BLUE ENERGY LIMITED. — Capital/Financing Update 2021

Sep 29, 2021

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30 September 2021

Company Announcements Officer Australian Securities Exchange Level 4 20 Bridge Street Sydney NSW 2000 By Electronic Lodgement

Issue of Placement Shares

Notification under section 708A(5)(e) of the Corporations Act 2001 (“the Act”)

On 22 September 2021, Blue Energy Limited (ASX:BLU) (the “ Company ”) announced it had completed a $10 million placement, (inclusive of costs) via a Placement to institutional and sophisticated investors (“ Placement ”).

The Company advises that it has today lodged an Appendix 2A under which it has issued 199,332,376 new fully paid ordinary shares in the Company (“ New Shares ”) being the shares issued under the Placement at an issue price of $0.05 per New Share.

In compliance with section 708A(6) of the Act, the Company hereby issues a notice under section 708A(5)(e) of the Act that:

• (a) the New Shares, that have today been issued are part of a class of securities quoted on the Australian Securities Exchange;

• (b) the New Shares were issued without disclosure to investors under Part 6D.2 of the Act;

• (c) the Company, as at the date of this notice, has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to the Company; and

  • (ii) Section 674 of the Act; and

• (d) as at the date of this notice, there is no ‘excluded information’ of the type referred to in sections 708A(7) and 708A(8) of the Act, to be disclosed under section 708A(6)(e) of the Act.

Authorised for release by the Board per:

Stephen Rodgers Company Secretary

Blue Energy Limited

Tel. +61 7 3270 8800

e info@blueenergy.com.au ABN 14 054 800 378 w www.blueenergy.com.au