Rhinomed : Despatch of Retail Offer Booklet

ASX ANNOUNCEMENT

Not for release to U.S. wire services or distribution in the United States

Retail Entitlement Offer Commences

13 April 2022: Melbourne, Australia.

Despatch of Retail Entitlement Offer Booklet

Rhinomed Limited (Rhinomed) (ASX:RNO) advises that the Retail Offer Booklet and personalised Entitlement and Acceptance Forms for the retail component of the 1 for 9.87 accelerated pro rata non-renounceable entitlement offer (Retail Entitlement Offer), has now been despatched to shareholders who are eligible to participate in the Retail Entitlement Offer (Eligible Retail Shareholders). A copy is enclosed with this announcement.

Unless specified otherwise, terms defined in the Retail Offer Booklet have the same meaning in this announcement.

Eligible Retail Shareholders can access details of the Retail Entitlement Offer, a copy of the Retail Offer Booklet and apply online at the following website:

https://investor.automic.com.au

Rhinomed encourages Eligible Retail Shareholders who wish to participate in the Retail Entitlement Offer to act promptly in submitting their Entitlement and Acceptance Form. The Retail Entitlement Offer closes at 5.00pm (AEST) on Friday, 29 April 2022 (unless extended).

Each Eligible Retail Shareholder's personalised Entitlement and Acceptance Form contains details of that Eligible Retail Shareholder's Entitlement and should be completed in accordance with the instructions provided on the form, and the instruction in the Retail Offer Booklet under "Section 2 - How To Apply".

To participate, Eligible Retail Shareholders must ensure that they have completed their application and paid Application Monies by BPAY®, or by lodging a completed Entitlement and Acceptance Form with payment by EFT, so that these are received by Automic (Rhinomed's registry provided) before 5.00pm (AEST) on Friday, 29 April 2022.

Eligible Retail Shareholders are encouraged to carefully read the Retail Offer Booklet for further details relating to the Retail Entitlement Offer.

A letter to Ineligible Shareholders notifying them of the Retail Entitlement Offer and their ineligibility to participate has also been sent.

Further information

Further information regarding the Institutional Entitlement Offer is contained in the investor presentation released to the ASX on 7 April 2022 (Investor Presentation).

Eligible Retail Shareholders with questions about the Retail Entitlement Offer should call Rhinomed's Offer Information Line on 1300 288 664 or [phone] between 8.30am and 5.00pm (AEST), Monday to Friday during the retail offer period (13 April 2022 to 29 April 2022).

Nothing in this announcement, the Retail Offer Booklet or the Investor Presentation constitutes legal, tax or other advice. You should seek appropriate professional advice before making any investment decision.

All dollar amounts are in Australian dollars unless otherwise indicated.

Company	Investor and Media Relations
Michael Johnson, CEO & Director [phone] Follow us on Twitter @rhinomedceo	Rudi Michelson Monsoon Communications [phone]

About Rhinomed Limited (ASX: RNO, OTCQB:RHNMF)

Rhinomed Limited is a Melbourne, Australia based ASX listed nasal and airway technology company that has developed an innovative nasal technology platform that can improve air flow and provide both drug delivery and diagnostic capabilities.

Not an offer in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

Rhinomed Limited ACN 107 903 159

RETAIL ENTITLEMENT OFFER BOOKLET

This Retail Offer Booklet is being issued in relation to a pro-rata non-renounceable entitlement offer of 1 New Share for every 9.87 Shares held at an Issue Price of AUD $0.19 per New Share to raise up to approximately AUD $5 million (before costs).

The Retail Entitlement Offer closes at 5.00pm (Melbourne time) on Friday, 29 April 2022.*

The Retail Entitlement Offer is not underwritten.

Important Notice

This document and the personalised Entitlement and Acceptance Form that accompanies it contains important information and requires your immediate attention. You should read both documents carefully and in their entirety.

This document is not a prospectus under the Corporations Act and has not been lodged with the Australian Securities and Investments Commission (ASIC).

If you have any queries please call your stockbroker, accountant or other professional adviser or Rhinomed's Offer Information Line on 1300 288 664 or [phone] between 8.30am and 5.00pm (Melbourne time), Monday to Friday during the Retail Offer Period (Wednesday, 13 April 2022 to Friday, 29 April 2022).

NOT FOR RELEASE TO U.S. WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES.

* Rhinomed reserves the right, subject to the Corporations Act and ASX Listing Rules to extend the Retail Closing Date for the Entitlement Offer.

Contents

IMPORTANT NOTICES

3

SUMMARY OF RETAIL ENTITLEMENT OFFER

5

KEY INFORMATION

5

KEY DATES

5

CHAIRMAN'S LETTER

7

WHAT SHOULD YOU DO?

9

SECTION 1 -OVERVIEW OF THE OFFER

11

SECTION 2 -HOW TO APPLY - ELIGIBLE RETAIL SHAREHOLDERS

18

SECTION 3 -TAXATION

20

SECTION 4 -IMPORTANT INFORMATION FOR SHAREHOLDERS

22

ELIGIBLE RETAIL SHAREHOLDER DECLARATIONS

27

GLOSSARY

29

CORPORATE DIRECTORY

31

ANNEXURE A - FIRST ASX ANNOUNCEMENT

32

ANNEXURE B - SECOND ASX ANNOUNCEMENT

33

ANNEXURE C - INVESTOR PRESENTATION

34

ANNEXURE D - ENTITLEMENT AND ACCEPTANCE FORM

35

Important Notices

This Retail Offer Booklet is dated 13 April 2022. Capitalised terms in this section have the meaning given to them in the Glossary.

This Retail Offer Booklet is not to be distributed in, and no offer of New Shares is to be made, in countries other than Australia and New Zealand.

This Retail Offer Booklet is issued by Rhinomed Limited (ACN 107 903 159) (Rhinomed).

This Retail Entitlement Offer is being made without a prospectus pursuant to section 708AA of the Corporations Act (as modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84) to Eligible Retail Shareholders with a registered address in Australia and New Zealand at 7.00pm (Melbourne time) on 11 April 2022 (Record Date). This Retail Offer Booklet does not contain all of the information which would be required to be disclosed in a prospectus. As a result, it is important for you to read and understand this Retail Offer Booklet in its entirety, along with the publicly available information on Rhinomed and the Entitlement Offer (for example, the information available on the ASX's websitewww.asx.com.au)prior to deciding whether to accept your Entitlement and apply for New Shares.

The Investor Presentation details important factors and risks that could affect the financial and operating performance of Rhinomed. Please refer to the "Key Risks" section of the Investor Presentation for details. When making an investment decision in connection with this Retail Entitlement Offer, it is essential that you consider these risk factors carefully in light of your individual personal circumstances, including financial and taxation issues (some of which have been outlined in Section 4.5 of this Retail Offer Booklet).

Investments in Rhinomed are subject to investment risk, including delays in repayment and loss of income and capital invested. Rhinomed does not guarantee any return or any particular rate of return on the New Shares offered under the Retail Entitlement Offer or the performance of Rhinomed, nor does it guarantee the repayment of capital from Rhinomed.

By returning an Entitlement and Acceptance Form or otherwise paying for your New Shares through BPAY® in accordance with the instructions on the Entitlement and Acceptance Form, you acknowledge that you have read this Retail Offer Booklet and you have acted in accordance with and agree to the terms of the Retail Entitlement Offer detailed in this Retail Offer Booklet.

No overseas offering

This Retail Offer Booklet, the accompanying Entitlement and Acceptance Form or any accompanying ASX announcement, do not constitute an offer or invitation in any place in which, or to any person to whom, it would not be lawful to make such an offer or invitation. In particular, this Retail Offer Booklet does not constitute an offer to Ineligible Shareholders.

No action has been taken to register or qualify the Retail Entitlement Offer, the Entitlements or the New Shares, or otherwise permit the public offering of the New Shares, in any jurisdiction other than Australia and New Zealand.

The distribution of this Retail Offer Booklet (including an electronic copy) outside Australia and New Zealand, is restricted by law. If you come into possession of the information in this Retail Offer Booklet, you should observe such restrictions and should seek your own advice on such restrictions. Any non-compliance with these restrictions may contravene applicable securities laws.

Foreign exchange control restrictions or restrictions on remitting funds from your country to Australia may apply. Your Application for New Shares is subject to all requisite authorities and clearances being obtained for Rhinomed to lawfully receive your Application Monies.

New Zealand

The New Shares are not being offered to the public within New Zealand other than to existing Shareholders of Rhinomed with registered addresses in New Zealand to whom the offer of these securities is being made in reliance on the Financial Markets Conduct (Incidental Offers) Exemption Notice 2021 (New Zealand).

This document has been prepared in compliance with Australian law and has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (New Zealand). This document is not a product disclosure statement under New Zealand law and is not required to, and may not, contain all the information that a product disclosure statement under New Zealand law is required to contain.

United States

This Retail Offer Booklet, any accompanying ASX announcement and the Entitlement and Acceptance Form, do not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The New Shares have not been, and will not be, registered under the US Securities Act and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws. The New Shares to be offered and sold in the Retail Entitlement Offer may only be offered and sold