Ann: Half-year Shareholder Update, page-2

Wow. What an update!!! Excellent.

Recent Cap Raising
It also enabled us to increase Institutional shareholdings to approximately one third of the share register, up from only 5% six months
ago. We are pleased that new institutional investors came from four different countries, which is a positive step in the evolution of our share register.

1) t is very frustrating for all stakeholders, not least the patients and their families, that the unprecedented
COVID-19 pandemic arrived during this highly anticipated trial, causing travel restrictions and safety
risks. After ending a 3 month pause in enrolment in June 2020, I am confident that ACADIA is taking all
appropriate measures, working with each trial site individually to get the best outcome. I also remain
confident about the potential impact of trofinetide on this devastating condition, having experienced the
two clinical trials that Neuren conducted in girls and women with Rett syndrome.
2) we have started discussions with national regulatory authorities in Europe.
3) NNZ2591- the Phase 1 trial to characterize safety and PK in healthy volunteers is continuing
in Western Australia, and we are evaluating alternative designs for the Phase 2 trials. We will provide
updates on all of these in due course.
4) will conclude by noting that there are very few companies on the ASX with an ongoing single Phase 3
trial fully funded by a partner and four other programs either in or soon to start Phase 2. All five are
serious conditions in children with no approved medicines.