agent shall have
received a certificate, signed on behalf of the Company by its corporate Secretary, certifying as to (i)&nbsp;the constitution of the Company, (ii)&nbsp;the resolutions of the board of directors of the Company (or a committee thereof) authorizing
the execution, delivery and performance of this Agreement and the issuance of the Placement ADSs and (iii)&nbsp;the incumbency of the officers duly authorized to execute this Agreement and the other documents contemplated by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <U>No Suspension</U>. Trading in the ADSs shall not have been suspended on the Exchange and the ADSs shall not have been delisted from the
Exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <U>Other Materials</U>. On each date on which the Company is required to deliver a certificate pursuant to
<U>Section</U><U></U><U>&nbsp;7(m)</U>, the Company shall have furnished to the Sales Agent such appropriate further opinions, certificates, letters and documents as the Sales Agent may have reasonably requested. All such opinions, certificates,
letters and other documents shall have been in compliance with the provisions hereof. The Company will furnish the Sales Agent with such conformed copies of such opinions, certificates, letters and other documents as the Sales Agent shall have
reasonably requested. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <U>Approval for Listing</U>. The Company shall have filed a Notification: Listing of Additional Shares with
Nasdaq to satisfy the Company&#146;s notification obligation under Nasdaq Listing Rule 5250(e)(2). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <U>Appendix 3B</U>. The Company
shall have filed an Appendix 3B with ASX to satisfy the Company&#146;s notification obligation under ASX Listing Rule 3.10.3 on the date such notification is required pursuant to <U>Section</U><U></U><U>&nbsp;7(p)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <U>Appendix 2A</U>. The Company shall have filed an Appendix 2A with ASX to satisfy the Company&#146;s notification obligation under ASX
Listing Rule 2.7 on or before the date such notification is required pursuant to <U>Section</U><U></U><U>&nbsp;7(q)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <U>Cleansing
Notice</U>. The Company shall have filed a Cleansing Notice with ASX to satisfy the Company&#146;s notification obligation under section 708A(5)(e)(i) of the Corporations Act on or before the date such notification is required pursuant to
<U>Section</U><U></U><U>&nbsp;7(r)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <U>Allotment of Ordinary Shares</U>. The Ordinary Shares underlying the Placement ADSs to be
issued on the relevant Settlement Date shall have been validly allotted conditioned only on receipt by the Company of payment of the purchase price for the relevant Placement ADSs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <U>Deposit of Ordinary Shares</U>. The Ordinary Shares underlying the Placement ADSs to be sold by the Company through the Sales Agent
will, at the relevant Settlement Date, be issued to, and deposited with, the Custodian (or its nominee) in accordance with the provisions of the Deposit Agreement and otherwise comply with the Deposit Agreement so that ADSs representing such
Ordinary Shares will be delivered by the Depositary against receipt of such Ordinary Shares. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <U>No Termination Event</U>. There shall not have occurred any event that would permit
the Sales Agent to terminate this Agreement pursuant to <U>Section</U><U></U><U>&nbsp;11(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <U>FINRA</U>. The Sales Agent shall
have received a letter from the Corporate Financing Department of FINRA issued in connection with the Registration Statement and FINRA shall not have raised any objection with respect to the fairness or reasonableness of the underwriting terms, or
other arrangements of the transactions, contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>Depositary</U>. The Company has engaged and will maintain, at its
sole expense, a depositary for its ADSs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <U>Depositary Counsel Legal Opinion</U>. The Sales Agent shall have received from Emmet,
Marvin&nbsp;&amp; Martin, LLP, counsel for the Depositary, an opinion, on or prior to the date of the first Placement Notice, reasonably satisfactory in form and substance to the Sales Agent and its counsel. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <U>Depositary Certificate</U>. On or prior to the date of the first Placement Notice, the Depositary shall have furnished or caused to be
furnished to the Sales Agent a certificate reasonably satisfactory to the Sales Agent of one of its authorized officers stating that the Deposit Agreement has been duly executed and has not been terminated by the Depositary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <U>Deposit Agreement</U>. The Deposit Agreement shall be in full force and effect and the Company and the Depositary shall have taken all
actions necessary to permit the deposit of underlying Ordinary Shares and the issuance of the Placement ADSs in accordance with the Deposit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Indemnification and Contribution</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Company Indemnification</U>. The Company agrees to indemnify and hold harmless the Sales Agent, the directors, officers, members,
partners, employees and agents of the Sales Agent each broker dealer affiliate of the Sales Agent, and each the Sales Agent Affiliate, if any, from and against any and all losses, claims, liabilities, expenses and damages (including, but not limited
to, any and all reasonable investigative, legal and other expenses incurred in connection with, and any and all amounts paid in settlement (in accordance with <U>Section</U><U></U><U>&nbsp;9(c)</U>) of, any action, suit or proceeding between any of
the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), as and when incurred, to which the Sales Agent, or any such person, may become subject under the
Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x)&nbsp;any
untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or supplement thereto or in any free writing prospectus or in any application or other document executed by or
on behalf of the Company or based on written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Placement ADSs under the securities laws thereof or filed with the Commission, (y)&nbsp;the omission
or alleged omission to state in any such document a material fact required to be stated in it or necessary to make the statements in it not misleading or (z)&nbsp;any breach by any of the indemnifying parties of any of their respective
representations, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>

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warranties and agreements contained in this Agreement; <I>provided, however</I>, that this indemnity agreement shall not apply to the extent that such loss, claim, liability, expense or damage
arises from the sale of the Placement ADSs pursuant to this Agreement and is caused directly by an untrue statement or omission made in reliance upon and in strict conformity with written information relating to the Sales Agent and furnished to the
Company by the Sales Agent expressly for inclusion in any document as described in clause&nbsp;(x) of this <U>Section</U><U></U><U>&nbsp;9(a)</U>. This indemnity agreement will be in addition to any liability that the Company might otherwise have.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>The Sales Agent Indemnification</U>. The Sales Agent agrees to indemnify and hold harmless the Company and its directors and each
officer of the Company that signed the Registration Statement, and each person, if any, who (i)&nbsp;controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act or (ii)&nbsp;is controlled
by or is under common control with the Company (each, a &#147;<B><U>Company Affiliate</U></B>&#148;) from and against any and all losses, claims, liabilities, expenses and damages (including, but not limited to, any and all reasonable investigative,
legal and other expenses incurred in connection with, and any and all amounts paid in settlement (in accordance with <U>Section</U><U></U><U>&nbsp;9(c)</U>) of, any action, suit or proceeding between any of the indemnified parties and any
indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), as and when incurred, to which any such Company Affiliate, may become subject under the Securities Act, the Exchange Act or other
federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x)&nbsp;any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or supplement thereto, or (y)&nbsp;the omission or alleged omission to state in any such document a material fact required to be stated in it or
necessary to make the statements in it not misleading; <I>provided</I>, <I>however</I>, that this indemnity agreement shall apply only to the extent that such loss, claim, liability, expense or damage is caused directly by an untrue statement or
omission made in reliance upon and in strict conformity with written information relating to the Sales Agent and furnished to the Company by the Sales Agent expressly for inclusion in any document as described in clause&nbsp;(x) of this
<U>Section</U><U></U><U>&nbsp;9(b)</U>, which the Company acknowledges consists solely of the material referred to in <B><U>Schedule 5</U></B> hereto, as updated from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Procedure</U>. Any party that proposes to assert the right to be indemnified under this <U>Section</U><U></U><U>&nbsp;9</U> will,
promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this <U>Section</U><U></U><U>&nbsp;9</U>, notify each such indemnifying party
of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from (i)&nbsp;any liability that it might have to any indemnified party
otherwise than under this <U>Section</U><U></U><U>&nbsp;9</U> and (ii)&nbsp;any liability that it may have to any indemnified party under the foregoing provision of this <U>Section</U><U></U><U>&nbsp;9</U> unless, and only to the extent that, such
omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be
entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly with any other indemnifying
party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the
</P>
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defense, the indemnifying party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable costs of investigation
subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at the expense of
such indemnified party unless (1)&nbsp;the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2)&nbsp;the indemnified party has reasonably concluded (based on advice of counsel) that there may
be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3)&nbsp;a conflict or potential conflict exists (based on advice of counsel to the indemnified
party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4)&nbsp;the indemnifying party has not in fact
employed counsel to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable and documented fees, disbursements and other charges of counsel will be at
the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable and documented fees,
disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All such reasonable and documented fees, disbursements and other charges will be
reimbursed by the indemnifying party promptly as they are incurred. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the
prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this <U>Section</U><U></U><U>&nbsp;9</U>
(whether or not any indemnified party is a party thereto), unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising or that may arise out of such claim, action or
proceeding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Contribution</U>. In order to provide for just and equitable contribution in circumstances in which the
indemnification provided for in the foregoing paragraphs of this <U>Section</U><U></U><U>&nbsp;9</U> is applicable in accordance with its terms but for any reason is held to be unavailable from the Company or the Sales Agent, the Company and the
Sales Agent will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or
proceeding or any claim asserted, but after deducting any contribution received by the Company from persons other than the Sales Agent, such as persons who control the Company within the meaning of the Securities Act, officers of the Company who
signed the Registration Statement and directors of the Company, who also may be liable for contribution) to which the Company and the Sales Agent may be subject in such proportion as shall be appropriate to reflect the relative benefits received by
the Company on the one hand and the Sales Agent on the other. The relative benefits received by the Company on the one hand and the Sales Agent on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from the sale of
the Placement ADSs (before deducting expenses) received by the Company bear to the total compensation received by the Sales Agent from the sale of Placement ADSs on behalf of the Company. If, but only if, the allocation provided by the foregoing
sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to </P>
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reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and the Sales Agent, on the other, with respect to the
statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering. Such relative fault shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the Sales Agent, the intent of the parties
and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Sales Agent agree that it would not be just and equitable if contributions pursuant to this
<U>Section</U><U></U><U>&nbsp;9(d)</U> were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified
party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this <U>Section</U><U></U><U>&nbsp;9(d)</U> shall be deemed to include, for the purpose of this
<U>Section</U><U></U><U>&nbsp;9(d)</U>, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with
<U>Section</U><U></U><U>&nbsp;9(c)</U> hereof. Notwithstanding the foregoing provisions of this <U>Section</U><U></U><U>&nbsp;9(d)</U>, the Sales Agent shall not be required to contribute any amount in excess of the commissions received by it under
this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For
purposes of this <U>Section</U><U></U><U>&nbsp;9(d)</U>, any person who controls a party to this Agreement within the meaning of the Securities Act will have the same rights to contribution as that party (and any officers, directors, members,
partners, employees or agents of the Sales Agent and each broker dealer affiliate of the Sales Agent will have the same rights to contribution as the Sales Agent), and each officer of the Company who signed the Registration Statement and each
director of the Company will have the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in
respect of which a claim for contribution may be made under this <U>Section</U><U></U><U>&nbsp;9(d)</U>, will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties
from whom contribution may be sought from any other obligation it or they may have under this <U>Section</U><U></U><U>&nbsp;9(d)</U> except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or
defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of <U>Section</U><U></U><U>&nbsp;9(c)</U> hereof, no party will be liable for contribution with respect to any action or claim
settled without its written consent if such consent is required pursuant to <U>Section</U><U></U><U>&nbsp;9(c)</U> hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.
<U>Representations and Agreements to Survive Delivery</U>. The indemnity and contribution agreements contained in <U>Section</U><U></U><U>&nbsp;9</U> of this Agreement and all representations and warranties of the Company and the Sales Agent herein
or in certificates delivered pursuant hereto shall survive, as of their respective dates, regardless of (i)&nbsp;any investigation made by or on behalf of the Sales Agent, any controlling person of the Sales Agent, or the Company (or any of their
respective officers, directors, members or controlling persons), (ii)&nbsp;delivery and acceptance of the Placement ADSs and payment therefor or (iii)&nbsp;any termination of this Agreement. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <U>Termination</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Sales Agent shall have the right by giving notice as hereinafter specified at any time to terminate this Agreement if (i)&nbsp;any
Material Adverse Change, or any development that could reasonably be expected to result in a Material Adverse Change has occurred that, in the reasonable judgment of the Sales Agent, may materially impair the ability of the Sales Agent to sell the
Placement ADSs hereunder, (ii)&nbsp;the Company shall have failed, refused or been unable to perform any agreement on its part to be performed hereunder;<I> provided</I>, <I>however</I>, in the case of any failure of the Company to deliver (or cause
another person to deliver) any certification, opinion, or letter required under <U>Sections</U><U></U><U>&nbsp;7(m)</U>, <U>7(n)</U>, or <U>7(o)</U>, the Sales Agent&#146;s right to terminate shall not arise unless such failure to deliver (or cause
to be delivered) continues for more than thirty (30)&nbsp;days from the date such delivery was required, (iii)&nbsp;any other condition of the Sales Agent&#146;s obligations hereunder is not fulfilled, or (iv)&nbsp;any suspension or limitation of
trading in the Placement ADSs or in securities generally on the Exchange shall have occurred (including automatic halt in trading pursuant to market-decline triggers, other than those in which solely program trading is temporarily halted), or a
major disruption of securities settlements or clearing services in the United States shall have occurred, or minimum prices for trading have been fixed on the Exchange. Any such termination shall be without liability of any party to any other party
except that the provisions of <U>Section</U><U></U><U>&nbsp;7(g)</U> (Expenses), <U>Section</U><U></U><U>&nbsp;9</U> (Indemnification and Contribution), <U>Section</U><U></U><U>&nbsp;10</U> (Representations and Agreements to Survive Delivery),
<U>Section</U><U></U><U>&nbsp;11(f)</U>, <U>Section</U><U></U><U>&nbsp;16</U> (Applicable Law; Consent to Jurisdiction) and <U>Section</U><U></U><U>&nbsp;17</U> (Waiver of Jury Trial) hereof shall remain in full force and effect notwithstanding such
termination. If the Sales Agent elects to terminate this Agreement as provided in this <U>Section</U><U></U><U>&nbsp;11(a)</U>, the Sales Agent shall provide the required notice as specified in <U>Section</U><U></U><U>&nbsp;12</U> (Notices). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Company shall have the right, by giving ten (10)&nbsp;days&#146; notice as hereinafter specified in
<U>Section</U><U></U><U>&nbsp;12</U>, to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of
<U>Section</U><U></U><U>&nbsp;7(g)</U>, <U>Section</U><U></U><U>&nbsp;9</U>, <U>Section</U><U></U><U>&nbsp;10</U>, <U>Section</U><U></U><U>&nbsp;11(f)</U>, <U>Section</U><U></U><U>&nbsp;16</U> and <U>Section</U><U></U><U>&nbsp;17</U> hereof shall
remain in full force and effect notwithstanding such termination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Sales Agent shall have the right, by giving ten
(10)&nbsp;days&#146; notice as hereinafter specified in <U>Section</U><U></U><U>&nbsp;12</U>, to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any
party to any other party except that the provisions of <U>Section</U><U></U><U>&nbsp;7(g)</U>, <U>Section</U><U></U><U>&nbsp;9</U>, <U>Section</U><U></U><U>&nbsp;10</U>, <U>Section</U><U></U><U>&nbsp;11(f)</U>, <U>Section</U><U></U><U>&nbsp;16</U>
and <U>Section</U><U></U><U>&nbsp;17</U> hereof shall remain in full force and effect notwithstanding such termination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Unless
earlier terminated pursuant to this <U>Section</U><U></U><U>&nbsp;11</U>, this Agreement shall automatically terminate upon the issuance and sale of all of the Placement ADSs to or through the Sales Agent on the terms and subject to the conditions
set forth herein; <I>provided</I> that the provisions of <U>Section</U><U></U><U>&nbsp;7(g)</U>, <U>Section</U><U></U><U>&nbsp;9</U>, <U>Section</U><U></U><U>&nbsp;10</U>, <U>Section</U><U></U><U>&nbsp;11(f)</U>, <U>Section</U><U></U><U>&nbsp;16</U>
and <U>Section</U><U></U><U>&nbsp;17</U> hereof shall remain in full force and effect notwithstanding such termination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) This
Agreement shall remain in full force and effect unless terminated pursuant to <U>Sections</U><U></U><U>&nbsp;11(a)</U>, <U>(b)</U>, <U>(c)</U> or <U>(d)</U>&nbsp;above or otherwise by mutual agreement of the parties; <I>provided</I>, <I>however</I>,
that any such termination by mutual agreement shall in all cases be deemed to provide that <U>Section</U><U></U><U>&nbsp;7(g)</U>, <U>Section</U><U></U><U>&nbsp;9</U>, <U>Section</U><U></U><U>&nbsp;10</U>, <U>Section</U><U></U><U>&nbsp;11(f)</U>,
<U>Section</U><U></U><U>&nbsp;16</U> and <U>Section</U><U></U><U>&nbsp;17</U> shall remain in full force and effect. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Any termination of this Agreement shall be effective on the date specified in such
notice of termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by the Sales Agent or the Company, as the case may be. If such termination shall
occur prior to the Settlement Date for any sale of Placement ADSs, such termination shall not become effective until the close of business on such Settlement Date and such Placement ADSs shall settle in accordance with the provisions of this
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <U>Notices</U>. All notices or other communications required or permitted to be given by any party to any other party
pursuant to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to the Sales Agent, shall be delivered to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Oppenheimer&nbsp;&amp; Co. Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">85 Broad Street, 26th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">New
York, NY 10004 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attention: Peter Vogelsang, Office of General Counsel </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email: peter.vogelsang@opco.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy
(which shall not constitute notice) to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">666 Third Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">New York, New
York 10017 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attention: Ivan K. Blumenthal, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Facsimile: (212) <FONT STYLE="white-space:nowrap">983-3115</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and if to the Company, shall be delivered to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Kazia Therapeutics Limited </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">300
Barangaroo Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Sydney, NSW, 2000, Australia </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attention: James Garner </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email:
James.Garner@kaziatherapeutics.com </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">With a copy to: Karen Krumeich (Karen.Krumeich@kaziatherapeutics.com) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy (which shall not constitute notice) to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Goodwin Procter LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">100 Northern
Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Boston, MA 02210 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attention: Rob Puopolo </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email:
(617) <FONT STYLE="white-space:nowrap">570-1000</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each party may change such address for notices by sending to the other party to
this Agreement written notice of a new address for such purpose. Each such notice or other communication shall be deemed given (i)&nbsp;when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before 4:30
p.m., New York City time, on a </P>
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Business Day or, if such day is not a Business Day, on the next succeeding Business Day, (ii)&nbsp;on the next Business Day after timely delivery to a nationally-recognized overnight courier and
(iii)&nbsp;on the Business Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, &#147;<B><U>Business Day</U></B>&#148; shall mean any day on
which the ASX, Exchange or commercial banks in the City of New York, New York and Sydney, Australia are open for business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">An electronic
communication (&#147;<B><U>Electronic Notice</U></B>&#148;) shall be deemed written notice for purposes of this <U>Section</U><U></U><U>&nbsp;12</U> if sent to the electronic mail address specified by the receiving party under separate cover.
Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives confirmation of receipt by the receiving party (other than pursuant to auto-reply). Any party receiving Electronic Notice may request and shall be
entitled to receive the notice on paper, in a nonelectronic form (&#147;<B><U>Nonelectronic Notice</U></B>&#148;) which shall be sent to the requesting party within ten (10)&nbsp;days of receipt of the written request for Nonelectronic Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <U>Successors and Assigns</U>. This Agreement shall inure to the benefit of and be binding upon the Company and the Sales Agent and their
respective successors and permitted assigns and, as to <U>Sections</U><U></U><U>&nbsp;5(b)</U> and <U>9</U>, the other indemnified parties specified therein. References to any of the parties contained in this Agreement shall be deemed to include the
successors and permitted assigns of such party. Nothing in this Agreement, express or implied, is intended to confer upon any other person any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly
provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; <I>provided</I>, <I>however</I>, that the Sales Agent may assign its rights and obligations
hereunder to an affiliate of the Sales Agent without obtaining the Company&#146;s consent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. <U>Adjustments for Share Splits</U>. The
parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into account any share split, share dividend or similar event effected with respect to the Placement ADSs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. <U>Entire Agreement; Amendment; Severability</U>. This Agreement (including all schedules and exhibits attached hereto and Placement
Notices issued pursuant hereto) and any other writing entered into by the parties relating to this Agreement constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral,
among the parties hereto with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Sales Agent. In the event that any one or more of
the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest
possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that
giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. <U>Applicable Law; Consent to Jurisdiction</U>. This Agreement shall be governed by, and
construed in accordance with, the internal laws of the State of New York, without regard to the principles of conflicts of laws. Each party hereby irrevocably submits to the <FONT STYLE="white-space:nowrap">non-exclusive</FONT> jurisdiction of the
state and federal courts sitting in the City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return receipt requested) to such party at the
address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. <U>Waiver of Jury Trial</U>. The Company and the Sales Agent each hereby irrevocably waives any right
it may have to a trial by jury in respect of any claim based upon or arising out of this Agreement or any transaction contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Sales Agent is acting solely as agent in connection with the sale of the Placement ADSs contemplated by this Agreement and the process
leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, shareholders (or other equity holders), creditors or employees or any other party, on the one hand, and the Sales Agent,
on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether the Sales Agent has advised or is advising the Company on other matters, and the Sales Agent has no
obligation to the Company with respect to the transactions contemplated by this Agreement, except the obligations expressly set forth in this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Company is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions
contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Sales Agent has not provided any legal, accounting, regulatory or tax advice with respect to the
transactions contemplated by this Agreement, and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the Company has been advised and is aware that the Sales Agent and its affiliates are engaged in a broad range of transactions which may
involve interests that differ from those of the Company and that the Sales Agent has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the Company waives, to the fullest extent permitted by law, any claims it may have against the Sales Agent, for breach of fiduciary duty
or alleged breach of fiduciary duty in connection with the transactions contemplated hereunder and agrees that the Sales Agent shall have no liability (whether direct or indirect, in contract, tort or otherwise) to the Company in respect of such a
fiduciary claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company, including shareholders, partners, employees or creditors of the Company. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19. <U>Use of Information</U>. The Sales Agent may not provide any information gained in
connection with this Agreement and the transactions contemplated by this Agreement, including due diligence, to any third party other than its legal counsel advising it on this Agreement unless expressly approved by the Company in writing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile transmission or by electronic delivery of a portable document format (PDF) file (including any
electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g. www.docusign.com). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21. <U>Effect of Headings; Knowledge of the Company</U>. The section and Exhibit headings herein are for convenience only and shall not affect
the construction hereof. All references in this Agreement to the &#147;knowledge of the Company&#148; or the &#147;Company&#146;s knowledge&#148; or similar qualifiers shall mean the actual knowledge of the directors and officers of the Company,
after due inquiry. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22. <U>Definitions</U>. As used in this Agreement, the following term has the meaning set forth below: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) &#147;<B><U>Applicable Tim</U></B><U>e</U>&#148; means the date of this Agreement, each Representation Date, each date on which a Placement
Notice is given, each Point of Sale, and each Settlement Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[Remainder of Page Intentionally Blank] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>

</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing correctly sets forth the understanding between the Company and the Sales
Agent, please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and the Sales Agent. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>KAZIA THERAPEUTICS LIMITED ACN</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>063 259 754</B> in accordance with section 127 of</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">the <I>Corporations Act 2001</I> (Cth)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ James Stuart Garner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: James Stuart Garner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Director</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Karen Ruth Krumeich</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Karen Ruth Krumeich</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>ACCEPTED as of the date first-above written:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>OPPENHEIMER&nbsp;&amp; CO. INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Michael A. Margolis, R.Ph.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Michael A. Margolis, R.Ph.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Senior Managing Director,</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Co-Head of Healthcare Investment Banking</TD></TR>
</TABLE></DIV>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>SCHEDULE 1 </U></B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>FORM OF PLACEMENT NOTICE </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Kazia Therapeutics Limited</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Oppenheimer&nbsp;&amp; Co., Inc. Attention:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Subject:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">At-The-Market</FONT></FONT> Offering&#151;Placement Notice</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the
terms and subject to the conditions contained in the Equity Distribution Agreement between Kazia Therapeutics Limited, an Australian public company limited by shares (the &#147;<U>Company</U>&#148;), and Oppenheimer&nbsp;&amp; Co., Inc. (the
&#147;<U>Sales Agent</U>&#148;) dated April 22, 2022 (the &#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that the Sales Agent sell up to [___] American Depositary Shares, each representing ten ordinary shares, no par value
per share, of the Company at a minimum market price of $[_______] per American Depositary Share, during the period beginning [MONTH/DAY/TIME] and ending [MONTH/DAY/TIME]. </P>
</DIV></Center>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>SCHEDULE 2 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Notice Parties </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Kazia
Therapeutics Limited </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">James Garner (Email: James.Garner@kaziatherapeutics.com) </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Karen Krumeich (Email: Karen.Krumeich@kaziatherapeutics.com) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Oppenheimer&nbsp;&amp; Co. Inc. </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Email: <FONT
STYLE="white-space:nowrap">DL-EquityATMOffering@opco.com</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">With a copy to: IKBlumenthal@mintz.com </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>SCHEDULE 3 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Compensation </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sales Agent
shall be paid compensation equal to 3.0% of the gross proceeds from the sales of Placement ADSs pursuant to the terms of this Agreement and shall be reimbursed for certain expenses in accordance with Section&nbsp;7(g) of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing rate of compensation shall not apply when the Sales Agent acts as principal, in which case the Company may sell the Placement ADSs to the Sales
Agent as principal at a price agreed upon at the relevant Point of Sale pursuant to the applicable Placement Notice. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>SCHEDULE 4 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Schedule of Subsidiaries </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kazia
Laboratories Pty Limited </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kazia Research Pty Limited </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kazia
Therapeutics Inc. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Glioblast Pty Limited </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT 7(m) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>SCHEDULE 5 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Information Provided By Sales Agent </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The parties acknowledge and agree that, for purposes of Sections 6(b) and 9 of this Agreement, there is no information provided by the Sales
Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information in this Schedule shall be updated from time to time in connection with the filing of a new Prospectus or otherwise
as necessary. </P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>FORM OF OFFICER CERTIFICATE </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>The undersigned, the duly qualified and appointed _____________________ of </I><B><I>Kazia Therapeutics Limited</I></B><I>, an Australian
public company limited by shares (the &#147;</I><B><I><U>Company</U></I></B><I>&#148;), does hereby certify in such capacity and on behalf of the Company, pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U> of the Equity Distribution Agreement, dated
April 22, 2022 (the &#147;</I><B><I><U>Equity Distribution Agreement</U></I></B><I>&#148;), between the Company and Oppenheimer&nbsp;&amp; Co. Inc., that: </I></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the representations and warranties of the Company in <U>Section</U><U></U><U>&nbsp;6</U> of the Equity
Distribution Agreement (A)&nbsp;to the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Change, are true and correct on and as of the date hereof
with the same force and effect as if expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent
such representations and warranties are not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made
on and as of the date hereof except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Company has complied with all agreements and satisfied all conditions on its part to be performed or
satisfied pursuant to the Equity Distribution Agreement at or prior to the date hereof; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">as of the date hereof, (i)&nbsp;the Registration Statement does not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading, (ii)&nbsp;the Prospectus does not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading and (iii)&nbsp;no event has occurred as a result of which it is necessary to amend or
supplement the Registration Statement or the Prospectus in order to make the statements therein not untrue or misleading for clauses (i)&nbsp;and (ii) above, respectively, to be true and correct; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">there has been no Material Adverse Change since the date as of which information is given in the Prospectus, as
amended or supplemented; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Company does not possess any material <FONT STYLE="white-space:nowrap">non-public</FONT> information; and
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the aggregate offering price of the Placement ADSs that may be issued and sold pursuant to the Equity
Distribution Agreement and the maximum number or amount of Placement ADSs and underlying Ordinary Shares that may be sold pursuant to the Equity Distribution Agreement have been duly authorized by the Company&#146;s board of directors or a duly
authorized committee thereof. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Terms used herein and not defined herein have the meanings ascribed to them in the Equity Distribution
Agreement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Date:
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Baker&nbsp;&amp; McKenzie</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">ABN 32 266 778
912</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Tower One&#151;International Towers Sydney <BR>Level&nbsp;46, 100 Barangaroo
Avenue <BR>Barangaroo NSW 2000 <BR>Australia</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">P.O. Box R126 <BR>Royal Exchange NSW
1225 <BR>Australia</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Tel: +61 2 9225 0200</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Fax: +61 2 9225 1595</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">DX: 218 SYDNEY</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman">www.bakermckenzie.com</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Asia Pacific</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Bangkok</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Beijing</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Brisbane</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Hanoi</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Ho Chi Minh City</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Hong Kong</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Jakarta</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Kuala Lumpur*</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Manila*</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Melbourne</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Seoul</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Shanghai</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Singapore</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Sydney</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Taipei</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Tokyo</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Yangon</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Europe, Middle East&nbsp;&amp; Africa</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Abu Dhabi</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Almaty</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Amsterdam</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Antwerp</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Bahrain</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Barcelona</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Berlin</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Brussels</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Budapest</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Cairo</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Casablanca</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Doha</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Dubai</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Dusseldorf</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Frankfurt/Main</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Geneva</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Istanbul</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Jeddah*</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Johannesburg</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Kyiv</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">London</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Luxembourg</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Madrid</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Milan</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Moscow</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Munich</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Paris</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Prague</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Riyadh*</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Rome</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">St. Petersburg</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Stockholm</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Vienna</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Warsaw</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Zurich</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>The Americas</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Bogota</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Brasilia**</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Buenos Aires</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Caracas</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Chicago</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Dallas</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Guadalajara</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Houston</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Juarez</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Lima</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Los Angeles</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Mexico City</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Miami</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Monterrey</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">New York</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Palo Alto</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Porto Alegre**</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Rio de Janeiro**</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">San Francisco</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Santiago</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Sao Paulo**</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Tijuana</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Toronto</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Washington, DC</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">* Associated Firm</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman">** In cooperation with Trench, Rossi&nbsp;e
Watanabe Advogados</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">22 April 2022</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Directors</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kazia Therapeutics Limited</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Three International Towers <BR></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Level&nbsp;24, 300 Barangaroo Ave
<BR></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SYDNEY NSW 2000</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Directors</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kazia Therapeutics Limited&#151; Prospectus Supplement to Registration Statement on Form <FONT STYLE="white-space:nowrap">F-3</FONT></B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have acted as Australian legal counsel to Kazia Therapeutics Limited ACN 063 259 754
(<B>Company</B>), a public company limited by shares incorporated under the laws of the Commonwealth of Australia, in connection with its filing with the U.S. Securities and Exchange Commission (<B>Commission</B>) of a prospectus supplement
(<B>Prospectus Supplement</B>) dated 22 April 2022 to a prospectus (<B>Base Prospectus</B>) that was filed with the Commission on 1&nbsp;September 2021 as part of a registration statement on Form <FONT STYLE="white-space:nowrap">F-3</FONT> (File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-259224)</FONT> (<B>Registration Statement</B>) filed under the U.S. Securities Act of 1933, as amended (<B>Securities Act</B>).</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Prospectus Supplement relates to the Company&#146;s &#147;at the market offering&#148; of American Depository Shares (<B>ADSs</B>), each representing ten
fully paid ordinary shares in the capital of the Company (<B>Shares</B>), from time to time, up to an aggregate offering price of USD35,000,000, at prices and on terms to be determined by market conditions at the time of any such offering
(<B>Offering</B>). The USD35,000,000 of ADSs offered under the Prospectus Supplement is included in the aggregate offering price of USD100,000,000 under the Base Prospectus.</P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman"><B>1.&#8195;&#8201;Documents examined</B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">1.1&#8194;&#8201;For the purposes of this opinion, we have examined and relied on copies of the following
documents:</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">(a)&#8194;&#8201;&#8202;the
Registration Statement;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">(b)&#8194;&#8201;&#8202;the Base Prospectus;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">(c)&#8194;&#8201;&#8202;the Prospectus Supplement; and</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">(d)&#8194;&#8201;&#8202;the Constitution of the
Company certified by the Company to be true, complete and up to date as of 22&nbsp;April 2022 (<B>Constitution</B>).</P></TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Baker &amp; McKenzie, an
Australian Partnership, is a member of Baker &amp; McKenzie International. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have also examined and relied upon a certificate, dated the date hereof, of the Company Secretary of the
Company certifying the accuracy and completeness of the Constitution of the Company and minutes of a meeting of the Board of Directors of the Company dated 20&nbsp;April 2022. We have also examined such other documents and made such enquiries as to
questions of law as we have deemed relevant and necessary in order to render the opinions set forth below. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Searches </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.1</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">We have relied on the information that is available to the public in extract form in relation to the Company
from the companies register maintained by the Australian Securities and Investments Commission (<B>ASIC</B>) on 22 April 2022 at 9:23 a.m. (Sydney time). </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.2</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">We have not made any other searches for the purposes of giving this opinion. </P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Assumptions </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.1</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">For the purpose of the opinions expressed herein, we have assumed: </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the genuineness of all signatures and the authenticity of all documents, instruments and certificates submitted
to us as originals and the exact conformity with the authentic originals of all documents, instruments and certificates submitted to us as copies or forms or originals; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">all documents, instruments and certificates submitted to us have not been modified, amended or terminated by
subsequent actions or agreements of which we are not aware; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that each party to each document (including the Distribution Agreement, as defined in the Prospectus
Supplement) has all the requisite power and authority (corporate and otherwise) to execute and deliver and perform its obligations thereunder (other than with respect to the Company to the extent expressly set forth in paragraph 5.1(b) below);
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any facts which may give reason to question the validity, continuing effectiveness or lawfulness of any
document or instrument have been drawn to our attention; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">all matters of internal management required by the constitution of each of the parties to the relevant
documents (other than the Company) have been duly attended to (including, without limitation, the holding of properly constituted meetings of the boards of directors of each of those parties and the passing at those meetings of appropriate
resolutions); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any documents which purport to be governed by the law of any jurisdiction other than the laws of the
Commonwealth of Australia are legal, valid and binding obligations of all parties to those documents and none of the execution, delivery or performance of any document by any party to the document violates or contravenes or is rendered invalid, not
binding or unenforceable under any applicable law under any jurisdiction other than the laws of the Commonwealth of Australia; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g336386g0421091950731.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Company will not engage in fraudulent or unconscionable conduct or conduct which is misleading or deceptive
or which is likely to mislead or deceive (including by way of omission) in relation to any issuance or sale of ADSs or the issuance of the Shares underlying those ADSs; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(h)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">there is no bad faith, fraud, undue influence, coercion or duress or similar conduct on the part of the Company
in relation to any issuance or sale of ADSs or the issuance of the Shares underlying those ADSs under the Registration Statement, the Base Prospectus or the Prospectus Supplement; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">all information provided to us by or on behalf of officers of the Company was true, correct and complete when
provided and remains so at the date of this letter, containing all information required, without us making any separate enquiry or investigation other than viewing and undertaking a search of the companies register maintained by ASIC as noted in
paragraph 2.1, in order for us to provide this opinion; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(j)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Company is and will be able to pay its debts as and when they fall due and is otherwise solvent as at the
time any ADSs are issued or sold or any Shares underlying those ADSs are issued; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(k)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the details revealed by our search of the companies register maintained by ASIC is current at the date of that
search. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.2</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The fact that the above assumptions have been made does not imply that we have made any inquiry to verify them.
However, nothing has come to our attention in the course of our involvement in the Offering which has caused us to believe, and we do not believe, that any of these assumptions are incorrect. </P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Qualifications </B></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.1</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Our opinions expressed in this opinion are subject to the following qualifications: </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">we have acted and been involved only in our capacity as Australian legal counsel to the Company as described in
this opinion. We express no opinion as to the impact or relevance of the laws of any other jurisdiction; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">we express no opinion on the business, operational, commercial, market-related, financial, accounting,
insurance, superannuation or taxation matters referred to in the Prospectus Supplement; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Registration Statement, and any amendments thereto (including all necessary post-effective amendments),
will remain effective under the Securities Act at the time of the Offering; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Prospectus Supplement with respect to the Offering has been prepared, delivered and timely filed with the
Commission in compliance with the Securities Act and the applicable rules and regulations thereunder; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g336386g0421091950731.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the agreed upon consideration being received for the issue of the ADSs; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the aggregate offering price for all issues of ADSs made pursuant to the Company&#146;s &#147;at the market
offering&#148; as contemplated by the Prospectus Supplement not exceeding USD35,000,000; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the terms of the issuance and sale of the ADSs being in conformity with the Constitution, the <I>Corporations
Act 2001 </I>(Cth) (<B>Corporations Act</B>) and the listing rules of the Australian Securities Exchange, and in the manner stated in the Registration Statement, the Base Prospectus and the Prospectus Supplement, so as not to violate any applicable
law or result in a default under or breach of any agreement or instrument binding upon the Company, and so as to comply with any requirement or restriction imposed by any court or governmental body having jurisdiction over the Company; and
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(h)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the statements made and opinions given in this opinion are based on the knowledge of those partners and
solicitors of Baker&nbsp;&amp; McKenzie who have acted for the Company in connection with the Offering. We have not made inquiries of other partners or solicitors of Baker&nbsp;&amp; McKenzie who may have knowledge acquired in the course of acting
on other matters for the Company or for other clients of the firm. </P></TD></TR></TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Opinion </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.1</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Subject to the assumptions and qualifications set out in this opinion, we are of the opinion:
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Company is duly incorporated and validly existing under the laws of the Commonwealth of Australia and in
good standing (as such term is not defined under the Corporations Act, meaning solely that there are no current orders for the winding up of, or appointment of a receiver or liquidator for the Company or any notice of its proposed deregistration);
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the issue of the ADSs and the Shares underlying those ADSs as contemplated under the Prospectus Supplement has
been duly authorised; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Shares underlying the ADSs, when issued and paid for in accordance with the Distribution Agreement, as
contemplated in the Prospectus Supplement, will be validly issued, fully paid and <FONT STYLE="white-space:nowrap">&#147;non-assessable&#148;</FONT> (for the purposes of this opinion, the term
<FONT STYLE="white-space:nowrap">&#147;non-assessable&#148;</FONT> when used to describe the liability of a person as the registered holder of ordinary shares is not a concept known under the laws of the Commonwealth of Australia, so we have assumed
those words to mean that holders of such ordinary shares, having fully paid all amounts due on the issue of such ordinary shares, are under no personal liability under the Corporations Act to contribute to the assets and liabilities of the Company
on a winding up of the Company or subject to any call for payment of further capital in their capacity solely as holders of such ordinary shares). </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g336386g0421091950731.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>6.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Applicability </B></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.1</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">We consent to the use of this opinion as an exhibit to a Current Report on Form
<FONT STYLE="white-space:nowrap">6-K</FONT> and to the use of our name under the caption &#147;Legal Matters&#148; in the Prospectus Supplement. In giving this consent, we do not admit that we come within the category of persons whose consent is
required under Section&nbsp;7 of the Securities Act or the rules and regulations of the Commission promulgated under that Act. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.2</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This opinion is given in respect of the laws of New South Wales and the Commonwealth of Australia which are in
force at 9:00 am (Sydney time). We have not investigated and do not express any view about, any law other than that of Australia. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.3</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This opinion is limited to the matters stated herein, and no opinion is implied or may be inferred beyond the
matters expressly stated. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.4</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This opinion is deemed to be given as of the date of this letter and will speak as at such date. We do not
undertake any obligation to advise you of any changes (including but not limited to any subsequently enacted, published or reported laws, regulations or binding authority) that may occur or come to our attention after the date of this letter which
may affect our opinion. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.5</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This opinion is given only on behalf of Baker&nbsp;&amp; McKenzie, an Australian partnership, and not on behalf
of any other member firm of Baker&nbsp;&amp; McKenzie International. In this opinion, &#147;Baker&nbsp;&amp; McKenzie&#148;, &#147;we&#148;, &#147;us&#148;, &#147;our&#148; and like expressions should be construed accordingly. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Yours sincerely</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Baker &amp; McKenzie </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BAKER
&amp; MCKENZIE </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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