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AUG 2012

"NuSep issued Luye with 6,000,000 shares in PrIME for this S$6m investment which represents a 10% shareholding in PrIME. NuSep currently holds the remaining 90%, but
expects to sell this holding down to approximately 50% as additional investors subscribe for shares in PrIME.
Luye also has an option to increase their shareholding from the current 10% to 20% by investing a further S$6m in PrIME shares."

Oct 2012

Terms of the Proposed Spin Out The current share capital of PrIME Biologics is held 90% by NuSep and 10% by Luye Pharma Group. At the time of the IPO the capital structure of PrIME is expected to look like:

As part of the spin off of PrIME Biologics it is proposed that all of the ordinary fully paid escrow shares be distributed pro rata to NuSep Shareholders on a 1 for 5 basis. The result of the pro rata distribution would be that after the distribution, every Shareholder will also hold 1 PrIME Biologics Share for every 5 Shares held in the capital of NuSep Holdings Ltd. No payment is
required from Shareholders for this distribution as the spin out is defined to be a return of capital.