Australian Ethical Investment : Change in substantial holding – IIL

Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder

To Company Name/Scheme Innate Immunotherapeutics Limited ACN/ARSN 165 160 841

1. Details of substantial holder (1)

   Name National Nominees Ltd ACF Australian Ethical Investment Limited

   ABN 51 004 278 899

   There was a change in the interests of the substantial holder on	18/01/2017
   The previous notice was given to the company on	01/12/2016
   The previous notice was dated	02/12/2016

2. Previous and present voting power

   The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

   Class of securities (4)	Previous notice		Present notice
   Person's votes (5)	Voting power (6)	Person's votes (5)	Voting power (6)
   Ordinary Shares	14,074,092	6.34%	11,726,848	5.28%

3. Changes in relevant interests

   Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

   Date of Change	Person whose relevant interest changed	Nature of Change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
   Please see attached

4. Present relevant interests

   Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

   Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
   National Nominees Ltd	National Nominees Ltd ACF Australian Ethical Investment	National Nominees Ltd ACF Australian Ethical Investment	Holder of security	11,726,848 Ordinary F/P	5.28%

   604 13 September 2016

5. Changes in association

   The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

   Name and ACN/ARSN (if applicable)	Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
National Nominees Ltd	Level 12, 500 Bourke St, MELBOURNE VIC 3000
Australian Ethical Investment Limited	GPO Box Centre Sydney, GPO Box 8, Sydney NSW 2001

Signature

Print name: David Wilson

Capacity: Fund Accounting Manager

Sign here: Date: 19/01/2017

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

2. See the definition of "associate" in section 9 of the Corporations Act 2001.

3. See the definition of "relevant interest" in sections 608 and 671B (7) of the Corporations Act 2001.

4. The voting shares of a company constitute one class unless divided into separate classes.

5. The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

6. Include details of:

7. any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

8. any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

   See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

9. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

10. If the substantial holder is unable to determine the identity of the person (e.g. if the relevant interest arises because of an option) write "unknown".

11. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

IIL Innate Immunotherapeutics Ltd
National Nominees Ltd ACF Australian Ethical Investm	% This Report	% Previous Report	%Movement	AEI Holding	Issued Shares
Holds	5.28	6.34	-1.06	11,726,848	222,098,213

Date of Change

Person whose relevant interest changed

Nature of Change

Consideration given in relation to change

Class and number of securities affected

Person whose votes affected

Notice Required: Form 604 - Notice of change of interest of substantial holder

National Nominees Ltd ACF	National Nominees Ltd ACF
Australian Ethical	Australian Ethical Investment
18/01/2017 Investment Ltd	Sale	554,013.92	395,101.00	Ltd
18/01/2017 ditto	Sale	28,044.17	20,000.00	ditto
18/01/2017 ditto	Sale	195,111.45	140,000.00	ditto
17/01/2017 ditto	Sale	340,370.11	255,368.00	ditto
17/01/2017 ditto	Sale	19,992.92	15,000.00	ditto
17/01/2017 ditto	Sale	65,692.65	50,000.00	ditto
16/01/2017 ditto	Sale	12,806.76	10,000.00	ditto
16/01/2017 ditto	Sale	261,938.01	204,531.00	ditto
13/01/2017 ditto	Sale	45,068.13	35,000.00	ditto
13/01/2017 ditto	Sale	212,513.44	165,000.00	ditto
12/01/2017 ditto	Sale	138,835.69	109,924.00	ditto
11/01/2017 ditto	Sale	506,061.03	390,076.00	ditto
21/12/2016 ditto	Sale	29,245.34	36,342.00	ditto
19/12/2016 ditto	Sale	66,577.41	80,207.00	ditto
14/12/2016 ditto	Sale	81,691.28	99,214.00	ditto
13/12/2016 ditto	Sale	12,091.93	15,135.00	ditto
12/12/2016 ditto	Sale	9,934.00	12,267.00	ditto
9/12/2016 ditto	Sale	64,945.80	79,854.00	ditto
8/12/2016 ditto	Sale	108,750.69	131,631.00	ditto
7/12/2016 ditto	Sale	6,643.80	8,193.00	ditto
6/12/2016 ditto	Sale	23,602.72	27,931.00	ditto
5/12/2016 ditto	Sale	56,116.54	66,470.00	ditto

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