Ann: Neuren presentation to Arrowhead TBI Confere, page-36

re: Ann: Neuren presentation to Arrowhead TBI... A reply from Mr Glass to a few questions I had:

Good to hear from you. I'll answer your questions as best I can given regulations on non-public disclosure which I'm sure you can appreciate.

1. I understand you recently attended a 2 day conference on TBI? Were there any key learnings impacting our company's products? For e.g. any learnings from the competing Progesterone trial/s?

I suppose there are two key observations from the conference. First, there's a lot of interest in NNZ-2566 as the only new drug (i.e., not approved for another indication) in clinical development for TBI and, in particular, interest in its mechanisms of action.

Second, most people seem to believe that eventual treatment for TBI will involve multiple drugs. Whether that means a cocktail or different drugs for different patients remains to be seen but there seems to be general agreement that one drug will not likely be the answer.

2. I note in your presentation at the above conference it was mentioned the NNZ-2566 Oral Phase I study was underway? Is this correct? The status at clinicaltrials.gov states the trial is not yet recruiting?

Yes, that's correct. The clinicaltrials.gov website has recently been updated.

3. Have recruitment rates for NNZ-2566 (IV) Phase II improved since 2011 and is the current status (particularly study completion dates) at clinicaltrials.gov based on current recruitment rates? Will actual numbers be reported in the upcoming Annual Report?

We'll provide an update in the annual report and/or at the annual meeting.

4. Has the Motiva trial recruited patients and will actual numbers be reported in the Annual Report?

We'll provide an update in the annual report and/or at the annual meeting.