BOTALA ENERGY LTD — Capital/Financing Update 2023

Nov 13, 2023

ASX Announcement

Tuesday, 14 November 2023

BOTSWANA STOCK EXCHANGE DUAL LISTING APPROVAL

Botala Energy Ltd (ASX: BTE) (“ Botala ”) is pleased to announce that it has been given approval to dual list on the Botswana Stock Exchange (“ BSE ”).

Botala’s dual listing on the BSE is by way of introduction to the BSE Foreign Main Board. The dual listing will be effective from the 22 November 2023. A copy of the abridged BSE pre-listing statement can be viewed on Botala’s website at https://botalaenergy.com/.

The listing is granted subject to the condition that Botala shall on a continuing basis, adhere to the requirements of the BSE. However, given Botala will be admitted to the BSE via introduction, the BSE has advised that Botala will be allowed to follow the ASX Listing Rules (as an alternative to following the requirements of the BSE) while dual listed on the BSE.

Following Botala’s dual listing on the BSE, Botala’s shares will be tradeable on the BSE in addition to being tradable on the ASX and Botala’s Australian share registry (Computershare Investor Services Proprietary Ltd) will undertake monthly reconciliations to ensure that Botala’s share register is in balance at all times through the use of a removal process for shares between the main (ASX) register and the secondary (BSE) “subregister”. Notwithstanding the dual listing, all of Botala’s shares across both registries will continue to be quoted on ASX. There will be no effect on the basis of trade on ASX as a result of the commencement of quotation of Botala’s shares on BSE.

In connection with the BSE listing, Botala has appointed Imara Capital Securities Proprietary Limited to act as Botala’s sponsor and sponsoring broker on the BSE and to liaise with Botala’s Australian share registry.

Botala has received a waiver from the BSE requiring Botala to make an offer for sale or subscription of its ordinary shares to the public simultaneously with the dual listing.

This ASX announcement was approved and authorised for release by the CEO.

Yours faithfully, BOTALA ENERGY LTD

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Kris Martinick Chief Executive Officer

For more information please contact:

Kris Martinick.

This announcement is lodged on Botala’s website, www.botalaenergy.com

About Botala

ASX-listed Botala is exploring and developing production of coal bed methane ( CBM ) from its 70% owned Serowe CBM Project which is located in a high-grade CBM region of Botswana. The remaining 30% are owned by ASXlisted Pure Hydrogen Corporation Ltd pursuant to a joint venture agreement with Botala. As Operator, Botala is focussed on developing the Serowe CBM Project and related early-stage renewable energy opportunities and believes that there are considerable opportunities for Botala to commercialise CBM because of the demand for reliable and affordable energy in Botswana and neighbouring countries.