KZIA Kazia Therapeutics Ltd

ASX:NRT

NASDAQ:NVGN

Novogen Ltd

(Company)

ABN 37 063 259 754

Capital Structure

Ordinary Shares on issue:

429 M

Board of Directors

Mr John O’Connor

Chairman

Non-Executive Director

Mr Bryce Carmine

Deputy Chairman

Non-Executive Director

Dr James Garner

Chief Executive Officer

Managing Director

Mr Ian Phillips MNZM

Non-Executive Director

Mr Iain Ross

Non-Executive Director

Mr Steven Coffey

Non-Executive Director

MARKET RELEASE

14 September 2016

CONVERSION OF CONVERTIBLE NOTES

On 19 April 2013, the shareholders of NRT approved the issue of 60,000,000 convertible securities, with a face value of $1.5M, to the former securities holders of Triaxial Pharmaceuticals Pty Ltd. The conversions of the convertible notes are contingent upon three milestones, defined as follows:

•    on completion of Phase 1a clinical trial, which will occur upon the receipt by NRT of a signed study report: $400,000 converted into 16,000,000 ordinary shares in NRT;

•    on receipt of Investigational New Drug (IND) approval from the US Food and Drug Administration (FDA): $500,000 converted into 20,000,000 ordinary shares in NRT; and

•    on completion of Phase II clinical trial or achieving Breakthrough Designation. Completion will be deemed to occur upon the receipt by NRT of a signed study report or notification of the designation: $600,000 converted into 24,000,000 ordinary shares in NRT.

There is a possibility of an early conversion of the convertibles notes if a third party acquires more than 50% of the issued capital of NRT.

On 11 August, NRT announced the submission of an IND application with the FDA. On 10 September 2016 NRT received a letter from the FDA advising that the study may proceed. Accordingly, NRT advised the note holders of this conversion event and a resolution of the directors of NRT was passed on 14 September 2016 approving the issue of 20,000,000 ordinary shares to the note holders. The ordinary shares were issued on 14 September 2016.

[ENDS]

Media and Investor Relations

Investor Relations (US)

Glen Zurcher

E: glen.zurcher@irdepartment.com.au

T: +61 420 249 299

Robert Kennedy

E: robert.kennedy@novogen.com

T: +1 212 519 9832 / +1 646 662 3574