Alterity Therapeutics : completes Placement Tranche 1 raising $10M

$25M Second Tranche to complete following shareholder approval

• Alterity completes Tranche 1 of Placement raising $10M
• Tranche 2 completes on 18^th November pending shareholder approval raising an additional $25M

Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) ('Alterity' or 'the Company') today lodged its Appendix 2A confirming the allocation and quotation of 271,251,007 shares as consideration under Tranche One of a $35M Placement to institutional investors. This first tranche raised $10M.

Alterity announced on 16^th October 2020 it had received binding commitments for a capital raising of A$35M via a two tranche placement to institutional investors in Australia, North America and United Kingdom, and other unrelated sophisticated, professional or exempt investors.

Tranche One of the Placement raised A$10M in accordance with the Company's available placement capacity pursuant to ASX Listing Rules 7.1 (162,750,604 shares) and 7.1A (108,500,403 shares), being a total of 271,251,007 shares. Tranche Two is to raise approximately A$25 M (674,694,939 shares and 1 for 1 free attaching options) conditional on shareholder approval to be sought at Alterity's Annual General Meeting which will be held on 18^th November 2020. The new shares rank equally with ATH fully paid ordinary shares.

The proceeds will enable Alterity to progress its clinical development program for ATH434 including a Natural History study and Phase 2 trial, both in Multiple System Atrophy (MSA) patients, ongoing research and discovery, and working capital.

The placement was managed by MST Financial with A.G.P./Alliance Global Partners acting as sole US Selling Agent.

An Appendix 2A containing further detail regarding the allocation and quotation of shares under Tranche One placement is being released in conjunction with this announcement.

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Authorization & Additional information
This announcement was authorized by Geoffrey Kempler, Chairman and CEO of Alterity Therapeutics Limited.

All dollar amounts are in Australian dollars unless otherwise indicated.