ILA AGM - Chris Ntoumenopoulos

Here's an email which I sent today.

Jason Carroll

Chairman

Island Pharmaceuticals Ltd

[email protected]

Henry Jordan

Six Degrees Investor Relations

[email protected]

Dear Jason

I believe that it would be in the best interests of shareholders if Chris Ntoumenopoulos didn’t stand for re-election as a Director of Island Pharmaceuticals.

My reasoning is as follows:

1. As far as I'm aware, Chris has no qualifications in either science or medicine. I'm happy to be corrected if that's mistaken.

2. Chris was a Director of Race Oncology at a time that it had a near-death experience due to a failed strategy (the "named patient" strategy). Chris wouldn't have been solely responsible for that, but it certainly doesn't look good.

3. In my view, Chris behaved unethically at ILA during the October 2024 placement at 7c with attaching free one-year and two-year options at 7c. In my view, the fact that the then Chair allowed Chris to use his insider position to his own advantage do so is no excuse. I could give more details, but I think you are already fully aware of what happened and how Chris became the only person not in the consortium which approached ILA who was allowed to participate on the same terms.

4. In a telephone conversation which I had with Chris last year about these matters, he came across as condescending. I certainly don't want him to be representing me on the Board of any company in which I'm a shareholder.

Of course, if Chris does stand for re-election, I'll be voting against his re-election.

Yours sincerely

(Name supplied)