CORRECTING and REPLACING Exonate Appoints Dr Rafiq Hasan as Non-Executive Director

Please replace the release with the following corrected version due to multiple revisions in the third paragraph.

The updated release reads:

EXONATE APPOINTS DR RAFIQ HASAN AS NON-EXECUTIVE DIRECTOR

Appointment brings extensive experience in global pharma leadership and progressing ophthalmology drugs to market and further strengthens Board

Exonate Ltd., a biotechnology company developing novel, non-invasive, small-molecule therapeutics for patients with retinal vascular diseases, today announced the expansion of its Board with the appointment of Dr Rafiq Hasan as Non-Executive Director. Rafiq brings extensive expertise in ophthalmology, specifically within the diabetic eye disease sector, from his years in global pharmaceutical businesses. The appointment further strengthens the Board of Directors as the Company continues to develop its lead candidate for diabetic eye disease, EXN407, toward Phase IIb clinical trials.

Rafiq has a proven record of success in the global pharmaceutical industry and is currently CEO of Complement Therapeutics, which focuses on developing next-generation complement medicines. In addition to his role at Complement, Rafiq holds Board and advisory roles at Oxular and BioGeneration Ventures. Previous leadership roles within the ophthalmology sector have included Senior Vice President and Global Head of Ophthalmology at Bayer, where he oversaw the launch of Eylea^® for five indications within three years, and from launch to >$2.5 billion in five years.

Exonate's lead candidate EXN407, small molecule SRPK1 inhibitor, is in development as a world first topical therapy for diabetic eye diseases such as diabetic retinopathy. Exonate plans to progress EXN407 to a CLEAR-DE (CLinical Evaluation of a novel eyedrop for Alleviating Retinopathy in Diabetic Eye disease) Phase IIb clinical trial in 2024.

Catherine Beech, CEO, Exonate, said: "We're pleased to welcome Dr Hasan to Exonate's Board as Non-Executive Director. Rafiq's years of expertise in diabetic eye disease, as well as treatment strategies across all stages of eye disease progression, will be invaluable to Exonate as we continue to develop our lead candidate through the clinic."

Dr Rafiq Hasan, Non-Executive Director, Exonate, commented: "Exonate's lead candidate is extremely promising, with the potential to transform treatments options for diabetic eye disease by alleviating the need for repeated, invasive injections into the eye. I look forward to working with Catherine and the team to help guide the Company's continued success."

To stay up to date on Exonate's pipeline, visit: https://www.exonate.com/