Phylogica : Appendix 3B application for listing

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities

and agreement

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

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12

Name of entity

PHYLOGICA LIMITED

ABN

48 098 391 961

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

ORDINARY SHARES

1 +Class of +securities issued or to be issued

375,000

1. Number of +securities issued or to be issued (if known) or maximum number which may be issued

   FULLY PAID

2. Principal terms of the

   +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

   +convertible securities, the conversion price and dates for conversion)

   + See chapter 19 for defined terms.

   01/08/2012 Appendix 3B Page 1

   YES

3. Do the +securities rank equally in all respects from the date of allotment with an existing

   +class of quoted +securities?

   If the additional securities do not rank equally, please state:

   • the date from which they do

   • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

   • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

     $0.025 PER SHARE

4. Issue price or consideration

   ISSUED ON THE EXERCISE OF UNLISTED OPTIONS PYCAJ

5. Purpose of the issue

   (If issued as consideration for the acquisition of assets, clearly identify those assets)

   YES

   6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

   If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

   25 NOVEMBER 2016

   6b The date the security holder resolution under rule 7.1A was passed

   NIL

   6c Number of +securities issued without security holder approval under rule 7.1

   NIL

   6d Number of +securities issued with security holder approval under rule 7.1A

   NIL

   6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

   375,000 ORDINARY SHARES

   6f Number of securities issued

   EXCEPTION 4

   under an exception in rule 7.2

   N/A

   6g If securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the issue date and both values. Include the source of the VWAP calculation.

   N/A

   6h If securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

   7.1 REMAINING 15%: 299,212,060

   7.1A REMAINING 10%: 199,474,706

   6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

   25 MAY 2017

6. Dates of entering +securities into uncertificated holdings or despatch of certificates

   Number	+Class
   1,994,747,067	Ordinary Shares
   Number	+Class
   21,318,750	PYCAJ Options
   23/09/17 $0.025
   6,666,667	PYCAA Unlisted
   Options 30/11/19 $Nil
   20,000,000	PYCAA Unlisted
   	Options
   	30/06/18 $Nil

7. Number and +class of all

   +securities quoted on ASX (including the securities in section 2 if applicable)

8. Number and +class of all

   +securities not quoted on ASX (including the securities in section 2 if applicable)

   NOT APPLICABLE

9. Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

   Part 2 - Bonus issue or pro rata issue

10. Is security holder approval required?

11. Is the issue renounceable or non- renounceable?

12. Ratio in which the +securities will be offered

+ See chapter 19 for defined terms.

01/08/2012 Appendix 3B Page 3

14 +Class of +securities to which the offer relates

15 +Record date to determine entitlements

1. Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

2. Policy for deciding entitlements in relation to fractions

3. Names of countries in which the entity has +security holders who will not be sent new issue documents

   Note: Security holders must be told how their entitlements are to be dealt with.

   Cross reference: rule 7.7.

4. Closing date for receipt of acceptances or renunciations

5. Names of any underwriters

6. Amount of any underwriting fee or commission

7. Names of any brokers to the issue

8. Fee or commission payable to the broker to the issue

9. Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of +security holders

10. If the issue is contingent on

    +security holders' approval, the date of the meeting

11. Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled

12. If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

13. Date rights trading will begin (if applicable)