Annexure A - Option Terms and ConditionsEach option specified in this certificate (New Options) entitles the holder (Option Holder) tosubscribe for and be issued one fully paid ordinary share (Share) in OncoSil Medical Limited ACN113 824 141 (Company) on the following terms:1. Subject to clause 2 below and also any restrictions imposed by the ASX Limited (ASX), eachOption is exercisable at any time until and including their expiry date, namely 5pm on 30 April2027 (Expiry Date). Any New Options not exercised by the Expiry Date will automaticallylapse at 5pm (AEDT) on the Expiry Date.2. The New Options may be exercised for part or all of the New Options by the Option Holdergiving written notice (Notice of Exercise) to the Company at its registered office prior to theExpiry Date together with payment in full of the exercise price of $0.03 per Share (ExercisePrice).3. A Notice of Exercise with payment of the Exercise Price may be given at any time but theCompany will only issue resulting Shares on exercise on the trading day next following:31 May 2023, 31 August 2023, 30 November 2023, 28 February 2024, 31 May 2024, 31August 2024, 30 November 2024, 28 February 2025, 31 May 2025, 31 August 2025, 30November 2025, 28 February 2026, 31 May 2026, 31 August 2026, 30 November 2026, 28February 2027, 30 April 2027.4. On issue of the Shares from exercise of an Option, the Company must seek quotation on orbefore the date of issue, quotation of the resulting Shares under the ASX Listing Rules (ASXListing Rules) anda) allot to the Option Holder one Share in the Company for each Option exercised by theOption Holder;(b) cause to be despatched to the Option Holder the relevant acknowledgement of issue,a holding statement or share certificate (as applicable) as soon as is reasonablypracticable detailing the issue of the relevant Share/s; and(c) issue (if applicable) a new holding statement (or option certificate) for the balance ofthe New Options that remain unexercised.5. Shares allotted on the exercise of New Options will rank equally in all respects with the thenexisting issued ordinary fully paid shares in the capital of the Company (except in respect toany dividends which shall have been declared but not yet distributed before the actualexercise of an Option) and will be subject to the provisions of the Constitution of the Company.6. The New Options are transferable by an Option Holder on market in accordance with the ASXListing Rules (so long as the Options are quoted on the ASX), and if not quoted on the ASX,by written notice to the Company.7. If any reorganisation (including consolidation, subdivision, reduction, return or cancellation)of the issued capital of the Company occurs before the expiry of any New Options, the numberof New Options to which each Option Holder is entitled or the Exercise Price of his or herNew Options or both must be reorganised in accordance with the ASX Listing Rules applyingto a reorganisation at the time of the reorganisation (which adjustment formula will apply evenwhere the Company is not admitted to the ASX Official List).8. An Option does not confer the right to participate in new issues of capital offered to holdersof Shares (Rights Entitlement) during the currency of the New Options without exercisingthe New Options. However, the Company will use reasonable endeavours to procure that forthe purpose of determining Rights Entitlements to any such issue, the Option Holder is toreceive at least 2 days written notice from the Company of the pending closing or record dateand sufficient time for the Option Holder to exercise the New Options prior to that closing orrecord date in order to qualify for the participation in the Rights Entitlem
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a) allot to the Option Holder one Share in the Company for each Option exercised by theOption Holder;(b) cause to be despatched to the Option Holder the relevant acknowledgement of issue,a holding statement or share certificate (as applicable) as soon as is reasonablypracticable detailing the issue of the relevant Share/s; and(c) issue (if applicable) a new holding statement (or option certificate) for the balance ofthe New Options that remain unexercised.5. Shares allotted on the exercise of New Options will rank equally in all respects with the thenexisting issued ordinary fully paid shares in the capital of the Company (except in respect toany dividends which shall have been declared but not yet distributed before the actualexercise of an Option) and will be subject to the provisions of the Constitution of the Company.6. The New Options are transferable by an Option Holder on market in accordance with the ASXListing Rules (so long as the Options are quoted on the ASX), and if not quoted on the ASX,by written notice to the Company.7. If any reorganisation (including consolidation, subdivision, reduction, return or cancellation)of the issued capital of the Company occurs before the expiry of any New Options, the numberof New Options to which each Option Holder is entitled or the Exercise Price of his or herNew Options or both must be reorganised in accordance with the ASX Listing Rules applyingto a reorganisation at the time of the reorganisation (which adjustment formula will apply evenwhere the Company is not admitted to the ASX Official List).8. An Option does not confer the right to participate in new issues of capital offered to holdersof Shares (Rights Entitlement) during the currency of the New Options without exercisingthe New Options. However, the Company will use reasonable endeavours to procure that forthe purpose of determining Rights Entitlements to any such issue, the Option Holder is toreceive at least 2 days written notice from the Company of the pending closing or record dateand sufficient time for the Option Holder to exercise the New Options prior to that closing orrecord date in order to qualify for the participation in the Rights Entitlem
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