Any proceeds received by Mesoblast from the exercise of the Offer Securities is proposed
to be used for:
▪ investment in commercial supply of remestemcel-L ahead of potential approval for
graft versus host disease in children and in optimized manufacturing for larger
market opportunities;
▪ advancing manufacturing and development of rexlemestrocel-L platform to meet
commercial objectives for CHF and CLBP due to degenerative disc disease
following the recent completion of Phase 3 trials in these indications; and
Ann: Prospectus for Warrants Related to Oaktree Facility, page-5
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