The parties set out in Schedule 1 (as the “Lenders”) and ASLAN Pharmaceuticals Limited (as the “Borrower”) LOAN FACILITY AGREEMENT

The parties set out in Schedule 1 (the “Lenders”), of the one part; and

ASLAN Pharmaceuticals Limited, (Company Registration No. IT-289175) a company incorporated in the Cayman Islands and having its registered office at c/o Intertrust Corporate Services (Cayman) Limited, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇-▇▇▇▇, Cayman Islands (the “Borrower”), of the other part,

Each of the Lenders has agreed to make available to the Borrower a loan up to a specified amount on the terms set out in this Agreement; and

Each of the Lenders and the Borrower have agreed to enter into this Agreement to record the terms and conditions upon which the Lenders makes such loans available to the Borrower.

LOAN AND PURPOSE OF THE LOAN

Each of the Lenders commits, subject to the terms in this Agreement, to make available to the Borrower a loan of the sum indicated against their respective name in Schedule 1 (each a “Loan”), for the sole purpose of facilitating the Borrower’s operational needs. The aggregate amount of all such Loans shall be referred to as the “Aggregate Loan Amount”. The Borrower agrees to accept the Loans from the Lenders for such sole purpose and to make repayment to the Lenders on the terms and conditions set out in this Agreement. The Loans facility is available to be drawn down in the period between 4^th October 2019 up to and including 31^st December 2019 (the “Drawdown Period”).

The entirety of the Aggregate Loan Amount in this facility shall be drawn down in a single transaction, and the date when all of the Aggregate Loan Amount has been received into the Borrower’s bank account in accordance with clause 3.2 shall be the “Drawdown Date” for the purposes of this Agreement. If the Loan(s) is not drawn down by the expiry of the Drawdown Period, this Agreement shall terminate automatically.

The Loans shall be repaid in full together with accrued interest no later than two (2) years from the Drawdown Date (the “Term”).

INTEREST

DRAWDOWN AND REPAYMENT

When it wishes to draw down the Loans the Borrower shall give a draw-down notice to each of the Lenders in writing (which may be by e mail).

Upon receipt of the Borrower’s draw-down notice, each Lender severally agrees to transfer the sum indicated against that Lender’s name in Schedule 1 to the Borrower’s bank account as specified in Schedule 2 within five (5) Business Days of the date of the draw-down notice. “Business Day” means a day (other than a Saturday or Sunday) on which banks are open for business in Singapore. All payments payable by the Lenders pursuant to this Agreement shall be made in United States Dollars and shall be made in accordance with the instructions of the Borrower and shall be paid to the Borrower without any deduction in respect of banking fees, or as required by law.

The Borrower shall repay, on or before the expiry of the Term, the Aggregate Loan Amount outstanding on such date together with accrued interest and all other outstanding amounts under this Agreement. Such repayments to each Lender shall be made in United States Dollars.

The Borrower shall also be entitled to repay all or part of the Loans at any time prior to expiry of the Term. Any such early repayment of all or part of the Aggregate Loan Amount shall include payment of all accrued compounded interest attributable to the amount of the Aggregate Loan Amount repaid, up to the date of such early repayment (the “Then-Accrued Interest”). In such circumstances, if the Then-Accrued Interest is less than 5% of the principal amount of the Loan repaid, ASLAN undertakes to substitute for the Then-Accrued Interest, an amount equal to 5% of the principal amount of the Loan repaid by way of a guaranteed minimum interest payment. Any part repayment of the Loans shall be made on an equal pro-rata basis among all Lenders.

METHOD OF PAYMENT

FINANCE DEBT

EFFECTIVENESS AND VALIDITY

This Agreement shall become effective and binding as between the Borrower and each individual Lender on the first date the Borrower and that Lender shall have executed this Agreement, and such date shall be the “Effective Date” as between those parties. For the avoidance of doubt, the Effective Date for some Lenders may be different to that for other Lenders, to the extent Lenders execute this Agreement on different dates.

Notwithstanding that the whole or any part of any provision of this Agreement may prove to be illegal or unenforceable, the other provisions of this Agreement and the remainder of the provision in question shall remain in full force and effect.

ASSIGNMENT

This Agreement shall be binding on and inure to the benefit of the Parties hereto and their respective successors and assigns.

Any of the Lenders may by notice to the Borrower at any time assign to any person all or any part of its rights under this Agreement, but the rights of the Borrower under this Agreement are personal to it and cannot be assigned either in whole or in part.

NOTICE

GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of Republic of Singapore.

All disputes, disagreements or differences arising out of or in connection with this Agreement shall be submitted to the exclusive jurisdiction of the Courts of Republic of Singapore.

THIRD PARTY RIGHTS; AMENDMENTS OR WAIVERS

This Agreement does not create or confer any rights or benefits enforceable by any person not a Party to it.

No consent from the persons referred to in this Clause is required for the Parties to vary or rescind this Agreement (whether or not in any way that varies or extinguishes rights or benefits in favour of such third parties).

No modification or waiver of any provision of this Agreement or consent to departure therefrom shall be effective unless approved by the written consent of the Borrower and the Lenders holding Loans representing a majority of the Aggregate Loan Amount then outstanding.

CONFIDENTIALITY

The term “ConfidentIal Infromation” for the purposes herein means the terms of this Agreement and any and all information, data, memoranda, models, prototypes, and/or other material whether of scientific, technical, commercial, financial or other nature, not in the public domain, furnished to or obtained by a Party from the other Party under this Agreement in written, oral or other tangible form. Each Lender, as the receiving Party, agrees for the Term and for a period of three (3) years after the termination or expiration of this Agreement, to treat the Confidential Information of the Borrower as strictly confidential and not to disclose it to any third party for any purpose whatsoever and to treat it with at least the same care and in the same manner as its own secret and valuable information. The receiving Party shall ensure that its employees to whom Confidential Information is disclosed covenant to keep such information confidential to the extent that the receiving Party is bound by this Agreement and that such covenants on the part of employees are strictly observed.

The provisions of Clause 11.1 above shall not apply to any:

The receiving Party acknowledges that unauthorized disclosure or use of Confidential Information could cause great or irreparable injury to the Borrower and that pecuniary compensation would not afford adequate relief or it would be extremely difficult to ascertain the amount of compensation which would afford adequate relief. Therefore, the receiving Party agrees that, in the event of such unauthorized disclosure or use of Confidential Information, the Borrower will have the right to seek and obtain injunctive relief in addition to any other rights and remedies it may have.

PUBLICITY

COUNTERPARTS

Name of Lender

Address

Committed Loan Amount (USD)

Bukwang Pharm. Co. Ltd.

Beneficiary Name :

ASLAN Pharmaceuticals Ltd

Bank Name :

The Hong Kong and Shanghai Banking Corporation

Bank Address :

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USD Bank Account No.:

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SWIFT Code :

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“Number of ADRs”:

- rounded down to the nearest whole number

/s/ ▇▇▇▇ ▇▇▇▇▇

▇▇▇▇ ▇▇▇▇▇, CEO, for and on behalf of

ASLAN Pharmaceuticals Ltd.

/s/ Hee-won Yoo

The Conversion Option shall only be exercisable by the Lender conditional on the ordinary shares of the Borrower having been delisted from the Taipei Exchange.

Once lodged any Conversion Exercise Notice shall be irrevocable save with the consent of the board of the Borrower.

The issue of ADRs in the Borrower to the Lender pursuant to any exercise or part-exercise of the Lender’s rights made in accordance with this Agreement shall fully satisfy the Borrower’s obligations under this Agreement to issue ADRs in the Borrower to the Lender in respect of such exercise.

Any subscription rights not exercised before expiry of the Exercise Period shall automatically lapse and cease to be exercisable.

The Lender must not assign its Conversion Option hereunder or create any encumbrance over or otherwise transfer the same without the Borrower’s prior written consent, but no such consent shall be required where such assignment is solely occasioned by a scheme for a solvent amalgamation of the Lender with one or more other affiliates or by the solvent reorganisation of the Lender.

Upon completion of the allotment and issue of ADRs pursuant to any exercise of rights by the Lender in accordance with this Agreement, the Borrower shall, subject to the Constitution of the Borrower:

allot and issue to the Lender (or its nominee) the number of ADRs in the Borrower for which it is exercising its subscription rights in accordance with this Agreement, such ADRs to be issued to the Lender no later than fifteen (15) Business Days after the Borrower’s the receipt of Conversion Exercise Notice;

enter the Lender (or its nominee, as appropriate) in the Borrower’s register of ADR holders as the holder of the number of ADRs in the Borrower issued to it no later than three (3) business days of such completion and allotment; and

deliver to the Lender within a reasonable period of time a duly executed certificate for the number of ADRs in the Borrower issued to it.