ADX ENERGY LTD — Capital/Financing Update 2018

Dec 2, 2018

ASX Release

3 December 2018

ADX Capital Raising for Ongoing Asset Development and Asset Funding Activities

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ADX Energy Ltd (ASX: ADX ) is pleased to announce the completion of a placement to raise $750,000. The placement consists of 75,000,000 new shares at 1.0 cent per share to raise gross proceeds of $750,000. The placement is unconditional and expected to settle on 4 December 2018.

One (1) free attaching unlisted Option (exercisable at $0.02 each on or before 31 December 2019) will be provided for every three (3) Shares subscribed for and issued under the placement.

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The new Shares and Options will be issued under ADX’s placement capacity under ASX Listing Rule 7.1.

The funds raised in conjunction with the Company’s current cash resources will primarily be used to continue the funding of the Company’s ongoing work program to obtain the ratification of the permit containing the Nilde Oil Field Development Project offshore Italy, secure funding for the appraisal of the Company’s Dougga gas condensate discovery offshore Tunisia, ongoing operational planning work in relation to the upcoming Parta Appraisal Program as well as to augment ongoing working capital requirements.

QA Capital was the lead manager for the placement.

For further details please contact : Ian Tchacos

Executive Chairman

+61 (08) 9381 4266

www.adxenergy.com.au