X0306 4 2019-07-26 0 0001540159 Edesa Biotech, Inc. EDSA 0001779126 Brooks Michael J C/O EDESA BIOTECH INC. 100 SPY COURT MARKHAM A6 L3R 5H6 ONTARIO, CANADA 0 1 0 0 President Stock Option (right to buy) 2.16 2019-07-26 4 A 0 7663 0 A 2027-08-28 Common Shares 7663 136416 D Stock Option (right to buy) 2.16 2019-07-26 4 A 0 1365 0 A 2027-09-26 Common Shares 1365 24299 D Stock Option (right to buy) 2.16 2019-07-26 4 A 0 91 0 A 2028-12-28 Common Shares 91 1620 D In Canadian currency. Represents additional options to purchase common stock of Edesa Biotech, Inc. (formerly known as Stellar Biotechnologies, Inc.) (the "Issuer") issued pursuant to the post-closing adjustment contemplated by that certain Share Exchange Agreement, dated as of March 7, 2019, by and among the Issuer, Edesa Biotech, Inc. ("Edesa"), and the shareholders of Edesa. The closing of the share exchange transaction contemplated by the Share Exchange Agreement occurred on June 7, 2019, at which time the Issuer acquired all the outstanding capital shares of Edesa from the Edesa shareholders. This option was issued in replacement of an option to purchase shares of Edesa. All share numbers and exercise prices reflect the 1-for-6 reverse split of the Issuer's common shares which occurred on June 7, 2019. This option was fully vested on August 28, 2017. This option vests and becomes exercisable 1/3 on September 26, 2018, and monthly thereafter through September 26, 2020. This option vests and becomes exercisable 1/3 on December 28, 2019, and monthly thereafter through December 28, 2021. /s/Michael J. Brooks 2019-07-30