Ann: Trading Halt, page-25

At face value without knowing the detail this would appear to be a very good deal for Opthea. You have company that is prepared to stump in up to $170 million which if Opt-302 is not commercialised they will by all accounts have lost their dosh. In addition Carlyle is not doing to get any return on their investment for at least 3 years. Aside from inflation devaluing their return with a 7% licensing fee Opthea will have to have sales of close to $10 billion for the Carlyle to maximise it’s return on their investment and this is not going to happen overnight. As a shareholder if Opthea achieves earnings in the billions I will be a very happy man. In my opinion the Carlyle deal represents significant validation for Opthea. It will be interesting to see how the market reacts.