Australian Ethical Investment : Ceasing to be a substantial holder – IIL

Form 605 Corporations Act 2001 Section 671B Notice of ceasing to be a substantial holder

To Company Name/Scheme Innate Immunotherapeutics Ltd

ACN/ARSN 165 160 841

1. Details of substantial holder (1)

   Name National Nominees Ltd ACF Australian Ethical Investment

   ACN/ARSN (if applicable) ARSN 089 919 175

   The holder ceased to be a substantial holder on	23/01/2017
   The previous notice was given to the company on	18/01/2017
   The previous notice was dated	19/01/2017

2. Changes in relevant interests

   Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person's votes affected
   Please see attached trade listing

3. Changes in association

   The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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
   N/A

4. Addresses

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

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

Signature

print name David Wilson capacity Fund Accounting Manager

sign here date 24/01/2017

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 4 of the form.

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

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

4. Include details of:

5. 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

6. 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.

7. 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.

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

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

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

IIL Innate Immunotherapeutics Ltd
National Nominees Ltd ACF Australian Ethical Investment Ltd	% This Report	% Previous Report	%Movement	AEI Holding	Issued Shares
Holds	4.87	5.28	-0.41	10,826,848	222,098,213
Notice Required: Form 605 - Notice of ceasing to be a substantial holder

National Nominees Ltd ACF Australian	National Nominees Ltd ACF Australian
23/01/2017 Ethical Investment Ltd	Sale	645,996.45	399,914	Ethical Investment Ltd
20/01/2017 ditto	Sale	112,088.07	70,065	ditto
19/01/2017 ditto	Sale	22,769.30	15,000	ditto
19/01/2017 ditto	Sale	629,982.44	415,021	ditto